The coal consumption in China's wholesale, retail trade, and hospitality sectors is forecasted to gradually decline from 2.3 to 2.24 ten million metric tons between 2024 and 2028. In 2023, this consumption was higher, underlining a steady reduction over the analyzed period. The year-on-year variations indicate a consistent downward trend with slight decreases each year. This gradual reduction reflects an average variation or Compound Annual Growth Rate (CAGR) that slightly leans towards negative growth.
Future trends to watch for include:
- Push towards renewable energy sources may further decrease coal consumption.
- Government policies targeting emissions may expedite this reduction.
- Technological advancements could drive energy efficiencies, influencing future consumption rates.