The global total support on coal for residential use in 2023 saw South Africa lead significantly with $934.64 million, experiencing a 5.43% increase from the previous year. China followed with $80.06 million, increasing by 8.05%. Meanwhile, Ireland and the United Kingdom saw declines of 2.43% and 4.88%, respectively. South Korea, Lithuania, and the Czech Republic recorded negative growth, with the Czech Republic at -2.7%. Smaller markets like Slovakia, Hungary, and Canada had considerable contractions, especially Hungary with a substantial decrease of 20.99%. The compound annual growth rate over the past five years indicates sluggish overall growth.
Looking ahead, the global shift towards renewable energy may influence future coal support reductions, especially in Europe and North America, as countries strengthen climate policies. Additionally, economic factors and geopolitical shifts might affect allocations, particularly in emerging markets such as South Africa and China. Continuous monitoring of environmental regulations and energy policies worldwide will be crucial in forecasting these trends.
Top countries in Total Support on Coal for Residential by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Africa | 934.64 | 2023 | +4.88% | +5.43% | View data |
| 2 | 2 China | 80.06 | 2023 | +9.04% | +8.05% | View data |
| 3 | 3 Ireland | 27.17 | 2023 | -1.41% | -2.43% | View data |
| 4 | 4 United Kingdom | 24.15 | 2023 | -5.19% | -4.88% | View data |
| 5 | 5 South Korea | 8.73 | 2023 | -8.2% | -10.43% | View data |
| 6 | 6 Lithuania | 7.37 | 2023 | -5.57% | -2.06% | View data |
| 7 | 7 Czech Republic | 4.95 | 2023 | +4.79% | -2.7% | View data |
| 8 | 8 Slovakia | 1.27 | 2023 | +0.24% | -6.53% | View data |
| 9 | 9 Hungary | 1.02 | 2023 | -12.78% | -20.99% | View data |
| 10 | 10 Canada | 0.017 | 2023 | -15% | -19.08% | View data |
