China's industrial coal consumption exhibited a declining trend from 2013 to 2016, falling from 403.16 to 367.44 million metric tons. This period saw a significant effort towards reducing coal reliance, with annual declines of -2.63% to -3.66%. Starting in 2017, consumption experienced moderate recovery, rising steadily to reach 404.07 million metric tons in 2023. The Compound Annual Growth Rate (CAGR) from 2018 to 2023 averaged 1.2%, indicating a stable increase.
By 2023, coal consumption stood at 404.07 million metric tons. Year-on-year growth for 2022 and 2023 was about 1.11% and 1.09%, respectively. Looking ahead, forecasts suggest this rise will continue at a slower CAGR of 0.81% through 2028, reaching approximately 425.16 million metric tons. The five-year growth rate points to a cumulative increase of 4.11% over the period.
Future trends to observe include the impact of China's environmental policies aiming at reducing coal dependency, advancements in cleaner technologies, and shifts towards renewable energy sources. These factors will play a critical role in shaping the trajectory of coal consumption in the industry.
