China's coal consumption has shown fluctuating trends over the past decade. After a decline from 2013 to 2016, the consumption levels rebounded gradually from 2017 onwards. As of 2023, coal consumption stood at 440.98 million metric tons, representing a consistent yearly growth rate with slight increases.
The year-on-year percentage change shows a stable trend, ranging around 2% in recent years. The Compound Annual Growth Rate (CAGR) for the last five years stood at 2.23%, while the forecasted data suggest a slower growth rate with a 1.46% CAGR expected over the next five years. By 2028, the coal consumption is forecasted to reach 483.33 million metric tons, representing a 7.5% increase from 2023.
Future trends to watch for include:
- Government policies targeting carbon neutrality and their impact on coal consumption.
- The growth of alternative energy sources and their market penetration.
- Economic growth and its translation to industrial energy demands.