The turnover of coal and related products in China experienced significant fluctuations since 2013. From 2013 to 2016, there was a steep decline in turnover values, indicating a shrinking market. Recovery started in 2017 and continued through 2018, but a major dip occurred again in 2019 with a further dramatic decrease in 2020 due to external factors impacting demand. Remarkably in 2021 and 2022, there was a strong recovery, with a growth of 149.34% and 55.67% respectively. The turnover in 2023 stood at 372.83 hundred million Yuan Renminbi, marking an 11.52% increase from the previous year. Over the last 5 years, the average annual change (CAGR) was -1.5%.
Future trends to watch for include the forecasted gradual decline, with the market expected to shrink at a CAGR of -3.27% from 2023 to 2028. This suggests that stakeholders should prepare for strategic adjustments, including shifts toward sustainable energy sources and potential innovations within the coal sector to mitigate expected decreases in demand.
