In 2023, the world’s coal consumption hit a record high of 164 exajoules (EJ) of energy, despite many countries moving away from fossil fuels.

With a contribution to global energy of 26% in 2023—more than all non-fossil fuel sources put together—coal is a major player in the energy mix. Oil was the only energy source that increased its share of the world energy mix.

Here is the coal consumption breaks down by region:

In many areas, the amount of coal consumed has dropped. For instance, in 2023, the energy consumption of coal in North America and Europe was both lowered by sixteen percent.

However, the Asia Pacific region’s heavy reliance on coal has resulted in a essentially unchanged global coal consumption over the past ten years.

China’s coal consumption increased to nearly 92 EJ in 2023 from 88 EJ, accounting for 56% of the world’s coal consumption. This made a substantial contribution to Asia Pacific’s astounding 83 percent global coal consumption lead.

The Importance of Coal

In addition to keeping the world’s coal consumption stable over the past ten years, affordable prices and easy access to current infrastructure have opened the door for future expansion. There are now a lot more developing countries using coal, which could lead to more opportunities in the coal market.

For instance, Bangladesh and Colombia experienced double-digit percentage increases in their year-over-year coal consumption between 2022 and 2023: 41% and 53%, respectively, according to the Statistical Review of World Energy 2024.

Due in large part to its affordability, coal is still the preferred energy source in developing nations, where it remains a vital component of the world energy mix.