Coal Industry Faces Steep Decline as Renewable Energy Surges Worldwide
The future of coal production is changing due to concerns about CO2 emissions and the rise of renewable energy sources like wind and solar power. By 2030, global coal demand is expected to decrease significantly from 2019 levels. This decline is influenced by environmental worries, the growth of renewables, and policies aiming for carbon neutrality. Developed nations are cutting back heavily on coal, while China remains a major player for now but is set to reduce coal use after 2025. In contrast, countries like India and Indonesia are expected to raise their coal consumption for power and industry needs in the coming years. The power sector is the main driver of coal demand, but as renewables take over and natural gas becomes cheaper, coal usage is declining globally.