Global coal demand soared to a historic high of 8.77 billion tons in 2024, driven primarily by China, which accounts for a third of the world’s coal consumption. Despite this surge, the International Energy Agency (IEA) forecasts a stabilization in global coal demand due to the rapid growth of renewable energy sources. The report highlights the impact of economic growth in emerging economies like India, Indonesia, and Vietnam, while noting that coal demand in developed markets has peaked and is expected to decline in the coming years.