By 2024, India to become second largest coal consumer
As per BP World Energy Outlook 2030, India will overtake US as second largest coal consumer in 2024. Currently, China is the largest consumer of coal in the world.
Key projections of the report:
- India and China will make close to 93% of the net growth in demand in 2030. The combined share of global coal consumption in both countries would increase from 57% in 2011 to 65% in 2030.
- However, India’s coal demand growth slows down more gradually as it declines to 3.6 % annually during 2011-2030 from 6.5% a year in 2000-10. This is due to energy efficiency gains partially offset rising energy demand for industrial and infrastructure expansion.
- China’s demand for coal also decelerates rapidly from 9% a year in 2000-10 to 3.5% every year this decade and 0.4% each year in 2020-30. This is due to switch to less coal-intensive economic activities and by energy improvements.
- The coal consumption for electricity generation has declined as the growth has reduced from 3.6% a year in 2000-10 to 2.4% in 2011-20 and would further plummet to 0.4% after 2020. This is because gas, nuclear and renewable sources are more in demand.
- The global energy demand is likely to rise at an average of 1.6% a year to 2030.
- Non-OECD nations will account for 93% of growth in energy demand, with China and India accounting for more than half of the increase.
- By 2030, energy consumption in the non-OECD economies is predicted to be 61 % more than in 2011 whereas use in the OECD will have increased by only 6%.