Coal Market in India Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Report Covers Indian Coal Market Size & Share and it is Segmented by Application (Power Generation (Thermal Coal), Coking Feedstock (Coking Coal), and Other Applications). The report offers the market size and forecasts in terms of tonnes for all the above segments.

India Coal Market Size

India Coal Market Summary
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Study Period 2019-2028
Base Year For Estimation 2022
Market Volume (2023) 0.9 Billion tons
Market Volume (2028) 1.30 Billion tons
CAGR (2023 - 2028) 7.57 %
Market Concentration Medium

Major Players

India Coal Market Major Players

*Disclaimer: Major Players sorted in no particular order


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India Coal Market Analysis

The India Coal Market size is estimated at 0.9 Billion tons in 2023, and is expected to reach 1.30 Billion tons by 2028, growing at a CAGR of 7.57% during the forecast period (2023-2028).

The India coal market is estimated to be at 0.90 billion tons by the end of this year and is projected to reach 1.30 billion tons in the next five years, registering a CAGR of over 7.57% during the forecast period.

  • Over the medium term, factors such as increasing power generation capacity plans and increasing electricity demand and rapidly growing industrial and infrastructural development activities, are expected to be one of the most significant drivers for the India coal market during the forecast period.
  • On the other hand, supportive government policies to increase renewable energy generation is expected to restrain the growth of the Indian coal market during the forecast period.
  • Nevertheless, availability of lignite resources in three states: Tamil Nadu, which accounts for 79% of lignite resources, Rajasthan, and Gujarat. Most of the resources are untapped, and the mining of lignite sources is expected to create several opportunities for the market players.

India Coal Market Trends

Increasing Thermal Power Generation is Expected to Drive the Market

  • Coal is extensively used in India to fire thermal power stations and, in turn, meet the demand for various sectors, such as industry, transport, residential, commercial, and public services. The power stations segment is expected to dominate the market, supported by India's plan to add additional coal-fired plants during the forecast period.
  • Coal-fired power plants generate energy from the combustion of coal. The country is the second-largest coal producer globally and uses most coal to produce electricity. According to the India Ministry of Coal statistics, as of July 2023, the country imported 87.97 million tonnes of coal, moreover, the total coal imports registered 237.67 million tonnes in 2022-23.
  • In April 2023, India's total coal installed generation capacity was 205 GW, which accounted for 49.3 % of the full installed power generation capacity. The increased consumption of coal exhibits the growing usage of coal in the country. Coal is abundant and economical for the country and is widely used by power-generating companies.
  • The Ministry of Power in India is plplansommission Patratu Super Thermal Project by the end of 2022. The project is located in Jharkhand and can produce 4000 megawatts (MW) of coal-fired power. For India, coal has been a significant source of power generation in the past and still holds a considerable share in the country's power generation industry. This is expected to positively impact the thermal power plant market in the country.
  • Moreover, the country plans to commission the Uppur Thermal Power Project located in Ramanathapuram, Tamilnadu, with a capacity of 1600 MW by 2023. The project is owned by Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO) and has an investment cost of USD 1.7 billion.
  • Hence, owing to the above points, increasing thermal-based power generation projects are expected to drive the Indian Coal Market during the forecast period.
India Coal Market: Monthly Coal Import, in million tonnes, India, Aug 22 - Mar 23

Supportive Government Policies for Renewables is Expected to Restrain the Market

  • The Indian government has introduced numerous supportive policies to increase the renewable energy installed capacity to 450 GW by 2030. Since the utilization of coal leads to air pollution linked with health disorders, the government is actively promoting renewables to reduce coal usage.
  • According to International Renewable Energy Agency, the total renewable energy installed capacity raised to 162.96 GW in 2022, with an annual growth rate of 10.8% compared to the previous year.
  • As part of the Paris Climate Agreement, India has committed to install 40% of its electricity generation capacity from non-fossil fuels by 2030. To achieve this goal, India has set an ambitious target of setting up 1,75,000 MW of renewable energy capacity, including 1,00,000 MW of solar power, by 2022. Further, a target of 4,50,000 MW installed RE capacity by 2030 has also been fixed, and this, in turn, culminates in the reduction in the usage of coal across the country
  • Some other schemes implemented by the Ministry of New and Renewable Energy (MNRE) in the last three years are the Solar Park Scheme, the 300 MW defense Scheme, and the 500 MW of VGF (Viability Gap Funding) Scheme. In January 2020, India made an ambitious target of having 450 GW of renewable energy by 2030.
  • Owing to the above factors increasing renewables with supportive government policies is expected to hamper the growth of the Indian Coal Market in the forecast period.
India Coal Market: Total Renewable Energy  Installed Capacity, in GW, in India, 2015-2022

India Coal Industry Overview

The India coal market is moderately consolidated. Some of the major players in the market (in no particular order) include Adani Group, Coal India Limited, JSW Energy Ltd, NTPC Ltd, and Jindal Steel & Power Ltd., among others.

India Coal Market Leaders

  1. Coal India Limited

  2. JSW Energy Ltd

  3. NTPC Ltd

  4. Jindal Steel & Power Ltd

  5. Adani Power Limited

*Disclaimer: Major Players sorted in no particular order

India Coal Market Concentration

India Coal Market News

  • In February 2023, the 2600 megawatt Singareni Thermal Power Plant (STPP) at Pegadapalli in Mancherial district is all set to become South India's first public sector coal-based power generating station and the country's first among State Public Sector Undertakings (PSU).
  • In November 2022, Following the contract award for a 1,320 megawatt (MW) thermal power plant in Talcher, Odisha, NTPC Ltd concluded contracts for four additional coal-fired power projects over the next three years. These four projects will increase energy generation capacity by 4.8 gigatonnes (GW).

India Coal Market Report - Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in tonnes, until 2028

    3. 4.3 Energy Mix, 2022

    4. 4.4 Coal Prices, 2011-2022

    5. 4.5 Coal Porduction in India, in Tonnes, 2011-2022

    6. 4.6 Coal Imports, 2015-2022

    7. 4.7 Statewise Coal Production, India, 2022

    8. 4.8 Recent Trends and Developments

    9. 4.9 Government Policies and Regulations

    10. 4.10 Market Dynamics

      1. 4.10.1 Drivers

        1. Increasing Power Generation Capacity Plans and Increasing Electricity Demand

        2. Rapidly Growing Industrial and Infrastructural Development Activities

      2. 4.10.2 Restraints

        1. Coal Substituted with Clean Energy Sources

    11. 4.11 Supply Chain Analysis

    12. 4.12 PESTLE Analysis


    1. 5.1 Application

      1. 5.1.1 Power Generation (Thermal Coal)

      2. 5.1.2 Coking Feedstock (Coking Coal)

      3. 5.1.3 Others


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 NLC India Ltd

      2. 6.3.2 JSW Energy Limited

      3. 6.3.3 Singareni Collieries Company Limited (SCCL)

      4. 6.3.4 NTPC Ltd

      5. 6.3.5 Jindal Steel & Power Ltd

      6. 6.3.6 Adani Power Ltd

      7. 6.3.7 Coal India Limited

    4. *List Not Exhaustive

    1. 7.1 Untapped Mining Lignite Sources

**Subject to Availability

India Coal Industry Segmentation

Coal is a combustible black or brownish-black sedimentary rock that forms rock strata known as coal seams. Coal is mostly carbon, with trace amounts of additional elements such as hydrogen, sulfur, oxygen, and nitrogen.

The India coal market is segmented by application. By application, the market is segmented into power generation (Thermal Coal), coking feedstock (Coking Coal), and others. For each segment, the market sizing and forecasts have been done in tonnes.

Power Generation (Thermal Coal)
Coking Feedstock (Coking Coal)

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India Coal Market Research FAQs

The India Coal Market size is expected to reach 0.9 billion tons in 2023 and grow at a CAGR of 7.57% to reach 1.30 billion tons by 2028.

In 2023, the India Coal Market size is expected to reach 0.9 billion tons.

Coal India Limited, JSW Energy Ltd, NTPC Ltd, Jindal Steel & Power Ltd and Adani Power Limited are the major companies operating in the India Coal Market.

India Coal Industry Report

Statistics for the 2023 India Coal market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Coal analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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