Rapidly developing nations, like India (and countries in Africa, South America and the Middle East) are lifting millions of people out of poverty. This sheer increase in the number of people demanding access to affordable and reliable energy will drive energy demand in the decades to come.
While population and energy consumption growth remains relatively static or falling in developed nations, increasing populations in developing countries are leading to projected increases in energy consumption.
The world’s population is increasingly concentrating in cities and towns, meaning the absolute number of people living in rural areas falls.
Urbanisation tends to increase demand for modern forms of energy, as such forms are of energy are more readily available and levels of income and economic activity tend to be higher in cities.
Even in the most optimistic and ambitious forecasts to reach net zero emissions by 2050, renewables will still only be providing around 60% of global energy by 2050.
total global vehicle fleet
Total global vehicle fleet