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, pushing the urbanisation rate up from 55% in 2018 to 64% in 2040, 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.
Renewable energy is expected to around half of the growth in global energy supplies by 2040.
In the OECD, declines in oil and coal are offset by increases in natural gas and renewables, in roughly equal part. Growth in non-OECD energy is evenly spread, with roughly a quarter in each for oil, gas, coal, and non-fossil fuels.
total global vehicle fleet
Total global vehicle fleet