BP’s Energy Outlook examines primary energy consumption by region to 2040
The Energy Outlook explores the forces shaping the global energy transition out to 2040 and the key uncertainties surrounding that transition
What it shows
How the growth in global energy demand to 2040 is driven by fast-growing emerging economies, while growth in developed economies remains flat for the coming decades.
Why this trend is emerging
The growth in global energy demand to 2040 is driven by increasing prosperity and improving living standards, particularly in the developing world. China’s energy growth slows significantly as it moves to a more sustainable pattern of consumption led growth. In contrast, India’s robust economic growth and ongoing industrialization means slowing in demand growth is less pronounced.
What comes first - energy or prosperity?
Plentiful supplies of energy enable this increasing prosperity and prosperity boosts energy demand.
And another thing...
Africa also plays an increasingly important role in driving energy demand - contributing more to global demand growth from 2035 than China. This is supported by an increasing population together with some pick-up in productivity.
