World Energy Outlook

The world energy requirements are projected by several energy companies such as British Petroleum and Exxon Mobil and international agencies like International Energy Agency (IEA) and US Energy Information Administration (EIA). The International Energy Outlook is published every two years and looks at the long term energy outlook. This edition of the International Energy Outlook explores expected energy use through 2050. Global energy related CO₂ emissions are expected to increase through 2050, however the projections expect a shift from fossil to non-fossil energy sources.

• International Energy Agency [1]
• British Petroleum [2]
• Exxon Mobil [3]
• US Energy Information Administration (EIA) [4]

According to International Energy Outlook 2023,

• Global electricity generation will increase by 30-76% by 2050. Most new geneartion will be zero-carbon technologies. Electricity generation by fossil fuels are expected to decrease through 2050.
• Electric vehicles are expected to account for 29%-54% of all new vehicles sales (globally) by 2050.
• Population growth in African, India and other Asia-Pacific countries will drive energy growth.
• Global average annual GDP is expected to grow at 2.6% from 2022-2050.

Asia is heavily populated and continues to grow at a rapid pace. As a result, industrial growth has also increased, requiring a need for more energy. The world population is expected to reach 9.6 billion by 2050.