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Demand

Global demand for energy is expected to climb about 25 percent by 2040, and would soar significantly higher – closer to a 100 percent increase – but for anticipated efficiency gains across the economy.

Essentially all of this demand growth will come from non-OECD nations, particularly the expanding economies in the Asia Pacific region. Continuing urbanisation and a significant expansion of the middle class, particularly in China and India, will help drive this trend, highlighted by greater access to modern energy in homes, rising industrial demand, and significant increases in personal and commercial transportation needs.

Growth in global energy demand will be led by the increasing electrification of the global economy; 55 percent of the world’s energy demand growth over the next quarter century will be tied to power generation to support our increasingly digital and plugged-in lives. A consequence of this trend will be a large uptick in demand for many types of energy used to generate electricity, notably less carbon-intensive sources such as natural gas, nuclear, solar and wind.

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