The global industrial sector uses more natural gas than any other type of fuel, consuming nearly 64 quadrillion British thermal units in 2022. The use of renewables is expected to almost double between 2022 and 2050, as the levelized cost for renewable energy technologies, such as wind and solar power, decreases. Global energy consumption outlook Global consumption of energy for industrial purposes is predicted to reach over 336 quadrillion British thermal units in 2050. Rising demand follows a trend of rising projected global energy consumption across all sectors until at least 2045. Despite the relative increase in renewable energy, it is expected that the overall demand for fossil fuels will continue growing. Gas will dominate the global industrial energy consumption over the next few decades. U.S. energy use by sector Since the 1970s, the industrial sector has been the largest consumer of energy in the United States. Transportation and commercial consumption have recorded the largest increase over the past 50 years, with consumption by the commercial sector nearly doubling since 1975. Primary energy consumption from fossil fuel sources in the U.S. is highest in the transportation sector.

The industrial sector accounts for the greatest final electricity consumption in the world. As of 2018, the industry is responsible for roughly 42 percent of total electricity consumption. By comparison, a little over one fourth of global power use was related to households.

Global Energy Consumption in Industry by Country, 2023 Discover more data with ReportLinker!

This statistic displays the distribution of final energy consumption globally, based on sector. The final energy consumption for buildings accounted for ** percent of world energy consumption worldwide, with ** exajoules being used for residential buildings.

China is the largest consumer of primary energy in the world, having used some 176.35 exajoules in 2024. This is a lot more than what the United States consumed, which comes in second place. The majority of primary energy fuels worldwide are still derived from fossil fuels, such as oil and coal. China's energy mix China’s primary energy mix has shifted from a dominant use of coal to an increase in natural gas and renewable sources. Since 2013, the renewables share in total energy consumption has grown by around eight percentage points. Overall, global primary energy consumption has increased over the last decade, and it is expected to experience the largest growth in emerging economies like the BRIC countries - Brazil, Russia, India, and China. What is primary energy? Primary energy is the energy inherent in natural resources such as crude oil, coal, and wind before further transformation. For example, crude oil can be refined into secondary fuels, such as gasoline or diesel, while wind is harnessed for electricity - itself a secondary energy source. A country’s total primary energy supply is a measure of the country’s primary energy sources. Meanwhile, end use energy is the energy directly consumed by the user and includes primary fuels such as natural gas, as well as secondary sources, like electricity and gasoline.

Indonesia Energy: Consumption: Energy Sector: Electricity data was reported at 50,643.000 TJ in 2017. This records an increase from the previous number of 49,098.000 TJ for 2016. Indonesia Energy: Consumption: Energy Sector: Electricity data is updated yearly, averaging 22,552.500 TJ from Dec 2006 (Median) to 2017, with 12 observations. The data reached an all-time high of 50,643.000 TJ in 2017 and a record low of 13,860.000 TJ in 2006. Indonesia Energy: Consumption: Energy Sector: Electricity data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Indonesia Premium Database’s Energy Sector – Table ID.RBA004: Energy Statistics: Consumption.

Industrial activities, transportation, and buildings (including residential and commercial sector) each accounted for approximately 120 exajoules of energy consumed in 2022. The industrial sector had the largest final energy consumption that year.

Oil is the most consumed primary energy fuel in the world. In 2024, some ****** exajoules worth of oil were consumed. That year, the consumption of fossil fuels registered an increase compared to the previous year. Rising demand for fossil fuels Demand for fossil fuels has remained high, as overall primary energy demand continues to increase. Excluding the effects of the coronavirus pandemic, the use of oil has consistently grown each year. Consumption of other non-renewable fuel types has been more varied. Global natural gas consumption has risen more or less consistently. Its properties as a less carbon-intensive fossil fuel than coal have led to an increase in its use in the power sector, overtaking coal use in major economies such as the United States. Fossil fuels by region The U.S. is the leading natural gas consuming country in the world, as well as the largest producer of this fossil fuel and of crude oil. Russia, China, and the Middle Eastern region follow, as they have either the richest reserves of these raw materials or account for the largest refining capacity.

Content

4 of these datasets outline the quantity of terawatt hours (TWh) produced through various sources of energy, comparing both renewable and non-renewable sources, while highlighting the renewable use of the top 20 countries. The Renewables Power Generation dataset includes a 1997-2017 timeline that outlines the progress of the main renewable energy sectors : Hydro, Wind, Biofuel, Solar PV, and Geothermal. Additionally, the Top 20 Countries Power Generation dataset includes the national data for each of the renewable categories as outlined above. The last 2 datasets include the global TWh generated from renewable and non-renewable sources.

In the latest version, I added two datasets which contain the global consumption figures on national and continental/international group levels, which help provide context about the quantity of energy required, how that is changing over time, and how we are doing in terms of transitioning from non-renewable to renewable energy use.

Source

Renewable Energy: Reddy, Vamsi., Kalananda, Aala., Komanapalli, Narayana. "Nature Inspired Optimization Algorithms for Renewable Energy Generation, Distribution and Management - A Comprehensive Review. 2021.

Consumption: https://yearbook.enerdata.net/total-energy/world-consumption-statistics.html (data converted from mTOE to TWh)

Inspiration

As temperatures rise and storms grow more fierce, improving the efficiency and increasing the use of renewable energy sources is critical. In turn, understanding which nations are leading the way and which require more immediate transformations will help target efforts and hopefully, reach global goals.

Which types of renewables are improving the fastest? Which countries using which types of renewables? At the increasing rate of returns on renewables, how long will it take to meet global demands and eliminate non-renewables, or atleast, break 50%?

Fossil fuels remain the greatest source of electricity generation worldwide. In 2023, coal accounted for roughly 35.5 percent of the global power mix, while natural gas followed with a 23 percent share. China, India, and the United States accounted for the largest share of coal used for electricity generation. The future of renewable energy Fossil fuel use notwithstanding, the share of renewables in global electricity has seen a more pronounced year-on-year growth in recent years, following increased efforts by governments to combat global warming and a decrease in levelized costs. Projections indicate that renewables will surpass fossil fuels as the main power source by 2040. Electricity consumption in the world China is the largest electricity consumer in the world, requiring more than 8,000 terawatt-hours of electricity every year. However, this economic power accounts for the largest population in the world and its electricity consumption per capita is almost tenfold smaller than the consumption of Iceland, although the power used in this country came almost completely from clean sources.

Almost 70 percent of the global primary energy demand was met by coal, natural gas, and oil in 2022. According to projections based on the current trend of the energy sector, fossil fuels will maintain a leading role in the primary energy sector until 2050. However, a significant effort to decrease carbon emissions would determine a shift to renewable energy.

Global primary energy consumption reached around 620 exajoules in 2023. This represented an increase of roughly two percent in comparison to 2022. In 2020, the coronavirus pandemic and its impact on transportation fuel demand and the overall economic performance resulted in primary energy consumption declining to 2016 levels. Nevertheless, worldwide energy consumption is projected to increase over the next few decades. Most common types of fuel Oil is the main primary energy fuel in the world, followed by other fossil fuels such as coal and natural gas. Each of these three sources had consumption levels of more than 140 exajoules in 2023, while other fuel types were consumed considerably less. However, in recent years, renewables have become more frequently used as worldwide investment in clean energy has more than double since 2014. Energy industry performance Energy use rose consistently every year over the last two decades except for 2009 and 2020, following the global financial crisis and the aforementioned coronavirus pandemic. As fossil fuels remain the largest source of energy consumption, the prices of these commodities serve as an indicator of overall energy industry performance.

CN: Electricity Consumption: ytd: SI: Industry: Heavy data was reported at 3,660.671 kWh bn in Dec 2017. This records an increase from the previous number of 3,264.300 kWh bn for Nov 2017. CN: Electricity Consumption: ytd: SI: Industry: Heavy data is updated monthly, averaging 1,469.835 kWh bn from Feb 2007 (Median) to Dec 2017, with 129 observations. The data reached an all-time high of 3,660.671 kWh bn in Dec 2017 and a record low of 211.000 kWh bn in Jan 2012. CN: Electricity Consumption: ytd: SI: Industry: Heavy data remains active status in CEIC and is reported by China Electricity Council. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBB: Electricity Consumption: by Industry.

India IN: Energy Consumption: % of Total Energy Consumption: Industry data was reported at 37.950 % in 2020. This records an increase from the previous number of 37.940 % for 2019. India IN: Energy Consumption: % of Total Energy Consumption: Industry data is updated yearly, averaging 31.200 % from Dec 1990 (Median) to 2020, with 31 observations. The data reached an all-time high of 38.360 % in 2018 and a record low of 27.440 % in 1995. India IN: Energy Consumption: % of Total Energy Consumption: Industry data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s India – Table IN.OECD.GGI: Environmental: Energy Production and Consumption: Non OECD Member: Annual.

Brazil Energy: Consumption: Industry: Food & Beverage: Electricity data was reported at 2,747.319 TOE th in 2023. This records an increase from the previous number of 2,500.721 TOE th for 2022. Brazil Energy: Consumption: Industry: Food & Beverage: Electricity data is updated yearly, averaging 1,206.537 TOE th from Dec 1970 (Median) to 2023, with 54 observations. The data reached an all-time high of 2,747.319 TOE th in 2023 and a record low of 151.102 TOE th in 1970. Brazil Energy: Consumption: Industry: Food & Beverage: Electricity data remains active status in CEIC and is reported by Ministry of Mining and Energy. The data is categorized under Global Database’s Brazil – Table BR.RBC018: Energy Consumption: by Sector: Industry: Food and Beverage.

Global consumption of renewable energy has increased significantly over the last two decades. Consumption levels nearly reached 90.23 exajoules in 2023. This upward trend reflects the increasing adoption of clean energy technologies worldwide. However, despite its rapid growth, renewable energy consumption still remains far below that of fossil fuels. Fossil fuels still dominate energy landscape While renewable energy use has expanded, fossil fuels continue to dominate the global energy mix. Coal consumption reached 164 exajoules in 2023, marking its highest level to date. Oil consumption also hit a record high in 2023, exceeding 4.5 billion metric tons for the first time. Natural gas consumption has remained relatively stable in recent years, hovering around 4 trillion cubic m annually. These figures underscore the ongoing challenges in transitioning to a low-carbon energy system. Renewable energy investments The clean energy sector has experienced consistent growth over the past decade, with investments more than doubling from 263 billion U.S. dollars in 2014 to 619 billion U.S. dollars in 2023. China has emerged as the frontrunner in renewable energy investment, contributing 273 billion U.S. dollars in 2023. This substantial funding has helped propel the renewable energy industry forward.

Energy: Consumption: Industry: Coke: Mineral Coal data was reported at 7,111.851 TOE th in 2023. This records a decrease from the previous number of 7,372.171 TOE th for 2022. Energy: Consumption: Industry: Coke: Mineral Coal data is updated yearly, averaging 6,373.250 TOE th from Dec 1970 (Median) to 2023, with 54 observations. The data reached an all-time high of 8,209.399 TOE th in 2011 and a record low of 1,155.977 TOE th in 1971. Energy: Consumption: Industry: Coke: Mineral Coal data remains active status in CEIC and is reported by Ministry of Mining and Energy. The data is categorized under Global Database’s Brazil – Table BR.RBC010: Energy Consumption: by Sector: Industry: All.

The global transportation sector has the highest fossil fuel consumption share. About ** percent of total energy used by the transportation sector in 2021 was sourced from fossil fuels. Meanwhile, ** percent of fuel consumed in the power sector was derived from fossil energy. In absolute numbers, the power sector is the largest consumer of fossil fuels worldwide and therefore accounts for the biggest share of greenhouse gas emissions.

According to Cognitive Market Research, the global Electricity Generation market size will be USD 2154.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 9.80% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 861.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 646.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 495.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 107.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 43.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031.
Thermal Generation is the market leader in the Electricity Generation industry

Market Dynamics of Electricity Generation Market

Key Drivers for Electricity Generation Market

Rising need for cooling boosts the electricity generation market: The increased demand for cooling is projected to drive the electricity generating market in the future years. Cooling is the process of lowering the temperature of an object or environment, which is usually accomplished by transporting heat away from the intended location, typically utilizing air or a cooling medium. Power generation can be utilized to cool by running air conditioning (AC) and fans to keep indoor temperatures comfortable. For instance, According to the International Energy Agency, an autonomous intergovernmental body located in France, in July 2023, more than 90% of households in the United States and Japan had an air conditioner. Cooling accounts for around 10% of global electricity use. In warmer countries, this might result in a more than 50% increase in power demand during the summer months. As a result, increased demand for cooling is likely to drive expansion in the power generating industry.

Increasing applications of electricity in the transportation industry: The growing use of energy in the transportation industry is predicted to increase demand for electricity, hence pushing the power generation market. The electrification of railways in underdeveloped and developing countries, the establishment of public transportation networks such as rapid metro transit systems, and the growing use of electric vehicles in developed countries will all create significant market opportunities for power generation companies. For instance, in order to achieve net-zero carbon emissions, the Office of Rail and Road (ORR) predicts that 13,000 track kilometers - or roughly 450 km per year - of track in the UK will need to be electrified by 2050, with 179 km electrified between 2020 and 2021. According to the Edison Electric Institute (EEl), yearly electric car sales in the United States are estimated to exceed 1.2 million by 2025. Electric vehicles are projected to account for 9% of worldwide electricity demand by 2050.

Restraint Factor for the Electricity Generation Market

High initial capital investment for renewable projects: The high initial capital for renewable projects is indeed a limiting factor for the market growth of the electricity generation sector, as most such technologies, infrastructure, and installation depend on significant up-front funding. For instance, most renewable energy technologies are highly capital intensive-solar, and wind, in particular, scares investors away from taking action, especially if they are small or developing firms. There is thus an economic limitation that restricts competition and contributes toward slower development of cleaner energy solutions. Moreover, funding can be quite tricky and challenging-especially for a poor economic climate. The payback times attached to these investment options are long, leading to uncertainty and making stakeholders reluctant to commit. These financial constraints are, therefore, blighting the transition to renewable energy as well as, more broadly, the overall electricity generation market

Trends for the Ele...

Electricity Trading Platform Market Outlook

The global electricity trading platform market is poised for substantial growth, with a market size of approximately USD 6.5 billion in 2023, projected to reach around USD 14.2 billion by 2032, reflecting a robust CAGR of 8.9% during the forecast period. This growth is fueled by various factors including the increasing penetration of renewable energy sources, advancements in smart grid technologies, and the rising need for energy efficiency and optimization.

One of the primary growth drivers for the electricity trading platform market is the increasing integration of renewable energy sources into the power grid. As countries worldwide strive to meet their sustainability goals and reduce carbon emissions, the adoption of renewable energy such as wind, solar, and hydroelectric power is accelerating. This shift necessitates sophisticated trading platforms to manage the intermittent and decentralized nature of renewable energy production, ensuring a balanced and efficient energy market.

Additionally, the advancements in smart grid technologies are playing a crucial role in the expansion of the electricity trading platform market. Smart grids leverage digital communication technology to detect and react to local changes in electricity usage, enhancing the efficiency and reliability of the power grid. These technologies enable real-time data exchange, advanced analytics, and automated control, all of which are essential for the effective functioning of electricity trading platforms. The integration of Internet of Things (IoT) devices and artificial intelligence (AI) further augments the capabilities of these platforms, facilitating better demand-response mechanisms and predictive maintenance.

Moreover, the growing demand for energy efficiency and optimization is driving the need for electricity trading platforms. With increasing energy costs and heightened awareness of environmental impacts, both consumers and businesses are seeking ways to optimize energy usage. Electricity trading platforms provide the tools and data analytics necessary to achieve this, enabling participants to buy and sell electricity based on real-time market conditions, thus maximizing efficiency and cost savings. This trend is particularly prominent in the industrial and commercial sectors, where energy consumption is substantial and the potential for optimization is significant.

Regionally, North America and Europe are leading the market due to their early adoption of renewable energy technologies and advanced grid infrastructures. However, the Asia Pacific region is expected to exhibit the highest growth rate during the forecast period. This is attributed to rapid industrialization, urbanization, and significant investments in smart grid projects across countries like China, India, and Japan. The Middle East & Africa and Latin America are also emerging markets, with increasing focus on renewable energy and infrastructural developments.

Type Analysis

The electricity trading platform market by type encompasses Day-Ahead Trading, Intraday Trading, Balancing Market, and Others. Day-Ahead Trading is one of the most prevalent types, where market participants commit to buy or sell quantities of electricity for the next day. This type of trading allows for better planning and scheduling of power generation and consumption, thereby enhancing grid stability. The increasing complexity of balancing supply and demand due to the integration of renewable energy sources has bolstered the need for efficient day-ahead trading mechanisms.

Intraday Trading, on the other hand, deals with the trading of electricity within the same day. This type of trading is gaining traction due to its ability to provide more flexibility and responsiveness to sudden changes in electricity demand or supply. With the rising penetration of variable renewable energy sources like solar and wind, intraday trading is becoming crucial for maintaining grid reliability and avoiding imbalances. The ability to make quick adjustments in response to real-time market signals makes it an essential component of modern electricity markets.

The Balancing Market is designed to ensure that the supply and demand of electricity are balanced in real-time. It plays a critical role in maintaining the stability and reliability of the power grid. Participants in the balancing market provide ancillary services such as frequency regulation and reserve power to mitigate short-term discrepancies between supply and demand. With the increasing penetration of intermittent renewa