Global primary energy consumption has increased dramatically in recent years and is projected to continue to increase until 2045. Only hydropower and renewable energy consumption are expected to increase between 2045 and 2050 and reach 30 percent of the global energy consumption. Energy consumption by country The distribution of energy consumption globally is disproportionately high among some countries. China, the United States, and India were by far the largest consumers of primary energy globally. On a per capita basis, it was Qatar, Singapore, the United Arab Emirates, and Iceland to have the highest per capita energy consumption. Renewable energy consumption Over the last two decades, renewable energy consumption has increased to reach over 90 exajoules in 2023. Among all countries globally, China had the largest installed renewable energy capacity as of that year, followed by the United States.

China was the largest energy consumer worldwide in 2022, and is expected to keep this leading rank until 2050, with an energy consumption amounting to 171.5 and 195.4 quadrillion British thermal units, respectively. By comparison, South Korea is expected to consume nearly 14.3 quadrillion British thermal units of energy in 2050.

Global energy consumption is on an upward trajectory, with projections indicating a substantial increase from 637.8 quadrillion British thermal units in 2022 to 813.6 quadrillion British thermal units by 2050. This growth reflects the world's increasing energy needs, driven by population growth, economic development, and technological advancements. Shifting energy landscape While fossil fuels currently dominate the energy mix, accounting for nearly 70 percent of global primary energy demand in 2022, a significant shift is expected in the coming decades. Renewable energy sources are projected to play an increasingly important role, with electricity generation from renewables expected to almost triple between 2022 and 2050. This transition is crucial for addressing climate change concerns and reducing carbon emissions. Regional disparities and future outlook Energy consumption patterns vary significantly across regions and economic development levels. In 2022, emerging economies, including China, consumed almost 400 exajoules of energy, compared to about 200 exajoules in developed countries. China is expected to maintain its position as the world's largest energy consumer by 2050. As global energy demand continues to rise, the challenge lies in balancing economic growth with sustainable energy practices and reducing reliance on fossil fuels.

According to a recent forecast, global electricity consumption will range between 31,000 and 36,000 terawatt-hours in 2030 and between 52,000 and 71,000 terawatt-hours in 2050, depending on the energy transition scenario. However, to keep the global temperature increase below 1.5 degrees Celsius, the total electricity consumption in the world should be at 40,000 terawatt-hours in 2030, a result that is not likely to be achieved even if the current energy transition commitments are achieved (Achieved Commitments scenario).

Primary energy consumption is forecast to reach roughly 364 million barrels of oil equivalent per day by 2045. Oil and gas are expected to maintain their dominant role in the global energy sector, with a contribution of approximately 110 and 90 million barrels of oil equivalent per day, respectively. Which country consumes the most energy? Since the beginning of the 21st century, there has been a general upward trend in the usage of primary energy. In 2023, approximately 620 exajoules of primary energy were consumed globally. China was the leading primary energy consumer in the world, consuming around 170.7 exajoules, while the United States came in second position.
Fossil fuels' ongoing dependence Global primary energy consumption is dominated by fossil fuels, despite a steady shift toward sustainable alternatives. Although the share of fossil fuels in the energy mix has been decreasing, renewable energy is still not sufficient to meet the current and future energy demand.

According to Cognitive Market Research, the worldwide Energy Management Systems market will be USD 57.31 billion in 2024 and will expand at a compounded annual growth rate (CAGR) of 14.3% from 2024 to 2031. Market Dynamics of Energy Management Systems Market

Key Drivers for Energy Management Systems Market

Government initiatives to combat climate change and improve energy efficiency - Energy-efficient factories use less energy to make things, and power-efficient dwellings and structures use less energy for cooling, heating, and power appliances and electronics. Organizations are understanding the value of advertising their energy conservation measures as the Go Green movement gains traction. Establishing themselves as an environmentally conscious business gives them a competitive advantage by fostering consumer trust and community recognition. Leading international corporations are now deeply committed to sustainable energy and are concentrating on becoming environmentally friendly.
In the ensuing decades, digital technology will revolutionize the global energy system, bringing forth increased connectivity, dependability, and sustainability. Massive data sets, pervasive connectivity, and advances in AI are opening up new commercial opportunities and applications.

Key Restraints for Energy Management Systems Market

Every industry seeks to reduce its expenditures on consumption. Energy management systems are needed to track the energy usage of various machinery and plants. While implementing it may result in significant long-term cost and energy savings, significant upfront investments are necessary.
The main issue with energy efficiency is that small and medium-sized enterprises around the world are largely unaware of it. They are reluctant to spend money on energy-saving devices and need to be made aware of the advantages and policies that energy management systems can help them achieve.

Introduction of the Energy Management Systems Market

Power transmission system operation can be observed, evaluated, and optimized with the use of an EMS. Numerous sectors and EMS implementations use this system extensively. A surge in strategic investments to control energy usage has led to an increase in demand across public, commercial, residential, and industrial sectors of businesses. Regional governments all over the world have passed several rules and regulations to lower energy usage and raise public awareness of energy conservation. The EMS market is propelled forward by these laws and policies in sectors including the commercial, residential, and industrial ones. Governments in several nations are pursuing decarbonization, which entails many procedures. Many nations have implemented or are in the process of implementing energy consumption and carbon footprint reduction guidelines and rules in response to the sharp increase in carbon emission rates. Reducing carbon footprints at a reasonable cost can be achieved through efficient energy utilization.

Jordan JO: Renewable Energy Consumption: % of Total Final Energy Consumption data was reported at 3.229 % in 2015. This records an increase from the previous number of 3.131 % for 2014. Jordan JO: Renewable Energy Consumption: % of Total Final Energy Consumption data is updated yearly, averaging 2.332 % from Dec 1990 (Median) to 2015, with 26 observations. The data reached an all-time high of 3.229 % in 2015 and a record low of 1.688 % in 2005. Jordan JO: Renewable Energy Consumption: % of Total Final Energy Consumption data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Jordan – Table JO.World Bank: Energy Production and Consumption. Renewable energy consumption is the share of renewables energy in total final energy consumption.; ; World Bank, Sustainable Energy for All (SE4ALL) database from the SE4ALL Global Tracking Framework led jointly by the World Bank, International Energy Agency, and the Energy Sector Management Assistance Program.; Weighted Average;

Power Generation Market size was valued at around USD 1651.06 Billion in 2024 and is projected to reach USD 2189.3 Billion by 2031, growing at a CAGR of 3.59% from 2024 to 2031.

Power Generation Market Drivers

Energy Demand Growth: Increasing global population and industrial activities drive the demand for energy. Economic development, particularly in emerging markets, leads to higher energy consumption.

Fuel Prices: The cost of fuel, such as coal, natural gas, and oil, significantly affects the economics of power generation. Fluctuations in fuel prices can influence the choice of power generation technology.

Investment and Financing: Availability of capital and investment for building new power plants and upgrading existing infrastructure is crucial. Economic incentives, subsidies, and the cost of capital can drive or hinder investment in power generation.

Forecast: World Primary Energy Consumption 2022 - 2026 Discover more data with ReportLinker!

OECD Americas was the largest energy consumer in 1990, with a consumption of 110.7 quadrillion British thermal units. By 2020, non-OECD Asia was the largest consumer region worldwide and is expected to remain the leading consumer region by 2050, with a consumption of roughly 230 and 403 quadrillion British thermal units, respectively.

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

Impact of Covid-19 on the E...

United Kingdom UK: Fossil Fuel Energy Consumption: % of Total data was reported at 80.712 % in 2015. This records a decrease from the previous number of 82.634 % for 2014. United Kingdom UK: Fossil Fuel Energy Consumption: % of Total data is updated yearly, averaging 91.593 % from Dec 1960 (Median) to 2015, with 56 observations. The data reached an all-time high of 99.465 % in 1960 and a record low of 80.712 % in 2015. United Kingdom UK: Fossil Fuel Energy Consumption: % of Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Energy Production and Consumption. Fossil fuel comprises coal, oil, petroleum, and natural gas products.; ; IEA Statistics © OECD/IEA 2014 (http://www.iea.org/stats/index.asp), subject to https://www.iea.org/t&c/termsandconditions/; Weighted average; Restricted use: Please contact the International Energy Agency for third-party use of these data.

United States US: Renewable Energy Consumption: % of Total Final Energy Consumption data was reported at 8.717 % in 2015. This records a decrease from the previous number of 8.754 % for 2014. United States US: Renewable Energy Consumption: % of Total Final Energy Consumption data is updated yearly, averaging 5.454 % from Dec 1990 (Median) to 2015, with 26 observations. The data reached an all-time high of 8.754 % in 2014 and a record low of 4.089 % in 1994. United States US: Renewable Energy Consumption: % of Total Final Energy Consumption data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Energy Production and Consumption. Renewable energy consumption is the share of renewables energy in total final energy consumption.; ; World Bank, Sustainable Energy for All (SE4ALL) database from the SE4ALL Global Tracking Framework led jointly by the World Bank, International Energy Agency, and the Energy Sector Management Assistance Program.; Weighted Average;

The Energy Policies of IEA Countries contains projections for IEA countries that are collected directly from the Member Countries for the series on Energy Policies of IEA Countries. The assumptions used to compile these forecasts vary depending on the country and are not documented centrally by the IEA. These forecasts are not part of the World Energy Outlook model. Energy balances are provided for supply and consumption in million tonnes of oil equivalent (Mtoe). Definitions of products and flows, explanatory notes on the individual country data, indicators (including GDP and population) are included. Where available, data are given for 1960, 1970, 1980, 1990, 2000, 2010, 2013, 2014, 2015, 2020, 2030, 2040 and 2050.

Wind Power Generators Market size was valued at USD 27574.21 Million in 2024 and is projected to reach USD 44679.79 Million by 2031, growing at a CAGR of 6.86% from 2024 to 2031.

Global Wind Power Generators Market Drivers

The market drivers for the Wind Power Generators Market can be influenced by various factors. These may include:

Policies & Incentives from the Government: Investment in wind power generation is encouraged by subsidies, tax credits, and feed-in tariffs from the government. The need for wind power is being driven by the numerous nations that have set targets for carbon reduction and renewable energy.
Environmental Concerns and Regulations: The usage of renewable energy sources, such as wind power, is being driven by growing awareness of climate change and the need to minimise greenhouse gas emissions. A big part of encouraging wind energy is also played by regulations meant to cut carbon emissions.
Technological Developments: The cost of producing wind power has decreased and its competitiveness with traditional energy sources has increased due to advancements in wind turbine technology, which include bigger rotor diameters, taller towers, and increased efficiency.
Cost Competitiveness: In areas with abundant wind resources, particularly, wind power has grown more and more cost-competitive with traditional energy sources like coal and natural gas. Wind energy is becoming more and more appealing to utilities and investors as its cost drops.
Energy Security: By diversifying the energy mix and lowering dependency on imported fossil fuels, wind power helps to provide energy security. This is especially crucial in areas where there aren’t many local energy resources.
Corporate Sustainability Objectives: In an effort to lessen their carbon footprint, a lot of firms are establishing challenging sustainability objectives and pursuing the purchase of renewable energy. Investments in wind power projects are being driven by the corporate desire for green energy sources.
Grid Integration and Energy Storage: Increased grid penetration of wind power is being made possible by developments in grid integration technologies and energy storage solutions. The increased stability and dependability of the electrical grid due to this flexibility encourages more people to use wind energy.
Economic Development and Job Creation: The wind power sector boosts regional economic growth by generating jobs in operations, manufacturing, and construction. Policymakers frequently use this economic benefit as justification for encouraging the growth of wind energy.
Growth in Global Energy Demand: More capacity for producing power is required as the world’s energy demand rises. In especially in emerging economies, wind power provides a scalable and sustainable way to meet this expanding need.
Public Acceptance and Support: As worries about air pollution, energy independence, and the environmental effects of fossil fuel extraction and burning have grown, so has public support for renewable energy sources, such as wind power. The effective development of wind energy plants is contingent upon public acceptability.

Oman OM: Renewable Energy Consumption: % of Total Final Energy Consumption data was reported at 0.000 % in 2015. This stayed constant from the previous number of 0.000 % for 2014. Oman OM: Renewable Energy Consumption: % of Total Final Energy Consumption data is updated yearly, averaging 0.000 % from Dec 1990 (Median) to 2015, with 26 observations. Oman OM: Renewable Energy Consumption: % of Total Final Energy Consumption data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Oman – Table OM.World Bank: Energy Production and Consumption. Renewable energy consumption is the share of renewables energy in total final energy consumption.; ; World Bank, Sustainable Energy for All (SE4ALL) database from the SE4ALL Global Tracking Framework led jointly by the World Bank, International Energy Agency, and the Energy Sector Management Assistance Program.; Weighted average;

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.

Thailand TH: Fossil Fuel Energy Consumption: % of Total data was reported at 79.753 % in 2014. This records a decrease from the previous number of 80.667 % for 2013. Thailand TH: Fossil Fuel Energy Consumption: % of Total data is updated yearly, averaging 69.300 % from Dec 1971 (Median) to 2014, with 44 observations. The data reached an all-time high of 82.057 % in 2004 and a record low of 42.341 % in 1975. Thailand TH: Fossil Fuel Energy Consumption: % of Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Thailand – Table TH.World Bank: Energy Production and Consumption. Fossil fuel comprises coal, oil, petroleum, and natural gas products.; ; IEA Statistics © OECD/IEA 2014 (http://www.iea.org/stats/index.asp), subject to https://www.iea.org/t&c/termsandconditions/; Weighted average; Restricted use: Please contact the International Energy Agency for third-party use of these data.

Forecast: Fossil Energy Consumption in International Aviation in Germany 2024 - 2028 Discover more data with ReportLinker!

Estonia EE: Fossil Fuel Energy Consumption: % of Total data was reported at 12.294 % in 2015. This records a decrease from the previous number of 14.490 % for 2014. Estonia EE: Fossil Fuel Energy Consumption: % of Total data is updated yearly, averaging 28.625 % from Dec 1990 (Median) to 2015, with 26 observations. The data reached an all-time high of 43.737 % in 1990 and a record low of 12.294 % in 2015. Estonia EE: Fossil Fuel Energy Consumption: % of Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Estonia – Table EE.World Bank: Energy Production and Consumption. Fossil fuel comprises coal, oil, petroleum, and natural gas products.; ; IEA Statistics © OECD/IEA 2014 (http://www.iea.org/stats/index.asp), subject to https://www.iea.org/t&c/termsandconditions/; Weighted average; Restricted use: Please contact the International Energy Agency for third-party use of these data.