2.2: World Energy Outlook

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The world energy requirements are projected by several energy companies, including British Petroleum and Exxon Mobil, as well as international agencies like the International Energy Agency (IEA) and the U.S. Energy Information Administration (EIA). The U.S. Department of Energy projects strong growth for worldwide energy demand over the 28-year projection period from 2012 to 2040. Although these projections are based on the same principles, they differ slightly. Further details on each organization can be found in the links below.

According to the International Energy Outlook 2019,

Manufacturing centers are shifting towards Africa and South Asia, especially India, resulting in increased energy consumption. Most economic growth occurs in non-OECD (Organisation for Economic Co-operation and Development) countries, where the GDP per person nearly triples from 2018 to 2050.
The total world energy consumption is likely to increase from 591 quadrillion BTUs in 2016 to 910 quadrillion BTUs in 2040 (a 54% increase).
The most energy-intensive manufacturing have shifted to non-OECD Asia and, increasingly, to India.

The world's GDP (expressed in purchasing power parity terms) is projected to rise by 2.4% per year from 2018 to 2040, with the fastest growth rates occurring in emerging, non-OECD countries where combined GDP is predicted to increase by 3.5% per year. In OECD countries, GDP is set to grow at a much slower rate of 1.5% per year from 2018 to 2040.

Fun Fact

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.