Reports related to this article:
Project(s): View 1 related project in PECWeb
Plant(s): View 1 related plant in PECWeb
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Global renewable-energy consumption will more than double by 2050, accounting for 27% of all energy consumption by then, if current policy and technology trends continue, according to projections in the U.S. Energy Information Administration's (EIA) newly released "International Energy Outlook 2021." Even so, carbon dioxide (CO2) emissions will continue to rise, driven by burgeoning economies and population growth.
Industrial Info is tracking more than $4.6 trillion worth of renewable power-generation projects across the globe in various stages of planning, engineering and construction.
Click on the image at right for a graph showing renewable project activity by world region.
In a presentation on Wednesday, EIA Acting Administrator Stephen Nalley said, "If these current trends continue, we project that global energy use will increase by nearly 50% by 2050."
In the EIA's reference case, global energy consumption will increase from about 600 quadrillion British thermal units (Btu) in 2020 to 900 quadrillion Btu by 2050, largely driven by Asian economic growth.
The outlook includes the impact of COVID-19. Overall energy consumption by the Organisation for Economic Co-operation and Development's (OECD) 38 member countries won't recover to pre-pandemic levels until 2030, while consumption by non-OECD countries will bounce back by 2022, driven by economic recovery in the transportation and industrial sectors.
Click on the image at right for an EIA graph showing the projected return of energy use to pre-pandemic levels.
Non-OECD economic and population growth, particularly in Asia, will drive most of the increase in energy consumption through 2050, according to the projection. The global population is projected to increase by about 2 billion by that time.
At the same time, energy-related CO2 emissions will grow from less than 35 billion metric tons in 2020 to about 43 billion metric tons in 2050.
EIA Assistant Administrator for Energy Analysis Angelina LaRose said that while CO2 emissions are projected to remain largely flat in the OECD countries, they greatly increase in non-OECD countries, from about 21 billion tons in 2020 to about 30 billion tons in 2050.
On the other hand, electric vehicle sales will grow through 2050, making up 31% of all passenger vehicles.
"In OECD Europe, we project that about 80% of light-duty passenger vehicles sales in 2050 will be electric," LaRose said. Sales of internal combustion-powered passenger vehicles peak in 2023 for OECD countries, and in 2038, globally, according to the projection.
One of the more substantial electric vehicle projects under construction is Ford Motor Company's (NYSE:F) (Dearborn, Michigan) automotive assembly plant expansion in Cologne, Germany. As part of Ford's plan to exclusively produce electric vehicles from 2030 onward, the project at the existing plant includes construction of a nearly 27,000-square-foot assembly hall with production and assembly lines in order to produce electric vehicles in the second half of 2023. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a detailed a detailed project report.
Liquid fuels, primarily petroleum, remain the largest source of primary energy in the reference case, but renewables use grows to nearly the same level by 2050. Oil and natural gas production will continue to grow, mainly to support increasing energy consumption in developing Asian economies. In the reference case, by 2050, non-OECD Asia will become the largest importer of natural gas, and Russia will become the largest net exporter. Industrial Info is tracking more than $113 billion worth of active liquefied natural gas (LNG) terminal projects in Asia. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Terminal Project Database can click here for a list of detailed project reports.
Coal's share in the global energy mix will steadily decline from 25% to 20% by 2025, but will remain a significant player, partially as a result of expansion of coal-reliant industries in places like India. Industrial Info is tracking nearly 3,000 active coal and anthracite mining projects in Asia, worth $168 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a list of detailed project reports.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
Industrial Info is tracking more than $4.6 trillion worth of renewable power-generation projects across the globe in various stages of planning, engineering and construction.
In a presentation on Wednesday, EIA Acting Administrator Stephen Nalley said, "If these current trends continue, we project that global energy use will increase by nearly 50% by 2050."
In the EIA's reference case, global energy consumption will increase from about 600 quadrillion British thermal units (Btu) in 2020 to 900 quadrillion Btu by 2050, largely driven by Asian economic growth.
The outlook includes the impact of COVID-19. Overall energy consumption by the Organisation for Economic Co-operation and Development's (OECD) 38 member countries won't recover to pre-pandemic levels until 2030, while consumption by non-OECD countries will bounce back by 2022, driven by economic recovery in the transportation and industrial sectors.
Non-OECD economic and population growth, particularly in Asia, will drive most of the increase in energy consumption through 2050, according to the projection. The global population is projected to increase by about 2 billion by that time.
At the same time, energy-related CO2 emissions will grow from less than 35 billion metric tons in 2020 to about 43 billion metric tons in 2050.
EIA Assistant Administrator for Energy Analysis Angelina LaRose said that while CO2 emissions are projected to remain largely flat in the OECD countries, they greatly increase in non-OECD countries, from about 21 billion tons in 2020 to about 30 billion tons in 2050.
On the other hand, electric vehicle sales will grow through 2050, making up 31% of all passenger vehicles.
"In OECD Europe, we project that about 80% of light-duty passenger vehicles sales in 2050 will be electric," LaRose said. Sales of internal combustion-powered passenger vehicles peak in 2023 for OECD countries, and in 2038, globally, according to the projection.
One of the more substantial electric vehicle projects under construction is Ford Motor Company's (NYSE:F) (Dearborn, Michigan) automotive assembly plant expansion in Cologne, Germany. As part of Ford's plan to exclusively produce electric vehicles from 2030 onward, the project at the existing plant includes construction of a nearly 27,000-square-foot assembly hall with production and assembly lines in order to produce electric vehicles in the second half of 2023. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a detailed a detailed project report.
Liquid fuels, primarily petroleum, remain the largest source of primary energy in the reference case, but renewables use grows to nearly the same level by 2050. Oil and natural gas production will continue to grow, mainly to support increasing energy consumption in developing Asian economies. In the reference case, by 2050, non-OECD Asia will become the largest importer of natural gas, and Russia will become the largest net exporter. Industrial Info is tracking more than $113 billion worth of active liquefied natural gas (LNG) terminal projects in Asia. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Terminal Project Database can click here for a list of detailed project reports.
Coal's share in the global energy mix will steadily decline from 25% to 20% by 2025, but will remain a significant player, partially as a result of expansion of coal-reliant industries in places like India. Industrial Info is tracking nearly 3,000 active coal and anthracite mining projects in Asia, worth $168 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a list of detailed project reports.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
