, APAC
460 views

Energy consumption to rapidly grow 1.8% in 2024 driven by Asian demand

Asia’s energy demand will expand by 3.1% in 2024.

Energy demand is expected to get healthier as it reports an accelerated growth of 1.8% in 2024, up from 1.2% in 2023, an Economist Intelligence report showed.

“This will be supported by strong demand in Asia, where consumption is expected to expand by 3.1%, despite the clouds over China’s economic outlook,” read the statement.

For the rest of the world, the Middle East’s energy consumption will also be strong due to the warm climate, pushing demand for air conditioning.

“Energy demand in Europe, meanwhile, will record its third consecutive year of decline
as the region continues to battle against high energy prices and limited gas supply,” read the report. 

In North America and Latin America, meanwhile, growth will be marginal, where soft economic growth is expected. 

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Why Singapore could be the ‘tipping point’ for ASEAN renewable and grid development
Heavily reliant on gas, the country is still on track for its 2035 net-zero target, but could be more ambitious to hit its 2050 goal by 2045.
Power Utility
Will the government pay for coal power exit in Vietnam?
The country’s coal power phase-out strategy sees renewables accounting for 67.7%–71.5% of the energy mix by 2050.