, APAC
Photo by Pixabay: https://www.pexels.com/photo/white-electric-tower-207541/

China, India to lead power demand growth

The industrial sector will push the demand for the two Asian nations.

China, India, and North America are expected to drive the growth in power demand as they will account for over half of the global total increase in demand, according to a report by McKinsey.

China’s powered demand reached 8,000 terawatt-hours (TWh) in 2022 and is expected to reach 16,800 TWh by 2050, driven by industrial electrification.

India, whose power demand stood at 1,400 TWh in 2022, will grow to 6,900 TWh by 2050, driven also by industrial growth, whilst the building sector will comprise 30% of the growth due to the higher demand for cooling.

ALSO READ: China’s solar production costs down 42%

North and Central America, meanwhile, will also increase to 10,500 TWh by 2050 from 4,900 TWh in 2022, supported by green hydrogen in the short and long term due to the recent government support, whilst the electrified transport will comprise around 30% of the growth.

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!

Top News

India’s Rajasthan and Gujarat need policy reforms to fuel RE transition
Some steps they could take are implementing green tariffs and setting infrastructure funds.
Global clean energy tech market to hit $2t by 2035
This is fuelled by investments as countries aim to enhance energy security.The global clean energy technology market is projected to grow from $700b in 2023 to over $2t by 2035, nearing the scale of the crude oil market, according to the International Energy Agency (IEA).This growth is fuelled by significant investments in clean technology manufacturing as countries aim to enhance energy security, maintain economic competitiveness, and cut emissions. Investment is concentrated in regions with established positions in clean energy, particularly China, the European Union, the UK, and increasingly, India.Whilst the US, EU, and India have taken measures to support their clean energy sectors, China is expected to remain the world's manufacturing hub. By 2035, China's clean technology exports are forecasted to exceed $340b—comparable to projected oil export revenues from Saudi Arabia and the UAE.Southeast Asia, Latin America, and Africa contribute less than 5% of global cleantech production value, yet the IEA suggests that these areas still hold opportunities within the clean energy economy. Developing economies, for instance, could leverage competitive advantages to advance in the value chain beyond resource extraction.The IEA said Southeast Asia could become one of the most cost-effective regions for producing polysilicon and wafers for solar panels over the next decade.

Exclusives

Coal-dependent ASEAN told to scale up RE generation
A regional power grid could help governments in their renewable energy transition.
Indonesia told to tap communities in clean energy transition
Solar and wind power managed by villages could generate 96 million jobs over 25 years.
Indonesia to add 90 MW geothermal capacity
Three power plants in West and East Java and North Sumatra will start operating this year.