Energy consumption to rise by 156%

India will become the world’s largest energy growth market by mid-2020s, accounting for over a quarter of incremental global demand, BP said in its annual energy outlook 2019.

India’s energy consumption will rise by 156% to 1,928 million tonnes of oil equivalent by 2040 from 754 million tonnes of oil equivalent in 2017. This at an annual growth of 4.2%.

Almost all of the growth in power demand stems from developing economies, led by China and India.

“India is the largest growth market for coal, with its share of global coal consumption more than doubling to around a quarter in 2040,” the BP energy outlook said. fiinews.com