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The BP Energy Outlook evaluates different aspects of the energy transition and highlights key issues and uncertainties of the transition. In all the scenarios considered, world GDP more than doubles by 2040, driven by increasing prosperity in fast-growing developing economies.
In the 'evolving transition' scenario this improvement in living standards causes energy demand to increase by around a third over the outlook period, driven by India, China, and 'Other Asia,' which together account for two-thirds of the increase. Despite this increase in energy demand, around two-thirds of the world’s population in 2040 still live in countries where average energy consumption per head is relatively low, highlighting the need for ‘more energy’.
The world continues to electrify, with around three-quarters of the increase in primary energy absorbed by the power sector. Other projections covered by the Energy Outlook to 2040:
The Energy Data Brief offers key statistics designed to help energy market watchers anticipate and respond to developments in the energy sector as well as changes in related industries and investments.
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