The IEA's flagship World Energy Outlook , published every year, is the most authoritative global source of energy analysis and projections. It identifies and explores the biggest trends in energy demand and supply, as well as what they mean for energy security, emissions and economic development.
This year’s Outlook comes against a backdrop of escalating risks in the Middle East and heightened geopolitical tensions globally, and explores a range of energy security issues that decision makers face as they proceed with clean energy transitions. With rising investment of clean technologies and rapid growth in electricity demand, the WEO 2024 examines how far the world has come on its journey towards a safer and more sustainable energy system, and what more needs to be done to reach its climate goals.
Reflecting today’s uncertainties, our three main scenarios are complemented with sensitivity cases for renewables, electric mobility, liquefied natural gas and how heatwaves, efficiency policies and the rise of artificial intelligence might affect the outlook for electricity.
Organizations mentioned
- Pages
- 12
- Published in
- France
Files
Table of Contents
- Energy security risks remain high even as market balances ease 2
- Capacities and utilisation in the Stated Policies Scenario 2
- 2023 2030 2
- 200 2
- 400 2
- 600 2
- 800 2
- 1 000 2
- 2023 2030 2
- 400 2
- 800 2
- 1 200 2
- 1 600 2
- 2 000 2
- 2023 2030 2
- 1 500 2
- 3 000 2
- 4 500 2
- 6 000 2
- 7 500 2
- 2023 2030 2
- GWh 2
- China 2
- Depends on Strait of Hormuz Utilisation Rest of world Deployment 2
- Oil demands engine is switching to electricity 3
- As China scales up electric mobility India Southeast Asia and Africa are the main sources of growth in oil use to 2035. 3
- 100 3
- 105 3
- 2015 2023 2030 2035 3
- North America 3
- Europe 3
- China 3
- Middle East 3
- Africa 3
- Southeast Asia 3
- India 3
- Change in oil demand in selected regions 3
- -5 0 5 3
- 2023-2035 3
- Even if projected uptake of electric vehicles slows in key markets a peak in oil demand remains on the horizon 3
- Global oil demand mbd 3
- Oil demands engine is switching to electricity 4
- As China scales up electric mobility India Southeast Asia and Africa are the main sources of growth in oil use to 2035. 4
- 100 4
- 105 4
- 2015 2023 2030 2035 4
- Even if projected uptake of electric vehicles slows in key markets a peak in oil demand remains on the horizon 4
- Global oil demand mbd 4
- -50 0 50 100 5
- Southeast Asia 5
- India 5
- China 5
- European Union 5
- Japan 5
- Where will the new wave of LNG go 5
- LNG capacity and trade 5
- 300 5
- 600 5
- 900 5
- 2015 2020 2023 2030 2035 5
- Change in LNG demand by region 5
- 2015-2023 5
- 2023-2035 6
- -50 0 50 100 6
- Southeast Asia 6
- India 6
- China 6
- European Union 6
- Japan 6
- Where will the new wave of LNG go 6
- LNG capacity and trade 6
- 300 6
- 600 6
- 900 6
- 2015 2020 2023 2030 2035 6
- Change in LNG demand by region 6
- Not all projected supplies are abundant 7
- Mineral supply requirements and expected supply from existing and announced projects 7
- Copper 7
- 0.3 7
- 0.6 7
- 0.9 7
- Demand net of recycling 7
- Lithium 7
- Mt Li 7
- 0.12 7
- 0.24 7
- 0.36 7
- Cobalt 7
- Graphite 7
- Nickel 7
- Supply from existing and announced projects 7
- 2023 2035 2023 2035 2023 2035 2023 2035 2035 2023 7
- 2023 2035 STEPS 8
- Chinas electrification jolts energy markets again 8
- China oil demand 8
- China coal demand Thousand Mtce 8
- China electrification rate of final consumption 8
- 2023 2035 STEPS 8
- 2023 2035 8
- STEPS 8
- Electricity is growing faster than all other energy sources and its growing across a wide range of economies 9
- Annual electricity demand growth TWh 9
- 500 9
- 1 000 9
- 2010-23 2023-35 2010-23 2023-35 9
- Moving at speed into the Age of Electricity 9
- Annual demand growth in STEPS 9
- 1.5 9
- 3.0 9
- Energy Electricity Energy Electricity 9
- 2010-23 2023-35 9
- 2010 2023 2035 10
- Thousand TWh 10
- Solar PV and wind hit their stride and become the largest sources of electricity before 2035 in STEPS complementing other clean sources like hydro and nuclear and pushing coal into decline 10
- Electricity use is growing fast clean power is rising even faster 10
- World electricity generation 10
- 1 500 11
- 3 000 11
- 2030 2035 11
- 2024-30 2031-35 11
- An imminent peak in emissions but not yet a rapid decline 11
- Global energy related CO emissions Gt CO 11
- Storage capacity 11
- Grids built and refurbished 11
- 2010 2035 11
- Key enablers of the COP28 energy goals 11
- Policies and market trends are strong enough to deliver an imminent peak in global emissions 11