Global Electricity Demand Expected to Surge by 2027
The International Energy Agency forecasts a nearly 4% annual rise in electricity consumption, driven by industrial growth and electrification in emerging economies.
- The International Energy Agency (IEA) predicts global electricity demand will grow by nearly 4% annually through 2027, with 85% of the increase coming from emerging and developing countries.
- China is leading the surge, with electricity consumption rising by 7% in 2024 and projected to grow by an average of 6% annually through 2027, fueled by industrial production and rapid electrification.
- Key drivers of the rising demand include the expansion of data centers, increased use of electric vehicles, and greater adoption of air conditioning systems in warmer regions.
- Renewable energy sources, particularly solar power, are expected to meet half of the global demand growth, with nuclear energy also seeing a resurgence in several countries.
- Despite the growth of low-emission energy sources, the use of fossil fuels in electricity generation is expected to stagnate rather than decline, with CO2 emissions from power generation remaining high.
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