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World Energy Outlook 2024
October 25 , 2024
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- The report is published by the International Energy Agency (IEA) and provides key energy trends and projections.
- In 2023 alone, over 560 gigawatts (GW) of the renewable capacity were added globally.
- By 2030, the renewable energy is expected to become the dominant source of electricity, surpassing coal, oil, and gas.
- The global electric vehicle (EV) market is rapidly expanding, with EVs expected to account for 50% of new car sales by 2030.
- India is on track to become the third-largest economy in the world by 2028.
- By 2035, iron and steel production are on track to grow by 70%.
- The cement output is set to rise by nearly 55%.
- The stock of air conditioners is projected to grow by over 4.5 times.
- It will be resulting in electricity demand from air conditioners in 2035 more than Mexico’s total expected consumption that year.
- The total energy demand in India is set to increase by nearly 35% by 2035.
- Its electricity generation capacity will nearly triple to 1400 GW.
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