BAKU, Azerbaijan, October 11. Norway-based DNV, a recognized advisor for the maritime industry, has provided a comprehensive projection that indicates a remarkable surge in global electricity demand, signifying substantial shifts in the world's energy landscape, Trend reports.
Since the 1980s, the world has witnessed a consistent growth in electricity demand, aligning closely with economic expansion. According to DNV's insights, this trend is expected to continue, and by 2050, global electricity demand is projected to more than double from the 29.5 petawatt-hours (PWh) demanded in 2022 to an impressive 60.8 PWh in 2050. These figures encompass not only the energy sector's own consumption but also transmission and distribution losses, presenting a comprehensive view of the global electricity landscape.
What makes this projection even more intriguing is the revelation that electricity will play an even more significant role in the world's final energy demand by 2050. DNV's analysis indicates that electricity is poised to constitute 35% of the world's final energy demand by 2050, a significant increase from the 19.5% share it held in 2022. This surge is predominantly driven by the growing demand for existing applications and the emergence of entirely new categories of demand. Examples include the electrification of transport and innovative energy solutions, such as hydrogen production, which are shaping the energy landscape in profound ways.
In the industrial sector, electricity has become the powerhouse behind machines and appliances used in the production of a wide range of goods. Fluctuations in product demand, mirroring economic activities, directly impact electricity consumption. Simultaneously, the expanding global population and rising living standards are driving electricity use in buildings for various purposes, from lighting to entertainment. While there are notable efficiency gains, particularly in lighting, new consumption areas are emerging, notably in the domain of space heating and cooling. The adoption of heat pumps, which are highly efficient in transferring more heat than they consume, is projected to significantly amplify the demand for air conditioning, adding an estimated 5.9 PWh of annual electricity demand between 2022 and 2050.
Transportation is another major contributor to the impending surge in electricity demand, accounting for a substantial portion of the increase. DNV's analysis suggests that 5.9 PWh per year of the projected 31.3 PWh per year increase in demand will be attributed to transportation, primarily due to the charging requirements of an expected 2.6 billion electric vehicles (EVs).
Additionally, the manufacturing sector is experiencing a notable uptick in electricity demand, underscored by increased mechanization, particularly in rapidly growing economies. DNV's analysis offers a comprehensive view of the evolving energy landscape, pointing to the critical role of electricity in the world's future energy consumption patterns.
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