Global Energy Demand Set to Jump 60% by 2060 as Developing Nations Power Up
India’s Russian Oil Imports Slide as Refiners Hunt for Alternatives Haley Zaremba is an energy journalist and researcher with more than a decade of professional experience covering global energy systems, land and natural resources, and… Emerging economies are going to see an explosion of energy demand over the coming decades.
Countries like Brazil, India, Nigeria, and Indonesia are racing to expand their energy production and imports in order to keep up with rapid economic development.
While the leaders of these and other emerging economies are making a concerted effort to expand their renewable energy capacity, meeting demand will require an all-of-the-above approach to energy that will extend the life of oil and gas, according to a newreportfrom S&P Global.
According to the study, published last week, emerging economies could increase the world’s total energy demand by more than 60 percent by 2060.
“That’s comparable to adding another China to world consumption,” a recent Marketplacereportillustrates.
Speaking of China, the global superpower has become, by a gaping margin, the world’s biggest manufacturer of the clean energy infrastructure that is going to power a lot of that growth.
Many of the world’s developing countries have seen their solar power installations skyrocket in recent months thanks to aflood of cheap clean energy techcoming out of China, paired with volatility in oil and gas markets driven by the closure of the Strait of Hormuz.
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Against this backdrop, emerging economies have emerged as the new face of the renewable revolution.
Over the last several years, countries including Brazil, Chile, El Salvador, Morocco, Kenya, and Namibia have overtaken the world’s largest economy in their clean energy transitions.
As of the close of 2025,63 percentof emerging markets in Africa, Asia, and Latin America sourced more of their power generation from solar power than the United States.
But while a renewable revolution is picking up speed in the Global South, S&P says not to expect a clean energy takeover.
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