Energy

The global Energy Market is undergoing a structural transformation, balancing the dual challenge of rising energy consumption and the accelerated shift toward low-carbon solutions. In 2024, total primary energy supply stood at 14,800 Mtoe, with Asia-Pacific accounting for nearly 40% of demand, supported by industrial growth, urbanization, and higher electricity consumption. Conventional fuels, oil, natural gas, and coal, continue to anchor the energy mix; however, the share of renewables is expanding rapidly, underpinned by technology innovation, policy incentives, and large-scale investments in energy storage, smart grid deployment, and sustainable energy adoption. Global energy market in Europe and North America are prioritizing grid modernization, carbon emissions reduction, and electricity pricing reforms, while developing economies are expanding generation capacity and access to support industrialization and economic growth.

Regionally, India recorded a primary energy supply of 910 Mtoe (Million Tonnes of Oil Equivalent) in 2024, with final consumption at 597 Mtoe, dominated by industrial demand. The European Union produced 37% of its energy domestically, relying on imports for 63%, with a diversified portfolio of crude oil (37%), natural gas (21%), renewables (18%), solid fuels (13%), and nuclear (11%). These patterns highlight both the supply chain dependencies and the investment opportunities in efficiency improvement, renewable integration, and infrastructure expansion.

The Energy Market is expected to be defined by accelerated renewable deployment, innovation in energy storage technologies, and the electrification of transport and industry. Growth prospects are strongest in Latin America, Africa, and Southeast Asia, where infrastructure expansion and rural electrification are scaling rapidly, while advanced economies continue to lead on policy frameworks, decarbonization strategies, and digital energy management. Despite challenges including high capital intensity, regulatory complexity, and environmental risks, the sector is positioned to deliver resilient, secure, and future-ready energy infrastructure, driving climate goals, energy security, and industrial development through 2032.