In 2040 China's Coal Consumption In Energy Consumption Will Fall To 35% 10 Apr 2019
(BP), a British oil company, released the 2019 Chinese version of the BP World Energy Outlook on April 9. Global energy demand grew by about 1/3 by 2040, with India, China and other Asian countries contributing 2/3 of the increase, the report said. During the outlook period, industrial and building energy consumption accounted for about 75% of the increase in energy consumption. As a result of accelerated vehicle efficiency, the growth in transport energy demand has slowed significantly compared with the past. With the growing importance of fully autonomous technology and shared travel services, the number of kilometers traveled by electric passenger cars will increase to 25% of all passenger vehicles by 2040.
The report also shows that oil demand increased in the first half of the outlook period by 2040 and then leveled off; global coal consumption was roughly flat. In order to meet the oil demand in 2040, more investment in new oil fields is needed. By 2040, the world will continue to electrify, and the power industry will consume about 75% of the world's primary energy increment.
The report also believes that renewable energy is the fastest-growing source of energy, and that by 2040, half of the increase in the world's energy supply will come from renewable energy, when renewable energy will become the largest source of electricity.
In addition, as China's energy structure continues to evolve, the share of coal will fall from 60% in 2017 to 35% in 2040, the report said. However, despite the slowdown in energy demand, China remained the world's largest energy consumer in 2040, accounting for 22% of global energy consumption, the report said. During the outlook period, China's energy intensity declined at an average annual rate of 3.4 %, faster than the historical decline of 3%.