The Energy Consumption of India to Race Ahead of Major Economies
BP Energy Outlook stated that the energy consumption of India is all set to grow by 4.2 percent every year by 2035 which will be faster than the major economies of the world. India has been the second biggest consumer of energy in Asia since 2008 and in 2015, the country had overtaken Japan to become the 3rd largest oil consuming country behind the US and China.
BP Energy Outlook, the publication also stated that by 2035, India’s energy consumption will grow the fastest among the major economies of the world. In terms of volume, India will overtake China as the largest energy growth market by 2030.
The energy demand will increase globally by thirty percent by the year 2035. Also, consumption of natural gas will grow faster than coal or oil, at an expansion rate of 1.6 percent every year. The report also stated that, the peak demand for coal will be in the middle of 2020 with China moving towards cleaner, lowercarbon fuels.
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