Exxon Mobil has released the 2018 edition of the energy outlook report recently.

The energy outlook report is Exxon Mobil's view of energy demand and supply. The report predicts that it will last until 2040. We use this report to help companies formulate long-term strategies and investments.

Let's take a look at some of the key trends outlined in this year's report. These trends will play a decisive role in the future global energy landscape.

Energy is the driving force for modern economy and life

By 2030, the number of middle class people in the world will increase from 3 billion to about 5000000000. This growth is accompanied by a great improvement in the standard of living. With the development of modern commerce and the ownership of cars, household appliances and air conditioning rooms, the growth of energy consumption in many developing countries will be promoted.

Global energy demand has increased by about 25%, which is mainly led by non OECD countries.

Although energy efficiency will save part of energy, global energy demand is likely to increase by nearly 25%. Almost all of the growth has occurred in non OECD countries (such as China and India), which will probably grow to about 40% of energy demand, which is equivalent to the total energy consumption in the Americas.

In non OECD countries, electricity demand almost doubled.

Human activities are still inseparable from reliable power supply. From 2016 to 2040, global electricity demand will increase by about 60%, while in non OECD countries, this growth is expected to double.

Solar and wind power generation increased by about 400%

Solar and wind power generated the fastest growth in energy supply with a total growth of around 400%. By 2040, solar energy and wind power will probably double by three, thus reducing the intensity of carbon dioxide emitted by electricity by more than 30%.

Natural gas has more action to meet many needs

The abundance and diversity of natural gas make it a valuable source of energy to meet a wide range of needs, while helping the global transition to low carbon energy. The use of natural gas may increase even more than any other energy source. About half of its growth will be used for electricity generation.

Oil plays a leading role in increasing liquidity and helping modern products.

The increase in energy efficiency of more electric vehicles and conventional engines may make the liquid fuel used by the global light fuel vehicles peak in 2030. Nevertheless, with the growth of demand for commercial transportation and chemical industry, oil will still play a leading role in the global energy structure.

The global energy system will accelerate low carbonization

By the year 2040, global economic growth will almost double. Energy efficiency improvement and transformation to lower carbon energy will reduce the intensity of global GDP emissions by nearly 45%. Global energy related carbon dioxide emissions will probably peak in 2040, about 10% higher than that of 2016.