Power consumption growth to boost renewables and LNG sectors in 2025

THE increasing draw on power grids, from car usage to data centre operations, will spotlight the renewable energy and liquified natural gas (LNG) sectors this year.

Globally, power consumption growth will hit a peak of 3.1 per cent on average in 2025 – the highest since 2021, according to research consultancy BMI.

Emerging markets in South-east Asia such as Indonesia will experience a growth rate of 4.8 per cent in 2024. Meanwhile, major developed markets such as France and Germany posted a negative consumption rate in 2024 due to slowing gross domestic product growth. As a result, developed markets are expected to prioritise decarbonising power sectors, via integrating renewable energy into the power mix.