# McKinsey’s Global Energy Report

**URL:** <https://discussion.fool.com/t/mckinsey-s-global-energy-report/71777>\
**Category:** Macro Economic Trends and Risks\
**Created:** [June 25, 2022, 6:42pm UTC](https://discussion.fool.com/t/mckinsey-s-global-energy-report/71777 "2022-06-25T18:42:56Z")\
**Posts on this page:** 1\
**Page:** 1

<div class="post-metadata">

**Author:** ![jaagu](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/jaagu/32/6160_2.png) [@jaagu](https://discussion.fool.com/u/jaagu)\
**Post date:** [June 25, 2022, 6:42pm UTC](https://discussion.fool.com/t/mckinsey-s-global-energy-report/71777/1 "2022-06-25T18:42:56Z")

</div>

McKinsey’s Global Energy Perspective April 2022 offers a detailed demand outlook across key dimensions

Here are some key points in this exhaustive analysis of global energy trends.

[https://www.mckinsey.com/~/media/McKinsey/Industries/Oil%20a…](https://www.mckinsey.com/~/media/McKinsey/Industries/Oil%20and%20Gas/Our%20Insights/Global%20Energy%20Perspective%202022/Global-Energy-Perspective-2022-Executive-Summary.pdf)

1. The global energy mix is projected to shift rapidly towards power and hydrogen. Share of electricity and hydrogen in final consumption may grow to 32% by 2035, and 50% by 2050

* * *

1. Renewables are expected to become the new baseload, accounting for 50% of the power mix by 2030 and 85% by 2050

* * *

1. Oil demand could peak in the next two to five years. Historically, oil demand was growing by 1—2  
MMb/d, half of which was through growth in road transport. While oil demand continues to recover  
post-COVID-19 in 2022 and 2023, the trends are projected to change from 2024 onwards.

The primary driver for reduced oil demand for road transport is the continued uptake of EVs:  
• Global EV sales grew 62% per annum on average in the last four years and by 96% in 2021 alone. EV sales in absolute terms increased from 2.3 million in 2019 to 6.6 million in 2021  
• EV sales in Europe accounted for more than 20% of total car sales in 2021; US EV sales only  
accounted for 5%, but doubled year on year

## Alongside this, the use of oil in power and heat is decreasing. In the buildings sector, a ban on new domestic oil heaters continues the decline in line with historical trends.

Much more good information in this report WRT all aspects of energy.

Jaak