A new report from S&P Global projects that emerging economies including Brazil, India, Nigeria, and Indonesia will drive a significant increase in worldwide energy consumption over the coming decades. The study indicates that energy demand from these developing nations could rise by more than 60 percent by 2060, equivalent to adding another China-sized economy to global consumption levels.
While many emerging markets are expanding their renewable energy capacity, analysts stress that meeting this demand will necessitate reliance on multiple energy sources, including continued use of oil and gas. China has become the dominant manufacturer of clean energy infrastructure, with falling costs of solar technology and supply chain disruptions in fossil fuel markets accelerating renewable installations across developing regions. Several countries in Africa, Asia, and Latin America, including Brazil, Chile, Kenya, and Morocco, have already achieved higher shares of solar power generation than the United States as of 2025.
However, experts caution against expectations that developing nations will transition entirely to renewable energy systems. Dan Yergin, vice chairman of S&P Global, stated that coal and fossil fuels will remain components of the energy mix for longer than commonly anticipated. This trajectory presents challenges for global climate objectives, though developing economies argue they should not be required to “leapfrog” fossil fuel development stages that wealthier nations historically utilized for their own enrichment.
Advocates emphasize that energy demand growth in poorer regions represents a positive development tied to economic expansion, job creation, and rising living standards. Energy poverty remains severe in many developing nations, with consumption levels far below those in developed countries. This reality is complicated by increasing energy demands in wealthy nations driven by emerging technologies such as artificial intelligence, underscoring the complexity of balancing development needs with climate concerns globally.
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