Emerging Economies to Drive 60% Global Energy Demand Surge by 2060, S&P Global Says

Global energy demand will rise more than 60% by 2060, driven by rapid economic expansion in emerging economies including Brazil, India, Nigeria and Indonesia, according to an S&P Global report published in September 2026. S&P Vice Chairman Dan Yergin said the increase is "comparable to adding another China to world consumption." The growth will be met by a mix of energy sources rather than renewables alone, Yergin said, with coal, oil and natural gas remaining part of the demand picture "longer than many people think." China has become the dominant manufacturer of clean energy infrastructure, fueling a surge in solar installations across developing nations. As of the end of 2025, 63% of emerging markets in Africa, Asia and Latin America sourced more power generation from solar than the United States, S&P data show. Analysts cautioned that emerging economies still require substantial investment to scale clean energy and cannot wait for renewables to become cheaper before expanding their grids.