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ExxonMobil Global Outlook: Our view to 2050

The Global Outlook is ExxonMobil’s view of energy demand and supply through 2050.

A foundation of our business plan, the analysis is based on a long-term assessment of:

• Economic trends
• Advances in technology
• Consumer behavior
• Climate-related public policy

Explore the Global Outlook 

Key takeaways

In 2050, the world will be different—vastly different.

To meet critical needs, the world will need to increase access to reliable, affordable energy from a broad set of solutions.

10 billion people by 2050

The population will increase at a rate of 1 million people every six days.

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15% increase in energy use

All of that growth will go toward raising living standards in the developing world.

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25% decline in emissions

By 2030, carbon emissions are projected to fall for the first time.

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4x increase of solar and wind in the total energy mix

Rapid growth in wind and solar will spur the biggest changes to the energy landscape.

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50% of energy demand still met by oil and natural gas

Oil and natural gas will remain an essential part of the global energy mix.

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10 billion people by 2050

The population will increase at a rate of 1 million people every six days.

Learn more 

15% increase in energy use

All of that growth will go toward raising living standards in the developing world.

Learn more 

25% decline in emissions

By 2030, carbon emissions are projected to fall for the first time.

Learn more 

4x increase of solar and wind in the total energy mix

Rapid growth in wind and solar will spur the biggest changes to the energy landscape.

Learn more 

50% of energy demand still met by oil and natural gas

Oil and natural gas will remain an essential part of the global energy mix.

Learn more 

Explore the Global Outlook

Energy demand drivers

• Affordable and reliable energy fuels economic development and modern living standards.
• Large energy disparity still exists between developed and developing countries.
• Growing energy consumption supports economic expansion, enabling longer, more productive lives for the growing global population.

Global Outlook

Energy transition progress

• By 2030, carbon emissions are projected to fall for the first time as economic activity expands.
• Hard-to-decarbonize commercial transportation and industrial activity will account for nearly half of the world’s emissions in 2050.
• Reducing emissions to achieve a below 2°C pathway will require supportive policy, technology innovation, and market incentives to drive faster deployment of all available solutions.

Energy mix projections

• Oil and natural gas remain the largest energy sources.
• Electricity use grows in all sectors, with generation from solar and wind growing the fastest.
• Coal is displaced by lower-emission sources, including both renewables and natural gas.
• Commercial transportation and industrial feedstocks drive continued demand for oil.

Energy demand trends

By 2050, growing population and rising prosperity in developing nations drives:

• Global electricity demand to nearly double.
• Energy demand for transportation to grow by more than 20%.
• Energy demand for industry to grow by 20%.

Energy supply

• The world’s demand for oil and natural gas remains strong.
• Oil and natural gas supply from existing wells naturally declines over time, making sustained investments more important than ever.
• Growing demand for LNG, driven by the Asia Pacific region, is underpinned by growing North America and Middle East supply.

Projections vs. scenarios

About the ExxonMobil Global Outlook

2024 Global Outlook glossary

2024 Global Outlook data

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