The understanding of potential and kinetic energy has given humans the ability to create and harness heat, motion, electricity, and light. The potential energy of a physical body is determined by its position relative to another object or its inherent composition. Relevant within the energy industry are potential energy sources such as wood, coal, or gas. Kinetic energy is the energy released during motion such as wind or steam and is exploited by the power sector through electricity-generating turbines.
Energy sources are categorized into renewables and non-renewables, depending on the timespan needed for them to be formed. These sources in their natural form serve as primary energy. They may be directly consumed or further manipulated into secondary energy, such as gasoline and electricity. While fossil fuels continue to dominate the global primary energy industry, subsidies and climate-conscious policies have seen the participation of renewable energy grow consistently.
Primary energy consumption worldwide in 2023, by country (in exajoules)
Further details: Visit original statistic Primary energy consumption worldwide in 2023, by country (in exajoules)
Since the beginning of the century, global energy production and consumption have declined just twice: in the year following the Great Recession (2009) and during the first year of the coronavirus pandemic (2020). China is the world's largest producer and consumer of primary energy. As the second leading economy and home to over 1.4 billion people, it requires far more fuel to power households and industry than any other country.
Global energy consumptionPrimary energy consumption worldwide from 2018 to 2023, by fuel type (in exajoules)
Further details: Visit original statistic Primary energy consumption worldwide from 2018 to 2023, by fuel type (in exajoules)
Fossil fuels remain by far the leading primary energy source worldwide. With the first large-scale power plants dating back to the late 19th century, coal- and gas-fired steam engines have since established themselves as indispensable electricity sources. Today, thermal power from fossil-powered steam turbines continues to be the motor for developing economies like China and India. Renewables have been on the growth in recent years, with China again being the global leader.
Global coal energy industryForecast production share of hydrogen worldwide in 2050, by technology
Further details: Visit original statistic Forecast production share of hydrogen worldwide in 2050, by technology
In a bid to reduce the world’s carbon footprint, the energy industry is turning towards hydrogen as an energy carrier. However, current technologies still make fossil-fuel-derived hydrogen (blue hydrogen) the more economically viable option. Today, most hydrogen is produced through natural gas steam reforming with carbon capture and storage. In the future, green hydrogen from electrolysis powered by renewables is forecast to dominate the stage.
Green hydrogenMarket value of largest electric utility companies worldwide as of June 2024 (in billion U.S. dollars)
Further details: Visit original statistic Market value of largest electric utility companies worldwide as of June 2024 (in billion U.S. dollars)
Electricity and gas are distributed to end-users via public utilities. In 2024, United States-based NextEra Energy and Japan-based Tokyo Electron were the most valuable utilities in the world, followed by the Chinese utility Yangtze Power. These companies have invested heavily in renewable capacity in the past decade and have become some of the largest energy companies worldwide, ahead of conventional Big Oil names. In terms of revenue, the world’s leading utilities are based in Europe and Asia.
Green supermajorsMonthly prices for natural gas in the United States and Europe from June 2014 to June 2024 (in nominal U.S. dollars per million British thermal units)
Gas and coal prices skyrocketed in 2021 and 2022, affecting electricity prices in the countries most dependent on these fuels. The prices hiked up when the energy demand recovered after the pandemic and when fossil fuels supply ran short after Russia invaded Ukraine. The issue was aggravated by low renewable power output and depleted fuel stocks after a prolonged winter. Gas and coal prices have since decreased and were moderately impacted by Israel-Hamas war in 2023 and 2024.
Global energy prices
Within this segment, Statista provides detailed information for all major energy sources, such as fossil energy, renewables, and nuclear power, with an additional focus on the electricity industry and market. Included are key market indicators, such as production, consumption, and prices, in addition to statistics and reports on the leading utilities and industry players.
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