From GlobeNewswire:

The Asia Pacific region is expected to account for nearly 50% of the world’s low-carbon technology opportunities by 2050, holding half of the world’s population and contributing one third to global GDP. With appropriate policy action and investment, the region has the potential to become a global leader in the energy transition, according to a report by Wood Mackenzie.

The Asia Pacific EV stock is expected to reach 635 million units by 2050, with an exponential growth driven by affordability and available resources in the region. The region is also projected to see a significant rise in low-carbon supply, with 75% of power generation coming from low-carbon sources by 2050.

By 2050, nearly 50% of the world’s new technology opportunities for low carbon emission will be in the Asia Pacific region. This includes a significant growth in low-carbon hydrogen, reaching 3.5% of final energy demand by 2050 in the base case scenario and 12% in the net zero scenario.

The Asia Pacific region is a significant contributor to global oil, gas, and coal demand, but domestic gas supply is declining, requiring new discoveries or liquefied natural gas (LNG) to meet the demand. Gas demand is expected to grow from 890 billion cubic meters to 1,285 billion cubic meters by 2050 in the base case, indicating continued growth in power and industry.

Wood Mackenzie’s Energy Transition Outlook report analyzes three different routes through the energy transition, including a base case, country pledges scenario, and net zero 2050 scenario. These scenarios provide insights into the potential outcomes for the planet based on levels of ambition and investment in the energy transition.



Read more: Asia Pacific could become a global leader in the energy