India Energy Industry Outlook 2024 - 2028

Key Market Indicators

By 2028, India's energy consumption is projected to hit 42 exajoules, up from approximately 37 exajoules in 2023. This marks an average annual growth rate of 2.2%. Since 1970, India's energy demand has increased at an average rate of 2.5% per year. In 2023, India ranked third in global energy consumption, trailing the United States, which recorded an equivalent of 37 exajoules. The rankings in energy consumption for 2023 placed the United States at the top, followed by India in third place, and Russia in fourth.

India Energy Market Data and Forecasts