This outlook provides analysis and trends on Asia’s energy transition from non-renewable to renewable sources. A 2030 outlook predicts renewables will experience a rapid growth in power capacity and generation outlook in the region, due to the acceleration of investment towards net zero targets.
Asian countries have started pushing for policies and incentives which can allow them to become leaders in the main energy transition sectors. Although they are moving quickly in developing renewable energy, further policies and actions need to be implemented to increase its competitiveness across the other four sectors. Energy supply is also the main sector responsible for CO2 emissions in the region.
Even with the efforts to increase the share of renewables, in order to cover the increasing energy demand, there is still substantial upcoming capacity from thermal power plants through to the middle of this decade. As consequence, this will create an increase of almost 100 MTCO2 in emissions from thermal power.
Asian countries have started pushing for policies and incentives which can allow them to become leaders in the main energy transition sectors. Although they are moving quickly in developing renewable energy, further policies and actions need to be implemented to increase its competitiveness across the other four sectors. Energy supply is also the main sector responsible for CO2 emissions in the region.
Key Highlights
The Asian power market is dominated by coal-fired power plants, which currently make up 40% of the power mix, although certain countries, such as Singapore, heavily rely on gas to cover their energy demand. In both cases, the regional outlook for increasing renewable capacity by 2035 seems positive, with an expectation of almost 60% of renewables in the mix, with solar and wind the leading renewable technologies.Even with the efforts to increase the share of renewables, in order to cover the increasing energy demand, there is still substantial upcoming capacity from thermal power plants through to the middle of this decade. As consequence, this will create an increase of almost 100 MTCO2 in emissions from thermal power.
Scope
- Regional Energy Transition in Asia
- Policies supporting energy transition
- Power renewable capacity and generation by 2035 and thermal decommissioning capacity
- Electric vehicles market and growth
- Renewable refineries in the EU
- CCS capacity and main industries adopting CCS
- Main hydrogen developments and hydrogen capacity in Europe
Reasons to Buy
- Identify the last trends, policies and leaders in energy transition technologies.
- Develop market insight of current, in development and announced capacity and latest trends of each of the sectors.
- Understand the potential market growth and policy support for renewable power, hydrogen, renewable refineries, CCS, EVs.
- Facilitate the understanding on where the market is growing as it positioned as one of the main topics of the international agenda.
Table of Contents
- Executive Summary
- Sector Readiness and Leaders
- Power Outlook & Generation
- Renewable Energy Policies & Economics
- Power Capacity Share Outlook
- Power Generation Outlook
- Thermal Power Decommissioning & Emissions
- Major players: Solar and Wind Owners, Manufacturers, and EPCs
- Electric Vehicles
- Passenger EV Outlook
- Policies
- Renewable Fuels
- Renewable Fuels
- Renewable Refineries
- Polices and Players
- CCS/CCU
- CCS/CCU Projects
- Hydrogen
- National Hydrogen Strategies
- Regional Policy
- Upcoming projects
- Capacity scenarios
- End use sectors
Table 1: Sector Grid and Leaders
Table 2: Policies and Strategies
Table 3: Power Policies, Incentives and Targets
Table 4: Solar Power Capacity EPCs and Manufacturer Leaders
Table 5: Wind Power Capacity EPCs and Manufacturer Leaders
Table 6: Regional policy on electric vehicles
Table 7: Progress in transport electrification in Asia
Table 8: Regional Policies on Renewable Fuels
Table 9: Largest Renewable Refineries
Table 10: IEA opportunity factors for CCUS in Asian emerging economies
Table 11: Largest Upcoming CCUS
Table 12: Regional Policies on Hydrogen
Table 13: Funding and Financial Support
Table 14: Largest upcoming hydrogen plants in Europe
Table 15: Asian companies highlighting hydrogen
List of Figures
Figure 1: European LCOE
Figure 2: Cumulative Renewable Capacity by Country
Figure 3: Power Capacity Share, 2020 - 2035, %
Figure 4: Power Generation Share, 2020-2035
Figure 5: Decommissioning and Upcoming Thermal Capacity
Figure 6: Asia's Emissions from Thermal Power
Figure 7: Solar Power Capacity
Figure 8: Wind Power Capacity
Figure 9: EV adoption in selected Asian Countries, %
Figure 10: Light Vehicle Outlook Sales
Figure 11: Top 10 Electric Vehicles Producers in Asia, 2023
Figure 12: Asian Renewable Fuels Capacity
Figure 13: Asian Countries Leading Renewable Fuels
Figure 14: Asia CCUS Capacity, 2020 - 2030
Figure 15: CCUS Projects by Development Stage
Figure 16: Asian Countries Leading CCUS Capacity by 2030 (mtpa)
Figure 17: Leading Industries Adopting CCUS by 2030
Figure 18: Asian and Global Low-Carbon Hydrogen Capacity by Development Stage
Figure 19: Asia low carbon hydrogen scenarios, 2020 - 2030
Figure 20: Companies with Most Mentions of Hydrogen in Filings in Asia 2020 - 2023
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- SPIC
- Adani
- China Huaneng
- BYD
- Toyota
- Tesla
- Neste
- Beijing Haixin Energy Technology Co Ltd
- Petermina
- Santos
- CNOOC
- Petronas
- Fortescue Future Industries
- NTPC
- BJCE
