Product Code: 2398-0834
BMI View: Progress in power sector reform, relatively strong economic growth and efforts to boost
electrification rates will drive power demand in the Asia region and result in power capacity expanding
rapidly in order to meet demand. Coal will be the dominant fuel choice, with gas and hydropower growing
increasingly more important over the course of the decade.
- We highlight three key trends in the Asia power sector this quarter: China's expanding commercial influence in the region's power markets, ASEAN power sector integration and the rise of battery storage deployment in select markets across Asia.
- We expect an average annual growth rate of 3.5% in Asia's power consumption between 2016 and 2026, as a result of progress in power sector reform, relatively strong economic growth and efforts to boost electrification rates across the region. Power capacity will grow rapidly in order to meet this surging power demand, and we forecast Asia to have an installed power capacity base of over 4,330GW by 2026.
- Coal will be the dominant fuel choice, with gas and hydropower growing increasingly more important over the next decade. Non-hydro renewables capacity will almost double - driven by the rapidly expanding renewables markets of India and China.
Table of Contents
BMI Industry View
- Table: Headline Power Forecasts ( Asia (Region) 2016-2022)
Regional Forecast Analysis
- Asia Power Regional Overview
Industry Risk/Reward Index
- Asia (Region) - Asia Power: Global Outperformance Maintained
- Asia (Region) - Floating LNG-To-Power As Market Enabler
- Multiple Drivers To Accelerate APAC Battery Storage Uptake
- Table: Multiple Drivers To Boost Battery Storage Uptake
- Asia To Lead The Global Renewables Race
- Methodology And Sources
- Industry Forecast Methodology
- Power Risk/Reward Index Methodology
- Table: Indicators - Explanation and Sources