Fossil fuel demand displaced by batteries worldwide 2023-2045, by sector
The use of batteries in the electricity sector will displace the largest volume of fossil fuel demand worldwide, causing a reduction of 175 exajoules over the next two decades. By 2045, the rapid growth of battery technology with applications in the electricity and transportation sector is forecast to more than halve the global fossil fuel demand, which amounted to 137,237 terawatt-hours (or approximately 494 exajoules) in 2022.
The overall forecast change in fossil fuel demand worldwide will amount to approximately -13 percent between 2021 and 2050.