Energy Review

The 2025 global energy review highlights a record 1.7% increase in energy demand, with fossil fuels retaining a dominant 86.2% market share despite growth in renewables. UBS suggests a balanced investment approach that includes both traditional energy players and infrastructure transition leaders to meet rising demand from AI and industrialization.

Key Takeaways

• 1.Global energy demand grew 1.7% in 2025 to a record 600.3 exajoules, driven by growth in all energy sources despite rising decarbonization efforts.
• 2.Fossil fuels remain dominant, accounting for 86.2% of primary energy demand, though the energy transition is spurring investment in renewables and new technologies.
• 3.Energy demand is projected to continue rising due to AI infrastructure, industrialization, and urbanization, necessitating a balanced approach to security, affordability, and sustainability.

Table of Contents

• A review of 2025
• Our thirst for energy keeps rising
• Fossil fuels remain the dominant sources of energy consumption
• Carbon emissions hit another record high
• Coal and natural gas are the main energy sources used to generate electricity
• What to expect over the next few years
• Energy demand for capita
• What does this mean for investors?
• Top five energy consumers
• Energy definitions

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