Peak Population Doesn't Mean Peak Energy in Asia

Asia’s demographic story is shifting with startling speed. Fertility rates are plummeting across much of the region. Japan’s population has been shrinking for 16 years. South Korea’s birth rate remains one of the lowest in the world. China’s population has also begun to decline, falling for the fourth consecutive year in 2025.

Policymakers still have to cope with rising affluence as a key driver of energy demand, meaning that peak population does not equate to peak energy consumption across the region.