Asia Energy Transition: Market Trends and Analysis by Sectors and Companies Driving Development

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Published: December 15, 2025 Report Code: GDUKOG144941-ST

Report Overview
Key Players
Table of Contents
Table
Figures

Asia is emerging as a global clean energy growth hub, with renewable power having already crossed the halfway mark of Asia’s overall power capacity in 2024, driven by rapid solar PV expansion. However, coal remains deeply embedded in several markets and is still forecasted to be the leading single source of power in the region in 2025. While in recent years numerous countries in the region have implemented renewable energy and net-zero targets, according to the Climate Action Tracker, these measures are proving insufficient to reach NDC targets under the Paris Agreement of 2015.

Asia remains at the forefront of the global energy transition, driven by rapid expansion in renewables, electric mobility, and low-carbon fuels. China continues to dominate regional clean energy growth, accounting for the majority of EV, green hydrogen, and renewable refinery capacity, while India and Southeast Asia are emerging as fast followers. Renewable fuels and CCUS are gaining traction, supported by new policy frameworks and increasing regional investment in biofuel infrastructure. However, deployment across the region remains uneven.

Scope

Asian CO2 emissions, renewable energy potential, leaders in renewable energy, renewable energy policies, power consumption and demand, renewable power capacity and generation, decommissioning of thermal power, energy storage capacity, electric vehicle and hybrid vehicle sales, upcoming renewable refineries, biodiesel, RD, SAFs, CCUS outlook, upcoming CCS projects, hydrogen policies, upcoming hydrogen capacity by stage, type and end use.

Key Highlights

Asia was the leading contributor to CO2 emissions from 2000 to 2024.

China is the major power demand market in Asia, forecasted to account for 67% of the region’s consumption and demand in 2025.

Renewable power is forecasted to account for 72% of Asia’s total power capacity by 2035.

Only China is set to surpass the milestone of generating over half of its power from renewables by 2035.

Upcoming thermal power capacity is forecast to outweigh decommissioning capacity, as Asian countries rely on fossil fuels to meet rapidly increasing power demand.

Alongside BYD, Volkswagen Group, and Geely remain among the top EV producers in Asia by 2037.

China is the regional – and global – leader for active green hydrogen capacity, whereas India has the highest pipeline capacity.

Reasons to Buy

Assess the current regional emissions, thermal and renewable capacity, and generation share, and identify which countries are driving the energy transition in Asia.

Identify market trends within the industry, including expected 2030 capacities for a range of technologies.

Identify who the leading countries and regional players are in renewable energy capacity and energy transition technologies such as hydrogen and CCUS.

Understand the legislative framework laid out by the region’s governments aimed at accelerating the region's decarbonization and energy transition.

Power Construction Corporation of China
China Energy Engineering Group Co Ltd
China Energy Engineering Corp Ltd
Waaree Renewable Technologies Ltd
Tata Power Co Ltd
Reliance Industries Ltd
Larsen & Toubro Ltd
Energy China Zhejiang Thermal Power and China United Engineering Co Ltd
China National Machinery Industry Corp
Shapoorji Pallonji & Co Pvt Ltd
Trina Solar Co Ltd
LONGi Green Energy Technology Co Ltd
JinkoSolar Holding Co Ltd
JA Solar Technology Co Ltd
Vikram Solar Ltd
Canadian Solar Inc
Chint Group Co Ltd
Yingli Green Energy Holding Co Ltd
First Solar Inc
Risen Energy Co Ltd
Suzlon Energy Ltd
Siemens Energy AG
Inox Wind Ltd
Vestas Wind Systems AS
China Southern Power Grid Co Ltd
East China Survey and Design Institute Co Ltd
Shanghai Survey and Design Institute Co Ltd
Vestas Wind Systems AS
Goldwind Science & Technology Co Ltd
Ming Yang Smart Energy Group Ltd
Shanghai Electric Group Co Ltd
Envision Energy Ltd
General Electric Co
Dongfang Electric Corp Ltd
Sany Group Co Ltd
BYD
Tesla
Geely
Volkswagen
Neste Corp
Oriental Energy Co Ltd
PT Pertamina (Persero)
Beijing Haixin Energy Technology Co Ltd
Henan Junheng Industrial Group Biotechnology Co Ltd
Eni SpA
Euglena Co Ltd
Petroliam Nasional Bhd
HaiKe Chemical Group Ltd
Jindayuan Real Estate Co Ltd
Xindu Group Co Ltd
BP Plc
Zhejiang Jiaao Enprotech Stock Co Ltd
Shanxi Construction Investment Group Co Ltd
Tianzhou New Energy
Korea Electric Power Corp
SK Inc
Hokkaido Electric Power Co Inc
China National Coal Group Corp
Shaanxi Yanchang Petroleum (Group) Co Ltd
China Petrochemical Corp
Synergia Energy Ltd
Petroliam Nasional Bhd
Shell plc
Chubu Electric Power Co Inc
Eni SpA
Inpex Corp
Santos Ltd
Tokyo Electric Power Co Holdings Inc
Tokyo Gas Co Ltd
Mitsui & Co Ltd
TotalEnergies
Adani Enterprises Ltd
Fortescue Future Industries Pty Ltd
NTPC Ltd
GCL New Energy Holdings Ltd
3TI Progetti Asia Co Ltd
Enterprize Energy Pte Ltd
ACME Cleantech Solutions Pvt Ltd
IHI Corp
Acwa Power Co
Invest Sabah Berhad
LBS Bina Group Berhad
Midwest Green Sdn Bhd

Executive Summary

Carbon Emissions and Climate Policies

– CO2 emissions in Asia

– Asian climate targets and policies

Power Outlook and Generation

– Sector grid and leaders in Asia

– Power consumption and demand

– Power capacity share outlook

– Power generation share outlook

– Key Asian countries’ renewable generation share

– Thermal power: decommissioning and emissions

– Major players in renewable power

– Major EPC equipment manufacturers for solar and wind

Energy Storage

– Asian energy storage outlook

– Key countries and policies in energy storage

Electric Vehicles

– BEV and Hybrid sales outlook

– Regional leaders in BEV deployment

– Regional leaders in EV charging infrastructure

Renewable Fuels

– Renewable fuels policies in Asia

– Renewable refineries

– Renewable diesel

– Sustainable aviation fuels

– Largest active and upcoming renewable refineries in Asia

CCUS

– CCUS outlook in Asia

– Regional leaders in carbon capture and storage capacity

– Facility industries adopting CCUS in Asia

– Largest upcoming carbon capture and storage plants

– CCUS regulatory framework in Asia

Hydrogen

– Hydrogen outlook in Asia

– Key regional players for low-carbon hydrogen production

– Target end-use industries for low-carbon hydrogen in Asia

– Largest upcoming low-carbon hydrogen plants in Asia

– Hydrogen regulatory framework in Asia

Table

Sector grid and leaders

Major EPC and equipment manufacturers for solar and wind

Largest active and upcoming renewable refineries in Asia

Largest upcoming carbon capture and storage plants

CCUS regulatory framework in Asia

Largest upcoming low-carbon hydrogen plants in Asia

Hydrogen regulatory framework in Asia

Figures

Annual CO2 emissions by region, 2000-2024

Top 5 emitting countries in Asia, 2000-2024

Top 5 Asian countries' power consumption and demand, 2015-2035

Power consumption and demand by industry in Asia, 2025-2035

Asia total power capacity share by technology type, 2025

Asia total power capacity share by technology, 2035

Asia power generation share, 2018-2035

Asia renewable energy generation, 2018-2035

Renewable generation share of the largest economies in Asia, 2025-2035

Upcoming and decommissioning thermal power capacity in Asia, 2025-2035

Major regional players in solar PV capacity based on active and announced projects

Major regional players in wind capacity based on active and announced projects

Global vs Asian energy storage capacity, 2020-2030

Asia energy storage capacity by technology, 2020-2030

Top Asian countries for energy storage capacity, 2020-2030

Global vs Asia-Pacific BEV sales, 2020-2037

Asia-Pacific BEV and Hybrid sales forecast, 2020-2037

Asian countries' BEV sales forecast, 2020-2037

Asian EV charging points and sites with EV charging facilities, 2019-2029

Active and announced renewable refineries in Asia, 2025YTD

Global vs Asian renewable refinery capacity, 2020-2030

Asian renewable fuel production capacity by technology type, 2020-2030

Asian countries with RD capacity, 2020-2030

Asian countries with SAF capacity, 2020-2030

Asian countries' CCS capacity, 2025-2030

Asian countries' active and upcoming CCS capacity by stage, 2025YTD

Asian countries with standalone carbon capture capacity, 2025-2030

Asian countries with standalone carbon storage capacity, 2025-2030

Industries adopting CCS technology in Asia by active and announced projects, 2025YTD

Global vs Asia low-carbon hydrogen capacity by development stage, 2025YTD

Asia low-carbon hydrogen capacity by development stage, 2025-2030

Leading Asian countries by green and blue low-carbon hydrogen max capacity

China vs India active and upcoming low-carbon hydrogen capacity

Low-carbon hydrogen allocated to end-use industries in Asia

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