Electricity demand tells a different story, with consumption projected to double over the same timeframe. Healthcare facilities depend on stable electricity supply for diagnostic equipment, surgical theatres, refrigerated medication storage and data systems.
Global population would still grow by around 700 million people by 2060 even under the low fertility scenario. Unmet energy needs across Asia and Africa, combined with higher incomes and continued deployment of renewables and artificial intelligence infrastructure, could sustain demand growth regardless of birth rate trends.
The UN World Population Prospects report due in July 2026 may prompt revised projections across multiple sectors. Wood Mackenzie does not expect full adoption of the low fertility scenario but notes that any downward revision carries economic weight given the fiscal pressure from ageing populations.
Workforce decline drives automation
A smaller workforce creates stronger incentives for automation across industries including healthcare. Medical robotics, AI-assisted diagnostics and automated laboratory systems all require electricity and minerals even as demand for oil and gas moderates.
Prakash Sharma, Head of Energy Transition at Wood Mackenzie, says resource implications remain substantial. “A lower population does not diminish the draw on critical minerals,” he says.