UK markets closed
  • FTSE 100

    6,635.37
    -59.70 (-0.89%)
     
  • FTSE 250

    20,351.75
    -245.16 (-1.19%)
     
  • AIM

    1,197.14
    +1.83 (+0.15%)
     
  • GBP/EUR

    1.1253
    +0.0016 (+0.14%)
     
  • GBP/USD

    1.3657
    -0.0027 (-0.20%)
     
  • BTC-GBP

    24,808.40
    +368.73 (+1.51%)
     
  • CMC Crypto 200

    682.49
    +5.59 (+0.83%)
     
  • S&P 500

    3,823.85
    -17.62 (-0.46%)
     
  • DOW

    30,717.24
    -279.74 (-0.90%)
     
  • CRUDE OIL

    52.17
    -0.10 (-0.19%)
     
  • GOLD FUTURES

    1,850.90
    -5.30 (-0.29%)
     
  • NIKKEI 225

    28,822.29
    +190.84 (+0.67%)
     
  • HANG SENG

    30,159.01
    +711.16 (+2.41%)
     
  • DAX

    13,660.24
    -213.73 (-1.54%)
     
  • CAC 40

    5,473.31
    -86.26 (-1.55%)
     

The number of cars will double worldwide by 2040

Matthew Nitch Smith
New Delhi traffic
New Delhi traffic

Getty Images/Daniel Berehulak

The global number of cars on the road and kilometers flown in planes will nearly double by 2040, according to a report released on Monday by research house Bernstein.

Cars are projected to reach the two billion mark by 2040, while air travel kilometers are set to hit 20 trillion in the same period.

Bernstein said it expects most of this transport growth to happen in emerging markets like China and India, as global populations are set to rise by another two billion over the next 25 years to 9.2 billion.

Growing GDP in those regions will increase demand for items once seen as luxuries, including automobiles and flights.

The fastest growth will be in air travel, according to the report, which is particularly sensitive to per capita GDP growth. As Business Insider previously reported, this will support increased use of oil in emerging markets over the next two decades, countering the drop in demand from developed economies.

Here's a visual of projected global transport growth over the next 25 years:

cars and planes
cars and planes

Getty Images/Daniel Berehulak

While this growth looks large, the report notes that demand in the US and Europe will fall as both regions reached peak oil over ten years ago in 2005.

"Given the peak in travel speeds, high penetration of transport, and increasingly services-led nature of economic growth in the West, demand from this area will decline from here," it added.

"Although China (gasoline demand) in particular will remain the most important market over the next decade, India (diesel demand) is set to become the most important market over the next 25 years."

NOW WATCH: How ISIS makes over $1 billion a year

See Also:

SEE ALSO: You don't want to touch these 3 places on a plane