Oil and hydro are projected to grow at a slower pace, with the annual growth rates averaging 1.4% and 2.0% respectively. Hence, the share of oil is projected to increase from 16% in 2013 to 18% in 2040, while the share of hydro remains unchanged at 3% of TPES. The share of natural gas is projected to increase from 5% in 2013 to 11% in 2040, whereas the share of nuclear will increase from 1% to 7%. Coal consumption, driven by power generation demand, will grow at 3.8% per year and reach 934 Mtoe in 2040, up from 341 Mtoe in 2013. Coal thus maintains the largest share of TPES in 2040 at 49%, compared with 44% in 2013. Owing to rapid motorisation, oil demand will increase to 468 Mtoe and represent the second largest energy source in 2040, at 24% of TPES.