Most businesses expect operations to be largely electrified by 2035: Survey

Summary

A global survey of nearly 2,000 business leaders across 18 countries shows strong support for electrification as companies seek greater energy security, lower operating costs, and improved competitiveness. Most respondents expect their operations to be largely electrified by 2035, while many warn they may consider relocating investments if governments fail to modernize power grids and support the transition. 

LONDON, June 15, 2026 — Most businesses expect their operations to be largely electrified by 2035 as they reduce reliance on fossil fuels and seek greater protection from energy market volatility, according to a global survey released on Monday. 

The survey, conducted by research consultancy Public First, gathered responses from 1,994 business executives and senior decision-makers from companies with annual revenues exceeding $1 million. The research was commissioned by E3G, the We Mean Business Coalition, and the Global Renewables Alliance. 

Respondents represented businesses across 18 countries, including Australia, Brazil, China, Colombia, France, Germany, India, Indonesia, Japan, Kenya, Nigeria, the Philippines, Poland, South Africa, South Korea, Turkey, the United Kingdom, and the United States. 

According to the findings, 90% of business leaders expect their operations to be largely electrified by 2035, while 73% anticipate reaching that stage by 2030. In addition, 90% believe that a shift toward renewables-based electricity systems would support economic growth in their countries. 

Energy security drives electrification plans

The survey was conducted in late April during a period of heightened geopolitical tensions and energy market uncertainty linked to disruptions in the Middle East. The findings suggest that concerns about energy security are accelerating corporate electrification plans. 

Among respondents, 79% said recent geopolitical instability has made electrification more urgent for their businesses, while 91% said replacing fossil fuel-powered equipment with electric alternatives would improve energy security. 

Business leaders also cited economic advantages from electrification. About 88% said it would make their companies more competitive, while 84% expect it to reduce long-term operating costs. Additionally, 77% said businesses should prioritize replacing fossil fuel-powered systems with electric alternatives over the next decade. 

Businesses call for faster grid upgrades

Despite strong support for electrification, many executives expressed concern that government policies and infrastructure development are not keeping pace with business ambitions. 

The survey found that 72% of respondents believe government policies are moving too slowly to support the pace of electrification required by businesses. Meanwhile, 62% said they would consider moving operations elsewhere if governments failed to provide sufficient support for electrification, including grid upgrades and enabling policies. 

The findings highlight growing pressure on governments to modernize electricity networks and expand grid capacity as demand for electrified industrial processes, transport fleets, and heating systems increases. 

Emerging markets show strong momentum

Support for electrification was particularly strong across emerging economies. The survey found higher levels of enthusiasm for renewables-based electricity systems in countries such as India, Indonesia, Nigeria, and the Philippines compared with several advanced economies. 

Maria Mendiluce, Chief Executive Officer of the We Mean Business Coalition, said businesses increasingly view electrification as essential for competitiveness, energy security, and economic resilience.

“Businesses are increasingly seeing electrification as the foundation of future competitiveness, energy security and economic resilience,” she said. 

Why this matters

• Businesses are increasingly viewing electrification as a strategic investment rather than solely a climate initiative. 
• Energy security concerns and fossil fuel price volatility are accelerating corporate demand for electric technologies. 
• Grid infrastructure and policy support are emerging as key challenges to achieving electrification targets. 
• Governments that fail to modernize electricity systems could face reduced competitiveness in attracting future business investment. 

FAQs

Q1: What is the main finding of the survey?

The survey found that 90% of business leaders expect their operations to be largely electrified by 2035, with 73% expecting substantial electrification by 2030. 

Q2: Why are companies accelerating electrification plans?

Many businesses cite energy security, lower operating costs, and improved competitiveness as key benefits of replacing fossil fuel-powered systems with electric alternatives. 

Q3: What concerns do businesses have about government action?

About 72% of respondents said government policies are moving too slowly to support electrification, while 62% said they would consider relocating operations if support is inadequate. 

Q4: How many executives participated in the survey?

The survey included 1,994 executives and senior decision-makers from companies with annual revenues above $1 million across 18 countries. 

Q5: Which organizations commissioned the research?

The survey was commissioned by E3G, the We Mean Business Coalition, and the Global Renewables Alliance and conducted by Public First.