Key Market Indicators
Canadian energy consumption is projected to hit 14.4 exajoules by 2028, marking a modest annual growth rate of 0.2% from 14.2 exajoules in 2023. This forecasted increase contrasts with a historical trend where Canadian energy demand has declined by an average of 0.7% per year since 1970. In 2023, Canada ranked sixth in global energy consumption. Japan narrowly edged out Canada, also consuming 14.2 exajoules. Leading the pack, the United States, India, and Russia occupied the second, third, and fourth positions, respectively.
