Key Market Indicators
Hungary's energy consumption is projected to decline to approximately 0.9 exajoules by 2028, down from around 0.95 exajoules in 2023. This represents an average annual decrease of 0.9%. Historically, since 1970, Hungary's energy demand has been decreasing at an annual rate of 0.5%. In the global rankings for 2023, Hungary was placed at number 58, just behind Morocco, which also recorded consumption of about 0.95 exajoules. Leading the rankings, the United States, India, and Russia occupied the second, third, and fourth positions, respectively. On the supply side, Hungary's energy supply is expected to remain relatively stable, reaching approximately 26.18 million tonnes of oil equivalent by 2028, up slightly from around 26.13 million tonnes in 2023. This indicates an average annual growth rate of 0%. Since 1970, the country's energy supply has decreased by an average of 0.3% per year. In 2023, Hungary ranked 13th globally in energy supply, with Austria narrowly ahead, also at about 26.13 million tonnes of oil equivalent. France, Saudi Arabia, and the United Kingdom held the second, third, and fourth positions in the supply rankings, respectively.
