Key Market Indicators
South Africa's energy consumption is projected to climb to approximately 5.0 exajoules by 2028, up from around 4.9 exajoules in 2023. This marks an average annual growth rate of 0.5%. Historically, South African energy demand has experienced a decline, averaging a 0.9% decrease year-on-year since 1970. Despite this downward trend, the future outlook indicates a modest rebound. In the global context, South Africa ranked 22nd in energy consumption in 2023. Malaysia narrowly outpaced South Africa with an energy consumption of 4.9 exajoules. The top spots in the energy consumption rankings were held by the United States, India, and Russia, occupying the second, third, and fourth positions, respectively.
