Key Market Indicators
Hungarian energy consumption is projected to decline to 0.9 exajoules by 2028, down from 0.95 exajoules in 2023. This represents an average annual decrease of approximately 0.9%. Historically, since 1970, Hungary has seen a yearly drop of about 0.5% in energy demand. In 2023, Hungary ranked 58th globally in energy consumption, with Morocco surpassing it at the same consumption level of 0.95 exajoules. The top consumers in the global ranking are the United States, India, and Russia, occupying the second, third, and fourth spots, respectively. On the supply side, Hungarian energy supply is expected to remain relatively stable, reaching 26.18 million tonnes of oil equivalent by 2028, up slightly from 26.13 million tonnes in 2023. This reflects a flat compound annual growth rate (CAGR). Since 1970, Hungary’s energy supply has seen a modest annual decrease of approximately 0.3%. In 2023, Hungary was ranked 13th in terms of energy supply, with Austria just ahead, also at 26.13 million tonnes of oil equivalent. Leading the rankings in energy supply are France, Saudi Arabia, and the United Kingdom, in second, third, and fourth place, respectively.
