In 2023, the solid fossil fuels consumption in the UK's machinery sector was measured at 7.48 thousand tonnes of oil equivalent. The forecasted data from 2024 to 2028 demonstrates a declining trend. Year-on-year variations show a decrease of 4.8% from 2024 to 2025, followed by a 5% decline in 2026, a 5.1% dip in 2027, and a 5.2% drop in 2028. The compound annual growth rate (CAGR) from 2024 to 2028 indicates an average annual decrease of approximately 5%.
Future trends to watch for in the sector include:
- The impacts of the UK’s increasing shift towards renewable energy sources on fossil fuel consumption.
- Potential policy changes related to carbon emissions and their effect on energy consumption in the machinery sector.
- Technological advancements leading to more energy-efficient practices within the industry.