In 2023, electricity consumption in China's wholesale and retail trades, hotels, and catering services stood at approximately 3.67 hundred billion kilowatthours. From 2024 to 2028, consumption is forecasted to grow annually, reaching 4.44 by 2028. The year-on-year growth from 2024 to 2028 is expected to average around 3.9%, with the five-year compound annual growth rate (CAGR) projected at 3.88%. This steady increase reflects ongoing economic expansion and urbanization, driving demand in these sectors.
Future trends to watch include the increasing emphasis on energy efficiency and renewable energy sources, potentially affecting consumption patterns. Technological advancements and sustainability initiatives in the hospitality and retail sectors may lead to more efficient energy use, influencing future forecasts.
