In 2023, the electricity final consumption in Germany's iron and steel sectors was observed at approximately 2.04 Million Tonnes Of Oil Equivalent. For the period from 2024 to 2028, the consumption is forecasted to slightly decline, from 2.04 in 2024 and 2025 to 2.02 by 2028. The annual year-on-year variation shows a negligible decrease of about 0.5% towards the later years. The compound annual growth rate (CAGR) over five years indicates a very modest reduction, highlighting a stable consumption outlook with minor reductions.
Looking forward, watch for trends in energy efficiency technologies, policy changes regarding emissions, and shifts in global steel demand as these factors could significantly impact electricity consumption in this sector. Additionally, developments in renewable energy adoption within industry practices may lead to changes in electricity usage patterns over time.
