The final consumption of hard coal in the UK stood at 1.60 million metric tons in 2023. The forecasted values show a declining trend from 2024 to 2028, with annual consumption expected to decrease from 1.46 million metric tons in 2024 to 1.04 million metric tons in 2028.
Year-on-year variation highlights that there is a steady reduction in consumption levels:
- 2024 vs 2023: -8.75%
- 2025 vs 2024: -7.53%
- 2026 vs 2025: -8.15%
- 2027 vs 2026: -8.06%
- 2028 vs 2027: -8.77%
The Compound Annual Growth Rate (CAGR) over the forecasted period (2023-2028) would be approximately -8.25% per year, indicating a consistent decline in hard coal consumption.
Future trends to watch for:
- The UK's ongoing commitment to reducing carbon emissions may further drive down hard coal consumption.
- The acceleration of renewable energy adoption and increased energy efficiency measures may also contribute to the declining trend.
- Policy changes and market dynamics, such as carbon pricing and subsidies for cleaner energy sources, will be key factors influencing future consumption patterns.
