The forecast of Liquefied Petroleum Gases (LPG) gross inland consumption in the UK from 2024 to 2028 shows a robust upward trend. In 2023, the estimated consumption was at 150 Thousand Tonnes Of Oil Equivalent. In 2024, this figure is projected to rise to 181.76, marking a significant increase. The following years maintain this momentum with year-on-year growth rates: 16.8% in 2025, 14.11% in 2026, 12.11% in 2027, and 10.57% in 2028. The compound annual growth rate (CAGR) for the five-year period can be noted as impressive, further underscoring an optimistic forecast for LPG consumption.
Future trends to watch for:
- Technological advancements in LPG usage and production efficiency.
- Government policies promoting or restricting LPG consumption and its alternatives.
- Market shifts towards renewable energy sources impacting LPG demand.
- Potential economic factors that could alter industrial consumption patterns.