Forecast: Energy Consumption in Industry in Australia

In 2023, energy consumption in Australian industry stood at 27.87 units, reflecting a steady decline from 2013's 29.28 units. Historical year-on-year variations show fluctuations, with notable declines in 2015 by -4.41% and a small rebound in 2020 by 1.98%. The average annual change over the last five years indicated a near-zero growth rate, showing a modest -0.022% CAGR.

Looking forward, forecasted data suggests a continuous decrease in energy consumption, with an estimated -0.5% CAGR over the next five years, culminating in a 2028 value of 27.01 units. This projected trend implies a -2.46% total decline from 2023 to 2028.

Future trends to watch for include the impact of energy efficiency policies, technological advancements in industrial processes, and shifts toward renewable energy sources, which could further influence industrial energy consumption patterns in Australia.