The final consumption of hard coal in Denmark witnessed a fluctuating trend from 2013 to 2023. In 2023, consumption stood at 182.43 thousand metric tons. Between 2013 and 2018, the consumption figures showed moderate variations, followed by a significant decline in 2019. Despite a brief spike in 2021, the overall trend from 2019 to 2023 showed a decreasing pattern, culminating in a 3.97% year-on-year reduction in 2023. The compound annual growth rate (CAGR) over the last five years was -1.45%, highlighting a steady decline in consumption.
Looking forward, the forecast from 2024 to 2028 indicates a continued decline in hard coal consumption, with a predicted CAGR of -3.32%. This trend suggests a gradual decrease in reliance on hard coal, with a projected overall drop of 15.51% over the five-year forecast period.
Future trends to watch for:
- Increasing adoption of renewable energy alternatives in Denmark.
- Policy changes and regulations aimed at reducing carbon emissions.
- Technological advancements and their impact on energy consumption patterns.