In 2023, the electricity consumption in manufacturing in China stood at 44.25 hundred billion kilowatt-hours. The forecasts for the years 2024 to 2028 show a steady increase in consumption, with respective values of 45.57, 46.97, 48.35, 49.72, and 51.07 hundred billion kilowatt-hours. Compared to 2023, the data indicates the following year-on-year increases: 3.0% in 2024, 3.1% in 2025, 2.9% in 2026, 2.8% in 2027, and 2.7% in 2028. The Compound Annual Growth Rate (CAGR) from 2023 to 2028 is approximately 2.9%.
Trends to watch for in the future include the impact of technological advancements and the adoption of energy-efficient practices in manufacturing, which might alter the rate of electricity consumption growth. Additionally, monitoring government policies on renewable energy sources and sustainability initiatives will be crucial, as these can significantly influence consumption patterns.
