In 2023, the machinery sector's final consumption of natural gas in the UK was approximately 1.19 million tonnes of oil equivalent. The forecast from 2024 to 2028 shows a steady increase in consumption, growing from 1.21 to 1.29 million tonnes. The year-on-year growth maintains a consistent pace of about 1.65%, reflecting a stable demand for natural gas within this sector. The compound annual growth rate (CAGR) over the five-year forecast period is approximately 1.65%, indicating gradual but consistent growth in natural gas consumption.
Future trends to watch include the impact of energy efficiency initiatives and shifts towards renewable energy sources. Should the UK government implement stricter energy policies or incentivize alternative energies, the natural gas consumption growth rate in the machinery sector may experience a slowdown or plateau.
