The domestic material consumption of natural gas in the UK is projected to decline from 2024 onwards, reflecting a consistent downward trend. In 2023, the actual consumption stood above the projected 2024 level of 46.46 million metric tons. Forecasted figures show a steady year-on-year decrease, dropping by approximately 3% annually, leading to a cumulative decline of around 12% by 2028. The compound annual growth rate (CAGR) over this period indicates an average annual decrease of approximately 2.5%.
Future trends to watch for:
- Impact of renewable energy adoption potentially accelerating the decline in natural gas consumption.
- Policy changes addressing carbon emissions might further influence natural gas usage.
- Technological advancements in energy efficiency could lead to decreased reliance on natural gas.