In 2023, the final consumption of Liquefied Petroleum Gases (LPG) in Sweden's industry stood at 4.05 thousand gigawatt-hours. From 2013 to 2023, the industry exhibited significant fluctuations but ended with a general upward trend. Notably, in 2020 there was a sharp decline of 14.48% year-on-year, likely due to the global impact of the COVID-19 pandemic. Recovery followed, with a 9.83% increase in 2021 and a subsequent 3.93% increase in 2022. However, the growth began to stabilize by 2023, reflecting a modest 2.9% rise year-on-year.
Examining the future, the forecast from 2024 to 2028 suggests a relatively stable consumption rate, fluctuating slightly but remaining around the 4.04-4.05 thousand gigawatt-hours mark. The Compound Annual Growth Rate (CAGR) over these five years is projected to be -0.06%, indicating a trend of minimal decline.
Future Trends to Watch For:
- Technological advances in energy efficiency could lead to decreased LPG consumption in industrial processes.
- Potential policy changes aimed at reducing greenhouse gas emissions may impact the demand for fossil-based LPG.
- Economic shifts or growth in specific industrial sectors could influence LPG consumption rates in unforeseen ways.
