The forecasted final consumption of fossil energy in the transport equipment sector in the UK shows a consistent decline from 2024 to 2028, starting at 32.67 thousand terajoules in 2024 and decreasing to 29.44 thousand terajoules by 2028. This represents an average annual reduction (CAGR) of roughly 2.6% over the five-year forecast period. Year-on-year reductions suggest a gradual transition, with the sector continuously seeking alternatives to fossil energy.
Future trends to watch for include:
- Increased adoption of electric and hybrid vehicles, potentially accelerating the reduction in fossil energy consumption.
- Government policies and incentives promoting renewable energy use in transportation.
- Technological advancements in battery storage capabilities and energy efficiency.