The final consumption of electricity in Finland's iron and steel sector has shown a steady increase over the years. From 2013 to 2023, the value increased from 3.9 to 4.85 Thousand Gigawatthours, marking a clear upward trend despite some fluctuations. The sector grew significantly by 16.51% in 2013, followed by a more moderate annual growth pattern, and experienced a dip of -4.35% in 2017. The trend picked up notably in 2021 with a 10.51% increase.
In 2023, consumption stood at 4.85 Thousand Gigawatthours, with the growth rate for the previous year at 1.66%. The compound annual growth rate (CAGR) for the past five years was 2.38%. The data also forecasts continued growth, projecting consumption to reach 5.23 Thousand Gigawatthours by 2028, implying a forecasted 5-year CAGR of 1.21% and a total growth rate of 6.18% from 2024 to 2028.
Future trends to watch for include the potential impact of advancements in energy-efficient technologies and policies promoting sustainable practices within the sector. The continued commitment to reducing carbon footprints and increasing energy efficiency will likely drive future consumption patterns.
