In 2023, the fossil energy consumption in the UK's iron and steel sectors was 18.23 thousand terajoules. The forecast indicates a steady decline from 15.32 thousand terajoules in 2024 to 4.42 thousand terajoules in 2028. This represents a significant decrease, with a year-on-year average decline of approximately 21.3%. Over the forecasted period, the compound annual growth rate (CAGR) is approximately -21.1%, highlighting a trend towards reduced fossil energy reliance in these sectors.
Future trends to watch for include technological advancements in energy efficiency and increased adoption of renewable energy sources, which may further accelerate the reduction of fossil energy consumption in the UK's iron and steel sectors.
