The electricity final consumption in Finland's iron and steel sectors showed varying trends from 2013 to 2023. Starting from 14.05 thousand terajoules in 2013, the consumption increased to 17.39 thousand terajoules in 2023. The year-on-year variation showed fluctuations, with notable increases in 2015 and 2021. The last five years from 2018 to 2023 reflected a CAGR of 2.32%, indicating moderate annual growth. As of 2023, the consumption of electricity in the sector was recorded at 17.39 thousand terajoules.
Looking forward, the project forecast suggests a steady increase in electricity consumption, reaching 18.68 thousand terajoules by 2028. The anticipated five-year CAGR is 1.13%, resulting in an overall growth rate of 5.78% over this period. This suggests a moderate but stable upward trend in electricity usage in the sector.
Future trends to watch for:
- Technological advancements in energy efficiency.
- Shifts in production methods towards greener alternatives.
- Potential regulatory changes impacting energy consumption.
- Market demand influencing production capacity and electricity needs.