The electricity consumption in the smelting and pressing of ferrous metals in China is projected to rise steadily from 2024 to 2028. The forecast indicates an increase from 7.92 hundred billion kilowatt-hours in 2024 to 9.01 in 2028, showing a compound annual growth rate over this period. Meanwhile, this upward trend indicates ongoing industrial activity and possibly increasing demand for metals. However, specifics for 2023 are critical for comparison.
- Year-on-year growth shows gradual increments, reflecting stable industrial expansion.
- The long-term CAGR suggests consistent growth, hinting at ongoing energy demands in the sector.
Future trends to watch include advancements in energy efficiency technologies in metal processing, shifts in global demand for ferrous metals, and policy changes promoting sustainable energy sources, which could impact electricity consumption patterns.
