In 2023, the natural gas final consumption in the UK industry stood at a higher level compared to the forecasts from 2024 onwards. The forecasted data from 2024 to 2028 shows a gradual decline in consumption, with each year experiencing a slight decrease of approximately 1.4% per year, resulting in a CAGR of -1.51% over this period. This consistent downward trend highlights the industry's shift towards more sustainable energy practices and efficiency improvements.
Future trends to watch for include:
- Increased adoption of renewable energy sources as replacements for natural gas.
- Technological advancements targeting greater energy efficiency in industrial processes.
- Potential regulatory changes aimed at reducing carbon emissions, further impacting natural gas usage.
- Economic and geopolitical factors influencing energy policies and consumption patterns.