Energy consumption in the services sector in Saudi Arabia stood at 6.68 units in 2023. Analyzing the actual data from 2013 to 2023, there has been a generally increasing trend in energy consumption, despite minor fluctuations. The year-on-year variation revealed prevalent growth, with significant increases occurring in 2015, 2016, and 2018. Declines were observed in 2014, 2019, and 2020. Over recent years, growth has been more modest, reflected in an average annual increase (CAGR) of -0.96% from 2018 to 2023.
Future projections indicate a steady rise in energy consumption, with the forecasted data showing an annual CAGR of 0.93% from 2024 to 2028. By 2028, the energy consumption is expected to reach 7.09 units, reflecting a total increase of 4.73% over five years.
Future trends to watch for include:
- Potential technological advancements in energy efficiency within the services sector
- Policy changes impacting energy consumption patterns
- Economic factors influencing the demand for services
- Environmental sustainability initiatives influencing energy use
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