In 2023, the industry sector final consumption of natural gas in the UK stood at approximately 311.34 thousand terajoules. The forecast from 2024 to 2028 indicates a steady decline: consumption is expected to drop from 306.72 thousand terajoules in 2024 to 288.77 thousand terajoules by 2028. Year-on-year variations from 2024 to 2028 show a consistent reduction of around 1.5% annually.
- From 2024 to 2025: Forecasted reduction of 1.5%.
- From 2025 to 2026: Forecasted reduction of 1.5%.
- From 2026 to 2027: Forecasted reduction of 1.5%.
- From 2027 to 2028: Forecasted reduction of 1.5%.
The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is estimated at -1.5%, indicating a gradual decrease in consumption.
In the future, it is essential to monitor the impact of energy efficiency initiatives and renewable energy adoption, which could further influence natural gas consumption in the industrial sector. Additionally, geopolitical events and policy changes related to the energy transition will be critical to watch.
