In 2023, fuel oil consumption in Italy's iron and steel sectors was the highest in Europe at 48.75 thousand tonnes of oil equivalent, with a slight decrease of 1.49% year-on-year. Spain followed with 32.39, experiencing a significant drop of 6.11%. Macedonia grew by 1.71% to 23.75, while Sweden faced a decline of 10.97% to 17.92. The United Kingdom saw a shrinking trend, decreasing by 12.04%. On the lower end, France showed the largest drop of 27.55%, and Slovakia remained stable.
Future trends to watch for:
- Countries with declining consumption may shift towards greener energy alternatives, impacting their fuel oil demand.
- Regulatory pressures and technological advancements in energy efficiency could further dampen consumption in traditionally high-use sectors.
- Economic recovery and industrial growth in certain countries might lead to increased consumption if supported by policy incentives.
Top countries in Fuel Oil Final Consumption in Iron and Steel Sectors by Country
| # | 10 Countries | Thousand Tonnes Of Oil Equivalent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 48.75 | 2023 | +2.24% | -1.49% | View data |
| 2 | 2 Spain | 32.39 | 2023 | -0.56% | -6.11% | View data |
| 3 | 3 Macedonia | 23.75 | 2023 | -0.051% | +1.71% | View data |
| 4 | 4 Sweden | 17.92 | 2023 | -9.72% | -10.97% | View data |
| 5 | 5 United Kingdom | 4.22 | 2023 | -13.52% | -12.04% | View data |
| 6 | 6 Belgium | 2.03 | 2023 | -1.17% | +5.83% | View data |
| 7 | 7 Slovakia | 0.35 | 2023 | 0% | View data | |
| 8 | 8 Austria | 0.24 | 2023 | -70.27% | -17.06% | View data |
| 9 | 9 Greece | 0.23 | 2023 | -19.57% | -9.49% | View data |
| 10 | 10 France | 0.11 | 2023 | -52.04% | -27.55% | View data |
