In 2023, the fossil energy consumption in Italy's iron and steel sectors was slightly above the forecasted 2024 value of 2.68 Million Tonnes of Oil Equivalent. From 2024 to 2028, a year-on-year decline in energy consumption is expected, with significant decreases each year: approximately -2.6% from 2024 to 2025, -2.7% from 2025 to 2026, -2.4% from 2026 to 2027, and -2.8% from 2027 to 2028.
The compound annual growth rate (CAGR) indicates an average reduction of around -2.5% per year over this forecast period.
**Future Trends to Watch:**
- Ongoing shifts towards renewable energy sources within the sector.
- Technological advancements that might alter production processes, reducing reliance on fossil fuels.
- Legislative changes and environmental policies promoting sustainable practices.
- Market forces, such as demand fluctuations in global steel markets, affecting energy consumption levels.
