In 2023, the final consumption of solid fossil fuels in Germany's iron and steel sector was 1.08 million metric tons. Forecasts indicate a declining trend from 2024, starting at 1.06 million metric tons and decreasing to 0.94417 million metric tons by 2028. This reflects a year-on-year decrease varying from approximately 2.83% to around 2.72%. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) suggests an average annual decrease of about 2.37% in solid fossil fuel consumption.
Future trends to watch for in this sector include:
- Shift towards alternative energy sources and decarbonization strategies.
- Regulatory changes impacting fossil fuel usage.
- Technological advancements in steel production driving energy efficiency.
- Potential economic fluctuations affecting industrial demand.
