In 2023, the final consumption of Gas Oil and Diesel Oil, excluding biofuel, in Germany's iron and steel sector was approximately 381.83 Terajoules. From 2024 onwards, a significant decrease is projected: consumption is forecasted to drop by about 24.3% in 2025, 31.8% in 2026, 46% in 2027, and a striking 84.4% in 2028. The Compound Annual Growth Rate (CAGR) indicates a yearly decline of approximately 53.3% from 2024 to 2028.
Future trends to watch for include:
- Efficiency improvements and shifts to alternative fuel sources in the iron and steel sector.
- German governmental policies promoting sustainability and energy independence.
- Technological innovations impacting energy consumption patterns.
- Global economic conditions affecting the sector's operations and energy requirements.