Forecast: Energy Consumption in Industry in India

Energy consumption in India's industry stood at 38.98 units in 2023, showing modest but consistent growth over the past decade. From 2013 to 2023, energy consumption increased with yearly fluctuations. Recent years demonstrated a stable trend with variations below 1%. The last two years had a steady rise of about 0.83% per year. The five-year CAGR held at approximately 0.32%, indicating slow yet stable growth. Forecasts suggest that by 2028, the energy consumption will rise to 40.56 units, with the upcoming five years’ CAGR estimated at 0.63%, contributing to a cumulative growth of 3.21%.

Future trends to watch for include advancements in energy-efficient technologies, potential shifts to renewable energy sources, and regulatory reforms, which may significantly impact industrial energy consumption patterns.