The forecast for electricity consumption in the manufacture of metal products in China indicates a steady increase from 2024 to 2028, beginning at 1.99 hundred billion kilowatt hours in 2024. This is a continued growth from 2023 levels. Year-on-year, the consumption is anticipated to grow approximately 3.5% each year. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is expected around 3.3%.
Future trends to monitor include:
- The impact of China's decarbonization efforts and their potential influence on energy efficiency within metal manufacturing.
- The role of technological advancements in reducing electricity consumption per output unit.
- Global metal demand fluctuations affecting China's manufacturing pace and corresponding electricity needs.