In 2023, fossil energy consumption in the UK industry was approximately 545.56 thousand terajoules. From 2024 onward, a declining trend is evident. By 2028, consumption forecasts suggest a 22.8% decline compared to 2024 levels, with year-on-year decreases of about 5% to 6%. The Compound Annual Growth Rate (CAGR) over 2024-2028 is approximately -5.17%.
Future trends to watch for include:
- The impact of government regulations and climate policies on reducing fossil fuel dependence.
- Technological advancements in renewable energy adoption by the industrial sector.
- Shifts in international energy markets and their influence on local consumption patterns.