Forecast: Energy Consumption in Services in United Arab Emirates

The energy consumption in the services sector of the United Arab Emirates has shown fluctuating trends over the years. From 2013 to 2015, the consumption saw both negative and positive variations, with notable increases in 2017 and 2018, showing double-digit growth rates of 12.24% and 14.48%, respectively. However, there was a decline in 2019 and 2020. Post-2020, the sector experienced modest year-on-year growth, culminating at 6.22 units in 2022. By 2023, the consumption stood at 6.3 units, marking a slight year-on-year increase of 1.29%. The Compound Annual Growth Rate (CAGR) for the last five years up to 2023 stood at -1.28%.

Looking ahead, from 2024 to 2028, energy consumption in the services sector is forecasted to grow at a CAGR of 0.86%, with the total growth expected to be 4.4% over these five years. Future trends to watch include advancements in energy efficiency technologies, policy changes towards sustainability, and the impact of digital transformation on energy consumption patterns in the services sector.