Forecast: Energy Consumption in Industry in Angola

In 2023, Angola's industry energy consumption stood at 9.29 units. Over the years, the energy consumption in this sector has demonstrated significant fluctuations, with notable peaks in 2015 and 2016 and more stable declines from 2019 onwards. The year-on-year variations indicate periods of both substantial increases such as 37.62% in 2015 and notable drops like -24.63% in 2017. Over the last two years, the consumption decreased by 2.11% each year. The five-year CAGR as of 2023 was -4.56%, reflecting a general downward trend.

Looking forward, the forecast indicates a steady decline in energy consumption with an annual average decrease of -1.83% through 2028, translating to an overall 8.81% drop. Key trends to watch include:

• Technological advancements and their impact on energy efficiency.
• Government policies geared towards renewable energy adoption.
• Economic growth and its influence on industrial energy demands.