The final consumption of natural gas by the construction sector in the UK is forecasted to grow steadily from 2024 to 2028. With data beginning at an actual value in 2023, the projected figures suggest a gradual increase in usage, with a year-on-year growth of around 2.6% on average. The compound annual growth rate (CAGR) for the five-year period from 2024 to 2028 is approximately 2.4%, indicating a consistent upward trend in consumption.
Future trends to watch for include:
- Shifts in construction sector demand due to policy changes around energy efficiency and sustainability.
- Technological advancements that could influence natural gas usage.
- Economic factors that may impact construction activity, and therefore energy consumption.
- Potential substitution with renewable energy sources as part of a broader move towards reducing carbon emissions.