The fossil energy consumption in the iron and steel sector in Germany is predicted to decline steadily from 2024 onwards. Starting at 5.43 Million Tonnes of Oil Equivalent in 2024, it is projected to decrease to 5.06 by 2028. This represents a compound annual growth rate (CAGR) of approximately -1.8% over these five years. The year-on-year percentage drop remains consistent, illustrating a concerted sector effort toward energy efficiency and reducing fossil fuel dependency.
Future trends to watch for include:
- Advancements in green steel technologies could accelerate the reduction in fossil energy consumption.
- Regulatory shifts and policy initiatives focusing on decarbonization may drive further declines.
- Economic fluctuations could impact industrial output, influencing energy consumption patterns in the sector.