The steel industry holds a significant position in the global energy landscape, accounting for 5-8% of global energy consumption. It is also one of the foremost contributors to industrial energy use, amounting to 13-17%. As the world advances toward sustainability and reduced emissions, the pressure on energy-intensive sectors, like iron and steel, to cut their environmental impact intensifies. In this Insight, we look at: • What is the current energy consumption by the steel industry, and how does the outlook up to 2050 look? • Which countries will drive the energy consumption? • How will the process-wise energy consumption change in the long term? • How will it impact the carbon emissions?