European Industry Resilience to Energy Costs in 2026 | Sectoral Analysis - News and Statistics

Mar 17, 2026

European industries are currently in a stronger position to manage elevated energy costs compared to the 2022 energy crisis, according to an analysis from ING. The impact of price increases varies significantly across different sectors of the economy.

Uneven Sectoral Exposure

The effect of higher energy prices depends heavily on the specific sector and the volume and form of energy it consumes. Aviation and shipping are identified as particularly energy-intensive, with both relying on refined oil products that have become more expensive. Numerous manufacturing industries also use substantial energy, often depending on gas and electricity for heat and as production feedstocks. In contrast, fields like construction, retail trade, and healthcare are considered less energy-intensive.

Trends in Energy Use

Many industries reduced their consumption of oil and gas per unit of output in 2025 relative to the average from 2016 to 2019. This decline in energy intensity is attributed to corporate investments in more efficient production, driven by both high prices and sustainability goals. For example, BASF is constructing a major industrial heat pump to utilize waste heat, while INEOS is starting an innovative facility in Antwerp designed to be less energy-intensive.

However, the measured drop in energy intensity does not always signify genuine efficiency improvements at the process level. It can also result from shifts in output composition, a move toward less energy-intensive activities, plant closures, or reduced capacity utilization. The European chemical sector, for instance, is gradually shifting from bulk chemicals to higher-value specialty products, with many energy-intensive plants having closed. A similar dynamic is observed in metals production, where the most energy-intensive producers have cut output the most. Production has also grown more flexible, with some energy-heavy activity relocating abroad.

In transportation, road and aviation sectors show decreased energy intensity linked to fleet renewal with more efficient vehicles and aircraft. Conversely, shipping has grown more energy-intensive recently due to longer routes from geopolitical disruptions and faster sailing, outweighing efficiency gains from improved engines. Inland shipping has also faced inefficiencies from lower vessel occupancy rates.

Corporate Preparedness

Businesses are now considered better prepared for energy price volatility than in 2022. Many have implemented structural changes to reduce exposure, such as investing in energy efficiency, electrifying processes, increasing renewable energy use, and securing long-term energy contracts. Some construction firms no longer accept fixed-price mega-projects, while others have improved energy monitoring and diversified suppliers. The utility Uniper, which faced severe risk from concentrated gas sourcing in 2022, has since diversified its suppliers across several regions. These measures have made firms more resilient, reducing the disruptive impact of sudden price jumps on business performance.

Risk Management Strategies

Companies employ various strategies to mitigate energy price risks, often using a combination tailored to their specific exposure and risk appetite. One approach is to minimize energy use through efficient processes, though this can take time to implement. Another is the use of price escalation clauses, mainly in business-to-business markets, to pass cost increases to customers. Firms may also directly procure energy-intensive inputs at the time of a sales deal to lock in costs, though suppliers can be reluctant to take on such long-term price risk. Where these are not feasible, commodity futures present another option, though they require sophisticated understanding and monitoring.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

REPORT DESCRIPTION
RESEARCH METHODOLOGY AND THE AI PLATFORM
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
GLOSSARY AND SPECIFIC TERMS

2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

KEY FINDINGS
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3. MARKET OVERVIEW

Understanding the Current State of The Market and its Prospects

MARKET SIZE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
MARKET FORECAST TO 2035

4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

Finding New Products to Diversify Your Business

TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
BEST-SELLING PRODUCTS
MOST CONSUMED PRODUCTS
MOST TRADED PRODUCTS
MOST PROFITABLE PRODUCTS FOR EXPORT

5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

TOP COUNTRIES TO SOURCE YOUR PRODUCT
TOP PRODUCING COUNTRIES
TOP EXPORTING COUNTRIES
LOW-COST EXPORTING COUNTRIES

6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Export

TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
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UNSATURATED MARKETS
TOP IMPORTING MARKETS
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7. PRODUCTION

The Latest Trends and Insights into The Industry

PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

8. IMPORTS

The Largest Import Supplying Countries

IMPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

9. EXPORTS

The Largest Destinations for Exports

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EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

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