Forecast: Direct On-Farm Energy Consumption in China

As of 2023, direct on-farm energy consumption in China stood at approx. 46.24 Million Tonnes Of Oil Equivalent. From 2024 to 2028, projections indicate a steady rise from 46.96 to 49.95 Mtoe. Year-on-year growth rates reflect modest increases: 1.62% (2024-2025), 1.57% (2025-2026), 1.53% (2026-2027), and 1.50% (2027-2028). The compounded annual growth rate (CAGR) expected over these five years is approximately 1.56%.

Future trends to watch for include:

• The adoption of more energy-efficient technologies on farms, potentially impacting consumption rates.
• Policy changes centered on renewable energy, which might alter dependence on traditional energy sources.
• Economic factors and climate change effects influencing both the demand and supply dynamics in the agriculture sector.