The fuel oil consumption in Transport, Storage and Post in China displayed a consistent upward trend from 2013 to 2023, reaching 2.19 ten million metric tons in 2023. This growth is marked by significant year-on-year variations, such as a notable 17.2% increase in 2017 and a steady 2.47% rise in 2023. Over the last two years, the average annual growth rate stood at approximately 2.51%, while the last five years showed a CAGR of 4.08%, reflecting a moderate but stable increase in fuel oil consumption.
Looking ahead, forecasts predict continued growth, albeit at a slower pace, with a five-year CAGR of 1.75% and an overall growth rate of 9.08% by 2028. Future trends to watch for include potential impacts of evolving technologies in fuel efficiency, government policies on emission reductions, and shifts towards alternative energy sources, which could influence the consumption patterns in the coming years.
