From 2013 to 2022, wood fuel production in Vietnam remained constant at 20 million cubic meters annually. In 2023, production slightly decreased to 19.902 million cubic meters. The year-on-year variation for 2023 was -0.49%, with a cumulative annual growth rate (CAGR) over the past five years of -0.098%. Looking forward, the forecast suggests a continued decline, with production projected to reach 19.429 million cubic meters by 2028, indicating an average annual decline of -0.38% over the next five years and an overall five-year growth rate of -1.9%.

Future trends to watch for:

Potential shifts in government policies on renewable energy sources.
Technological advancements in alternative fuels that could impact wood fuel demand.
Environmental regulations and their effect on wood fuel production and usage.
Market dynamics in terms of supply chain disruptions or innovations.
Global economic conditions that may influence investment in wood fuel industries.