In 2023, India's biomass consumption stood at 42.10% of Domestic Material Consumption. The forecast data from 2024 to 2028 shows a steady decline in biomass consumption: from 41.56% in 2024 to 39.68% in 2028. Year-on-year variations indicate a consistent decrease of approximately 1.2% to 1.5% annually. This consistent decline results in a Compound Annual Growth Rate (CAGR) of -1.2% over this five-year period, from 2024 to 2028.
- 2024: 41.56%
- 2025: 41.07%
- 2026: 40.6%
- 2027: 40.13%
- 2028: 39.68%
Future trends to watch for include potential impacts of technological advancements in renewable energy sources and government policies aimed at promoting sustainable energy practices. In addition, economic factors and shifts in energy consumption patterns could significantly influence biomass usage in the coming years.