In 2023, total support for fossil fuels for residential use in China stood at an undisclosed value, but forecasts from 2024 to 2028 indicate a steady annual increase from $2.23 billion to $3.25 billion. This upward trend reflects a consistent growth trajectory. Year-on-year the expected variations show an increase from approximately 11% to 8.3%, reflecting a slight decline in growth percentage over the years. The projected compound annual growth rate (CAGR) over this period is around 9.66%, demonstrating a robust expansion driven by continuing reliance on fossil fuels.
Future trends to watch for include potential shifts towards renewable energy sources, which could alter this forecast if policies promote sustainable energy development. Monitoring China's energy policies and global economic factors will be crucial for assessing ongoing support trends for fossil fuels.
