The consumption of primary solid biofuels within Austria’s machinery sector fluctuated significantly between 2013 and 2023, starting at 243.28 Terajoules in 2013 and reaching 346.26 Terajoules in 2023. Notable variations include substantial decreases in 2014 and 2019, countered by notable increases in there years such as 2018 (15.3%) and 2021 (35.24%). The most recent five-year CAGR for 2023 stands at 2.9%, reflecting moderate growth across that period. However, forecasts from 2024 to 2028 predict a slight negative trend with a forecasted five-year CAGR of -0.1%, indicating the consumption is expected to level off and gradually decline.
Future trends to watch for include:
- Technological advancements in biofuel production enhancing efficiency.
- Government policies and subsidies promoting renewable energy use.
- Market shifts towards alternative energy sources impacting biofuel demand.