The turnover of retail of petroleum and related products in China showed significant fluctuations from 2013 to 2023. Notable highs included a peak in 2013 and 2021, with respective year-on-year variations of 96.94% and 214.1%. Conversely, substantial declines were observed in 2014 and 2022, with year-on-year variations of -53.61% and -41.04%. The past five years (2018-2023) exhibited a CAGR of 13.4%, indicating some stability and growth after periods of volatility.
Forecasted values from 2024 to 2028 suggest minimal growth, with the five-year CAGR expected to be 0.11%. This underscores a plateauing trend, reflecting market maturation or potential external economic factors influencing the sector. Specific future trends to watch for include:
- Impacts of regulatory changes in China's energy sector.
- Shifts toward renewable energy affecting petroleum product demand.
- Global oil market volatility influencing local retail turnover.
- Technological advancements in energy efficiency.
- Macro-economic conditions influencing consumer spending power.
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