From 2013 to 2023, the total support for natural gas for residential use in Australia showed a stable trend, with minor variations. In 2015, there was a notable 40% year-on-year increase, setting the value at 0.007 units by 2016. The value remained constant from 2016 to 2021, experiencing a slight uptick to 0.008 units in 2022. The year-on-year variation for 2022 was 14.29%, with the value staying steady into 2023. The compound annual growth rate (CAGR) over the last 5 years averaged at 2.71%.
Forecast data from 2024 to 2028 predict a gradual increase, reaching 0.009 units by 2028, suggesting a 12.5% growth over the next five years. The forecasted 5-year CAGR is 2.38%, indicating a modest but steady uptick in support for natural gas.
Future Trends to Watch For:
- Potential policy changes promoting renewable energy sources, affecting natural gas demand.
- Technological advancements leading to more efficient natural gas usage.
- Market dynamics influenced by global natural gas prices and supply chain stability.
