In 2023, bioenergy final consumption in the wood and wood products sector in Norway stood at 4.37 thousand terajoules. The forecast data for 2024 is 4.41 thousand terajoules, showing a year-on-year increase of approximately 0.92% compared to 2023. For 2025, the value is forecasted to be 4.45 thousand terajoules, a 0.91% increase from 2024. In 2026, the forecasted consumption is 4.48 thousand terajoules, marking a 0.67% increase. The value for 2027 is projected to be 4.52 thousand terajoules, a 0.89% rise from the previous year. Finally, for 2028, the forecasted consumption is 4.55 thousand terajoules, which is a 0.66% increase compared to 2027.
The Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2028 is approximately 0.80%, indicating steady but modest growth in bioenergy consumption within the wood and wood products sector.
Future trends to watch for include advancements in bioenergy technology, government policies promoting renewable energy, and fluctuations in wood and wood product demand, which could potentially impact bioenergy consumption patterns. Additionally, sustainability practices and increased environmental awareness may further drive energy consumption in this sector.
