In 2023, the lubricants energy supply in Belgium stood at 74.8 Thousand Tonnes of Oil Equivalent. The forecasted data from 2024 to 2028 shows a consistent downward trend.
Year-on-year variation reveals:
- 2024: -1.72%
- 2025: -1.75%
- 2026: -1.64%
- 2027: -1.56%
- 2028: -1.46%
The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is approximately -1.63% annually, indicating a gradual decrease in the lubricant energy supply.
Future trends to watch for: Expected advancements in energy-efficient technologies, more stringent environmental regulations, and a shift towards renewable energy sources could further impact the lubricant energy supply market. Monitoring technological innovations and regulatory changes will be crucial for projecting future supply trends.
