The chronological review of gasoline consumption in China's construction sector, illustrated by the most recent actual data up to 2023, shows volumes standing at 564.44 thousand metric tons, marking a steady ascending pattern. The year-on-year variation for 2023 was 3.33%, with a compounded annual growth rate (CAGR) of 2.25% over the preceding five years. Over the longer term, significant increases were noted, with earlier years such as 2015 and 2018 displaying substantial year-on-year growth of 23.42% and 11.64% respectively.
Yearly forecasts indicate the consumption is projected to grow continually, reaching approximately 654.14 thousand metric tons by 2028. The forecasted CAGR over the next five years is 2.34%, translating to an overall projected growth rate of 12.29% by 2028.
Future trends to watch for include shifts in government infrastructure spending policies, technological advancements in construction equipment, and changes in environmental regulations, which could impact the gasoline consumption rates in the sector.
