Forecast: Energy Consumption in Transport in Argentina

The energy consumption in transport in Argentina has exhibited varying trends over the past years. In 2023, it stood at 31.72 units of total energy consumption. The year-on-year variation between 2022 and 2023 was an increase of 3.05%, indicating modest growth. Looking over a longer period, the compound annual growth rate (CAGR) from 2018 to 2023 suggests a very slight decrease at 0.076%. The energy consumption dropped significantly in 2020 due to the pandemic but rebounded strongly in 2021.

Projected forecasts for the years 2024 to 2028 suggest a slight, continuous decline in energy consumption, with a forecast 5-year CAGR of -0.03% and an overall reduction of 0.16%. The energy consumption levels are expected to plateau around 31.66 units by 2028, reflecting minimal changes over the period.

Future trends to watch for include:

• The potential impact of government policies promoting energy efficiency in transport.
• The transition towards alternative fuel sources which may further influence energy consumption patterns.
• Economic factors that could either hamper or boost transport activities and thus influence energy usage.
• Technological advancements in transport that could lead to more fuel-efficient vehicles and reduced energy requirements.