From 2013 to 2023, wood fuel production in India depicted a steady declining trend, decreasing from 307.71 million cubic meters to 300.02 million cubic meters. Notably, 2023 stands at 300.02 million cubic meters. Variations observed in the year-on-year percentage reveal a consistent drop until 2021, followed by slight stabilization in 2022 but a minor decline again in 2023. The compound annual growth rate (CAGR) averagely decreased over the last five years by approximately -0.22%.
Future trends to watch for:
- The forecasted production from 2024 onwards suggests a very gradual decline, indicating stabilization. The forecast 5-year CAGR is -0.01%, with a forecast 5-year growth rate of -0.05%, which implies minimal changes in production levels.
- Watch for policy changes, advancements in alternative energy sources, and environmental regulations affecting wood fuel demand and production.
