Between 2013 and 2023, Austria's biofuels consumption demonstrated significant volatility. Initial growth was followed by a marked decline post-2016. In 2023, consumption stood at 7.88 Thousand Barrels of Oil Equivalent Per Day, reflecting a modest year-on-year increase of 2.35%. Over the last five years, the consumption experienced an average annual decline of 3.42%.
From 2024, forecasts suggest a recovery, with a projected average annual growth rate of 1.64% over the next five years, potentially reaching 8.74 Thousand Barrels of Oil Equivalent Per Day by 2028. This growth represents an anticipated overall increase of 8.49% from 2023 to 2028.
Future trends to watch include advancements in biofuel technology, regulatory policies promoting renewable energy, and potential market shifts due to geopolitical and economic factors impacting fuel demand.
