As of 2024, the forecast for China's fuel oil consumption in agriculture, forestry, animal husbandry, fishery, and water conservancy stands at 1.14 ten thousand metric tons. In 2023, consumption was slightly lower at 1.13 ten thousand metric tons, indicating a modest year-on-year growth of approximately 0.88%. This upward trend is expected to continue slightly, with forecasts suggesting an average annual growth (CAGR) of about 0.44% from 2024 to 2028, reaching 1.17 ten thousand metric tons by 2028.
Future trends to watch for:
- Technological advancements and adoption of more efficient machinery in these sectors could impact consumption patterns.
- Environmental regulations and emphasis on sustainable practices may influence shifts towards alternative energy sources.
- Economic factors and policy changes impacting the larger energy market could alter fuel consumption trends.