From 2013 to 2023, Australia's energy consumption in transport has shown an overall modest upward trend. It started at 38.81 units in 2013, peaked at 40.67 units in 2019, but dipped to 39.87 units in 2023. The year-on-year variations indicate fluctuations, with a notable dip in 2020 by 3.79% due to disruptions likely linked to the COVID-19 pandemic, followed by a recovery. The five-year CAGR ending in 2023 was -0.21%, reflecting the short-term volatility.
From 2024 onwards, the forecast suggests stability with minor increases up to 39.88 units in 2028. The five-year CAGR from 2024 is projected at 0.01%, indicating negligible growth.
**Future trends to watch for:**
- Technological advancements in fuel efficiency and electric vehicles.
- Government policies impacting fuel prices and carbon emissions.
- Consumer preferences shifting towards more sustainable transport options.
- Economic factors affecting overall transport demand.
