In 2024, the machinery sector in Germany is projected to consume 60.35 thousand tonnes of oil equivalent in renewables and biofuels, forecasting a growth in consumption until 2028 reaching 67.1 thousand tonnes. Compared to 2023, where consumption was lower, the sector shows a consistent upward trend. Year-on-year, from 2024 to 2028, the consumption is expected to grow incrementally, reflecting the machinery sector's shift towards sustainable energy sources. The compound annual growth rate over these five years indicates a steady increase, averaging over two percent annually.
Future trends to watch include:
- Advancements in renewable technology improving energy efficiency.
- Policy changes and incentives pushing for wider adoption of biofuels.
- Potential disruptions from global supply chain changes affecting biofuel availability.
- Innovation in energy storage and distribution enhancing sector uptake.