In 2023, the transport equipment sector in Germany consumed renewables and biofuels amounting to an earlier figure before 2024. Moving forward, forecasts from 2024 to 2028 indicate a steady increase in consumption, starting at 36.32 thousand tonnes of oil equivalent in 2024 and reaching 42.67 thousand tonnes by 2028.
Year-on-year growth rates show the following upward trend:
- 2024-2025: A growth rate of 5.93%
- 2025-2026: An increase of 4.47%
- 2026-2027: A 3.43% rise
- 2027-2028: Up by 2.64%
The compound annual growth rate (CAGR) over the five-year period reflects a consistent upward trajectory, pointing towards a positive inclination for renewable and biofuel consumption in the sector.
Looking ahead, factors to watch include government policies on renewable energy usage, technological advancements in biofuels, and their integration into the transportation industry, which could further drive consumption and affect future forecasts.
