In 2023, Germany led the European machinery sector in renewables consumption, holding a significant share compared to other nations. Denmark, Serbia, and Sweden also demonstrated robust performance with double to mid-single digit percentage increases, except for Serbia which saw a marked decline. Austria, Hungary, and Estonia experienced minor changes. On the contrary, countries like Finland and Slovenia showed strong positive momentum while France and Romania faced consumption declines. The CAGR over five years reflects a steady shift towards renewable consumption across Europe with Norway posting the highest growth rate over the period.
Future trends to watch include technological advancements in renewable machinery leading to efficiencies and cost reductions. Regulatory support from the EU for green policies and investments will further drive the sector's shift to renewables. Continual enhancements in biofuel technologies and infrastructure development are likely to boost consumption, contributing to an ongoing trend of increased renewables share across the continent's machinery sector.
Top countries in Machinery Sector Final Consumption of Renewables and Biofuels Share by Country (Terajoules)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 35.1 | 2023 | +2.54% | +1.47% | View data |
| 2 | 2 Denmark | 11.31 | 2023 | +0.93% | +8.88% | View data |
| 3 | 3 Serbia | 7.44 | 2023 | +2.45% | -14.66% | View data |
| 4 | 4 Sweden | 6.48 | 2023 | +1.88% | +15% | View data |
| 5 | 5 Austria | 5.39 | 2023 | -0.12% | +1.91% | View data |
| 6 | 6 Slovakia | 3.55 | 2023 | +4.78% | +0.76% | View data |
| 7 | 7 Romania | 3.38 | 2023 | +13.59% | -3% | View data |
| 8 | 8 Czech Republic | 3.28 | 2023 | +1.53% | +8.06% | View data |
| 9 | 9 Ukraine | 3.26 | 2023 | +17.55% | -8.84% | View data |
| 10 | 10 Hungary | 2.61 | 2023 | +2.91% | +5.41% | View data |
