The consumption of fuel oil in the machinery sector in Italy saw significant fluctuations from 2013 to 2023. Starting at 3.96 thousand terajoules in 2013, it peaked at 5.56 thousand terajoules in 2016 before experiencing a steady decline, reaching 1.63 thousand terajoules in 2023. Over the past two years, the year-on-year variation was -1.74% in 2022 and -12.6% in 2023, with a CAGR of -14.04% from 2018 to 2023, indicating a downward trend.
Looking ahead, the forecast shows the decline continuing, with values expected to drop sharply from 1.31 thousand terajoules in 2024 to just 0.05283 thousand terajoules by 2028. This points to a forecasted 5-year compound annual growth rate (CAGR) of -47.37%, demonstrating a drastic reduction in fuel oil usage in the sector. Future trends to watch for include advances in alternative energy sources, tightening environmental regulations, and technological improvements in machinery efficiency which are likely influencing this downward trajectory.
