In the forecast from 2024 to 2028, diesel oil consumption in China is projected to continuously decline, moving from 11.34 to 8.34 ten million metric tons. In 2023, consumption stood at 12.10 ten million metric tons, marking a notable decrease across the forecast period. Year-on-year analysis reveals a decreasing percentage trend from 2024 to 2028, underscoring a consistent contraction. The compound annual growth rate (CAGR) projects a significant average annual reduction over these five years.
Future trends to watch include the impact of China's push for renewable energy, efforts to improve air quality, and advancements in electric vehicle technology which may further reduce diesel consumption.
