The energy consumption in transport in Thailand stood at 28.48 units in 2023. Analyzing the historical data from 2013 to 2023, a fluctuating trend is observed with an initial decline followed by a gradual increase. The significant year-on-year variation in the past decade includes a peak in 2016 and 2017, showing growth rates of 6.8% and 6.81% respectively. In recent years, the growth has been steadier with year-on-year variations such as 1.22% in 2022 and 0.96% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years (2018-2023) was 1.64%.
The forecast data for 2024-2028 shows that the growth rate is expected to slow down with a CAGR of 0.36%. By 2028, the energy consumption is predicted to reach 29.22 units, indicating a 1.81% total growth rate over this period.
Future trends to watch for:
- Impact of electric vehicles adoption and government policies.
- Technological advancements in fuel efficiency.
- Shifts in public transport usage post-COVID-19 pandemic.
- Developments in alternative energy sources and their market penetration.
