In 2023, the consumption of blended biodiesels in Sweden's transport equipment sector stood at 2,380.0 tonnes of oil equivalent. From 2013 to 2023, the overall trend shows significant growth, particularly in the years 2016, 2018, and 2022. There were notable year-on-year variations, with the most considerable increase of 68.21% in 2018 and the sharpest decrease of -44.68% in 2020. Over the past five years, the compound annual growth rate (CAGR) was approximately 7.41%, showing moderated but stable growth. Starting from 2024, a forecasted CAGR of 7.47% indicates a sustained growth trend through 2028.
Future trends to watch for include:
- Government policies and incentives to promote renewable energy in the transport sector.
- Technological advancements improving biodiesel efficiency and supply chain dynamics.
- Market response to global energy price fluctuations and their impact on biodiesel adoption.
- Potential environmental regulations and sustainability targets influencing biodiesel demand.