The diesel oil consumption in the construction sector in China stood at 516.1 ten thousand metric tons in 2023. From 2013 to 2023, consumption showed notable fluctuations. It peaked in 2013 at 556.97 and experienced a significant drop by 2020 to 503.92. A minimal upward trend was observed in subsequent years, with a slight year-on-year growth of 0.71% in 2023. The compound annual growth rate (CAGR) over the past five years was -1.02%.
Future projections indicate a modest rise from 2024 to 2028, with a forecasted CAGR of 0.38%, leading to a value of 529.41 ten thousand metric tons in 2028. This suggests a stabilizing trend with overall growth of 1.94% over this period.
Future trends to watch for include:
- Technological advancements in construction that may influence diesel oil demand
- Government policies promoting energy efficiency and transitions towards cleaner energy sources
- Fluctuations in construction activity due to economic factors
