Forecast: Energy Consumption in Transport in India

The energy consumption in the transport sector in India has shown a varied trend from 2013 to 2023. In 2023, energy consumption stood at 16.04 units. The data reveals fluctuating year-on-year variations ranging from a high of 4.72% in 2015 to a significant dip of -8.22% in 2020. Over the past five years, the sector experienced a negative compound annual growth rate (CAGR) of -0.98%, indicating a general decline in energy usage. However, the forecasts from 2024 to 2028 exhibit a positive turnaround with a projected CAGR of 0.81%, suggesting a revival and steady growth trajectory.

Looking ahead, several future trends are worth monitoring:

- The impact of emerging electric vehicle (EV) adoption and corresponding infrastructure development.

- Government policies and incentives aimed at reducing carbon emissions and enhancing energy efficiency.

- Technological advancements in transport and renewable energy sources integration.