In 2023, Austria's primary solid biofuels available for final consumption stood at 137.47 Thousand Terajoules. Over the past two years, the year-on-year variation observed was relatively modest, with an increase of 0.66% from 2022 to 2023, following a slight decline of 2.61% from 2021 to 2022. Analyzing the data over the last five years, the Compound Annual Growth Rate (CAGR) signifies an average annual growth of 1.74%.
Looking ahead, the forecasted data indicates a steady upward trend with a projected increase reaching 141.81 Thousand Terajoules by 2028. The estimated 5-year CAGR is 0.49%, translating to an overall growth rate of 2.5% over the forecast period. This suggests a stable but gradual increase in the consumption of primary solid biofuels in Austria.
Future trends to watch for include:
- Advancements in biofuel technology which could enhance efficiency and utilization rates.
- Changing energy policies and regulations potentially impacting biofuel production and consumption.
- Market dynamics such as shifts in demand due to environmental awareness and shifts in alternative energy sources.