In 2023, Argentina led the global support for natural gas in transportation with 39.17 million USD, experiencing a modest growth of 1.2% from the previous year. The United States saw the most significant increase at 18.66%, although its total stood at a smaller 7.01 million USD. Ukraine's support surged by 106.51%, highlighting a strategic shift towards natural gas. Conversely, Brazil and Colombia exhibited declines of 5.08% and 5.89%, respectively. Over a five-year period, the compounded annual growth rates varied, underscoring fluctuating priorities across countries.
Looking ahead, emphasis on sustainable energy solutions and regional geopolitical dynamics will likely influence investments in natural gas for transportation. Countries prioritizing energy security and green initiatives may increase their support, while others might divert resources to alternative technologies like electrification or hydrogen fuel. Observing policy changes and technological advancements will be crucial for gauging future trends in this sector.
Top countries in Total Support on Natural Gas for Transportation Share by Country (Million US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Argentina | 39.17 | 2023 | +8.69% | +1.2% | View data |
| 2 | 2 Brazil | 30.74 | 2023 | +2.64% | -5.08% | View data |
| 3 | 3 France | 23.29 | 2023 | +3.11% | +3.18% | View data |
| 4 | 4 United States | 7.01 | 2023 | +4.21% | +18.66% | View data |
| 5 | 5 Ukraine | 2.8 | 2023 | -1.74% | +106.51% | View data |
| 6 | 6 Colombia | 2.44 | 2023 | -0.98% | -5.89% | View data |
| 7 | 7 Lithuania | 1.2 | 2023 | +17.9% | -0.73% | View data |
| 8 | 8 Finland | 1.18 | 2023 | +11.99% | View data | |
| 9 | 9 Mexico | 1.03 | 2023 | +10.74% | View data | |
| 10 | 10 Belarus | 0.82 | 2023 | +3.55% | +6.22% | View data |
