The United States leads in Global RD&D investments in fossil fuels, with significant expenditure, yet experiencing a slight decline of 1.81% in 2023. Canada and the Netherlands face substantial downsizing, whereas Belgium and Estonia witness striking increases of 86.11% and 44.81%, respectively. Austria also sees a noteworthy rise in RD&D investments. France, Australia, Poland, and Switzerland exhibit minor fluctuations. Mexico encounters the steepest decline of 38.98%, indicative of possible strategic shift or budgetary constraints.
Future trends may include increased investment in cleaner technologies influenced by global decarbonization efforts. Emerging technologies and regulatory frameworks will impact RD&D allocations in fossil fuels globally.
Top countries in RD&D in Fossil Fuels by Country
| # | 10 Countries | Million US Dollars PPP = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 553.56 | 2023 | -0.52% | -1.81% | View data |
| 2 | 2 Canada | 149.13 | 2023 | +3.51% | -15.5% | View data |
| 3 | 3 France | 72.04 | 2023 | -3.76% | -0.46% | View data |
| 4 | 4 Australia | 50.52 | 2023 | -45.31% | -2.08% | View data |
| 5 | 5 Belgium | 28.09 | 2023 | -1.26% | +86.11% | View data |
| 6 | 6 Poland | 27.21 | 2023 | -3.06% | +1.4% | View data |
| 7 | 7 Netherlands | 20.11 | 2023 | +3.16% | -12.93% | View data |
| 8 | 8 Mexico | 13.69 | 2023 | -60.65% | -38.98% | View data |
| 9 | 9 Switzerland | 13.25 | 2023 | +0.48% | +6.76% | View data |
| 10 | 10 Portugal | 3.09 | 2021 | +162.62% | View data |
