Forecast: Primary Energy Consumption in Thailand

From 2013 to 2019, primary energy consumption in Thailand showed a steady increase, averaging around a 2% year-on-year growth with an occasional surge, like in 2018 (3.15%). A notable decline of -6.97% occurred in 2020 due to the global pandemic. The energy consumption values were relatively stable from 2021 onwards, progressively recovering but at a sluggish rate, with a CAGR of -1.01% up till 2023. In 2023, primary energy consumption stood at 5.07 Exajoules.

Looking ahead from 2024 to 2028, forecasted data indicates a very modest growth trajectory with a 5-year CAGR of only 0.09%. This suggests a plateauing trend, potentially influenced by market saturation, increased energy efficiency, and shifts towards renewable energy sources.

Future Trends to Watch For:

• Continued adoption of renewable energy technologies.
• Impact of energy efficiency regulations.
• Economic recovery and growth post-pandemic.
• Potential technological advancements influencing energy consumption patterns.