Fuel oil consumption in the construction industry in China stood at 46.3 ten thousand metric tons in 2023. The historical data from 2013 to 2023 exhibits fluctuations with a general downward trend, followed by a mild recovery in recent years. The year-on-year variation from 2022 to 2023 was 1.22%, with a Compound Annual Growth Rate (CAGR) over the past five years standing at 7.78%. Future projections suggest a modest growth, with a forecasted CAGR of 0.72% over the next five years, culminating in a consumption of 48.52 ten thousand metric tons by 2028.
Future trends to watch for include:
- Potential adoption of alternative energy sources influencing fuel oil demand. - Technological advancements and efficiency improvements in construction activities. - Policy shifts and environmental regulations impacting fuel oil consumption patterns. - Economic fluctuations and their effects on construction industry growth.
