The forecasted production of primary solid biofuels in Norway remains steady at 1.15 Million Tonnes Of Oil Equivalent from 2024 to 2028. This stability suggests no anticipated growth or decline in production capacity over the forecast period. It is important to note that the primary solid biofuels production in 2023 was also recorded at 1.15 Million Tonnes Of Oil Equivalent. Therefore, there has been no year-on-year variation over the last two years. The Compound Annual Growth Rate (CAGR) over the past five years is effectively 0%, indicating negligible long-term growth.
Future trends to watch for:
- Technological advancements in biofuel production efficiency which could alter future production levels.
- Governmental policy changes and incentives aimed at renewable energy could impact production volumes.
- Market demand shifts towards more sustainable energy sources, potentially affecting production trends.