Analysis of the forecasted liquefied petroleum gases (LPG) final consumption in the machinery sector in Finland indicates a steady, albeit slow, upward trend from 2024 through 2028. In 2023, the actual value stood at X Thousand Tonnes of Oil Equivalent (data not provided). Forecasts for 2024 to 2028 suggest incremental increases year-on-year with the following projected values: 16.39 in 2024, 16.51 in 2025, 16.62 in 2026, 16.72 in 2027, and 16.81 in 2028.
The projected year-on-year variations are minute, ranging from around 0.73% to 0.58%. Over the last two years, the average year-on-year increase is modest. Calculating the Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 yields an average annual growth rate of about 0.64%.
Key future trends to watch:
- Technological advancements in machinery that may lead to increased efficiency and altered LPG consumption patterns.
- Environmental regulations and shifts towards greener energy sources that may impact LPG demand.
- Economic factors in Finland which could influence the overall industrial and machinery sector, affecting LPG usage.