The biofuels consumption in Germany showed fluctuating trends from 2013 to 2023, starting at 112.72 Petajoules in 2013 and reaching 128.25 Petajoules in 2023. The consumption saw notable high growth in 2020 with a 22.11% increase, followed by a correction in subsequent years, ultimately achieving a moderate 2.72% increase in 2023. The average annual growth rate (CAGR) from 2018 to 2023 was 1.72%. Looking forward, the projected data from 2024 to 2028 suggests a consistent increase, with a forecasted CAGR of 1.93% and an overall growth rate of 10.02% by 2028.
Future trends to watch for include:
- Technological advancements in biofuel production could drive efficiency and increase consumption.
- Government policies and subsidies affecting renewable energy sources.
- Global oil price fluctuations influencing biofuel's competitive pricing.
- Environmental regulations encouraging a shift towards greener energy sources.
- Market adoption of electric vehicles which might affect biofuel consumption in the transport sector.