Forecast: Fossil Fuel Energy Consumption in Malaysia

The data demonstrates a gradual increase in fossil fuel energy consumption in Malaysia from 2013 to 2023, reaching a value of 97.51. From 2013 to 2023, annual growth ranged from around 0.012% to 0.2%, eventually stabilizing at approximately 0.083% annually in recent years. The average annual growth rate (CAGR) over the last five years was around 0.087%, indicating a consistent upward trend.

Looking forward, from 2024 to 2028, forecasts predict a slight slowdown with an average annual growth rate (CAGR) of 0.06%, culminating in an overall growth rate of 0.31% across this period. This suggests a continued, albeit modest, increase in fossil fuel energy consumption.

Future trends to watch for include:

• Shifts towards renewable energy sources and their impact on fossil fuel demand.
• Policy changes related to energy consumption and sustainability.
• Technological advancements in energy efficiency and their adoption in Malaysia.
• Global economic factors influencing fuel prices and availability.