In 2023, China's household natural gas consumption stood at a lower level compared to future forecasts. By 2024, the consumption is projected at 738.99 hundred million cubic meters, marking a steady increase. From 2024 to 2028, the expected year-on-year growth rates are: 6.0% in 2025, 5.6% in 2026, 5.3% in 2027, and 5.0% in 2028. The CAGR for this period is approximately 5.48%.
Future trends to watch for include:
- China's urbanization and industrial growth may drive increased household natural gas usage.
- Policy shifts toward cleaner energy sources might further accelerate consumption.
- Technological advancements in energy efficiency could influence overall demand.