Germany's biofuels consumption is forecasted to increase steadily from 2024 to 2028. In 2023, the actual consumption stood at 57.45 thousand barrels of oil equivalent per day. The year-on-year growth rate is progressively rising, with an annual increase rate of approximately 2.55% from 2024 to 2025, 2.45% from 2025 to 2026, 2.35% from 2026 to 2027, and 2.30% from 2027 to 2028. Over the five-year period from 2024 to 2028, the Compound Annual Growth Rate (CAGR) is around 2.41%, reflecting a consistent uptrend in biofuels consumption.
Future trends to watch for:
- Technological advancements in biofuel production efficiency.
- Environmental regulations influencing biofuel adoption.
- Market dynamics affecting biofuel pricing and demand.
- Expansion of biofuel infrastructure and distribution channels.
- Government incentives and policies promoting renewable energy sources.