The natural gas consumption in China's construction sector stood at 2.67 hundred million cubic meters in 2023, reflecting a year-on-year increase of 3.09% from the previous year. Over the last two years, the sector saw a modest uptick, with a cumulative increase of 6.36%. The five-year CAGR from 2018 to 2023 was 1.41%, indicating a relatively slow growth pace. The forecasted trend suggests a more optimistic outlook, with an expected five-year CAGR of 2.29% from 2024 to 2028, culminating in a total expected growth rate of 12% by 2028.
Future trends to watch for include potential policy shifts towards renewable energy sources, technological advancements in construction practices that can either increase or reduce natural gas usage, and overall economic conditions impacting construction activities. The ongoing urbanization and infrastructure development in China may continue to drive demand, while global economic forces and environmental regulations could also play significant roles in shaping future consumption patterns.
