In 2023, Belgium's gross inland consumption of liquefied petroleum gases (LPG) stood at 18.75 Thousand Gigawatthours. Based on the forecasted data, the consumption figures are expected to rise consistently each year. In 2024, the consumption is forecasted to be 19.33 Thousand Gigawatthours, increasing by 3.1% from the previous year. This upward trend continues, with a 3.1% rise in 2025, a 3.0% increase in 2026, a 2.8% growth in 2027, and a 2.7% increase in 2028. Over the five-year period from 2024 to 2028, the Compound Annual Growth Rate (CAGR) is expected to be approximately 2.9%.
Future trends to watch for :
• Technological advancements in LPG production and distribution.
• Government policies and incentives promoting cleaner energy sources.
• Economic factors influencing energy consumption patterns.
• Developments in LPG applications across various sectors, including residential, commercial, and industrial uses.
• Potential impacts of global energy market fluctuations on LPG prices and availability.