In Belgium, the output of environmental services in electricity, gas, steam, and air conditioning supply has shown steady growth from 2014 to 2023. In particular, the value in 2023 stood at 2.33 billion euros. Over the last two years, the year-on-year growth rates were 2.10% in 2022 and 1.66% in 2023, with a compound annual growth rate (CAGR) of 2.46% over the last five years.
Key observations include:
- In 2014, the output was 2.06 billion euros, a slight decrease in 2015, followed by fluctuations until 2018.
- There was marked growth from 2019 onward, with a peak increase of 4.08% in 2020.
- The CAGR highlights the industry's average annual growth pace of 2.46% from 2019 to 2023.
Future trends to watch for:
- Continued moderate growth with the trend suggesting a forecasted 5-year CAGR of 0.63%, projecting cautious optimism.
- Potential market disruptions or innovations in environmental services could shift these projections significantly.
- Policy changes, technological advancements, and shifts in consumer preferences for sustainable services will be pivotal in shaping future growth trajectories.
