Bioenergy final consumption in the wood and wood products sector in Belgium stood at 2.28 Thousand Gigawatthours in 2023. From 2013 to 2019, the consumption displayed an oscillating pattern with notable fluctuations, peaking at 2.24 in 2016 followed by a decline in subsequent years. The lowest year-on-year variation was -5.87% in 2017, indicating a significant drop, while 2021 and 2022 saw a resurgence with 5.88% and 2.87% growth respectively. Over the last five years, the compound annual growth rate was 1.58%. The forecast predicts steady growth, with a five-year CAGR projected at 1.95%, reaching 2.58 Thousand Gigawatthours by 2028.
Future trends to watch for in the bioenergy market within this sector include technological advancements that increase energy efficiency, regulatory changes promoting renewable energy use, and potential volatility in the supply of raw materials. Continuous innovation and policy incentives could further accelerate growth beyond current forecasts. Additionally, monitoring global market conditions and their impact on the availability and cost of bioenergy resources will remain crucial for strategic planning.