The availability of primary solid biofuels for final consumption in Italy showed fluctuations between 2013 and 2023, peaking in 2017 at 300.3 Thousand Terajoules. The data for 2023 stands at 296.69 Thousand Terajoules, with a year-on-year increase of 0.6% from 2022. The last two years saw a modest increase from 294.93 Thousand Terajoules in 2022 to 296.69 Thousand Terajoules in 2023. Over the last five years, the Compound Annual Growth Rate (CAGR) was 1.21%, indicating a steady but slow increase. Forecasted data from 2024 to 2028 suggests a gradual rise, with a forecasted CAGR of 0.45% and an overall growth rate of 2.29% over the period.
Future trends to watch for include:
- The impact of Italy's renewable energy policies and incentives on biofuels consumption.
- Technological advancements in biofuel production and efficiency.
- Market dynamics, such as supply chain disruptions or policy changes influencing global biofuel markets.
- Environmental regulations and sustainability targets driving the demand for renewable energy sources.