In 2023, India led global support for residential fossil fuels at $23.38 million. The U.S. followed with $13.03 million, and Italy showed a 5.28% increase bringing it to $10.97 million. China's significant jump of 17.78% highlights its increasing support, contrasting India's decline of 2.98%. South Africa and Argentina saw notable rises, while Azerbaijan and South Korea faced substantial drops. Most European countries experienced slight decreases or stabilization. Over five years, the compound annual growth rate (CAGR) indicates varied trends but generally suggests increasing support in Asia and selected developing nations.
Future trends to watch include Asia's continued ascent, driven by China's significant growth and potential policy shifts. Meanwhile, European nations may focus on sustainability, thus altering support patterns. Developing countries may see rising trends as energy demands grow. Monitoring policy changes and economic shifts will be crucial in predicting future support allocations.
Top countries in Total Support on All Fossil Fuels for Residential Share by Country (Million US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 23.38 | 2023 | +18.28% | -2.98% | View data |
| 2 | 2 United States | 13.03 | 2023 | -2.43% | -0.89% | View data |
| 3 | 3 Italy | 10.97 | 2023 | +4.69% | +5.28% | View data |
| 4 | 4 Ukraine | 9.81 | 2023 | +10.04% | -0.14% | View data |
| 5 | 5 China | 8.52 | 2023 | +20.19% | +17.78% | View data |
| 6 | 6 Belgium | 7.67 | 2023 | +0.37% | -1.1% | View data |
| 7 | 7 South Africa | 6.32 | 2023 | +4.64% | +8.09% | View data |
| 8 | 8 Australia | 4.76 | 2023 | -0.8% | +6.99% | View data |
| 9 | 9 Greece | 4.55 | 2023 | +2.36% | +3.03% | View data |
| 10 | 10 Argentina | 2.18 | 2023 | +15.88% | +7.68% | View data |
