The final consumption of primary solid biofuels in Denmark's machinery sector has experienced significant fluctuations over the observed period. After a peak in 2014, the values dipped significantly in 2016 but have shown a general upward trend since 2017. By 2023, this consumption stood at 785.79 Unit Terajoules. Over the previous two years, the year-on-year variations were 2.56% in 2022 and 2.45% in 2023. The compound annual growth rate (CAGR) over the last five years was 9.89%.
Future trends to watch for include:
- Continued growth in biofuel consumption as forecasted, reaching 877.12 Unit Terajoules by 2028.
- The 5-year CAGR from 2024 to 2028 is projected at 1.75%, indicating a stable upward trend.
- Potential impacts of regulatory changes and advancements in biofuel technology on this sector.