In 2023, India led the global total support on petroleum for residential purposes with $5.61 billion, although experiencing a slight decrease of 2.18% from the previous year. Noticeable increases were seen in Indonesia at 10.95% and China at 8.63%, indicating a shift in focus towards these emerging economies. Notably, Portugal achieved a remarkable growth of 24.83%. Meanwhile, traditional markets like the United States, Italy, and South Africa saw a decline, suggesting changing dynamics in residential petroleum support.
Future trends to watch include:
- The potential for sustained growth in emerging markets such as Indonesia and China.
- Shifts towards alternative energy sources in developed countries might further decrease their petroleum support.
- Potential fluctuating policies affecting support levels due to global economic factors and environmental concerns.
Top countries in Total Support on Petroleum for Residential by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 5,610 | 2023 | +18.97% | -2.18% | View data |
| 2 | 2 Belgium | 1,670 | 2023 | +0.24% | -0.9% | View data |
| 3 | 3 Indonesia | 956.75 | 2023 | -9.42% | +10.95% | View data |
| 4 | 4 United States | 676.92 | 2023 | -2.11% | -3.95% | View data |
| 5 | 5 United Kingdom | 407.75 | 2023 | -0.56% | -0.52% | View data |
| 6 | 6 Ireland | 275.71 | 2023 | +2.94% | +3.78% | View data |
| 7 | 7 Italy | 261.3 | 2023 | -3.64% | -4.34% | View data |
| 8 | 8 China | 79.74 | 2023 | +9.45% | +8.63% | View data |
| 9 | 9 Canada | 51.94 | 2023 | -1.96% | -1.43% | View data |
| 10 | 10 Ukraine | 51.27 | 2023 | +24.73% | +4.56% | View data |
