The energy consumption in the transport sector in Vietnam has shown significant variability over the last decade, with the value at 25.52 units in 2023. There have been marked fluctuations; post-2015, consumption peaked, followed by notable declines, especially in 2020 likely due to disruptions from the COVID-19 pandemic. Recent years show a recovery with a 5.28% increase from 2022 to 2023. The five-year CAGR indicates an average annual increase of 1.67% from 2018 to 2023.
Looking ahead, the forecast data from 2024 onwards suggest a steady uptrend, with the energy consumption projected to grow consistently, achieving a 5.37% growth rate over the next five years and a CAGR of 1.05%. This indicates a gradual yet positive growth trajectory as Vietnam's transport sector continues to expand and evolve.
Future trends to watch for include:
- Adoption of greener technologies and policies which may influence energy consumption.
- Infrastructure developments and urbanization trends impacting transport energy needs.
- Potential effects of economic fluctuations and international energy markets.
