In 2023, Germany led Global Total Energy RD&D at $2 billion, showing a steady 5.38% increase year-on-year. Noteworthy growth includes Hungary at 36.99% and Norway at 14.46%. While South Korea and Austria saw strong growth, Brazil, Switzerland, Finland, Estonia, and Slovakia faced declines. Over five years, variations suggest shifting RD&D investments, with Hungary, Denmark, and Norway seeing notable average annual growth rates.
Future trends to watch include the potential for increased RD&D investment in renewable energy sources, the rise of technological innovation, and aggressive expansion strategies from countries like South Korea and Italy to boost their energy efficiency efforts and reduce carbon footprints.
Top countries in Total Energy RD&D by Country
| # | 10 Countries | Million US Dollars PPP = 2018 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 2,000 | 2023 | +4.41% | +5.38% | View data |
| 2 | 2 Brazil | 1,470 | 2023 | +2.22% | -3.18% | View data |
| 3 | 3 Canada | 1,190 | 2023 | +1.1% | +3.58% | View data |
| 4 | 4 South Korea | 1,110 | 2023 | +3.27% | +6.85% | View data |
| 5 | 5 Italy | 775.17 | 2023 | +0.092% | +1.54% | View data |
| 6 | 6 Norway | 596.13 | 2023 | +9.63% | +14.46% | View data |
| 7 | 7 Netherlands | 425.32 | 2023 | +0.38% | +4.93% | View data |
| 8 | 8 Belgium | 358.06 | 2023 | -0.081% | +7.34% | View data |
| 9 | 9 Switzerland | 333.55 | 2023 | -0.95% | -1.32% | View data |
| 10 | 10 Sweden | 325.28 | 2023 | +1.89% | +7.86% | View data |
