The biofuels consumption in Belgium was at 33.14 Petajoules in 2023. The historical data shows a clear upward trend from 2013 to 2023, despite some fluctuations. Between 2013 and 2023, biofuels consumption increased from 14.39 Petajoules to 33.14 Petajoules, with notable yearly variations.
Recent trends indicate:
- 2022: +8% YoY
- 2023: +2.62% YoY
The 5-year CAGR (2018-2023) is recorded at 11.25%, demonstrating strong growth in biofuels consumption. Moving forward, from 2024 to 2028, the forecasted CAGR suggests moderate growth at 1.97%, with the total consumption expected to reach 37.51 Petajoules by 2028, marking a 10.24% increase over the forecasted period.
Trends to watch for:
- Impact of regulatory policies on biofuels
- Technological advancements in biofuel production
- Market adaptation to renewable energy sources
