Analysis of the final consumption of liquefied petroleum gases (LPG) in the transport equipment sector in Sweden reveals a general decline from 2013 to 2023. The actual usage decreased substantially from 14.21 Thousand Tonnes of Oil Equivalent (TOE) in 2013 to 11.65 TOE in 2023. The year-on-year variation highlights periodic fluctuations, with notable declines in 2014 and 2019, and slight growth in years like 2015 and 2021.
More recent trends from 2021 to 2023 show marginal growth rates of 12.17% in 2021, 0.33% in 2022, and a slight increase of 0.28% by 2023. The compound annual growth rate (CAGR) from 2019 to 2023 is -2.34%, indicating an overall annual decrease in consumption.
Future projections from 2024 onwards forecast steady but minimal growth, with consumption stabilizing around 11.76 TOE by 2028. This period anticipates a 5-year forecasted CAGR of 0.14%, suggesting very light positive growth.
Future trends to watch for include:
- Potential policy shifts towards greener energy sources which could further reduce LPG consumption.
- Technological advancements in transport equipment that enhance fuel efficiency or utilize alternative energy sources.
- Economic factors impacting transportation demand and associated energy use.