Biomass consumption in China has shown a fluctuating trend from 2013 to 2023, with a noticeable decline over the last couple of years. The value in 2023 stood at 13.25 Units of Domestic Material Consumption. Year-on-year variations have ranged from negative 4.99% in 2013 to positive 7.95% in 2015. Over the last two years, the trend has continued to decline at a rate of negative 1.92% each year. When analyzed over the past five years (2018-2023), the Compound Annual Growth Rate (CAGR) shows an average yearly decrease of 2.2%.
Looking forward, the forecast till 2028 indicates a continued decline in biomass consumption, with an expected annual decrease in CAGR at 1.71%. The overall reduction in biomass usage by 2028 is projected to be 8.26% from the 2023 value.
Future trends to watch for:
- Technological advancements in renewable energy alternatives.
- Changes in governmental policies promoting greener fuel sources.
- Economic factors influencing energy consumption patterns.
