In 2024, the United States leads in governmental R&D energy budget allocations with $4.56 billion PPP, seeing a 2.6% rise from 2023. France experienced a 2.12% reduction, standing at $1.4 billion, while South Korea's budget stands at $1.32 billion, with a slight 0.19% decline. Mexico increased by 1.61%, reaching $0.88 billion. Italy's and Australia's allocations grew by 2.44% and 4.56%, respectively, with Australia now at $0.29 billion. The Netherlands faced an 8.14% reduction. Finland and Israel saw notable increases of 6.26% and 6.37% respectively.
Future trends to watch include potential shifts in allocations toward renewable energy technologies and the impact of geopolitical factors on energy policies. Countries may increase investments in sustainable energy sources and technologies to align with global climate objectives, with emerging economies potentially scaling their R&D budgets.
Top countries in Government Budget Allocations for R&D in Energy by Country
| # | 10 Countries | Million US Dollars PPP, Constant | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 4,560 | 2023 | +2.23% | +2.6% | View data |
| 2 | 2 France | 1,400 | 2023 | +0.67% | -2.12% | View data |
| 3 | 3 South Korea | 1,320 | 2023 | -0.31% | -0.19% | View data |
| 4 | 4 Mexico | 877.78 | 2023 | +5.29% | +1.61% | View data |
| 5 | 5 Italy | 418.96 | 2023 | +0.47% | +2.44% | View data |
| 6 | 6 Australia | 286.5 | 2023 | -0.001% | +4.56% | View data |
| 7 | 7 Netherlands | 226.22 | 2023 | -0.019% | -8.14% | View data |
| 8 | 8 Sweden | 174.3 | 2023 | -0.051% | +0.02% | View data |
| 9 | 9 Norway | 91.82 | 2023 | +1.37% | +1.73% | View data |
| 10 | 10 Austria | 89.13 | 2023 | -0.4% | -2.23% | View data |
