The projected imports of renewables and biofuels in France are set to rise from 2.57 million tonnes of oil equivalent in 2024 to 3.4 million tonnes by 2028. This represents a steady annual growth in imports, with year-on-year increases averaging around 7% to 8%. The compound annual growth rate (CAGR) over the five-year period stands at approximately 7.85%. In 2023, the import volume was significantly lower, marking the importance of forecasted escalations in demand.
Future trends to watch for include:
- Increased investment in renewable energy infrastructure to support growing imports.
- Policy changes and incentives that further boost the use of biofuels.
- Potential fluctuations due to international market dynamics and trade agreements.
- Continued technological advancements in renewable energy that could alter import patterns.