From 2013 to 2023, Belgium's production of electricity, gas, steam, and air conditioning supply has exhibited moderate fluctuations but an overall increasing trend. In 2023, the production value stood at 14.13 billion euros. After notable declines in 2014 and 2015, the market showed gradual recovery with significant growth in recent years, particularly in 2019 and 2021, with year-on-year growth percentages of 7.11% and 8.45%, respectively. The Compounded Annual Growth Rate (CAGR) for the past five years leading up to 2023 was 1.82%. Forecasted data from 2024 onwards suggest a steady increase, reaching an anticipated 14.84 billion euros by 2028, which corresponds to a forecast five-year CAGR of 0.75%.
Future trends to watch for:
- Focus on green energy initiatives and regulatory measures could significantly impact production costs and capacities.
- Technological advancements in renewable energy sources and increased efficiency may drive further growth.
- Market volatility due to geopolitical factors affecting energy supply chains should be closely monitored.
- Consumer demand patterns and economic conditions post-2024 will play a crucial role in shaping the market dynamics.