Forecast Models Derived by Trend Analysis for the BRICS Economies' Primary Energy Consumption

In this study, trend analysis-based forecast models were derived for the primary energy consumptions (PECs) of Brazil, the Russian Federation, India, China and South Africa economies, known as the BRICS worldwide using total population (TP) and PECs as independent and dependent variables from 1985 to 2023. The derived models were then statistically verified by several indices. Forecasting accuracies of the derived models were also measured using various error indicators. Additionally, the PECs of the BRICS economies were projected from 2025 to 2035 using the proposed models. The results reveal that the future PECs of the related economies can be successfully projected with the proposed models. Moreover, the forecasting results make it abundantly evident that substantial rises are anticipated for the related economies' future PECs. It is thought that the study's results will allow the way for the proposal and establishment of sustainable strategies for controlling the PECs of the BRICS economies using the proposed methodology.