Sales of piston-type natural gas engines in the U.S. are forecasted to grow gradually from $917.36 million in 2024 to $938.37 million in 2028. The year-on-year growth averages around 1.1% during this period. As of 2023, the sales stood at approximately $912 million, indicating a consistent demand in this market. The Compound Annual Growth Rate (CAGR) over the forecasted period (2024-2028) is approximately 0.56%, reflecting a steady yet modest upward trend.
Future trends to watch include:
- Increasing focus on cleaner energy solutions may boost demand for natural gas engines.
- Advancements in technology that improve engine efficiency and environmental performance.
- Regulatory changes affecting the natural gas industry and engine emissions standards.