The sales of heavy fuel oils, heavy diesel-type, and heavy gas-enrichment oils in the US are forecasted to decline, dropping from $9.489 billion in 2024 to $7.915 billion by 2028. Comparatively, from 2023 to 2024, there is a notable decrease, though the exact 2023 value isn't provided, a downward trend is apparent across the forecasted period. Each successive year shows a negative year-on-year percentage change, and the compound annual growth rate (CAGR) over the five-year period underlines a continuous decline.
Future trends to watch for:
- Transition to cleaner energy sources, impacting heavy oil demand.
- Policy changes promoting renewable energy adoption.
- Technological advances in fuel efficiency.
- Shifts in consumer and industrial behavior towards sustainable practices.
