LNG Engine Market to Reach $10.7 billion, Globally, by 2033 at 7.1% CAGR: Allied Market Research [Yahoo! Finance]
Cummins Inc. (CMI)
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Source: Yahoo! Finance
The rise in global LNG production and infrastructure development further supports market expansion. However, high initial investment costs, limited refueling infrastructure, and fluctuations in LNG prices act as key restraints. Despite these challenges, advancements in LNG engine technology, government incentives for green energy adoption, and increasing interest in LNG as a transition fuel present significant opportunities. Emerging markets and the expansion of LNG bunkering facilities further enhance growth prospects in the industry. WILMINGTON, Del. March 25, 2025 /PRNewswire/ -- Allied Market Research published a report, titled, " LNG Engine Market by Type (Spark-ignited, Diesel-ignited, Direct Gas Injection), by Application (Marine, Power Generation, Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the " LNG engine market" was valued at $5.4 billion in 2023, and is estimated to reach $10.7 billion by 2033, growing at a CAGR of 7.1
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