Caterpillar (CAT) investor relations material

Segment overview and financial performance

• Power & Energy is the largest and fastest-growing segment, with $28.6B in 2025 sales and revenues, surpassing Construction Industries and Resource Industries.

• The segment includes power generation, oil & gas, industrial, data centers, distributed generation, and natural gas.

• The Rail Division was recast into Resource Industries as of March 2026, affecting segment reporting.

Market positioning and growth drivers

• Positioned for sustained, strategic growth through 2030, targeting over 3x sales in power generation and significant capacity expansions in large engines and gas turbines compared to 2024.

• Historic and projected global electricity demand is rising sharply, with data center demand expected to grow 200% by 2035.

• Natural gas is increasingly important as a transition fuel, with global demand projected to rise 15% from 2023 to 2035.

• Renewable energy is growing rapidly but requires firm capacity, often provided by distributed generation solutions.

Product and service portfolio

• Offers a comprehensive range of products: reciprocating diesel and gas engines, gas turbines, generator sets, switchgear, energy storage, and microgrids.

• Solutions span the entire value chain: upstream (drilling, well servicing), midstream (compression, transmission), downstream (LNG, refining), and distributed generation.

• Provides site-level solutions for data centers, including primary and backup power, controls, and energy storage.