According to the latest report by IMARC Group, titled "Liquefied Petroleum Gas (LPG) Market Share : Global Industry Trends, Size, Growth, Opportunity and Forecast 2020-2025," the global liquefied petroleum gas (LPG) market grew at a CAGR of around 6% during 2014-2019 and expects the market to continue its moderate growth during the next five years.
Liquified petroleum gas (LPG) is a clean and efficient source of energy combination of flammable hydrocarbon gases and volatile hydrocarbons, such as propane and butane. It is obtained during the process of oil and natural gas production and is liquefied through pressurization. In recent years, the demand for LPG has escalated across diverse sectors as it burns readily in air and has higher heat energy.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Liquefied Petroleum Gas (LPG) Market Trends:
The global liquified petroleum gas (LPG) market is primarily driven by the rising environmental consciousness among the masses about the benefits of using LPG. It offers clean-burning, no soot, easily controllable flame temperatures and minimal sulfur content, making it highly efficient for heating, cooking and automotive applications. Governments of various countries are also undertaking initiatives to significantly increase the uptake of LPG by launching favorable policies and offering subsidies and tax concessions to suppliers. Moreover, improvements in the extraction and refining technologies for natural gases are also providing a positive impact on the market growth.
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Global Liquefied Petroleum Gas (LPG) Market 2020-2025 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Bharat Petroleum Corporation Limited, BP P.L.C., Chevron Corporation, China Gas Holdings Ltd., Exxon Mobil Corporation, Origin Energy Limited, Petroliam Nasional Berhad, Phillips 66 Company, Repsol S.A., Royal Dutch Shell PLC and Valero Energy Corporation.
The report has segmented the market on the basis on region, source, application and supply mode.
Breakup by Source:
Refinery
Associated Gas
Non-Associated Gas
Breakup by Application:
Residential
Commercial
Refinery and Petrochemical
Transportation
Others
Breakup by Supply Mode:
Packaged
Bulk and On-site
Breakup by Region:
North America:( United States, Canada)
Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico,Others)
Middle East and Africa
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Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021- 2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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