Global LPG Petroleum Gas Market: Detailed Analysis by Latest Trends, Emerging Size, Share, Sale and Forecast to 2025
LPG Petroleum Gas Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of lpg petroleum gas market by source (refinery, associated gas, non-associated gas), application (residential, chemical, industrial, transportation, commercial) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the lpg petroleum gas market it includes the five years Industry analysis and the 6 years annual forecast from to 2024. Some of the prominent participants in the global lpg petroleum gas market are SHV Energy N.V., Repsol S.A., Copagaz Distribuidora de Gas Ltda, China Gas Holdings Limited, Kleenheat Gas Pty Limited, Origin Energy, UGI Corporation, Royal Dutch Shell plc, Exxon Mobil Corporation, and British Petroleum Plc. The global LPG petroleum gas market is projected to grow at a CAGR of 3.1% over the forecast period of 2018-2024.
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Rising Consumption of Autogas has Resulted in Increased Adoption of LPG Which is Driving the Growth of the LPG Petroleum Gas Market
Rising consumption of autogas has resulted in increased adoption of LPG which is driving the growth of the LPG petroleum gas market. Favorable government initiatives and subsidies to promote the petroleum product as the major alternative fuel to conventional counterparts including coal and wood fuel are boosting the market growth. However, improper use and lack of maintenance of LPG cylinders lead to accidents are the factors likely to restrain the growth of the LPG petroleum gas market.
Furthermore, advancements in technologies in improving the energy efficiency of the existing equipment along with initiatives taken by the government to educate the suburban and rural populations regarding the benefits of LPG are projected to provide several growth opportunities for the key players in the LPG petroleum gas market over the years to come.
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Asia-Pacific Held the Largest Demand LPG Petroleum Gas Market
Among the Geographies, Asia-Pacific held the largest demand due to high population base and expanding population abundant resource availability coupled with easy affordability owing to the presence of government subsidies on cylinders. Moreover, North America and Europe are anticipated to witness sluggish growth owing to the increasing consumer awareness towards reducing reliance on fossil fuels to gain the overall carbon credits. In addition, within the U.S., the extra production of LPG will be routed to the region of Latin America in the coming years owing to the rising demand from the commercial and domestic sectors.
LPG Petroleum Gas Market: Segmentation
The report on global LPG petroleum gas market covers segments such as source and application. On the basis of source, the global LPG petroleum gas market is categorized into the refinery, associated gas and non-associated gas. On the basis of application, the global LPG petroleum gas market is categorized into residential, chemical, industrial, transportation and commercial.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the lpg petroleum gas.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.