Global Liquefied Petroleum Gas Market was valued US$ 256.50 Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of 3.20 % during a forecast period.
The liquefied petroleum gas is a mixture of the numerous hydrocarbon gases, which is used in an array of applications ranging from cooking to transportation.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The global liquefied petroleum gas market is experiencing exponential growth because of the rise in adoption of as a liquefied petroleum gas cooking gas across the globe. The favourable government initiatives by the developing economies of Asia Pacific like China, India, with the focus to use of substitute over conventional cooking fuels like coal, kerosene, and wood is expected to drive the growth in the global liquefied petroleum gas market. Additionally, low greenhouse gas emission features of LPG in increasing the adoption of LPG as auto fuel, which is contributing significant growth in the global liquefied petroleum gas market.
On the other hand, the high cost of equipment installation of LPG units is expected to limit the growth of the global liquefied petroleum gas market. Furthermore, the fluctuation in the price of the crude oil and natural gas is one of the key challenge for the global liquefied petroleum gas market during the forecast period (2019-2026).
The residential & commercial sectors are expected to contribute the US $ XX Mn share in the global liquefied petroleum gas market. Liquefied petroleum gas has introduced as one of the fuel sources in residential & commercial sectors for cooking and heating applications. It plays an important role as a substitute for conventional coal and wood fuels. It offers many benefits like non-toxic, simply accessibility, portable, and cost-efficient over coal and wood fuel sources. Growth in the population across the globe is expected to increase the demand for liquefied petroleum gas.
Region-wise, the Asia Pacific region is projected to be a leading region in the global liquefied petroleum gas market. Rapid urbanization, abundant resource availability, and high demand for energy sources coupled with simple affordability and the presence of government subsidies on cylinders across the region are some of the prominent drivers behind the growth of the liquefied petroleum gas market. An increase in demand for liquefied petroleum gas as a major cooking fuel in the many suburban and urban families is also expected to boost the liquefied petroleum gas market growth in the region during the forecast period.
Some of the prominent key players in the global liquefied petroleum gas market are focusing on expanding their auto fuel capabilities primarily in the Asia Pacific and Europe because of the rapidly growing fleet count across the region. They are also concentrating on the long-term collaborations with distributors and auto-OEMS, which helps to sustain their supply petroleum gas network.
The objective of the report is to present a comprehensive analysis of Global Liquefied Petroleum Gas Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Liquefied Petroleum Gas Market dynamics, structure by analysing the market segments and project the Global Liquefied Petroleum Gas Market size. Clear representation of competitive analysis of key players by Thyroid Gland Disorders Treatment Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Liquefied Petroleum Gas Market make the report investor’s guide.
The Scope of the Report for Global Liquefied Petroleum Gas Market
Global Liquefied Petroleum Gas Market, By Source
• Associated Gas
• Non – Associated Gas
Global Liquefied Petroleum Gas Market, By Application
Global Liquefied Petroleum Gas Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Liquefied Petroleum Gas Market
• Chevron Corporation
• Indian Oil Corporation Ltd.
• Royal Dutch Shell
• Hindustan Petroleum Corporation Ltd. (HPCL)
• Valero Marketing and Supply Company
• Oil & Natural Gas Corporation Ltd. (ONGC)
• Reliance Industries Ltd. (RIL)
• Total SA
• Petroleos de Venezuela
• Oman Oil Company
• Petredec Ltd.
• ExxonMobil Corporation
• Bharat Petroleum Corporation Ltd. (BPCL)
• China Gas Holdings Ltd.
• Phillips 66
Global Liquefied Petroleum Gas Market : https://www.maximizemarketresearch.com/market-report/global-liquefied-petroleum-gas-market/44363/
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
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