Global Liquid Petroleum Gas Market: Overview
The rising consumption of autogas across the world is reflecting significantly on the usage of liquid petroleum gas (LPG) across the world. As per Transparency Market Research (TMR), the global market for LPG presented an opportunity worth US$233.8 bn in 2013. Expanding at a CAGR of 3.40% during the period from 2014 to 2023, it is likely to increase to US$299.05 bn by the end of the forecast period.
This research study attempts to provide a better understanding of the present as well as the future status of the global market for LPG to players and other stakeholders in order to help them in making crucial strategies for the further development of their businesses.
Get PDF Brochure for more Professional and Technical industry insights : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=491
Global Liquid Petroleum Gas Market: Trends and Opportunities
The increasing usage of LPG as primary cooking fuel in a number of economies in Asia Pacific, Latin America, and Africa, on account of the cost benefits it offers, is the key driving factor behind the growth of the global LPG market across the world. Researchers expect the demand for LPG to remain escalating substantially over the next few years. However, the volatility in crude oil prices may limit this otherwise increasing demand to some extent in the near future.
LPG extracted from a non-associated source has been witnessing a robust demand across the world. Analysts project the trend to remain so over the forthcoming years. Among end users, the residential/commercial sector have led the demand for LPG in 2013 with a share of more than 60% in the overall market and is anticipated to retain its dominance over the forecast period.
Global Liquid Petroleum Gas Market: Geographical Analysis
Based on the geography, the global market for LPG is classified into Europe, Asia Pacific, the Middle East and Africa, North America, and South and Central America. In terms of production volume, the Middle East has emerged as the market leader; however, on the basis of consumption, Asia Pacific has grabbed the lion’s share in the overall market. The scenario is likely to remain more or less same over the next few years.
China and India account for a considerable portion of the overall LPG consumption in Asia Pacific and are expected to experience an increase in the demand for LPG in the near future. Economies in Latin America and Africa are also expected to exhibit a similar scenario in the years to come due to the escalating demand from the domestic and the commercial sectors. Besides, North America is likely to witness a significant rise in the production of LPG over the forecast period.
Companies mentioned in the research report
The global market for LPG demonstrates a fragmented and competitive landscape. Some of the leading players in this market are SHV Energy N.V., Repsol S.A., Copagaz Distribuidora De Gas S.A., China Gas Holdings Ltd., Kleenheat Gas Pty Ltd., Origin Energy, UGI Corp., Royal Dutch Shell Plc, Exxon Mobil Corp., and British Petroleum Plc.
Key Segments of Global Liquefied Petroleum Gas Market
By Source
- Refinery
- Associated Gas
- Non-Associated Gas
By End User
- Residential/Commercial
- Petrochemical and Refinery
- Industrial
- Transportation
- Others
No comments:
Post a Comment