LPG Market Revenue Growth Regional Share Analysis and Forecast 2029

LPG Market size was valued at US $ 138.55 Bn. in 2021 and the total revenue is expected to grow at 6.5 % through 2022 to 2029, the LPG market is reaching nearly US $ 229.30 Bn. in 2029.

LPG Market Overview

The LPG Market report, published by Maximize Market Research, presents a comprehensive analysis of the market in 2022, considering factors such as type, distribution channel, end-user, and industry vertical. The report also includes a forecast up to 2029. It provides in-depth data on mergers and acquisitions, recent developments, and business strategies implemented by key companies, serving as a valuable resource for new market entrants.

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LPG Market Scope

MMR's comprehensive research presents an in-depth assessment of the LPG market, encompassing factors such as market size, market share, revenue, business strategies and recent developments of major players. The report offers valuable strategies for both new market entrants and established companies. Primary and secondary research methods were employed to collect LPG market data, followed by analysis using SWOT analysis, PESTLE analysis and PORTER's five force model. These provide insights into drivers, restraints, opportunities and regional trends across key geographic regions including North America, South America, Asia Pacific, the Middle East and Africa, and Europe.

Segmentation

The market is divided into three sub-segments based on the source: refineries, associated gas, and non-associated gas. Non-Associated Gas dominated the market in 2021, accounting for 54% of all sales. For instance, the bulk of gas produced in North America comes from natural gas processing plants, while the majority of gas produced in Asia-Pacific comes from refineries. On a global scale, refineries are one of the most significant producers of various gases. Rising refining capacity, especially in Saudi Arabia, Brazil, India, and China, is anticipated to expand the product's supply in the upcoming years.

The market is further divided into four categories: industrial, residential/commercial, automotive fuel, and others. The Residential/Commercial sector dominated the market in 2021, accounting for the biggest market share (51.20%). Government programmes and subsidies that promise to promote the product as a viable substitute for conventional fuels like coal and wood have fueled the segment's rise. Liquefied petroleum gas is also replacing chlorofluorocarbon and hydrofluorocarbon as a refrigerant due to a minimal influence on ozone depletion. As a result, there are now more prospects for applications in the residential and commercial sectors, particularly in the fields of heating and ventilation in addition to cooking. The sector is anticipated to expand during the course of the forecast, reaching a net global industrial value of more than US $ 0.00681 billion by 2029.

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Key Players

• Saudi Aramco
• Sinopec
• ADNOC
• CNPC
• Exxon Mobil
• Reliance Industries
• KNPC
• Phillips66
• Bharat Petroleum Corporation Ltd.
• Pemex
• Total Corp.
• Qatar Petroleum
• Equinor
• BP Corp.
• Gazprom Corp.
• Chevron
• ConocoPhillips Company
• SHV Energy (NL)
• Valero Energy
• UGI Corporation
• Royal Dutch Shell PLC
• Others

Regional Analysis

The MMR report offers a detailed analysis of the LPG market across significant geographic regions, namely North America, South America, Asia Pacific, the Middle East and Africa and Europe. It delves into factors such as product penetration, manufacturing locations and the cost of raw materials specific to each region. Additionally, the report incorporates value chain analysis as a crucial indicator for forecasting the LPG market in each country.

Key Questions answered in the LPG Market Report are:

• What is LPG Market?
• What is the forecast period of the LPG Market?
• What is the competitive scenario of the LPG market?
• Which region held the largest market share in the LPG Market?
• What are the opportunities for the LPG Market?
• What are the restraining factors in the LPG market?
• Who are the key players of the LPG market?

Key offerings:

• Market Share, Size, and Forecast by Revenue|2022-2029
• Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
• Market Segmentation: A detailed analysis by LPG
• Landscape- Leading key players and other prominent key players.

About Maximize Market Research:

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