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LPG Market size was valued at US $ 157.08 Bn. in 2023 and the total revenue is expected to grow at 6.5 % through 2024 to 2030, the LPG market is reaching nearly US $ 244.11 Bn. in 2030.
LPG Market Overview
Over the forecast period, Maximize Market Research expects the LPG Market growth from USD in 2022 to USD in 2029 at a CAGR of percent. The report analyzed by Maximize Market Research, on the LPG market, covers an extensive regional analysis and competitive landscape.
LPG Market Report Scope and Research Methodology
The report is a thorough analysis of the LPG market provided with key findings including Pricing, investments, expansion plans, and physical presence in the LPG market. The bottom-up approach was used to underst and the LPG market size estimation and growth rates in the report. The report provides information on the drivers, restraints, opportunities, and challenges of the LPG market. The financial standing, portfolio, technology adoption, merger and acquisition, joint ventures and strategic alliances are included in the competitive environment for the LPG market.
The report includes primary and secondary collection techniques with qualitative and quantita ive approaches for the analysis of the LPG market. The primary collection method includes Surveys, questionnaires and telephonic interviews with market leaders and business owners. The secondary method includes financial reports, annual reports, press releases, white papers, etc. SWOT analysis is used to identify the threats and weaknesses of the market while PORTER is used to understand the competitive intensity of the industry in the LPG Market.
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LPG Market Regional Insights
The Regional Analysis in the report helps to understand the LPG market in various countries. The report includes a thorough analysis of all the factors, market size, growth rate, and import and export in regions. The LPG market is broadly segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
LPG Market Segmentation
by Source
Refiners
Associated gas
Non-Associated gas
by Application
Automobile fuel
Residential
Commercial
Industrial
Others
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LPG Market Key Players
1.Saudi Aramco
2.Sinopec
3.ADNOC
4.CNPC
5.Exxon Mobil
6.Reliance Industries
7.KNPC
8.Phillips66
9.Bharat Petroleum Corporation Ltd.
10.Pemex
11.Total Corp.
12.Qatar Petroleum
Key questions answered in the LPG Market are:
- What is LPG?
- What was the LPG market size in 2023?
- What is the growth rate of the LPG Market?
- Which are the factors expected to drive the LPG market growth?
- What are the different segments of the LPG Market?
- What growth strategies are the players considering to increase their presence in LPG?
- What are the upcoming industry applications and trends for the LPG Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the LPG Market?
- Who are the leading companies and what are their portfolios in LPG Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and en LPGeering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, cruci
al market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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LPG is a nonrenewable energy source that is widely used in home and industrial applications as a portable, clean, and non-toxic energy source. It is composed of flammable hydrocarbon gases and volatile hydrocarbons such as propane, butane, and isobutane, and it is stored in steel vessels, large gas cylinders, and tanks. LPG burns quickly in air and generates more heat energy than natural gas.
LPG Market Scope:
The most recent developments, regulatory frameworks, trade analysis, business models, supply chain utilization, market dominance, the impact of domestic and localized market participants, assessments of potential revenue spots, regulatory shifts, tactical industry growth analysis, sales volume, categorical market growth, implementation niches and dominance, product releases, global coverage, and product latitude are all covered in this market. Contact Stellar Market Research and request an Analyst Brief to learn more about the LPG market. In order to achieve market growth, our personnel will assist you in making informed market decisions. We can provide you with an in-depth analysis of the competitive landscape, opportunities, and potential threats. We can also provide you with detailed forecasts of market performance, pricing and sales, along with market segmentation and key market drivers. We have the expertise and experience to provide you with comprehensive market research and analysis. Contact us today to discuss your research needs.
LPG Market Overview:
The research is based on extensive LPG market research, qualitative and quantitative market assessments by industry experts, and feedback from field personnel and supply chain actors. The research looks into parent market trends, macroeconomic data, regulatory variables, and the attractiveness of segment markets. In addition, the study demonstrates the qualitative impact of key market factors on market segments and geographies. The research also provides a detailed assessment of the competitive landscape, including the market share of key players, current and future strategies, and market positioning. Finally, the research provides an in-depth analysis of the market dynamics, including drivers, restraints, opportunities, and challenges.
LPG Market size was valued at US$ 129.7 Bn. in 2020. Global LPG Market is estimated to grow at a CAGR of 6.7% over the forecast period.
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Some of the key players in the LPG market are as follows:
The
market's leading players are embracing various growth strategies, such
as partnerships and strategic alliances, as well as new product
launches, to increase their presence in emerging markets and,
ultimately, to broaden their customer base.
Saudi Aramco (Saudi Arabia)
Sinopec (China)
ADNOC (United Arab Emirates)
CNPC (China)
Exxon Mobil (US)
Reliance Industries (India)
KNPC (Kuwait)
Phillips66 (US)
Bharat Petroleum Corporation Ltd. (India)
Pemex (Mexico)
Qatar Petroleum (Qatar)
Equinor (Norway)
Chevron (US)
ConocoPhillips Company (US)
SHV Energy (NL)
Valero Energy (US)
UGI Corporation (US)
Royal Dutch Shell PLC (UK)
LPG Market Segmentation:
The LPG Market is divided into three segments: refiners, associated gas, and non-associated gas. In 2020, the Refiners segment held 54.1% of the market. Refineries are one of the most important sources of various gases production. An increase in the number of refinery factories and plants, as well as growing refining capacity, is expected to boost product supply during the forecast period, particularly in Saudi Arabia, Brazil, India, and China.
Regional Analysis:
Individual market influencing factors and changes in market regulations that affect current and future marketing tactics are also discussed in the country-focused discussion of the LPG market study. Some of the major factors used to forecast the market scenario for specific countries are consumer volumes, processing facilities and inventories, shipping analysis, price prediction modelling, raw material prices, and upstream and downstream value chain analysis. The availability and affordability of global brands, as well as the challenges they face due to large or limited competition from local and domestic producers, the effect of local tariffs, and shipping routes, are all taken into account while providing forecast analysis of national data. Changes in regulations and policy play a major role in determining the future of the market, and can have a significant impact on pricing, marketing, and consumer behaviour. Additionally, changes in international trade agreements, as well as the latest technology trends, can have far-reaching implications for the global market.
COVID-19 Impact Analysis on LPG Market:
The COVID-19 outbreak significantly and for an extended period of time reduced production efficiency, while travel bans and factory closures kept people away from their businesses, causing the LPG market to slow in 2020. The new study examines the impact of the pandemic on the LPG market, as well as observations, research, estimates, and projections. The Stellar LPG Market Research report investigates customer behaviour following the virus, as well as its impact on the LPG market's outlook, classification, trends, and economic constraints. It also provides a comprehensive overview of the current state of the market and the potential future. The report provides insights into the key dynamics of the market, such as vendors, technologies, and strategies, that have been implemented to respond to the pandemic. Additionally, the study gives an in-depth analysis of the competitive landscape in the market, as well as the market's regional segmentation.
Key Questions Answered in the LPG Market Report are:
- What are the drivers motivating overall LPG market advancement in the upcoming period?
- What revenue potential is estimated from the LPG market’s transactions in the years ahead?
- What CAGR potential is forecasted for the LPG market in the approaching period?
- Who are the significant contenders functioning in the LPG market?
- Which region is leading the global LPG market share at the end of the forecast period?
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Global LPG Market size was valued at US $ 130.1 Bn. in 2020 and the total revenue is expected to grow at 6.5 % through 2021 to 2027, the LPG market is reaching nearly US $ 202.17 Bn. in 2027.
Global LPG Market Overview:
The market research report Global LPG explores and evaluates the market's position during the forecasted period. Focusing on fundamental and secondary drivers, market dominance, significant segments, and geographic analysis, it is a thorough body of research. Along with notable individuals, significant alliances, mergers, and acquisitions, the research also looks at contemporary innovation and corporate strategy.
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Market Scope:
We used primary and secondary research techniques to examine the Global LPG Market from every angle. Our comprehension of current market dynamics, such as supply-demand imbalances, pricing trends, product preferences, and consumer behaviour, has improved as a result. After that, the data is collated and evaluated using a variety of market projections and data validation techniques. Additionally, our internal data forecasting engine projects market growth through 2029.
Segmentation:
The cumulative growth in LPG use from April 20 to February 21 in 2021 was 5.4%, and the overall growth was 7.7%. Out of the five regions, North America had the biggest percentage of LPG sales in February 2021 (31.8%). The rising demand for LPG from several businesses is driving growth in the world's liquefied petroleum gas industry. In addition, a key factor in the market's growth from 2021 to 2030 will be the enforcement of rigorous government environmental regulations.
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
Market leaders are identified using primary and secondary research, and market revenue is estimated using primary and secondary research. As part of the core research, extensive interviews with significant thought leaders and industry experts, including CEOs, marketing experts, and seasoned front-line workers, were undertaken. In-depth interviews with well-known thought leaders and industry experts, such as CEOs, seasoned front-line employees, and marketing specialists, made up primary research, while an examination of the annual and financial reports of the major manufacturers made up secondary research. In order to compare secondary data to historical data, percentage splits, market shares, growth rates, and global market breakdowns are computed using secondary data. The following players are those who are featured in this study:
Regional Analysis:
Using both qualitative and numerical data, the study examines the local market in depth. It provides an overview and forecast of the global Global LPG market segment by segment. Additionally, it provides market size and forecast projections for five important regions from 2022 to 2029 , including North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The Global LPG market is further segmented into regions and sectors for each area. Numerous countries are examined and expected in the research, along with current patterns and future developments in the industry.
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COVID-19 Impact Analysis on Global LPG Market:
The Global Global LPG Market Development Strategy post-COVID-19, which encompasses and analyses the potential of the global Global LPG market and provides statistical data on market dynamics, growth factors, significant challenges, PORTER analysis, and market entry strategy analysis, opportunities, and forecasts, was thoroughly researched and analysed. The main goal of the study is to provide industrial enterprises with a strategic analysis of the impact of COVID-19. This analysis simultaneously examined the markets of significant nations and emphasised their market potential.
Key Questions Answered in the Global LPG Market Report are:
- Which regions, product categories, and end users represent the global Global LPG sector's most potential high-growth opportunities?
- Which market sectors will grow the quickest, and why?
- What sectors will grow the quickest, and why?
- What are the main factors affecting the dynamics of the ## market? What are the main factors influencing and impeding the Global LPG market?
- What are the business risks and hazards in the ## market?
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