PropaneMarket was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by2027, at CAGR of 4.5 % during forecast period of 2019 to 2027.
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The Propane Market has witnessedconsiderable growth in recent years because it’s use in engine fuel market,lower propane prices and domestic propane supply.
The report study has analyzedrevenue impact of covid-19 pandemic on the sales revenue of market leaders,market followers and disrupters in the report and same is reflected in ouranalysis.
Propane Market Drivers,Segmentation Analysis and Restrains
Propane is a part of worldwiderising commercial end-use industry, which will rise a high traction globallybecause of growing hospitality industry in Middle East Africa and Asia Pacificregion. Qatar will witness profligate growth in commercial end-use owing toFIFA World Cup 2022, which will generate a requirement of propane. Increasinguse of propane in automotive, aerospace, agriculture, research and developmentIndustries, for e.g., British Thermal Unit (BTU) fuels in automotive, suchfactors are behind the growth of global propane market. Most manufacturers arefocusing on maintainable good manufacturing practices and attempting toincrease efficiency, conserve natural resources, and optimally use of availableresources. These initiatives are further expected to drive the propane marketover forecast period.
Rising population and rapidindustrialization in emerging countries has also driven global propane keyplayers to increase their manufacturing spending to complete mandatoryrequirements. Manufacturers are thus actively involved in research anddevelopment, technological improvement and strategic collaborations todevelopment their standing in global market.
In terms of End-Use Outlook, thepropane market is segmented into Industrial, Commercial, Residential,Transportation, Agriculture, Chemicals and Refineries. Industrial segment isexpected to grow at XX% CAGR during the forecast period. Improvement of metalmanufacturing sector, particularly in Middle Eastern and Asian economies, arekey driver for the industrial use of propane during forecast period.
Prpane Market Regional Analysis
On the basis of region Propanemarket is divided into five region such as Asia Pacific, North America, Europe,Latin America, and Middle East Africa. Among all the regions, the Asia Pacifichad the XX% CAGR in 2018 and is projected to lead the market during the forecastperiod. China has become a topmost propane importing country in the globe,because of rising domestic fuel consumption in the world. Hence, China propanemarket is estimated to increase at a rapid pace during the forecast period.
Also North America held asubstantial share of the global propane market in 2018. The U.S. held aprominent share of the propane market in North America, because of the hugeproduction and supply of propane across the country. Increasing requirement ofpropane in the industrial sector is major factor that drives the propane marketin the U.S. Shareholders in the propane market in United State are lookingforward to build numerous propane stations to provide rising requirements ofconsumers.
Europe follows Asia Pacific and NorthAmerica propane market in the global. Europe witnesses the strong occurrence ofwell-established refinery and petrochemical companies in the region. Increasingmandate for propane in the petrochemical industry in Europe is expected todrive the propane market during the forecast period.
In Latin America and the MiddleEast and Africa the propane markets are likely to expand at a slow pace duringthe forecast period. Fast development of the domestic fuel distribution andsupply chain in these two regions is projected to boost the demand for propanein the next few years. GCC is expected to lead the propane market in the Africaand Middle East between 2019 and 2027. The rising consumption of LPG dominatedby increasing awareness and improving economic conditions in the sub-region ofAfrica is likely to propel the mandate for propane in Africa during theforecast period.
International Classification ofFunctioning (ICF) is projecting oil prices to remain at low levels through2019, followed by a slow rebound to about US$ XX per barrel by 2020 for WTIcrude oil. In 2018, U.S. XX billion gallons odorized propane was sold, alsoprojected to sale average of XX billion gallons of odorized propane volumes peryear. As a result, the Global Propane Market has undergone a dramaticrevolution from a primarily domestically focused market.
The objective of the report is topresent comprehensive analysis of Propane Market including all the stakeholdersof the industry. The past and current status of the industry with forecastedmarket size and trends are presented in the report with the analysis ofcomplicated data in simple language. The report covers all the aspects ofindustry with dedicated study of key players that includes market leaders,followers and new entrants by region. PORTER, SVOR, PESTEL analysis with thepotential impact of micro-economic factors by region on the market have beenpresented in the report. External as well as internal factors that are supposedto affect the business positively or negatively have been analyzed, which willgive clear futuristic view of the industry to the decision makers. The reportalso helps in understanding Propane Market dynamics, structure by analyzing themarket segments, and project the Propane Market size. Clear representation ofcompetitive analysis of key players by Propane Type, price, financial position,product portfolio, growth strategies, and regional presence in the PropaneMarket make the report investor’s guide.
Scope of the Propane Market:Inquire before buying
Propane Market, by End-Use Outlook
• Industrial
• Commercial
• Residential
• Transportation
• Agriculture
• Chemicals and Refineries
Propane Market, by Region
• Asia Pacific
• North America
• Europe
• Latin America
• Middle East Africa
Propane Market, Major Players
• AmeriGas Propane, Inc.
• DCC Plc
• China Petroleum & ChemicalCorporation (SINOPEC)
• Ferrellgas
• Saudi Arabian Oil Co.
• Gazprom
• Air Liquide
• GAIL (India) Limited
• Indian Oil Corporation Ltd
• Suburban
• Propane, L.P.
• Lykins Energy Solutions
• Marsh L.P. Gas Co. Inc.
• Sparlings, and ThompsonGas
• SINOPEC
• Exxon Mobil Corporation
• Reliance Industries Limited
• Total SA
• Royal Dutch Shell
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