LPG Market Size, Leading Players, Analysis, Sales Revenue and Forecast 2027
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.
LPG Market Overview:
Stellar Industry Research's LPG Industry Report offers readers a detailed evaluation of the worldwide market landscape. This LPG Market study examines the situation from 2021 to 2027, using 2020 as the base year and historical data from 2016 to 2019. This study aids clients in making key business choices by delivering a variety of research-based information.
This market study on the LPG market is based on an in-depth examination of the industry, supplemented by secondary and primary sources. To estimate market volume, LPG's country-by-country model mappings, which include local and international financial data as well as relevant patent and regulatory databases, are employed. The competitive climate of the LPG sector is supported by an assessment of the various elements that affect the market on a microscopic and comprehensive level. By examining historical data, recent trends, and major business statements, analysts in the LPG industry generate forecasts and estimations, as well as compute market prognosis.
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This study includes business screening for the client's specialty area, as well as up-to-date relevant data on strategic priorities such as consolidations, procurements, collaborations, developments, and product releases for top companies on a local scale for a variety of industries or markets depending on the client's billing cycle. Our data is continually updated and amended by a team of research specialists to reflect the most recent trends and facts. We have extensive research and consulting experience in a wide range of business disciplines, allowing us to meet the needs of both people and corporations. Our educated staff employs unique data sources as well as a variety of diverse tactics. The following companies are prominent players in the LPG industry:
Europe (including Germany, France, the United Kingdom, Russia, and Italy), Asia-Pacific (including China, Japan, Korea, India, and Southeast Asia), Latin America (including Brazil, Argentina, and Colombia), the Middle East, and Africa have all been researched (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa). The research looks at regional competitive settings. This information may be used by market players to better their approaches and provide new chances to accomplish extraordinary results.
LPG Market Segmentation:
By Application, the LPG Market is segmented into Automobile fuel, Residential, Commercial, Industrial, and Others. The Residential segment dominated the market share with 39.1% in 2020. The segment's growth has been fueled by promising government subsidies and initiatives to promote the product as a viable alternative to traditional fuels like wood and coal. Due to a little impact on ozone depletion, liquefied petroleum gas is also replacing chlorofluorocarbon and hydrofluorocarbon as a refrigerant. This has resulted in increased application potential in the residential segment, particularly in the areas of ventilation and heating, in addition to cooking.
LPG Market Key Players:
Air Liquide (France)
Messer Group (Germany)
Nuvera Fuel Cells (US)
Ballard Power Systems (Canada)
Plug Power (US)
Air Products and Chemicals (US)
Teledyne Energy Systems (US)
Showa Denko (Japan)
Nippon Sanso (Japan)
Ally Hi-Tech (China)
ITM Power (UK)
NEL Hydrogen (Norway)
Fuel Cell Energy (US)
Taiyo Nippon (Japan)
McPhy Energy (France)
Starfire Energy (US)
Plug Power (US)
COVID-19 Impact Analysis on LPG Market:
The Global LPG Market Research Report provides a snapshot of the industry based on important metrics such as sales volume, revenue, and sales forecasts, as well as main drivers. The market is predicted to expand significantly throughout the forecasted period (2021-2027). This report also includes the most current market repercussions of COVID-19. The outbreak's global expansion has had a wide-ranging impact on people's lives. As a result, industries have been compelled to embrace new methods, attitudes, and techniques. The case study attempts to depict the market's current and future expectations.
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Key Questions Answered in the LPG Market Report are:
- How has the competitive landscape of the LPG market recently changed?
- What are the market size and share of LPG?
- Where can I get example market studies and business profiles?
- Who are the prospective customers in the LPG market?
- Who are the main rivals in the LPG industry?
- Where can I obtain business profiles for the top ten LPG market participants?
- Which region now and in the future has the greatest commercial potential for LPG?
- Who are the service providers in the LPG industry?
- What are the primary growth strategies of LPG industry competitors?
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