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 Report Scope and Research Methodology
The Competitive landscape provides growth strategies adopted by the suppliers in the LPG industry. The news covered in this section provides valuable thoughts at various levels while keeping up-to-date with the business and captivating stakeholders in the economic conflict. The competitive scenario in the LPG market report represents news of the companies categorized into Merger & Acquisition, Agreement, Collaboration, & Partnership, Product Launch & Enhancement, Investment & Funding, and Award, Recognition, & Expansion. All the news collected for the LPG report help suppliers understand the loopholes in the marketplace and competitors’ strength and weakness thereby, providing insights to upgrade product and service. It provides the idea of its revenue generation into the overall LPG market compared to other vendors in the space. It provides insights into how players are performing in terms of revenue generation and customer base compared to others.
LPG Market Report Overview
Stellar Market Research provides a comprehensive analysis of LPG Market to provide a current snapshot of the market to understand its feature in an optimized way. The LPG market report presents market characteristics in terms of accumulation, segmentation, dominance, and combination traits. The report provides a LPG market overview by standard topics which are highlighted with customized data according to the necessity. This overview helps in decisions on how to approach the market and understand the context of the LPG industry.
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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LPG Market Key Players:
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 Regional Insights
North America: U.S., Canada
Europe: U.K., Germany, Rest of Europe
Asia-Pacific: China, Japan, Rest of Asia Pacific
Latin America: Brazil, Mexico, Rest of Latin America
Middle East and Africa: GCC, Rest of MEA
Market size and forecast for these regional and country-level markets are presented in this LPG market report for the period 2020-2029.
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 share. Refineries are one of the most significant sources of various gases. An increase in the number of refinery factories and plants, as well as growing refining capacity, is expected to boost product supply over the forecast period, particularly in Saudi Arabia, Brazil, India, and China.
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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