LPG Market

1. LPG Market Statistical Data, And Forecast Assessment Till 2030 LPG Market size is estimated at USD 132.1 billion in 2020 and is expected to reach USD 245.6 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. LPG, also known as propane, is a combustible hydrocarbon gas commonly used as non-toxic sulfur-free fuel. It is composed of propane (C3H8) and butane (C4H10) and small amounts of other hydrocarbons. The easy storage of LPG makes it a highly portable fuel and versatile source of energy for industries located in areas where pipe gas supply is not available. It is preferred over several other energy fuels due to its low sulfur and carbon emissions and environmental friendliness. LPG is commonly used in the process industry to fuel the boilers used to generate steam and boiling water. It is also used as a domestic cooking gas because it is a clean fuel with a high flash point and less greenhouse gas emissions than other fuels. LPG is made by refining natural gas or crude oil obtained from fossil fuel extraction. Request Free Sample Copy of this Report@ https://wemarketresearch.com/reports/request- free-sample-pdf/lpg-market/841 consumption of LPG has increased significantly over the past two decades, reaching a new level at 27.1 million tons in 2019. Due to environmental benefits and stringent government policies to reduce carbon emissions, LPG has rapidly become the fuel of choice around the world. Governments of various countries around the world also offer subsidies, including tax incentives, to encourage the use of his LPG in vehicles. Now, with increasing awareness of the benefits of LPG and various government initiatives, the use of LPG for cooking is increasing in rural areas around the world. Some Of The Key Players Operating In The Global LPG Market Include: •Exxon Mobil Corporation • Kleenheat • bp p.l.c. • Bharat Petroleum Corporation Limited • Flaga Gmbh • Repsol • Chevron Corporation • Petroliam Nasional Berhad (PETRONAS) • Phillips 66 Company • JGC HOLDINGS CORPORATION • China Gas Holdings Ltd. • Shell group of companies

2. • Reliance Industries Limited • Saudi Aramco • Qatargas Operating Company Limited • Total Se • Others Segments By Source • Refineries • Associated Gas • Non-Associated Gas By End User • Residential • Commercial • Agriculture • Industrial • Transportation • Others Source Insights Based on source, the market is segmented into refineries, associated gas, and non-associated gas. In 2021, the Non-Associated Gas segment was dominant and held the largest market share of 54%. For example, natural gas processing units’ account for the majority of gas production in North America, while Asia Pacific Refineries account for the majority of gas production in the region. Refineries are one of the most important sources for the production of various gases on a global scale. Product supply is expected to increase in the coming years due to increased refining capacity, especially in Saudi Arabia, Brazil, India and China. Secure a copy of the premium research report@ https://wemarketresearch.com/purchase/lpg-market/841?license=single

3. End User Insights On the basis of end user, the LPG market has been further categorized into domestic, commercial, agriculture, industrial, transportation, others. In 2021, the residential/commercial segment was dominant and held the largest market share of 45.20%. LPG will compete with traditional fuels such as wood, charcoal, and coal in applications such as food preparation and hot water heating, which are expected to drive the future market for LPG during the forecast period. LPG is a versatile fuel, used in homes for applications such as heating, hot water, cooking, stoves, fireplaces, and other appliances. The transportation industry also has a significant influence on the LPG industry. LPG is a clean fuel and one of the leading alternatives to gasoline and diesel in the transportation sector. Black smoke and greenhouse gas emissions from cars are greatly improved through the use of LPG. However, the domestic sector is expected to continue to be the largest consumer during the forecast period. About We Market Research: WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep-rooted market studies and insightful analysis of different markets. Contact Us: We Market Research Phone: +1(650)-666-4592 Email: sales@wemarketresearch.com Web: https://wemarketresearch.com/