Clean and Safe Cooking Fuel's Demand to Support the Growth of Global Propane Market to Reach Valuation US$ 109 Bn from 2019 t...

Date : 26/03/2020 @ 14:30
Source : PR Newswire (US)

Clean and Safe Cooking Fuel's Demand to Support the Growth of Global Propane Market to Reach Valuation US$ 109 Bn from 2019 t...

  • Demand for effective cooking fuel to propel the growth of global propane market, says a recent report by Transparency Market Research
  • The global propane market shall reach to US$ 109 Bn by the end of 2027

ALBANY, New York, March 26, 2020 /PRNewswire/ -- As per a recent report by Transparency Market Research the global propane market is projected to witness a substantial growth during the tenure of 2019 to 2027. The report states that the market is anticipated to witness 5% CAGR during the estimated duration. Owing to the growth in demand for propane in various commercial and domestic applications, the global propane market is expected to witness a massive influx of new players making the dynamics of the market quite intensive. However, the global propane market is anticipated to be quite lucrative as the market shall rise from US$ 72 Bn in 2018 to ~US$ 109 Bn by the end of 2027, which is projected to attract new players in the global propane market. This shall make the landscape of the joint global propane market highly competitive, says the report by Transparency Market Research.

Transparency_Market_Research_Logo

Download PDF Brochure - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=221

Major Findings in Global Propane Market Study

  • The residential sector accounts for the highest share of the propane market, which tantamount to ~43% for propane-based applications.
  • Upmarket residential neighborhoods in the U.S. lack access to natural gas. Developers build propane tanks outside the entry gates to these communities to avoid the barreling of individual tanks inside the community. To simplify the process, players operating in the propane market bill homeowners according to their usage, who need not pay upfront during the time of delivery.
  • In terms of value, the global propane market is anticipated to expand at a CAGR of ~5% during the forecast period, to reach a value of US$ 109 Bn by 2027.

Explore the latest study on global propane market under the title: Propane Market (Application: Residential, Commercial, Chemicals & Refineries, Industrial, Transportation, and Agriculture) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/propane-market.html

Key Drivers Propelling the Growth of Global Propane Market

Growing Consumption of LPG to Boost the Growth

The global propane market is driven majorly by the growing application of LPG in both commercial and domestic sectors. The LPG cylinders are extensively used in restaurants, homes, and other industries for various purposes. They provide pollution-free, safe and secure combustion. This property of LPG makes them excellent choice for the various purposes like cooking, grilling, and heating in domestic sectors. Moreover, the in industries the commercial LPG is used for cutting metals and in several furnaces. These widespread applications of LPG in domestic and commercial sectors shall boost the growth of global propane market from 2019 to 2027.

Additionally, consumer security is the major factor that is anticipated to propel the growth of global propane market in 2019 to 2027. Since LPD cylinders provide optimum security against leakage that can turn out to be catastrophic if not detected. This is the major advantage that accelerates the use of LPG from 2019 to 2027. As a result of this growing application of LPG cylinders due to their security benefits, the market is projected to grow substantially from 2019 to 2027.

View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/221

Global Propane Market: Regional Analysis

In terms of revenue and volume, Asia Pacific accounted for the largest share of the global propane market in 2018. This dominance of the region is projected to continue in coming years, owing to a rise in the demand for cooking fuel in the form of LPG. China has become a top propane-importing country in the world, due to rising domestic fuel consumption in the country. The propane market in China is projected to expand at a rapid pace during the forecast period.

Competitive Landscape

The global propane market is highly competitive and largely fragmented. This nature of the market is the result of the presence of prominent players that are dominating the dynamics of the market. However, due to this scenario, the new players might find it difficult to enter the global propane market.

Therefore, these players are indulging in strategies such as mergers and collaborations to acquire adequate resources that can help them gain sustainability in the global propane market.

Analyze propane market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.

The global propane market is segmented in the basis of:

Global Propane Market, by Application

  • Residential
  • Commercial
  • Chemicals & Refineries
  • Industrial
  • Transportation
  • Agriculture

Global Propane Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Chemicals and Materials Industry,

Butanes Market - The growing demand for LPG from residential and commercial sectors where it is mainly used as a domestic fuel is the major factor driving the butanes market.

Liquefied Petroleum Gas (LPG) Market - Global LPG market to expand at a CAGR of 3.40% between 2014 and 2020, for the market to become worth US$299.05 bn by the end of 2020 increasing from US$ 233.83 bn in 2013.

Potassium Iodide Market - The pharmaceutical industry is supposed to acquire 27.9% share of potassium iodide market by the end of 2024, in terms of revenue. Prevention of thyroid-related issues by potassium is resulting in higher demand of potassium in the pharmaceutical industry.

Marine Lubricants Market - In 2015, the global marine lubricants market was worth US$2.32 billion. Expanding at a CAGR of 4.17% from 2016 to 2024, the market's opportunity is projected to touch US$3.33 bn by the end of 2024.

Polyethylene Terephthalate Market - The global polyethylene terephthalate (PET) market has been anticipated to earn around US$39.16 bn by 2024 from US$23.73 bn in 2015 at a 5.80% CAGR for the forecast timeframe 2016–2024. By application, beverages could remain as a dominant market for PET.

Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.

About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,|
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com 
Website: http://www.transparencymarketresearch.com

 

Logo - https://mma.prnewswire.com/media/1085206/Transparency_Market_Research_Logo.jpg

Copyright 2020 PR Newswire

$
ADVFN Advertorial
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20200329 09:53:25