DUBLIN--(BUSINESS WIRE)--The "LPG Petroleum Gas Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024" report has been added to ResearchAndMarkets.com's offering.
The report predicts the global LPG petroleum gas market to grow with a CAGR of 3.1% over the forecast period of 2018-2024.
Rising consumption of auto gas has resulted in the increased adoption of LPG that is driving the growth of the LPG petroleum gas market. Also, favourable government initiatives and subsidies to promote the petroleum product as the major alternative fuel to the conventional counterparts including coal and wood fuel are boosting the market growth.
Furthermore, advancements in technologies in improving the energy efficiency of the existing equipment along with initiatives taken by the government to educate the suburban and rural populations regarding the benefits of LPG are projected to provide several growth opportunities for the key players in the LPG petroleum gas market over the years to come.
However, improper use and lack of maintenance of LPG cylinders leads to accidents are the factors likely to restrain the growth of the LPG petroleum gas market.
Asia Pacific held the largest demand due to due to the high population base and expanding population abundant resource availability coupled with easy affordability owing to the presence of government subsidies on cylinders.
Moreover, North America and Europe are anticipated to witness sluggish growth owing to the increasing consumer awareness towards reducing reliance on fossil fuels to gain the overall carbon credits.
In addition, within the U.S., the extra production of LPG will be routed to the region of Latin America in the coming years owing to the rising demand from the commercial and domestic sectors.
Companies Profiled
- SHV Energy N.V.
- Repsol S.A.
- Copagaz Distribuidora De Gas Ltda
- China Gas Holdings Limited
- Kleenheat Gas Pty Limited
- Origin Energy
- UGI Corporation
- Royal Dutch Shell plc
- ExxonMobil Corporation
- British Petroleum plc
Key Topics Covered
1. Preface
2. Executive Summary
3. Global LPG Petroleum Gas Market Overview
4. LPG Petroleum Gas Market Macro Indicator Analysis
5. Global LPG Petroleum Gas Market by Source
6. Global LPG Petroleum Gas Market by Application
7. Global LPG Petroleum Gas Market by Region 2018-2024
8. Company Profiles and Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/cg2x6g/lpg_petroleum_gas?w=4
