Global Propane Market
Global Propane Market Report Description:
Global propane market report gives comprehensive outlook on propane across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East an`d Africa. The report on global propane market gives historical, current, and future market sizes (US$ Mn) on the basis of end user and region. This report studies global propane market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global propane market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global propane market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global propane market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global Propane products.
Global Propane Market:
The global propane market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Some of the key factors influencing the market growth include increasing demand for propane from automobile industry, rapid industrialization together with increasing population and high consumption of propane in industrial & commercial sectors. However, presence of substitute products and fluctuations in petroleum & crude oil prices are key factors inhibiting the market growth.
Increasing Demand from Automobile Industries is Fueling the Market
In the last ten years, propane markets have been transformed by the combined effects of volatile energy prices, swings in economic outlook, advancements in propane and competitive technologies, improvements in energy efficiency, and changes in propane supply. While many of these factors have resulted in increased opportunities for the industry. Today, most propane vehicles are conversions from gasoline vehicles. Dedicated propane vehicles are designed to run only on propane; bi-fuel propane vehicles have two separate fueling systems that enable the vehicle to use either propane or gasoline. Propane vehicle power, acceleration, and cruising speed are similar to those of gasoline-powered vehicles. Hence, increasing demand for propane from automobile industries is fueling the market.
Presence of Substitutes are hampering the Market
Natural gas, LNG and more are numerous alternatives in which customers also shifting their way’s to fulfill energy needs. LPG itself is a cheap substitute of propane which is limiting its market globally. Hence, presence of cheap alternatives are hampering the market growth.
Europe Accounts for Larger Market Revenue Share in Global Propane Market
Europe accounted for larger revenue share in global propane market with considerable CAGR due to population growth and bettering living standards. Also, U.K is the main contributor for the market growth in this region as LPG supplied to restaurants or commercial food establishments are 100% in the country.
Key player’s profiles in the global propane market include:
- BASF (Germany)
- British Petroleum (U.K)
- Evonik (Germany)
- ExxonMobil (U.S)
- Ferrellgas Partners L.P. (U.S)
- Lykins Energy Solutions (U.S)
- PDVSA (Venezuela)
- PetroChina Company Limited (China)
- Reliance Industries Ltd. (India)
- Shell (Netherlands)
- Sinopec (China)
- Valero Energy Corp. (U.S)
Global propane market is surging owing to frequent acquisitions and launchings by the market players.
Key Findings of the Report:
- Global propane market expanding at significant CAGR over 2019 to 2025 owing to increasing demand from automobile industry
- Based on end user, agriculture segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global Propane market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Chemicals and Refineries
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA