While
on one hand the cheap and easy availability of liquefied petroleum
gas (LPG) is driving more consumers in Asia Pacific and Latin America
to use LPG as a fuel, the volatile crude oil prices are restraining
the market’s growth. As a result of these factors, the global LPG
market is expected to post a 3.4% CAGR between 2014 and 2020.
Globally, the LPG market in 2013 stood at US$233.83 bn. TMR expects
the global LPG market to reach US$299.05 bn by 2020.
In-depth
research report on Liquefied Petroleum Gas (LPG) Market with
Full TOC at :
http://www.transparencymarketresearch.com/liquefied-petroleum-gas-market.html
Perhaps
the greatest impact on the LPG market globally will be the expansion
of the Panama Canal, which will create a multitude of trade
opportunities, giving the market an additional boost. Moreover, new
possibilities indicating additional shale gas production in Latin
America and Asia Pacific could revitalize business in the LPG market.
For
the purpose of this study, the global LPG market has been segmented
on the basis of end-use, source segment, and regions. Based on
source, the liquefied petroleum gas market has been segmented into
associated gas, refineries, and non-associated gas. The
non-associated gas category will be leading contributor to the
production of LPG through the report’s forecast period. With LPG
production capacities being added by companies operating in the
Middle East, LPG production volumes from this region will swell in
the coming years. This region already stands as the largest LPG
producer in the world.
The
U.S., on the other hand, is witnessing an unprecedented spike in LPG
production, paving the way for high-volume exports. LPG exports from
the U.S. will chiefly be channeled into Latin American markets where
the demand for the fuel source is mounting.Likewise, on the basis of
end use, the market is divided into residential and commercial,
industrial, refinery and petrochemical, transportation, and others.
The consumption of LPG was the highest (over 60%) in the residential
and commercial segment in 2013. The high demand for LPG from the
commercial and residential segment can be ascribed to its use as a
fuel for cooking, heating, as well as lighting. The report observes
that about 90% of all LPG in Africa is consumed by the residential
segment, making this region a lucrative one for companies in the LPG
market. Besides Africa, countries in Asia Pacific and Latin America
with a high population density in rural and semi-urban regions are
attractive for LPG suppliers.
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The
prospects of LPG as a transportation fuel are extremely positive as
LPG autogas is considered a more affordable alternative to gasoline
and diesel. The demand for autogas is soaring in European countries
such as Poland, Turkey, and Germany. The same can be said for
countries such as Japan and South Korea in Asia Pacific. TMR analysts
say that LPG consumption in the autogas segment will have a 5.2% CAGR
between 2014 and 2020.
The
report also segments the market, by region, into North America,
Europe, Middle East and Africa, Asia Pacific, and South and Central
America. With the Panama Canal being expanded, countries in Asia
Pacific can now import LPG at competitive rates from the U.S. In the
meanwhile, China is poised to experience a shale gas revolution by
2016 – an event that will further alter the dynamics of the LPG
market not just in APAC, but globally.Leading players in the global
LPG market are SHV Energy, Copagaz Distribuidora De Gas, Repsol,
Origin Energy, China Gas Holdings, Exxon Mobil, and Royal Dutch
Shell.
Key
Segments of the LPG Market
LPG
Market: Source Analysis
- Refinery
- Associated Gas
- Non-Associated Gas
LPG
Market: End User Analysis
- Residential/Commercial
- Petrochemical and Refinery
- Industrial
- Transportation
- Others
LPG
Market: Regional Analysis
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- South & Central America
Browse
Article Of Liquefied Petroleum Gas (LPG) Market
http://www.transparencymarketresearch.com/article/liquefied-petroleum-gas-market.htm
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