Liquefied Petroleum Gas (LPG) Market, By Source, By End Use and By Geography- Growth, Future Prospects and Competitive Analysis, 2017 – 2025, the global liquefied petroleum gas (LPG) market was valued at US$ 266.8 Bn in 2017, and is expected to each US$ 457.9 Bn by 2025, expanding at a CAGR of 3.5% from 2017 to 2025.
Global Liquefied Petroleum Gas (LPG) market is projected to witness enormous growth due to wide adoption of LPG as a cooking gas from residential sector replacing other cooking fuels. Further, favorable government initiatives especially in key consuming economies of Asia Pacific such as China, India and Indonesia to promote LPG as the cooking fuel with the focus to substitute conventional cooking fuels such as coal, kerosene and wood is anticipated to drive the demand for Liquefied petroleum gas (LPG) during the forecast period. Further, low greenhouse gases emission characteristics of LPG influencing governments to promote the adoption of LPG as auto fuel. This in turn is projected to drive the demand for LPG over the forecast period. However, volatile crude oil and natural gas price is expected to remain the key challenge for the global liquefied petroleum gas (LPG) market during the forecast period (2016-2024).
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Asia Pacific is projected to be the key consuming market in global liquefied petroleum gas (LPG) market. Growing demand for cooking gas from residential sector coupled with various government initiatives such as subsidies on LPG cylinder to increase penetration of LPG as cooking fuel in emerging economies such as China and India influencing consumers to replace conventional cooking fuels such as wood, kerosene, coal. Further, increasing demand for LPG auto fuel due to growing awareness about the associated advantages of LPG as fuel in terms of greenhouse gases emission as well as cost-effectiveness of LPG as auto fuel is influencing consumers to adopt LPG as alternative transportation fuel. The region is also projected to witness highest growth over the forecast period (2016-2024).
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1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase II-Expert Panel Review
1.2.5. Approach Adopted
2. Executive Summary
2.1. Global LPG Market Snapshot
2.1.1. Global LPG Market by Source, 2015
2.1.2. Global LPG Market by End Use, 2015
2.1.3. Global LPG Market by Geography, 2015
2.1.4. Market Drivers, Challenges and Trends
3. Global LPG Market Dynamics
3.1. Market Overview
3.2. Value Chain Analysis
3.5. Future Prospects
3.6. Impact Analysis of Drivers and Challenges
3.7. Porter’s Five Force Analysis
3.7.1. Bargaining Power Of Suppliers
3.7.2. Bargaining Power Of Buyers
3.7.3. Threat Of Substitutes
3.7.4. Threat Of New Entrants
3.7.5. Industry Rivalry
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