Propane Market Projection By Technology, Top Key Players, Demand, Segment, Regional Analysis Revenue Forecast Till – 2028
According to this latest study, the growth in Propane Market size is projected to reach USD 172 billion in 2027 from an estimated USD 151 billion in 2021, growing at a CAGR of 2.2% globally.
Propane is derived as a by-product of natural gas processing and crude oil refining. It is a three-carbon alkane classified as one of the liquefied petroleum gases with the molecular formula C3H8. There are two ways in which propane is processed – refining and natural gas production. Propane, alongside butane, is acquired from liquid components by natural gas processing to avoid condensation in natural gas pipelines. The propane is thicker than gas, so the blended propane is stored and transported in a liquid state. The next step is to mix odorant and propane since it is naturally colorless and odorless. The propane is classified into 3 grades – HD5, HD10, and commercial propane and each grade come from the same raw material. It has a lesser melting point, very high hydrogen content, and combustion is much cleaner than that of coal. It is are majorly used in agriculture, commercial, and residential industries. Its wide usages in construction sites, industrial segments, automotive sector, and electricity generation from gas turbines. Furthermore, key sectors with the high use of propane are industrial (Chemicals), transportation, commercial and residential. Propane is a relatively clean-burning fossil fuel and was gained as a substitutes fuel under the US Clean Air Act. Nevertheless, its combustion does produce carbon monoxide, nitrogen oxide, greenhouse gas, sulfur dioxide which is toxic waste and does danger the environment.
The global Propane market provides qualitative and quantitative information on growth rate, market segmentation, market size, future trends and regional prospects. The research study represents a modern perspective aimed at securing the future potential of the Propane market. This report analyzes and evaluates the latest prospects for the new retail space, as well as the general and future market performance of Covid-19. In addition, this report provides a detailed overview of competition between some industries and others.
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Leading Key Players Covered in Propane market:
- DCC Plc
- Saudi Arabian Oil Co.
- AmeriGas Propane Inc.
- Air Liquide
- GAIL (India) Limited
- Indian Oil Corporation Ltd.
- Lykins Energy Solutions
- and Marsh L.P. Gas Co. Inc.
These companies are devising key strategies such as acquisitions, merges, collaborations, partnerships, new product launches, regional expansions, and targeting untapped markets to gain competitive advantage over other players working in the market.
Introspective Market Research offers a comprehensive overview of the market through the analysis of key parameters such as revenue, price, competition, and promotions, as well as the study, synthesis, and summarization of data from different sources. It analyzes the leading industry drivers and shows numerous market components. The information offered is thorough, dependable, and the result of a comprehensive primary and secondary study. Introspective Market Research reports offer a comprehensive global market as well as an in-depth strategic sourcing methodology and analysis based on qualitative and quantitative research to anticipate market growth.
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Segmentation of Propane market:
- Motor Fuel
- Industrial & Domestic Fuel
Geographic Segment Covered in the Report
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
South America (Brazil, Argentina, Rest of South America)
Reasons to Purchase this Market Report:
Market forecast analysis through recent trends and SWOT analysis
Propane Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
Propane Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
Competitive environment related to the Propane market share for key players, along with new projects and strategies that players have adopted over the past five years
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Key Benefits for Industry Participants & Stakeholders:
Industry drivers, restraints, and opportunities covered in the study
Neutral perspective on the market performance
Recent industry trends and developments
Competitive landscape & strategies of key players
Potential & niche segments and regions exhibiting promising growth covered
Historical, current, and projected market size, in terms of value
In-depth analysis of the Propane Market
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