Propane Market

The global Propane market was valued at USD 2.8 Billion in 2020 and is projected to reach USD 51.2 Billion by 2028, growing at a CAGR of 12.10%% from 2021 to 2028.

Propane is a coherent part of globally rising commercial end-use industry. This end-use will foresee high traction globally due to growing hospitality industry in MEA and APAC regions.

The report covers in-depth study on the global Propane market, which comprises market trends such as drivers, restraints, and opportunities, regional trends, segmental analysis, and competitive landscape among others. This study comprises the market estimations and forecast in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities. The report includes a separate chapter covering detailed Propane market overview that includes Porter’s Five Forces Analysis, PESTLE Analysis, Player Positioning Analysis, SWOT Analysis, and Value Chain Analysis among others.

The wise spread COVID-19 outbreak has impacted several industries including Propane. The governments across the globe compel to employ stringent restriction such as lockdown, international border seals, and   implementing strict social distancing measures. This forces serval industries to opt for work from home which in turn disrupted the business processes. However, after mid 2021 the world is witnessing reopening of trading activities, business operations which is expected to stimulate the economic growth during upcoming years.  The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The report explains various driving factors, restraints/challenges, and opportunities in detail. These assessments aid the industry stakeholders to analyze the Propane market on the basis of different parameters, such as economies of scale, the share of various distribution channels, various factors affecting consumer behavior such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences.

Increase in demand from the Residential and Transportation Sectors mainly for energy generation for various applications. created a positive scope for the overall market growth. 

Demand in the petrochemical industry for energy generation has emerged as a primary factor in driving the market growth. 

Harmful effects of propane at higher concentrations are mainly restraining the market growth.

The report delivers an acute breakdown of the market based on various segments such as Product, Application, and region. The report will cover market estimations and forecast for each segment by region for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.

On the basis of Product, the market is divided into Gaseous state, Liquid,. Liquid held the largest share in 2020 and is projected to witness substantial growth during the forecast period.

Based on Application, the market is divided into Residential, Commercial, Industrial, Agricultural, Chemical & Refinery, Transportation,. Commercial attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The global Propane market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Propane market are Petronas (Malaysia), Phillips 66 (U.S.), Gazprom (Russia), PetroChina Co. Ltd. (China), BP plc (U.K.), Royal Dutch Shell plc (Netherlands), Petron Corp. (Philippine), Exxon Mobil Corp. (U.S.), Sinopec (China), Saudi Aramco (Saudi Arabia).. This section of the report will provide you extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. Moreover, the report also includes extensive information on key strategies such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.  

Based on the geography, the global Propane market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The regional analysis covers market estimations and forecast for each segment for each region for the years 2016–2028. The concentration of raw material suppliers as well as market players in one specific region impacts the global market scenario and the report covers exclusive information on the same.  Also, the report analyzes the intensity of competition in each region and its influence on the growth of the global Propane market.