Propane Market is expected to reach a market volume of 230.43 million metric tons by 2029, thanks to growth in the domestic and industrial fuel segment. The report analyzes Propane market dynamics by region and applications.
Propane Market Overview:
The Propane market's competitive landscape comprises information about rivals. A firm overview, financials, revenue produced, market potential, R&D investment, new market efforts, geographical presence, business strengths and weaknesses, product launch, and application domination are among the topics covered. The following information is only relevant to the organization's focus on the Propane market.
Market Scope:
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). To create percentage splits, market shares, and segment breakdowns, weights based on usage rate and average sale price are applied to each location. The percentage acceptance or usage of the given market Size in the relevant area or nation determines the country-wise segmentation of the main market and its sub-segments.
Propane Market Dynamics:
As the population of Asia Pacific, Africa, North America, and other places has increased, so has the use of liquefied petroleum gas (LPG) as a principal cooking fuel among the local populace. For instance, LPG is used as a cooking fuel by roughly 80% of all residential families in India. When compared to conventional fuels like wood and coal, LPG is much more affordable, convenient, clean, ecological, and portable. Due to LPG's advantages over conventional fuel, numerous governments have started efforts to encourage its usage as a cooking fuel.
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Propane Market Segmentation:
In rural areas of North America and northern Australia, propane is used to heat cow shelters, grain dryers, and other machines that generate heat. Propane is frequently kept in a sizable, permanent cylinder that is refilled by a propane supply truck when it is utilized for heating or grain drying. In the United States, 625 million households relied primarily on propane for heating in 2020.
Propane Market Key Players: Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data. The following are the key players of the Propane market-
North America
1. ExxonMobil (U.S)
2. Chevron Corporation (U.S)
3. Anadarko Petroleum Corporation (U.S)
4. Suburban Propane (U.S)
5. Dow DuPont (U.S)
6. ConocoPhillips (U.S)
Europe
7. BP PLC (U.K)
8. Total SA (France)
9. Air Liquide (France)
10. Shell (Netherlands)
11. Sika AG (Switzerland)
12. Eni S.P.A (Italy)
13. Gazprom (Russia)
Asia Pacific
14. China Petroleum & Chemical Corporation (China)
15. Sinopec (China)
16. Bharat Petroleum Corporation Limited (India)
17. Hindustan Petroleum Corporation Limited (India)
18. GAIL Limited (India)
19. Oil and Natural Gas Corporation (India)
20. P.T. Pertamina Gas (Indonesia)
Middle East and Africa
21. Saudi Arabian Oil Company (Saudi Arabia)
22. NNPC (Nigeria)
23. EGPC (Egypt)
24. Abu Dhabi National Oil Company (UAE)
25. ENOC Company (UAE)
26. Kuwait Petroleum Corporation (KPC) (Kuwait)
South America
27. Petrobras (Brazil)
28. PDVSA - Petróleos de Venezuela, SA. (Venezuela)
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Regional Analysis:
Individual market influencing components and changes in market rules that affect current and future market trends are also investigated in the geographical component of the research. Some of the factors used to forecast market scenarios for various countries include downstream and upstream value chain analysis, technological trends, Porter's five forces analysis, and case studies.
COVID-19 Impact Analysis on Propane Market: Furthermore, the research assesses the impact of COVID-19 on the Propane market. The fundamental purpose of this research is to help users understand the market in terms of definition, segmentation, market potential, key trends, and difficulties that the industry confronts across major regions. The paper provides a microeconomic and macroeconomic analysis of the overall impact of COVID-19 on the Propane Market. The report focuses on market share and size, clearly demonstrating the pandemic's influence on the worldwide Propane Market in the next years.
Key Questions Answered in the Propane Market Report are:
- What will be the Propane market's CAGR throughout the projected period
- Which market category emerged as the market leader in the Propane industry?
- Who are the key players in the Propane market?
- What important trends in the Propane industry are anticipated to develop throughout the forecast period?
- How big will the Propane market be in 2027?
- In 2020, which business segment had the highest proportion of the Propane market?
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