LPG Market To Witness 66% Of The growth From APAC | Residential Segment Emerged As The Largest Revenue-Generating End-user Segment In 2021 | Technavio
NEW YORK, March 17, 2022 /PRNewswire/ -- A latest market analysis report titled "Liquefied Petroleum Gas (LPG) Market by End-user, and Geography - Forecast and Analysis 2022-2026" has been added to Technavio's catalog. The report identifies the market to witness a YOY growth of 1.91% in 2022 at an accelerating growth momentum at a CAGR of 3.10% from 2021 to 2026. The report is segmented by end-user (residential, petrochemical, industrial and commercial, transport, and others) and geography (APAC, North America, Europe, South America, and MEA).
66% of the market growth originated from APAC. China, India, and Japan are the key markets for liquefied petroleum gas (LPG) market in APAC. The increasing demand for LPG from sectors such as the residential and petrochemical will facilitate LPG market growth in APAC over the forecast period.
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LPG Market Vendor Insights
The LPG market is fragmented and the degree of fragmentation will intensify during the forecast period due to emerging competition from the new players entering the market. Companies are offering innovative solutions to strengthen their market positions. For instance, Astomos Energy Corp. offers LPG supply chain such as overseas procurement, vessel operation, import terminal and many more.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Astomos Energy Corp.
- Bharat Petroleum Corp. Ltd.
- BP Plc
- China Gas Holdings Ltd.
- Exxon Mobil Corp.
- Indian Oil Corp. Ltd.
- Oil and Natural Gas Corp. Ltd.
- OQ SAOC
- Saudi Arabian Oil Co.
- Shell plc
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Free Sample Report.
LPG Market Segment Highlights
By End-user
- Residential
The residential segment held the largest LPG market share in 2021. The segment will continue to account for the largest share throughout the forecast period. The physical properties of LPG make it convenient to transport significant amounts of energy as a liquid under moderate pressure in specially designed bottles. The adoption of LPG in remote towns and villages is high as the supply of natural gas is limited in these remote areas. - Petrochemical
- Industrial and commercial
- Transport
- Others.
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Key Market Trend & Challenge:
The increase in the supply of natural gas is one of the key drivers supporting the liquefied petroleum gas (LPG) market growth.
In addition, the adoption of LPG as a marine fuel is another factor supporting the liquefied petroleum gas (LPG) market growth. Owing to the stringent regulations pertaining to marine emissions, there has been increasing adoption of LPG as a marine fuel and development of LPG bunkering. As a result, this will boost the growth of the global LPG market during the forecast period.
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Liquefied Petroleum Gas (LPG) Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 3.10% |
Market growth 2022-2026 | $ 49.15 billion |
Market structure | Fragmented |
YoY growth (%) | 1.91 |
Regional analysis | APAC, North America, Europe, South America, and MEA |
Performing market contribution | APAC at 66% |
Key consumer countries | China, US, India, Japan, Germany, and Brazil |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | Astomos Energy Corp., Bharat Petroleum Corp. Ltd., BP Plc, China Gas Holdings Ltd., Exxon Mobil Corp., Indian Oil Corp. Ltd., Oil and Natural Gas Corp. Ltd., OQ SAOC, Saudi Arabian Oil Co., and Shell plc |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 3
Exhibit 04: Key Finding 5
Exhibit 05: Key Finding 6
Exhibit 06: Key Finding 7
Exhibit 07: Key Finding 8
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent Market
Exhibit 08 Parent market
Exhibit 09: Market characteristics
2.2 Value Chain Analysis
Exhibit 10: Value Chain Analysis: Oil and gas exploration and production market
2.2.1 Inputs
2.2.2 Operations
2.2.3 Production process
2.2.4 Abandonment
2.2.5 Outbound logistics
2.2.6 End-users
2.2.7 Industry innovations
3. Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
Exhibit 13: Global - Market size and forecast 2021 - 2026 ($ billion)
Exhibit 14: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 15: Five forces analysis 2021 - 2026
4.2 Bargaining power of buyers
Exhibit 16: Bargaining power of the buyer
4.3 Bargaining power of suppliers
Exhibit 17: Bargaining power of the supplier
4.4 Threat of new entrants
Exhibit 18: Threat of new entrants
4.5 Threat of substitutes
Exhibit 19: Threat of substitutes
4.6 Threat of rivalry
Exhibit 20: Threat of rivalry
4.7 Market condition
Exhibit 21: Market condition - Five forces 2021
5. Market Segmentation by End- user
5.1 Market segments
Exhibit 22: End- user- Market share 2021 - 2026 (%)
5.2 Comparison by End- user
Exhibit 23: Comparison by End- user
5.3 Residential - Market size and forecast 2021-2026
Exhibit 24: Residential - Market size and forecast 2021-2026 ($ billion)
Exhibit 25: Residential - Year-over-year growth 2021-2026 (%)
5.4 Petrochemical - Market size and forecast 2021-2026
Exhibit 26: Petrochemical - Market size and forecast 2021-2026 ($ billion)
Exhibit 27: Petrochemical- Year-over-year growth 2021-2026 (%)
5.5 Industrial and commercial - Market size and forecast 2021-2026
Exhibit 28: Industrial and commercial - Market size and forecast 2021-2026 ($ billion)
Exhibit 29: Industrial and commercial - Year-over-year growth 2021-2026 (%)
5.6 Transport - Market size and forecast 2021-2026
Exhibit 30: Transport - Market size and forecast 2021-2026 ($ billion)
Exhibit 31: Transport - Year-over-year growth 2021-2026 (%)
5.7 Others - Market size and forecast 2021-2026
Exhibit 32: Others - Market size and forecast 2021-2026 ($ billion)
5.7.1 Agriculture
5.7.2 Non-energy uses
Exhibit 33: Others - Year-over-year growth 2021-2026 (%)
5.8 Market opportunity by End-user
Exhibit 34: Market opportunity by End-user
6. Customer landscape
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
6.1 Overview
Exhibit 35: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
Exhibit 36: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 37: Geographic comparison
7.3 APAC - Market size and forecast 2021-2026
Exhibit 38: APAC - Market size and forecast 2021-2026 ($ billion)
Exhibit 39: APAC - Year-over-year growth 2021-2026 (%)
7.4 North America - Market size and forecast 2021-2026
Exhibit 40: North America - Market size and forecast 2021-2026 ($ billion)
Exhibit 41: North America - Year-over-year growth 2021-2026 (%)
7.5 Europe - Market size and forecast 2021-2026
Exhibit 42: Europe - Market size and forecast 2021-2026 ($ billion)
Exhibit 43: Europe - Year-over-year growth 2021-2026 (%)
7.6 South America - Market size and forecast 2021-2026
Exhibit 44: South America - Market size and forecast 2021-2026 ($ billion)
Exhibit 45: South America - Year-over-year growth 2021-2026 (%)
7.7 MEA - Market size and forecast 2021-2026
Exhibit 46: MEA - Market size and forecast 2021-2026 ($ billion)
Exhibit 47: MEA - Year-over-year growth 2021-2026 (%)
7.8 Key leading countries
Exhibit 48: Key leading countries
7.9 Market opportunity by geography
Exhibit 49: Market opportunity by geography ($ billion)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Increase in supply of natural gas
8.1.2 Increasing government support for LPG adoption
8.1.3 Rising need for cleaner fuel
8.2 Market challenges
8.2.1 Fluctuation in oil and gas prices
8.2.2 Competition to LPG from other sources of energy
8.2.3 Infrastructural challenges
Exhibit 50: Impact of drivers and challenges
8.3 Market trends
8.3.1 Adoption of LPG as marine fuel
8.3.2 Technological advances
8.3.3 Increasing collaboration among various stakeholders of LPG value chain
9. Vendor Landscape
9.1 Overview
Exhibit 51: Vendor landscape
9.2 Landscape disruption
Exhibit 52: Landscape disruption
Exhibit 53: Industry Risk
10. Vendor Analysis
10.1 Vendors covered
Exhibit 54: Vendors covered
10.2 Market positioning of vendors
Exhibit 55: ?Market positioning of vendors?
10.3 Astomos Energy Corp.
Exhibit 56: Astomos Energy Corp. - Overview
Exhibit 57: Astomos Energy Corp. - Product and service
Exhibit 58: Astomos Energy Corp. - Key offerings
10.4 Bharat Petroleum Corp. Ltd.
Exhibit 59: Bharat Petroleum Corp. Ltd. - Overview
Exhibit 60: Bharat Petroleum Corp. Ltd. - Business segments
Exhibit 61: Bharat Petroleum Corp. Ltd. - Key offerings
Exhibit 62: Bharat Petroleum Corp. Ltd. - Segment focus
10.5 BP Plc
Exhibit 63: BP Plc - Overview
Exhibit 64: BP Plc - Business segments
Exhibit 65: BP Plc - Key offerings
Exhibit 66: BP Plc - Segment focus
10.6 China Gas Holdings Ltd.
Exhibit 67: China Gas Holdings Ltd. - Overview
Exhibit 68: China Gas Holdings Ltd. - Business segments
Exhibit 69: China Gas Holdings Ltd. - Key offerings
Exhibit 70: China Gas Holdings Ltd. - Segment focus
10.7 Exxon Mobil Corp.
Exhibit 71: Exxon Mobil Corp. - Overview
Exhibit 72: Exxon Mobil Corp. - Business segments
Exhibit 73: Exxon Mobil Corp. - Key offerings
Exhibit 74: Exxon Mobil Corp. - Segment focus
10.8 Indian Oil Corp. Ltd.
Exhibit 75: Indian Oil Corp. Ltd. - Overview
Exhibit 76: Indian Oil Corp. Ltd. - Business segments
Exhibit 77: Indian Oil Corp. Ltd. - Key offerings
Exhibit 78: Indian Oil Corp. Ltd. - Segment focus
10.9 Oil and Natural Gas Corp. Ltd.
Exhibit 79: Oil and Natural Gas Corp. Ltd. - Overview
Exhibit 80: Oil and Natural Gas Corp. Ltd. - Business segments
Exhibit 81: Oil and Natural Gas Corp. Ltd. - Key offerings
Exhibit 82: Oil and Natural Gas Corp. Ltd. - Segment focus
10.10 OQ SAOC
Exhibit 83: OQ SAOC - Overview
Exhibit 84: OQ SAOC - Product and service
Exhibit 85: OQ SAOC - Key offerings
10.11 Saudi Arabian Oil Co.
Exhibit 86: Saudi Arabian Oil Co. - Overview
Exhibit 87: Saudi Arabian Oil Co. - Product and service
Exhibit 88: Saudi Arabian Oil Co. - Key offerings
10.12 Shell plc
Exhibit 89: Shell plc - Overview
Exhibit 90: Shell plc - Product and service
Exhibit 91: Shell plc - Key offerings
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 92: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 93: Research Methodology
Exhibit 94: Validation techniques employed for market sizing
Exhibit 95: Information sources
11.4 List of abbreviations
Exhibit 96: List of abbreviations
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