NEW YORK, April 29, 2015 /PRNewswire/ -- The MEA LPG market is majorly concentrated in the Middle Eastern countries, which contribute towards the maximum consumption and production of LPG in the region. Saudi Arabia is the largest consumer and producer of LPG in the Middle East, accounting for more than 50% of the total demand in Middle East region. South Africa and Egypt are expected to have considerable demands for LPG in Africa. The MEA LPG market was valued at $38.3 billion in 2013, and is estimated to grow at a CAGR of 4.0% from 2014 to 2019.
The MEA market, based on sources, has been categorized into refineries, associated, and non-associated sources of LPG, whereas its applications primarily include residential/commercial for cooking gas & household heating, chemical for chemicals manufacturing, and industrial for industrial processes such as heating, drying, and steam generation. The autogas application includes the use of LPG as fuel in automobiles.
The Middle East region is surplus in petroleum products; hence, the use of gasoline for automobiles is predominant in the region. Since the use of gasoline results in carbon emissions, the Middle East is expected to grow on autogas. Meanwhile, although Africa accounts for a smaller market share, the region is mostly developing and is expected to grow on the residential/commercial application.
Government-owned companies from the Middle East dominate the MEA LPG market. Regional oil & gas explorer and refiners are the major suppliers of LPG to the MEA countries. Saudi Aramco (Saudi Arabia) is the largest LPG producer in the region. National Iranian Oil Corporation is expected to be the second--largest LPG supplier in the MEA region. Apart from these, Kuwait National Petroleum (Kuwait) and Abu Dhabi Oil Refining Company (Abu Dhabi) have a considerable market share in the MEA LPG market.
Reasons to Buy the Report:
This report includes various analysis, including industry analysis (industry trends and PEST analysis), market share analysis of top players, supply chain analysis, and company profiles, which collaboratively discusses the basic views on competitive landscape, emerging and high-growth segments of the LPG market, respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help companies, hold a greater market share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
- Market Penetration:
- Comprehensive information on LPG offered by top players in this market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the LPG market
- Market Development: Comprehensive information about emerging markets, along with an in-depth analysis on the LPG market with respect to regions.
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the LPG market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the LPG market
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