FORT WORTH, Texas, March 5, 2015 /PRNewswire/ --
The Global Liquefied Petroleum Gas Market was valued at
$236.8 billion in 2014 and is
estimated to grow to $288.7 billion
by 2019, at a CAGR of 4.0% from 2014 to 2019.
Browse through the TOC of global liquefied petroleum gas market
for an in-depth analysis of the industry trends and segments, with
help of various tables and figures.
http://www.micromarketmonitor.com/market-report/liquid-petroleum-gas-reports-5046983367.html
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The global liquefied petroleum gas market is classified into
source, application, and region. The sources of LPG are refineries,
non-associated gases, and associated gases. The major applications
of LPG discussed in the report are residential/commercial,
chemical, industrial, and auto gas, among others. The geographical
analysis of the global LPG market has been on the basis of the
major regions, such as North
America, Eurasia, Asia-Pacific, Middle
East & Africa, and
Latin America.
The growing demand for cleaner fuel sources, energy-efficiency,
and lower carbon emissions are significant factors driving the
growth of the global liquefied petroleum gas market. On the other
hand, factors such as high cost of LPG distribution, potential risk
of explosion, and inconsistent LPG prices may restrict the market
growth in the coming years. However, the increasing governmental
promotions for the use of LPG offers new growth opportunities for
LPG market players.
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In 2014, Asia-Pacific held the
largest share with 32.7% of the global liquid petroleum gas market,
followed by North America with
24.6%. The residential/commercial application of LPG is estimated
to grow at the fastest CAGR of 3.6% during the forecast period of
2014 to 2019, which is simultaneously followed by the auto gas
segment. Among the sources of LPG, the refineries segment is
expected to account for a major market share, whereas the
non-associated source is expected to grow at the fastest CAGR
during the given forecast period.
Gazprom (Russia), PetroChina
Co. Ltd. (China), Sinopec
(China), Suadi Aramco
(Saudi Arabia), Royal Dutch Shell plc (Netherlands), Petronas (Malaysia), Exxon Mobil Corp. (U.S.), BP plc
(U.K.), Petron Corp. (Philippine), and Phillips 66 (U.S.) are
considered as the major players to have contributed in the growth
of the global liquid petroleum gas market.
Related Reports:
The market segmented on the basis of sources includes associated
gases, non-associated gases, and refineries. Associated gases are
related to crude oil extraction, while non-associated gases are
independent of crude oil. The market research report offers a
comprehensive overview of market share, value chain analysis, and
other market dynamics, including drivers, restraints, and upcoming
opportunities.
http://www.micromarketmonitor.com/market/latin-america-liquefied-petroleum-gas-6692783654.html
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