The market report aims to provide an overview of the industry through detailed market segmentation. The report provides thorough information regarding the overview and scope of the market, along with market drivers, restraints, and key trends. It covers both the quantitative and qualitative aspects of the industry in each region and country participating in the study.
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Key Drivers of the Liquefied Petroleum Gas Market:
The global liquefied petroleum gas market is anticipated to witness strong demand during the forecast period. This is attributed to the rising adoption of liquified petroleum gas across various application areas, including residential and commercial areas, followed by the increasing number of government initiatives and subsidies for the adoption of LPG at the global level. Additionally, the numerous remarkable benefits related to the usage of liquefied natural gas such as higher calorific value, decreases pollution, improves reliability as compared to the other fuels, high portability, and convenience, are certain factors that will attract many end-users into the market.
The increasing inclination of customers towards using clean energy as it emits low greenhouse gas emissions, along with the implementation of sustainable energy strategies and continuous technological advancements in the LPG industry is further surging the growth of the liquefied natural gas industry. In addition to this, the growing rate of population and urbanization has resulted in an increase in the demand for LPG. However, certain factors that are hampering the growth of the global liquefied natural gas market include the high cost of LPG and the increasing safety concerns.
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This report splits the market as follows:
By Source Type:
- Associated Gas
- Non-Associated Gas
- Auto Fuel
- North America
- United States of America
- Asia Pacific
- Rest of APAC
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
- Rest of the world (remaining countries of the LAMEA region)
The Liquefied Petroleum Gas Market report also scans the competitive landscape and profiles the major players operating in the market, including Exxon Mobil Corporation, Bharat Petroleum Corporation Limited, Chevron Corporation, China National Petroleum Corporation, Royal Dutch Shell, China Petroleum & Chemical Corporation, Petroliam Nasional Berhad (PETRONAS), Phillips 66 Company, Valero Marketing and Supply Company, and Qatar Petroleum, among others.
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