Home / Businesswire / Global Liquefied Petroleum Gas Market 2019-2023 | Increasing Government Support to Drive Growth | Technavio

Global Liquefied Petroleum Gas Market 2019-2023 | Increasing Government Support to Drive Growth | Technavio

LONDON–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/Energy?src=hash" target="_blank"gt;#Energylt;/agt;–The global liquefied petroleum gas (LPG) market research report by Technavio
predicts the market to post a CAGR of close to 3% during the
period 2019-2023.


A key driver for the global liquefied petroleum gas market is the
increasing government support for LPG adoption. The use of LPG has been
growing across various sectors globally because of the rising focus on
reducing GHG emissions and ensuring sustainable energy for all. There
has been substantial support from the government in the form of
initiatives and subsidies to further boost the adoption of LPG. For
instance, the fifth Annual Asia LPG Summit took place in the
International Convention City Bashundhara, Bangladesh. The summit aimed
at conveying the importance of building a safe and sustainable future of
energy sector in Bangladesh, emphasizing the role of LPG.

As per Technavio, the adoption of LPG as marine fuel will have a
positive impact on the market and contribute to its growth significantly
over the forecast period. This global
liquefied petroleum gas market 2019-2023
research report also
analyzes other important trends and market drivers that will affect
market growth over 2019-2023.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Global liquefied petroleum gas market: Adoption
of LPG as marine fuel

The IMO has introduced low sulfur regulation to reduce sulfur emissions
from ships, which will be effective from January 1, 2020. All ship
owners are expected to reduce their sulfur emissions by 85%. Hence,
ships need to use fuel oil with low sulfur content, which has led to the
development of a future market for LPG as a marine fuel. The use of LPG
can assist ship owners in reducing pollutant emissions.

“The use of LPG virtually eliminates sulfur emissions, thereby
enabling ship owners to comply with low sulfur regulations. The
reduction of NOx emissions can also be achieved depending on the engine
technology. For instance, in case of a two-stroke diesel engine, the NOx
emissions could be reduced to 80%-90% with the use of heavy fuel oil,” says
a senior research analyst at Technavio.

Global liquefied petroleum gas market:
Segmentation analysis

This liquefied petroleum gas market analysis report segments the market
by end-user (residential, petrochemical, industrial and commercial,
transport, and others) and geography (the Americas, APAC, and EMEA).

The residential segment held the largest liquefied petroleum gas market
share in 2018, accounting for nearly 40% of the market. This end-user
segment is expected to dominate the global market throughout the
forecast period.

The APAC region led the market in 2018 with more than 44% of the market
share, followed by the Americas and EMEA respectively. The APAC region
is expected to dominate the market throughout the period 2019-2023.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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