Precision Business Insights has published a report on the global propane market, estimating its value at USD 86.54 Million in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/global-propane-market
The propane market includes the global production, distribution, and consumption of propane, a liquefied petroleum gas (LPG) that is widely used in residential, commercial, industrial, and transportation applications. Propane is a popular fuel for heating, cooking, refrigeration, and off-grid power production due to its mobility, clean-burning qualities, and low cost.
Drivers:
- Growth in autogas (propane vehicle fuel) programs, especially in North America and Europe.
- Lower carbon emissions than coal or diesel; favored in sustainability initiatives and off-grid power systems.
The global propane market segmentation:
1) By End User: Agriculture, Chemicals and Refineries, Commercial, Industrial, Residential and Transportation
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Regional Overview:
The report also examines the current concerns and their Future Effects on the propane market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the propane market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
The competitive landscape is dominated by major players like BASF, British Petroleum, Evonik, ExxonMobil, Ferrellgas Partners L.P., Lykins Energy Solutions, PDVSA, PetroChina Company Limited, Reliance Industries Ltd., Shell, Sinopec, Valero Energy Corp.
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