Jul 21, 2020   SOURCE: PR NewsWire

Global Liquefied Petroleum Gas (LPG) Industry Outlook, 2020-2027 with Profiles of 41 Market Players

DUBLIN, July 21, 2020 /PRNewswire/ -- The "Liquefied Petroleum Gas (LPG) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

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The publisher brings years of research experience to this 9th edition of this report. The 284-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global Liquefied Petroleum Gas (LPG) Market to Reach US$289.9 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Liquefied Petroleum Gas (LPG) estimated at US$257.6 Billion in the year 2020, is projected to reach a revised size of US$289.9 Billion by 2027, growing at a CAGR of 1.7% over the period 2020-2027.

Natural Gas Well, one of the segments analyzed in the report, is projected to grow at a 1.7% CAGR to reach US$168.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Refineries segment is readjusted to a revised 1.7% CAGR for the next 7-year period. This segment currently accounts for a 41.7% share of the global Liquefied Petroleum Gas (LPG) market.

The U.S. Accounts for Over 27.1% of Global Market Size in 2020, While China is Forecast to Grow at a 3.4% CAGR for the Period of 2020-2027

The Liquefied Petroleum Gas (LPG) market in the U.S. is estimated at US$69.8 Billion in the year 2020. The country currently accounts for a 27.09% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$55.4 Billion in the year 2027 trailing a CAGR of 3.3% through 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.2% and 1.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.6% CAGR while Rest of European market (as defined in the study) will reach US$55.4 Billion by the year 2027.

Competitors identified in this market include, among others:

    --  Bharat Petroleum Corp. Ltd.
    --  BP PLC
    --  Chevron Corporation
    --  China Gas Holdings Ltd.
    --  Copagaz Distribuidora de Gas SA
    --  ExxonMobil Corporation
    --  Kleenheat Gas Pty Limited
    --  Oman Oil Co. SAOC
    --  Origin Energy Limited
    --  Petroleos de Venezuela SA (Venezuela)
    --  Phillips 66 Company
    --  Qatargas Operating Company Limited
    --  Reliance Industries Ltd.
    --  Repsol SA
    --  Royal Dutch Shell PLC
    --  Sinopec Corporation
    --  Total SA
    --  UGI Corporation

Total Companies Profiled: 41

For more information about this report visit https://www.researchandmarkets.com/r/eo88x1

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SOURCE Research and Markets