Market Research Future (MRFR) has published a cooked research report on the “Global LPG Hose Market” that contains information from 2019 to 2032. The LPG Hose Market is estimated to register a CAGR of 6.00% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global LPG Hose Market— Repsol, China Gas Holdings Ltd., Saudi Arabian Oil Co., FLAGA GmbH, Kleenheat, Bharat Petroleum Corporation Limited, JGC HOLDINGS CORPORATION, Phillips 66 Company, Chevron Corporation, Reliance Industries Limited, Exxon Mobil Corporation, Total, Royal Dutch Shell, Petroliam Nasional Berhad (PETRONAS), PetroChina Company Limited, Petredec Pte Limited, Qatargas Operating Company Limited, Petrofac Limited, Vitol, China Petroleum & Chemical Corporation, BP Plc.
LPG Hose Market Highlights
The global LPG Hose Market is accounted to register a CAGR of 6.00% during the forecast period and is estimated to reach USD XX billion by 2032.
LPG is becoming a more popular fuel for a variety of applications due to its clean and efficient nature. This is motivated by a growing awareness of environmental issues and the necessity for renewable energy sources. However, severe laws and safety standards related to LPG handling and transportation act as a market restraint. While these standards protect safety, they can be difficult to comply with and costly for manufacturers and suppliers. On the other hand, the construction of LPG infrastructure and distribution networks provides a market potential by increasing accessibility and promoting market growth. Furthermore, the business faces competition from alternative fuel sources such as natural gas and electricity, which could limit the market's growth potential.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of LPG Hose Market Research Report
Segment Analysis
The global LPG Hose Market has been segmented based on Source and Application.
The market is segmented by source into refinery, associated gas, and non-associated gas. In 2023, the non-associated gas category held the biggest market share. Non-associated gas is gas that is not directly tied to oil production. This could include natural gas processing plants, refineries, and other sectors that use LPG.
Based on Application, the global LPG Hose Market has been segmented into residential/commercial, chemical, industrial, autogas, refinery and others. The residential/commercial category dominates the market throughout the forecast period, owing to increased household LPG use for cooking, power production, and water and space heating
Regional Analysis
The global LPG Hose Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe LPG Hose Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The LPG Hose Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World LPG Hose Market comprises the Middle East, Africa, and Latin America.
The North American region held the biggest market share. This indicates that North America accounted for a large portion of the demand for LPG hoses. This could be due to a variety of variables, including the significant usage of LPG in industries, commercial sectors, and residential applications in the region. The market share reflects North America's dominance and importance in the LPG hose sector.
Moreover, the European Liquefied Petroleum Gas (LPG) market accounts for a sizable market share. Many countries are considering lowering carbon emissions into the atmosphere by attending various summit gatherings such as COP 21. Furthermore, the German Liquefied Petroleum Gas (LPG) market held the biggest market share. In contrast, the United Kingdom Liquefied Petroleum Gas (LPG) market was the fastest-expanding market in the European region.
Additionally, the Asia-Pacific LPG Hose Market is predicted to expand at the quickest CAGR. Asia Pacific is likely to dominate the market throughout the forecast period, owing to a growing population and increased LPG usage for a variety of applications. Furthermore, the region's countries have plenty of resources and energy available. Furthermore, growing research and innovation in the petrochemical industry in China, India, and South Korea are expected to fuel the regional market.
Furthermore, the rest of the world's LPG Hose Market is divided into the Middle East, Africa, and Latin America. These areas have a strong demand for LPG as a clean and efficient fuel source for a variety of purposes, including cooking, heating, and industrial processes. Furthermore, governments in these regions encourage the use of LPG as an alternative to traditional fuels, resulting in greater use. Furthermore, infrastructure improvements and investments in the LPG sector are propelling market expansion by providing efficient distribution and accessibility to LPG. These reasons contribute to the rapid expansion of the LPG Hose Market in the Middle East, Africa, and Latin America.
Key Findings of the Study
- The global LPG Hose Market is expected to reach USD XX billion by 2032, at a CAGR of 6.00% during the forecast period.
- The Asia-Pacific LPG Hose Market is growing at the fastest CAGR owing to a growing population and increased LPG usage for a variety of applications.
- In 2023, based on Source, the non-associated gas category held the biggest market share.
- Repsol, China Gas Holdings Ltd., Saudi Arabian Oil Co., FLAGA GmbH, Kleenheat, Bharat Petroleum Corporation Limited, JGC HOLDINGS CORPORATION, Phillips 66 Company, Chevron Corporation, Reliance Industries Limited, Exxon Mobil Corporation, Total, Royal Dutch Shell, Petroliam Nasional Berhad (PETRONAS), PetroChina Company Limited, Petredec Pte Limited, Qatargas Operating Company Limited, Petrofac Limited, Vitol, China Petroleum & Chemical Corporation, and BP Plc. are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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