The propane market was valued at 166.83 million metric tons in 2021, and it is expected to reach 230.43 million metric tons by 2029 with a CAGR of 4.12% during the forecast period.
Propane Market Drivers, Trends, regional analysis and forecast by 2029.
As per Maximize Market research, a global business research and consultancy firm, the market value for the Propane market was valued at 166.83 million metric tons in 2021, and it is expected to reach 230.43 million metric tons by 2029 with a CAGR of 4.12% during the forecast period.
An in-depth analysis of statistics on current and emerging trends sheds light on the dynamics of the Propane Market. In order to evaluate the importance of many factors, including threats provided by various agents, competitive strength, and the ability of bright young businesses to understand a resource, the study covers Porter's five forces. The research did a micro-level analysis of each country to establish the total market size by country and segments. A bottom-up methodology is used to estimate the size of the regional and global markets. It is feasible to ascertain the contribution of the unorganized market to the size of the overall market by performing a micro-level analysis of each country. The results are then verified by speaking with prominent local businesspeople in interviews.
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Propane Market Key players:
• Gazprom
• Shell
• China Petroleum & Chemical Corporation
• ExxonMobil
• Saudi Arabian Oil Company
• Chevron Corporation
• Sinopec
• Bharat Petroleum Corporation Limited
• Hindustan Petroleum Corporation Limited
• ConocoPhillips
• Sika AG
• Total SA
• Anadarko Petroleum Corporation
• Dow DuPont
• Eni S.P.A
• Others
The results are then verified through interviews with prominent local businessmen. Due to the SWOT analysis of each player, PESTLE analysis, and Porter's analysis benchmarking of significant players on several metrics, this report is distinct and a guide for investors. The supply and consumption information for each participant is gathered from reputable third-party databases, official government databases, and yearly reports in the case of publicly traded enterprises. If a company's annual reports are not publicly available, you might ask the local government's tax division for them.
Our market forecasting is based on a market model, which bases its assumptions on the market's dynamics, connectivity, and recognized impacting factors. Factual information was acquired to support these claims using primary and secondary research techniques, regression analysis, and extensive interviews with industry representatives.
Propane Market Segmentation:
Propane is used to heat cattle shelters, grain dryers, and other heat-producing appliances in rural areas of North America and northern Australia. When propane is used for heating or grain drying, it is often stored in a huge, permanent cylinder that is refilled by a propane supply truck. In 2020, 625 million households in the United States used propane as their major source of heat.
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COVID-19 Impact:
The three major impacts of COVID-19 on the global economy are immediate changes in supply and demand, market and supply chain disruptions, and economic impacts on businesses and financial markets. Following COVID-19 concerns, the market will offer attractive opportunities for producers, according to our analysts who are monitoring the global situation. The purpose of the report is to further highlight the impact of the current environment, economic recession, and COVID-19 on the industry as a whole.
Regions:
North America (the United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, and Colombia), the Middle East, and Africa are the key geographies that are examined in this market study (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).
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Maximize Market Research provides B2B and B2C research on 12,500 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications and other manufacturing sectors.
Propane Market , Propane Market Size , Propane Market Demand , Propane Market Analysis , Propane Market Scope
Nov 24, 2022