Asia LPG Market to Cross $ 109 Billion by 2024
Rapid urbanization in
developing countries, increasing usage of LPG in
Commercial and Residential Sectors & Rising Per Capita Income to
bolster Asia LPG market through 2024
According
to TechSci Research report, “Asia
Liquefied Petroleum Gas (LPG) Market, By Source, By Application, By LPG
Composition, By Country, Competition, Forecast & Opportunities, 2024”, Asia LPG market
is projected to cross $ 109
billion by 2024. The growth of the Asia LPG market is majorly attributable to
increasing demand for liquefied petroleum gas as a fuel for power generation in
remote and off-grid locations in comparison to its less environment-friendly
alternatives like coal, diesel and fuel oil. LPG is a clean and odorless fuel
that emits significantly lesser amount of CO2 as compared to petrol or diesel.
Due to its cost effectiveness and minimal wastage, LPG is being increasingly
employed in both commercial and household sectors, worldwide. In addition to
its use as a cooking fuel, LPG is utilized as a feedstock in petrochemical plants,
food processing plants, metal processing plants, ceramic industries, etc. Consumption
of LPG in household segment is surging in Asia, owing to the region’s huge
and expanding population base. Rising LPG imports and augmenting demand
for cleaner fuel, predominantly by major developing economies such as India,
Indonesia & Thailand is expected to fuel LPG consumption in Asia during the
forecast period as well.
Browse 34 market data Tables and 92 Figures
spread through 126 Pages and an in-depth TOC on " Asia LPG Market "
https://www.techsciresearch.com/report/asia-liquefied-petroleum-gas-lpg-market/4186.html
Based on the source, Asia LPG market has
been categorized into refinery, associated gases & non-associated gases.
Among these, refinery category accounted for a majority market share in 2018.
Non-associated gases category is expected to witness the highest growth during
2019-2024. Natural gas, natural gas liquid/condensate and shale gas producing
reserves are the major sources of non-associated gas-based LPG. On the basis of
country, Asia LPG market is segmented into India, Indonesia, Thailand, Vietnam,
Philippines, Malaysia, Bangladesh and Myanmar. Among these countries, India dominates
Asia LPG market. The growth of India LPG market is led by government's push to
provide clean cooking fuel to every household through the Pradhan Mantri
Ujjwala Yojana (PMUY). Moreover, rapid increase in population combined with LPG
penetration in rural areas is further expected to boost the demand for LPG in
India.
Download
Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4186
Customers
can also request for 10% free customization on this report.
“Asia LPG market is anticipated to witness
positive growth over the next five years. The growth in the market can be
attributed to growing demand for LPG across Asia region backed by rapid
urbanization in the developing countries like India, China, Thailand, etc.
Moreover, increasing usage of LPG in commercial and residential sectors along
with rising per capita income would further steer growth in the market.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Asia Liquefied Petroleum Gas (LPG)
Market, By Source, By Application, By LPG Composition, By Country, Competition,
Forecast & Opportunities, 2024” has evaluated the future growth potential of Asia
Liquefied Petroleum Gas (LPG) Market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in Asia
Liquefied Petroleum Gas (LPG) Market.
About
TechSci Research
TechSci Research is a leading global
market research firm publishing premium market research reports. Serving 700
global clients with more than 600 premium market research studies, TechSci
Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research-based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr.
Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email:
[email protected]