Dubai LPG Market to Register a CAGR of 5.95% during the forecast period, 2024-2028
The growing public awareness regarding the advantages
of utilizing LPG in place of fossil fuels, coupled with the rise in clean and
renewable energy sources are the factors expected to drive market growth
during the forecast period.
According to TechSci Research report, “Dubai
LPG Market - By Region, Competition Forecast and Opportunities, 2018-2028”, the
Dubai LPG market is expected to maintain a high CAGR during the upcoming years
owing to growing public awareness regarding the advantages of utilizing liquefied
petroleum gas (LPG) over fossil fuels, coupled with the increasing adoption of
clean and renewable energy sources in Dubai, are anticipated to fuel market
expansion.
Liquefied Petroleum Gas (LPG) is a highly flammable
hydrocarbon gas commonly used as fuel in various applications. It comprises of
propane and butane, which are stored in containers for convenient
transportation and storage purposes. LPG exhibits remarkable versatility,
finding applications in residential, commercial, and industrial sectors,
primarily for heating, cooking, and powering appliances. Moreover, it has
gained popularity as an automotive fuel due to its lower emissions and
cost-effectiveness. LPG offers substantial advantages such as energy
efficiency, widespread availability, and portability. Notably, it is recognized
for its cleaner-burning properties, resulting in reduced emissions of
pollutants. Given its adaptability and environmental benefits, LPG continues to
be extensively utilized to meet diverse energy needs on a global scale.
The LPG industry in Dubai is embracing technological
advancements to optimize operations, enhance safety measures, and improve
efficiency. Automation, IoT-enabled devices, remote monitoring systems, and
advanced analytics are being implemented to streamline processes and ensure
optimal utilization of resources. These technologies are facilitating easier
and more efficient storage and transportation of LPG, thus making it a more
appealing choice for businesses and consumers. Furthermore, LPG-powered
vehicles are gaining popularity as a greener alternative to gasoline and
diesel-powered vehicles. These vehicles utilize LPG, a cleaner-burning fuel
that emits fewer emissions. The Dubai LPG market is experiencing rapid growth,
driven by the introduction of LPG-powered vehicles such as the Emirates Gas
Auto LPG, launched by Emirates Gas LLC in January 2023. This vehicle features a
1.2-liter LPG engine generating 75 horsepower and 102 Nm of torque, with a fuel
tank capacity of 50 liters and a range of up to 400 kilometres on a single
tank.
Browse over 30 market data Figures spread through 104
Pages and an in-depth TOC on the "Dubai LPG Market."
Based on application, the Dubai LPG market is
further segmented into residential, industrial, agriculture, transportation,
and commercial. The Dubai LPG market is dominated by the residential segment in
2022, with a market share of 55.75%. The Dubai government has implemented
safety regulations and guidelines to govern the storage, handling, and usage of
LPG cylinders in residential areas. These regulations aim to prevent accidents
and prioritize the well-being of residents. Furthermore, the growing demand
from various industrial applications, increased usage in power generation, the
expanding industrial sector, and supportive government initiatives have all
contributed to the growth of the LPG market in Dubai.
Based on source, the Dubai LPG market is
segmented into refinery, associated gas, and non-associated gas. The Dubai
LPG market is dominated by the non-associated gas segment in 2022, with a
market share of 44.71%. Non-associated gas, commonly referred to as
"unconventional gas," pertains to natural gas that exists
independently from oil reserves. This category encompasses various sources,
such as shale gas, coalbed methane, and tight gas.
Key market players
in the Dubai LPG market:
- Emirates Gas LLC
- Emirates General Petroleum Corporation
- Abu Dhabi National Oil Company for Distribution PJSC
- Brothers Gas Bottling & Distribution Co. LLC
- Al Mandoos Gas Cylinders Trading LLC
- Al Sakhra Gas Distribution LLC
- Unigas Technical & Trading Co. L.L.C
- Happy Way Gas Trading LLC (H W Gas)
- Lootah BCGas LLC
- Dubai Fuel Supply LLC
- Smart Gas Services L.L.C.
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"Dubai LPG market is expected to maintain a high
CAGR during the forecast period owing to substantial population growth and
urbanization in recent years. With the increasing population and ongoing
construction of residential and commercial buildings, there is a corresponding
rise in the demand for LPG for various applications such as cooking and
heating. LPG is utilized in diverse industrial processes, serving as a power
source for equipment and heating applications. With the ongoing growth and
diversification of industries in Dubai, there is a potential rise in demand for
LPG within these sectors.," said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Dubai LPG Market By Application
(Residential, Industrial, Agriculture, Transportation, and Commercial), By
Source (Refinery, Associated Gas, and Non-Associated Gas), By Cylinder Capacity
(5kg, 11-12.6kg, 13-14.2kg, 15-16.5kg, 19-29.5kg, and More than
29.5Kg), By Region, Competition Forecast and Opportunities,
2018-2028” has evaluated the future growth potential of Dubai 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 the Dubai LPG market.
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