The Propane Global Market Report 2023, provides comprehensive information on the propane market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/propane-global-market-report
The global propane market size is expected to grow from $79.21 billion in 2022 to $84.99 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global propane market size is expected to reach $107.97 billion in 2027 at a CAGR of 6.2%.
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Technological advancements are a key trend gaining popularity in the propane market. Companies operating in the propane market are adopting new technologies to sustain their position in the market. For instance, in April 2021, Nevada Nano, a US-based company that develops and manufactures high-performance, low-cost silicon MEMS gas sensors, launched a technology called the Molecular Property Spectrometer (MPS) R-290 Propane sensor. The MPS R-290 Propane sensor utilizes advanced technology to accurately detect and quantify propane concentrations in real-time, providing a reliable and cost-effective solution for monitoring propane leaks and ensuring safety in industrial and commercial settings. The device is mostly used in air conditioners, vending machines, refrigeration and air conditioning racks, and dryers.
The propane market is segmented:
1) By Form: Liquid, Gas
2) By Grade: HD-5 Propane, HD-10 Propane, Commercial Propane
3) By Application: Industrial, Commercial, Residential, Agriculture, Transportation, Chemicals And Refineries, Other Applications
Asia-Pacific was the largest region in the propane market in 2022.
The table of contents in TBRC’s propane market report includes:
1. Executive Summary
2. Propane Market Characteristics
3. Propane Market Trends And Strategies
4. Propane Market – Macro Economic Scenario
5. Propane Market Size And Growth
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26. Africa Propane Market
27. Propane Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Propane Market
29. Propane Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Chevron Corporation
- China Petroleum & Chemical Corporation
- China National Petroleum Corporation
- ConocoPhillips Company
- Eni S p A, Exxon Mobil Corporation
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