New York, NY -- (SBWIRE) -- 12/21/2020 -- The latest study by Reports and Data, called "Global Propane Market Forecast to 2027," lists some of the primary growth potentials of the global Propane industry. The primary target of this report is to help industry stakeholders capitalize on its highly informative content to make improved business decisions. The insightful data provided by the report are gathered from several primary and secondary resources. Moreover, the report is intended to help readers gain actionable insights into the global Propane market and the prevailing growth opportunities and trends in particular.

The latest market intelligence report entails a holistic overview of the Propane market, providing the reader with essential conclusive data & information concerning market growth, evaluated on both regional and global levels. The competitive analysis of the report focuses on the leading market players and their lucrative business expansion initiatives. Hence, the sample copy of the 'Global Propane Market' research report includes a brief analysis of this ever-evolving business sector, encompassing the regional overview, competitive landscape, technological innovations, and future market developments.

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Market Drivers

Reports and Data has estimated the propane market to grow to USD 112.83 Billion by 2027. The industrial and domestic fuel sector occupied more than 40% of the market share in 2019 and is expected to grow with CAGR of 3.2 % during the forecast period. The commercial segment is estimated to hold 15% of the propane market share by the year 2027. Propane is widely used in portable stoves as it vaporizes on being released from a pressurized container. The broad area of applications is a major factor fostering the growth of the sector during the forecast period.

Regional Outlook

The Asia Pacific region has dominated the propane market with a 35% market share in the year 2019, and it is expected to grow at a rate of 3.5% during the forecast period. The region is expected to witness the highest growth during the forecast years owing to the high industrialization, well-established automobile industry and growing petrochemical industry. The regional market growth during the forecast period owes to the massive scope of expansion of all industries in the region

Competitive Outlook:

The leading contenders in the global Propane market are:

BP P.L.C. (British Petroleum), Exxon Mobil, Royal Dutch Shell, Chevron Corp., Sinopec, Total SA, Anadarko Petroleum Corp., Statoil ASA, Eni S.p.A, ConocoPhillips and Altagas.

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Market Segmentation by Product Type:

HD5 Propane
HD-10 Propane
Commercial grade propane

Market Segmentation by Application:

Industrial & Domestic fuel
Refrigeration
Motor fuel
Solvent
Others

Market Segmentation by End-user:

Commercial
Industrial
Transportation
Residential
Chemicals and Refineries
Agriculture
Others

Browse the full report description, along with the ToCs and List of Facts & Figures @ https://www.reportsanddata.com/report-detail/propane-market

The following timeline is considered for the global market estimation:

Historical Years: 2017-2018
Base Year: 2019
Estimated Year: 2020
Forecast Years: 2020-2027

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