Key players in The North America Liquefied Petroleum Gas Market include Shell, Exxon Mobil, BP, Petron, Chevron and Phillips 66.
(PRWEB) February 23, 2015
This report studies the North America liquefied petroleum gas market for the forecast period 2014 to 2019. The market is expected to reach ~$70 billion by 2019, at a CAGR of 3.0% from 2014 to 2019.
Browse through the TOC of The North America Liquefied Petroleum Gas Market for an analysis of industry trends, segment for an analysis of industry trends, segments & forecasts.
The North American liquefied petroleum gas market is classified on the basis of source, application, and country. The source segment is further categorized into refineries, non-associated, and associated. The application segment is classified into residential/commercial, chemical, industrial, auto fuel, and others. Countries taken into consideration are the U.S. and Canada.
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A number of factors such as the growing liquefied petroleum gas demand, energy-efficiency, lower carbon emissions, and ease of use drive the North America liquefied petroleum gas market. On the other hand, factors such as high costs of LPG distribution, potential risk of explosion, and inconsistent LPG prices restrict the growth of this market. However, the increasing governmental promotions for use of LPG offer new growth opportunities to the market players.
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As of 2014, the U.S. is estimated to hold the largest share of the North America liquefied petroleum gas market, followed by Canada. The residential/commercial application of LPG is estimated to account for a maximum share in 2014, followed by the chemical application. Considering the sources of LPG, refinery is expected to account for the major share, whereas the non-associated source is expected to grow at a moderate CAGR within the forecast period.
Shell, Exxon Mobil, BP, Petron, Chevron, and Phillips 66 are the major players in the North America liquefied petroleum gas market.
Global Liquid Petroleum Gas Market Research Report
The global liquid petroleum gas market is estimated to grow at a CAGR of 4.0% from 2014 to 2019. Although the mature markets (such as the U.S., Russia and Saudi Arabia) hold larger shares in the liquid petroleum gas market, the Asia-Pacific region is expected to grow at the highest CAGR of 5.3% in the forecast period.
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