The Global Liquid Petroleum Gas Market is Estimated to Reach $288.72 Billion by 2019

FORT WORTH, Texas, December 16, 2014 /PRNewswire/ --

This report studies the global liquid petroleum gas market with analysis and forecast of revenue, over the forecast period of 2014-2019. The market is expected to reach $288.74 billion by 2019, at CAGR of 4.0% from 2014 to 2019.The report "Liquid Petroleum Gas Market - Global Forecasts to 2019" analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Eurasia, Asia-Pacific, Middle East & Africa, and Latin America.

Browse through the TOC of the Liquid Petroleum Gas Market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.

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The global liquefied petroleum gas market is classified into source, application, and region. Source segment is further categorized into refineries, non-associated, and associated. The application segment is classified as residential/commercial, chemical, industrial, and auto fuel among others. According to geographical segmentation, this market is categorized into North America, Eurasia, Asia-Pacific, Middle East & Africa, and Latin America.

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Increasing demand of liquid petroleum gas, energy-efficiency, and growing concern over lowering carbon emissions are significant factors driving the growth of the global liquefied petroleum gas market. On the other hand, factors such as high cost of LPG distribution, potential risk of explosion, and inconsistent LPG prices are restricting its market demand. However, increasing governmental promotions for the use of LPG offers new growth opportunities for LPG market players.

As of 2014, Asia-Pacific is estimated to hold the largest share of the global liquid petroleum gas market, followed by North America. The residential/commercial application of LPG is estimated to grow at the highest CAGR from 2014 to 2019, which is simultaneously followed by the auto fuel segment. Considering varied sources of LPG, refinery is expected to account for a major market share, whereas non-associated source is expected to grow with highest CAGR during the forecast period. Gazprom, PetroChina, Sinopec, Saudi Aramco, Shell, Petronas, Exxon Mobil, BP, Petron, and Phillips 66 are considered as major players that have contributed to the growing demand of the global liquid petroleum gas market.

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