Residential Heat Pump Market Expected to Witness Sustainable Growth Over 2030

 Residential heat pumps are widely installed in residential zones for maintaining warm and cool temperatures in homes. These are energy and environment-efficient and a popular alternative to air conditioners and furnaces. The residential heat pump market was valued at $33.5 billion in 2021 and is estimated to reach $77.5 billion by 2030, growing at a CAGR of 9.7% from 2022 to 2030.

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The global residential heat pump industry is segmented on the basis of type and power source. By type, the market is classified as air source, water source, and geothermal. By power source, the market is classified into electric-powered and gas-powered. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in this report include Midea Group, Johnson Controls, Daikin, Carrier Corporation, Glen Dimplex, NIBE, Stiebel Eltron, Viessmann, Mitsubishi Electric Corporation, and Danfoss.

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The report focuses on the global residential heat pump market analysis and the major products & applications, where residential heat pumps are used, and roles of different key players that shape the market. Also, the report focuses on the overall demand and residential heat pump market share in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices and residential heat pump market trends are studied comprehensively.

IMPACT OF COVID-19 ON THE GLOBAL RESIDENTIAL HEAT PUMP MARKET

• Residential heat pumps are commonly used to warm the interior of homes. However, due to the lockdown and severe controls implemented as a result of the COVID-19 pandemic, heat pump production plants have suffered a significant reduction in 2020, owing to a reduced workforce and a disturbed supply chain.
• COVID-19 hampered different industrial activities and disrupted the supply chain, affecting practically all industries. Due to a lack of workers, most businesses have shut down. As a result of COVID-19's influence, the global residential heat pump market forecast has seen a significant drop.
• According to the United Nations Industrial Development Organization (UNIDO), 30.0%-70.0% of the pre-COVID-19 workforce of various industries, such as electrical and other third-party vendors, migrated to their hometowns due to uncertainties and loss of income during the lockdown. This unavailability or less availability of workforce is expected to directly affect the production and manufacturing activities, thereby resulting in decline in the residential heat pump market growth during the forecast period.

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Key Findings of the Study

• On the basis of type, the air source segment dominated the global residential heat pump market in 2021 and is projected to be the fastest-growing segment during the forecast period.
• On the basis of power source, the electric powered segment dominated the global residential heat pump market in 2021 and is also projected to be the fastest-growing segment during the forecast period.
• On the basis of region, Asia-Pacific market is projected to grow fast during the forecast period.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Space-Based Solar Power Market to Register Unwavering Growth During To 2030

 The space-based solar power market size was valued at $425.7 million in 2020 and is projected to reach $902.2 million by 2030, growing at a CAGR of 7.8% from 2021 to 2030. Space-based solar power generation involves the use of a solar power generation system, which requires solar panels in space to produce solar power and transmit it to Earth using microwave and laser transmitting satellite systems. Multiple benefits have been associated with space-based solar power such as it helps in the generation of clean baseload electricity, does not emit nuclear radiation, and does not have cooling systems.

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Significant development of the end-use industries such as chemical, mining, manufacturing, construction, and automotive propel the demand for electricity, which, in turn, is expected to drive the growth of the space-based solar power market, globally. In addition, the surge in demand for power from space applications such as satellites and space vehicles notably contributes toward the growth of the market. However, the high cost associated with launching, maintenance, and installation of space-based solar power systems is the key factor hampering the growth of the global space-based solar power market.

Depending on the solar satellite type, the laser-transmitting solar satellite segment garnered the largest share of about 53.97% in 2020, and is expected to maintain its dominance during the forecast period. This is attributed to an increase in demand for space-based solar power systems for providing power for satellites during the eclipse, for orbital transfer vehicles, for solar arrays on the moon, and for electricity generation.

On the basis of application, the electricity generation segment holds the largest share, in terms of revenue, and is expected to continue this trend during the forecast period, owing to a rise in energy demand along with the cleaner generation of electricity across the globe.

Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the largest share contributor in 2020 and is anticipated lead during the forecast period, due to an increase in investment & R&D toward space-based solar power and the presence of a large consumer base in the region.

In addition, China and India have emerged as key hubs for space missions and solar power generation, thereby propelling the growth of the Asia-Pacific space-based solar power market from 2021 to 2030. Moreover, a rise in awareness toward solar energy and its benefits in extracting solar power from space rather than earth-based solar power is expected to drive the growth of the market in Asia-Pacific.

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The global market analysis covers in-depth information on the major space-based solar power industry participants. The key players operating and profiled in the report include Airborne, Azur Space Solar Power GmbH, CESI SpA, Fralock Innovative Materials Manufacturing & Automation, Japan Aerospace Exploration Agency, Northrop Grumman Corporation, Solaero Technologies Corporation, Solaren Corporation, SpaceTech GmbH, and the Boeing Company. Other players in the value chain include Solar Space Technologies, Space Canada Corporation, DHV Technology, and others.

The key players are adopting numerous strategies such as product launches, agreements, and business expansion to stay competitive in the space-based solar power market.

For instance, in May 2021, Northrop Grumman Corporation signed an agreement with Airbus Defense and Space for the design, development, and produce 24 ship sets of solar arrays to support the OneSat satellite product line. The solar arrays will power the OneSat communication satellites in geosynchronous orbit.

In addition, in January 2021, Boeing signed an agreement with NASA to supply solar arrays for International Space Station (ISS). These new solar arrays will provide a power supply to orbiting laboratory. The installation of these solar arrays will begin in 2021.

COVID-19 Impact on the Market

The outbreak of COVID-19 has negatively impacted various industries and countries across the globe. Owing to the lockdown imposed, globally, a decrease has been witnessed in the growth rate of the construction & building, transportation, oil & gas, automotive, and energy sectors. This has further declined the need for electricity, which, in turn, has hampered the growth of the space-based solar power market in 2020. In Europe, the economies such as Germany, France, Spain, and, Italy are following stringent measures such as attaining social distancing and limiting movements to prevent the spread of coronavirus.

Moreover, R&D activities were on hold due to the shutdown of laboratories and incomplete funding. Thus, all these factors collectively are anticipated to result in sluggish growth of the global space-based solar power market in 2020. However, this situation is expected to improve as the government has started relaxing norms around the world for resuming business activities.

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Key Findings Of The Study

- In 2020, the microwave-transmitting solar satellite segment accounted for about 46.0% of the share in the global space-based solar power market and is expected to maintain its dominance during the forecast period.
- In 2020, the laser-transmitting solar satellite segment acquired a share of 53.97% in 2020 and is anticipated to register CAGR of 8.3% during the global space-based solar power market forecast period.
- The space applications segment is estimated to register the highest CAGR of 8.8% during 2021–2030.
- North America is expected to grow at a CAGR of 9.1% throughout the forecast period.
- In 2020, Asia-Pacific dominated the global space-based solar power market with more than 37.9% of the share, in terms of revenue.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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Waste to Energy Market Advanced Technology and New Innovations by 2027

 Waste to energy is one of the most effective and robust alternative sources of energy, which helps in the reduction of CO2 emissions and thus replaces fossil fuels. Using waste as a combustion substance is expected to reduce landfill volumes by more than 90%. For every ton of waste burned, one ton of CO2 emission is reduced, which further helps in eliminating methane, which could be leaked with landfill disposal.

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Growth in population and rise in landfill levels present numerous opportunities for market expansion. Moreover, the surge in demand for renewable sources of energy globally, an increase in investment by governments, and the usage of other renewable energy sources as substitutes to reduce carbon content is further anticipated to boost the overall growth of the market. However, high costs associated with plant installation and infrastructure of expensive components are expected to hamper the overall industry growth. Several problems are encountered during the construction and development of waste to energy generation plants; one of the major problems is cost. Installing and maintenance of infrastructure to generate energy by burning waste serve as a major challenge, which restrains the growth of the marker. Although the fuel cost is low, maintenance activities represent a big part of the total cost, as it is a new technology.

The market is expected to register the highest growth in biological processes, owing to an increase in technological advancements and a rise in disposable incomes. Furthermore, rapid urbanization and an upsurge in renewable energy sources are expected to boost the market growth.

The incineration segment accounted for around half of the thermal technology segment in 2019, owing to the perennial modifications in the industry and efficient techniques & processes, which are in high demand globally. Thus, an increase in the requirement for high-tech waste to energy conversion methods fuels the market growth globally.

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In 2019, Asia-Pacific and LAMEA collectively accounted for nearly two-fifths share of the global market, in terms of volume, and are expected to continue this waste to energy market trend, owing to an increase in urbanization, specifically in China, India, Brazil, and other developing countries. Moreover, the rise in urban population with increased per capita disposable income and growth in overall consumer spending drive the growth of the Asia-Pacific market.

Impact Of Covid-19 On Global Waste To Energy Market

Continuing the delivery of basic waste management services like waste collection and management has become a major challenge for cities having maximum fallout from COVID-19. Every year around 2 billion metric tons of municipal solid waste are generated. It is estimated that by 2050 annual waste generation will increase by 70-75% to reach 3.4 billion metric tons. As now the world is unlocking halted operations implemented during a pandemic, it is expected government will partner with the private sector through public-private partnerships to discover sustainable solutions.

Key Findings of the Study:

• The incineration segment is anticipated to witness the highest waste to energy market growth during the analysis period and occupied around half of the total thermal technology market in 2019.
• Asia-Pacific is projected to grow with a CAGR of 4.8% during the forecast period.
• Japan occupied around one-third waste to the energy market share of the Asia-Pacific in 2019.
• The North American thermal waste to energy market growth is projected to grow at a CAGR of 4.2%.

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The key players have adopted various market penetration and growth strategies, such as mergers & acquisitions, to strengthen their foothold in the waste-to-energy market size. The key players operating in waste to energy industry include Waste Management Inc., Suez Environment S.A., C&G Environmental Protection Holdings, Constructions industrielles de la Méditerranée (CNIM), China Everbright International Limited, Covanta Energy Corporation, Foster Wheeler A.G., Abu Dhabi National Energy Company PJSC, Babcock & Wilcox Enterprises, Inc., and Veolia Environment.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

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Solar Concentrator Market Advanced Technology and New Innovations by 2031

 Solar concentrators are devices that collect solar radiation and concentrate at a single focal point. The devices are mainly comprised of a series of lens or mirror assemblies, heat receivers, and a tracking system. The performance of the concentrator depends on the intensity of solar radiation, the incident angle of radiation, and its relative position to the sun and the reactor to be heated.

The rising requirement and demand for low-emission energy generation are driving the expansion of the worldwide solar concentrator market. Furthermore, the growth in demand for clean and green energy is propelling the worldwide solar concentrator market throughout the forecast period. Growing environmental concerns and pollution levels are driving up demand for solar concentrators in the global market. Furthermore, economic advancements are influencing the growth and development of the worldwide solar concentrator market.

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Solar concentrators are specially designed for heating fluids which can be directly used for hot water, power generation, or space heating and cooling. Solar thermal power or electric generation systems can collect and concentrate the sunlight to generate high-temperature heat that is required to produce electricity. The shifting preference from fossil fuels to renewable energy sources to mitigate environmental impacts. Likewise, the emergence of solar power as the most sustainable source of renewable energy will also boost the installation of solar thermal power plants worldwide.

The rise in the prominence of solar space heating, coupled with the significant development of testing facilities for solar receiver tubes and other thermal components, is projected to foster the solar thermal market trends. In addition, the introduction of favorable schemes to encourage the installation of solar water heaters and heat pump technologies is projected to further amplify industry expansion in the upcoming years. In 2021, Miriam Dalli, Minister for Energy, Enterprise, and Sustainability in Malta, launched new schemes to encourage consumers to make a switch from conventional geysers to efficient solar water heaters.

The global solar concentrator market is primarily driven due to increase in population and the gradual shift from fossil fuel resources to renewable energy resources has a positive impact on the solar concentrator market. The presence of rapid growth in population and gradual change in lifestyle among the people due to an increase in income has influenced the demand for solar thermal products.

The increase in awareness among the people regarding the advantages of utilization of solar thermal products compared to other products in residential and commercial heating is a major factor driving the market growth. The increase in the investment of the government in developing countries such as India, and China towards renewable energy will boost the demand for the solar concentrator market during the forecast period.

However, the start-up costs of solar thermal energy devices are usually higher because of the greater expense per unit of energy generated. However, solar thermal energy lacks a feedstock demand, which led to increased investment to optimize solar thermal technology. Solar thermal devices cannot generate energy with consistency as most fossil fuels and cannot produce solar energy during cloudy days, or after dark. Hence making it an unreliable source of energy; furthermore, unlike fossil fuels, the energy produced from solar concentrators cannot be easily stored.

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The solar concentrator market forecast is segmented on the basis of type, technology, application, end-use, and region. By type, the market is divided into cylindrical parabolic, paraboloid revolution, and others, By technology, the market is divided into solar power towers, linear concentrating systems, and dish sterling technology. By application, it is divided into electricity generation, heating fluids, and others. By end use, it is divided into residential, commercial, and industrial. By region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

On the basis of type, the paraboloid revolution segment accounted for 55.1% of the solar concentrator market share in 2021 and is expected to maintain its dominance during the forecast period.  Paraboloid revolutions are also known as 3D hubs as they are 3D-printed external light traps on a small solar cell. An external light trap consists of a parabolic concentrator and a spacer that redirects the photons that are reflected by the solar cell back toward the solar cell. Metallic parabolic concentrators with square and hexagonal top shapes can be arranged in an array which will improve the efficiency of power generation in the solar industry.

On the basis of technology, the solar power towers segment accounted for 61.1% of the solar concentrator market share in 2021 and is expected to maintain its dominance during the forecast period. Solar power tower, also known as ‘central tower’ power plant. It is a type of solar furnace using a tower to receive focused sunlight. It uses an array of flat, movable mirrors to focus the sun’s rays upon a collector tower. Early designs used these focused rays to heat water and used the resulting steam to power a turbine.

On the basis of application, the electricity generation segment accounted for 71.4% of the solar concentrator market share in 2021 and is expected to maintain its dominance during the forecast period. Combined heat and power (CHP), also known as cogeneration. The concurrent production of electricity or mechanical power and useful thermal energy (heating and/or cooling) from a single source of energy. It produces power at or close to the end-user site so that the heat released out of power generation can be utilized to meet the user’s heat necessities while power produced meets all or a part of the site’s energy needs.

By end use, it is divided into residential, commercial, and industrial. The industrial segment accounted for the largest revenue share in the global solar concentrator market in 2021. Solar concentrator systems have a wide range of utilization in the industrial sector such as power generation, combined heat and power, chemical industries, paper industries, and others. The presence of demand for hot water or the production of hot water in the above-mentioned industries is the major factor that will lead to the solar concentrator market trends.

Region-wise, Asia-Pacific accounted for the largest market share in the market and is projected to grow at a CAGR of 17.2% during the forecast period, due to rising power tariff prices and dwindling energy supplies. Growing power plants and frequent natural disasters have created tremendous potential prospects for the solar concentrator market opportunities in this region.

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Key Findings of the Study

• As per the solar concentrator market analysis, on the basis of type, the paraboloid revolution segment emerged as the global leader by acquiring more than 55.1% of the solar concentrator market share in 2021 and is anticipated to continue this trend during the forecast period.
• On the basis of technology, the solar power towers segment emerged as the largest market share in 2021 which accounted for 61.1% and is anticipated to continue this trend during the forecast period.
• On the basis of application, the electricity generation segment accounted for 71.4% of the global market share in FY2021.
• On the basis of end-use, the industrial segment accounted for 50.2% of the global market share in FY2021.
• On the basis of region, Asia-Pacific is the major consumer of solar concentrators among other regions. It accounted for around 55.5% of the global market share in 2021.

Competitive Landscape

Key players in the solar concentrator industry are Acciona SA, Abors Green GmbH, Siemens AG, Abengoa Solar GmbH, Trivelli Energia, Bright Source, Solar Reserve, Torresol Energy, Clique Solar, and ACWA Power. These players have adopted various strategies to gain a higher share or retain leading positions in the market.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

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Flow Meter Market Poised to Garner Maximum Revenues during 2019 - 2026

 Flow meters are known for precise metering applications, and hence their use is mostly recommended in process industries. Also, government from various geographies is making the use of flow meters mandatory in process industries by taking into account the benefits associated with flow meters. Water & wastewater and power industries are providing immense growth opportunities to the market due to an increase in investment in plant capacity expansion, and a surge in wastewater generation across the globe. The global flow meter market is expected to explore new growth opportunity during the forecast period as a result of the introduction of technologically advanced flow meters that reduces the need for skilled workers by reducing the overall cost.

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The flow meter is a metering device used in almost every process industry to measure the volume or mass of liquid and gas. A flow meter consists of various components including tube, scale, indicator, coil, and others. Flow meters deal with large flow quantities, and hence their performance is very much dependent on the parameters such as pressure, viscosity, density, and temperature of the fluid.

The global flow meter market is moving toward the maturity phase in its industry life cycle wherein growth opportunities are largely influenced by technological advancement. Development in technology is helping manufacturers to develop technologically advanced new-generation flow meters that aimed to be more user-friendly with better functionalities. Therefore, the need for skilled manpower can be eliminated, reducing the overall cost. Some of the other factors contributing to the global flow meter market growth are the rise in demand for smart and intelligent flow meters and an increase in adoption in industries like power generation, oil & gas, water, and wastewater treatment.

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By type, the differential pressure segment accounted for the largest flow meter market share in 2018. This is highly attributed to its unique function of taking a direct measurements of volume. It is one of the traditional types of flow meter whose applications are seen in almost all types of industries. This makes them easily adaptable and easy to operate. This in turn boosts the demand in the flow meter industry.

By application, the power generation industry emerged as the largest revenue contributor due to the dependency of power generation plants on feed water and hydrocarbon fuels to generate electricity. The flow of such liquids or gases is precisely monitored by thermal flow meters to keep the entire plant operating efficiently while productively generating electricity. As a result, flow meters are regularly utilized in power plants to achieve overall plant efficiency. This leads to greater adoption in the power generation industry.

Some of the major market players operating and profiled in the global flow meter market are Honeywell International Inc., Siemens AG, Emerson Electric Company, ABB Ltd, Schneider Electric SE, Yokogawa Electric Corporation, Azbil Corporation, Badger Meter Inc., Hitachi, Ltd., and KROHNE Messtechnik GmbH.

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Key Findings of the Study:

• By type, differential pressure flow meter emerged as the global leader by acquiring a 29.1% market share in 2018, and it is anticipated to be the largest market during the forecast period
• By end user, power generation is the largest revenue segment over other end users with more than 30% global market share in 2018
• Asia-Pacific is the largest regional market due to strong industrial growth, the presence of emerging economies such as China, India, Japan, and South Korea
• Technological innovation and its incorporation in the flow meter technology is opening up new growth opportunities to the market
• Middle East is expected to be the new investment-centric region due to growing efforts to process seawater through desalination
• Global flow meter market forecast analysis from 2018 to 2026 is included in the report.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

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LNG Bunkering Market to Perceive Substantial Growth during 2027

 The LNG bunkering market is anticipated to witness considerable growth during the forecast period, owing to factors such as IMO regulation on the sulfur content in marine fuel and an increase in gas exploration & production activities. However, the demand-supply gap for LNG bunkering is the key factor restraining the growth of the market in the upcoming years. On the contrary, an increase in attention and utilization of LNG as bunker fuel create opportunities for the key players in LNG bunkering financing.

LNG is an attractive alternative fuel for seagoing vessels and inland vessels, as liquefied natural gas emits fewer polluting substances. LNG is a potential substitute according to IMO emission prerequisites, owing to its negligible sulfur content and low production of NOx contrary to fuel oil and marine diesel oil. LNG is clean burning fuel coupled with financial points of interest on a calorific value basis among other fuels.

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The rise in marine-borne trade has increased the demand for LNG as bunker fuel and LNG bunkering services. Furthermore, an increase in gas exploration and production activities in emerging gas regions drives the growth of the LNG bunkering market as many bunker fuel suppliers changed their focus of operation to these offshore resource sites. In addition, the IMO regulation on sulfur content in marine fuel has forced the shipping industry to focus on new alternatives such as LNG, which is less harmful to the marine environment, which in turn is anticipated to fuel the market growth in the upcoming years. Moreover, growth in opportunities for market players to expand the business of LNG bunkering in emerging economies such as India, Japan, South Korea, and China is expected to provide lucrative opportunities for the growth of the global LNG bunkering market, due to the exploration of untapped hydrocarbon reserves in these oil & gas emerging countries.

Depending on the product type, the ship-to-ship segment held the highest market share of around 60.5% in 2019 and is expected to maintain its dominance during the forecast period. This is due to the rise in the number of ships using LNG due to the need for cleaner fuel in compliance with stringent government regulations to minimize air pollution and preserve sustainability. In addition, due to advantages such as fast transfer operations and a high capacity of 700-7,500 tons, the ship-to-ship LNG bunkering segment is expected to witness substantial revenue growth during the forecast period.

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On the basis of application, the cargo fleet segment holds the largest market share, in terms of revenue, and is expected to grow at a CAGR of 45.4%. This is owing to an increase in demand for cargo transportation through ships and a rise in trade-related agreements. In addition, a rise in the number of manufacturing units and factories in the region such as Asia-Pacific and LAMEA is anticipated to drive the growth of the LNG bunkering market for cargo shipping.

On the basis of the region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe garnered the dominant share in 2019 and is anticipated to maintain this trend during the forecast period. This is attributed to numerous factors such as the presence of a huge consumer base and an increase in maritime trade activities in the region. Moreover, the rise in LNG bunkering infrastructure development activities in the European region is anticipated to contribute toward the growth of the LNG bunkering market in Europe.

The global LNG bunkering market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include Broadview Energy Solutions B.V., Crowley Maritime Corporation, Gasum Oy, Harvey Gulf International Marine, Klaw LNG, Korea Gas Corporation, Polskie LNG S.A., Royal Dutch Shell Plc, SHV Energy, Total SE, PETRONAS, and Exxon Mobil Corporation.

Other players operating in the value chain of the global LNG bunkering industry are ENN Energy Holdings, Ltd., Statoil ASA, Gas Natural Fenosa, Eagle LNG, EVOL LNG, Fjord Line, and others.

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Key Findings Of The Study

• In 2019, the ship-to-ship segment accounted for around 60.5% of the share in the global LNG bunkering market and is expected to maintain its dominance throughout the forecast period.
• In 2019, the cargo fleet segment accounted for 24.8% market share in the year 2019 and is anticipated to grow at a rate of 25.1% in terms of revenue, increasing its share in the global LNG bunkering market.
• Container fleet is the fastest-growing application in the Asia-Pacific LNG bunkering market, expected to grow at a CAGR of 46.2% during 2020–2027.
• Asia-Pacific is expected to grow at the fastest rate, registering a CAGR of 45.9%, throughout the forecast period.
• In 2019, Europe dominated the global LNG bunkering market with more than 39.4% of the share, in terms of revenue.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Agrivoltaics Market Emerging Technological Advancement, Future Scope, and Business Growth 2031

 Agrivoltaics is the concept of combining land development for agricultural and solar photovoltaics. It essentially enables two major sectors to coexist. Agrivoltaics leverages agricultural and renewable energy synergies to produce an economical, effective, and innovative approach to land constraints. Furthermore, agrivoltaics encourage sustainable rural development and biodiversity protection. The agrivoltaics market was valued at $3.6 billion in 2021 and is estimated to reach $9.3 billion by 2031, growing at a CAGR of 10.1% from 2022 to 2031.

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Many experts believe agrivoltaics can minimize barriers to food security and the transition to clean energy. While the agrivoltaics market is still in its growth stage, it is expected to grow as the solar sector continues to boom owing to surged demand for clean energy. Agrivoltaics technology has seen a lot of progress and global dissemination in recent years, with the global installed output of agrivoltaics rising from 5 MW in 2012 to around 2.9 gigawatts (GW) in 2020.

To promote a healthy growth environment for agrivoltaics, subsidies from governing authorities will be required. Moreover, joint ventures, lease agreements, reduced loan rates, and reduced risk exposures. In-addition, since there is a significant reduction in crop yield, strict regulations regarding solar installations need to be enforced for minimizing land exploitation.

Given climate change and increasing droughts and extreme weather events, agrivoltaics offers several advantages such as zero-emission solar power coupled with food production and the protection of crops from drought and damage caused by extreme weather such as hail or heavy rain. The world’s largest agrivoltaics installation has been built on the edge of the Gobi Desert in China, where berries are being cultivated underneath solar modules with an output of 700 MW. The most important drivers for agrivoltaics are land scarcity and increasing drought in many regions as well as technological optimizations and further developments. The prerequisite is to interfere with agricultural use as little as possible and to cooperate closely with farmers for a broader application of agrivoltaics.

Challenges include international standardization, the removal of regulatory hurdles, effective incentive systems, even more, comprehensive monitoring, the even greater involvement of farmers, and further improvements in economic efficiency. While all crops need sunlight for growth, too much can cause some to get stressed, especially cool-season plants such as brassicas. Plants growing under the diffused shade of photovoltaic panels are buffered from the day’s most intense rays. Shade reduces air temperature and the amount of water evaporating from soils; a win-win for both plants and farm workers on hot summer days. The plants in turn give off water vapor that helps to naturally cool the photovoltaic panels from below, which can increase panel efficiency.

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The agrivoltaics market is segmented into system design, cell type, crop, and region. By system design, the agrivoltaics market is bifurcated into fixed solar panels and dynamic. The fixed solar panel segment dominated the market share in 2021 and is projected to continue its dominance through the projection period owing to ease of handling and high-power generation. Moreover, in dynamic systems, the panels are moved or adjusted as and when required which may be a hassle if needed to be done routinely whereas, in fixed panel systems, no such hassle is to be dealt with.

Depending on cell type, the agrivoltaics market is divided into microcrystalline and polycrystalline. The microcrystalline cell type dominated the market growth for 2021 and is expected to grow at a higher CAGR during the projection period owing to the higher efficiency of the cells in commercial models. By crop, the market is segmented into vegetables, fruits, crops, and others. The crop segment dominated the agrivoltaics market growth for 2021 owing to a rise in increasingly extreme weather and solar panels shield crops from too much sun and dehydration. The same is expected to continue its dominance during the projection period followed by the vegetable segment.

Region-wise, the agrivoltaics market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa). North America dominated the market share for 2021 and is expected to grow at a higher CAGR during the forecast period. This is due to a decrease in arable land availability and an increase in clean energy demand to support energy transition. The key players operating in the agrivoltaics industry are Next2Sun, Sun’Agri, Ombrea, Namaste Solar, Mirai Solar, SunSeed APV, Enel Green Power S.p.A., JA SOLAR Technology Co., Ltd., BayWa AG, and Insolight SA.

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Key findings of the study

• Fixed solar panels are projected to grow at the highest CAGR of approximately 10.5%, in terms of during the agrivoltaics market forecast period
• The monocrystalline segment dominated the agrivoltaics market share by over 51.7% in 2021
• By region, North America dominated the agrivoltaics market and is expected to grow at a CAGR of 10.7% during the forecast period

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Industrial Solar Generator Market Estimated to Experience a Hike in Growth By 2030

 A solar generator is a device that, when used in conjunction with solar panels, provides crucial automatic backup power to industries at times when they are most needed, such as during power outages. They come with the option of fixed and mobile structures and have inbuilt storage batteries that store surplus power which can be utilized during non-sunlight hours. Solar generators are also portable but don't include moving components. An inverter, solar panels, a solar panel battery, and a battery charger are the basic components of these systems. The solar panels of a solar generator collect energy from the sun and store it in the generator's built-in battery. The inverter then takes that energy and converts it from DC power to AC power before releasing it. After the energy has been released, power may be utilized in different industrial appliances and/or electronic gadgets when they are most needed, such as during a power outage.

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Due to rising environmental consciousness, government backing, growing industrialization, and lower solar panel prices, Asia-Pacific is anticipated to lead the worldwide industrial solar generator market. Asia-Pacific is the fastest developing market of industrial solar generators with the highest CAGR rate owing to adequate government support, increasing commercial activities regarding renewable energy, and rising investment in developing renewable energy infrastructure in this region.

Solar generators are cost-effective; they require minimum capital to operate, produce no pollution, and may store energy for later use. They are rapidly being deployed for the generation and distribution of power across the globe as a result of these considerations. Due to growing urbanization and population growth, an imbalance between supply and demand for energy has resulted in power shortages in many areas, which solar generators can help to alleviate. Furthermore, the market is impacted by growing worries about climate change, which has raised awareness of the benefits of renewable energy sources like solar, hydro, and wind. Owing to this, governments of various countries are encouraging investments in renewable resources by providing tax relaxations and incentives. These are some of the factors which are driving the demand for industrial solar generators globally. Also, the availability of alternative energy sources for power generation can be a restraint to the growth of the market while increasing government policies on renewable resources by providing tax relaxations and incentives can be considered an industrial solar generator market opportunity. These factors are some of the market trends industrial solar generator market trends.

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The global Industrial solar generator market is segmented on the basis of type, application, and region.

On the basis of Type, the global Industrial solar generator market is segmented into below 40 KWH, 40-80 KWH, 80-150 KWH, and over 150 KWH. The 80-150 KWH segment accounted for the largest share in 2020, while the 40-80 KWH segment is projected to grow at the highest CAGR of 18.0%.

The applications of Industrial solar generators include Electrical Industry, Oil and Gas Industry, and others. The industrial solar generator Market Share in the oil & gas segment accounted for the largest share in 2020, while the Electrical Industry segment is projected to be the fastest-growing segment at a CAGR of 18.2%.

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest share of the market in 2020 as well as was the fastest-growing region.

Major players operating in the global industrial solar generator industry include Juwi, Ameresco, Intech Clean Energy, REC Solar, Jakson Group, Kirchner Solar, Goal Zero LLC, Hollandia Solar, and Altern Limited.

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Key Findings Of The Study

• On the basis of type, the 80-150 KWH segment emerged as the global leader by acquiring more than 36% of the market share in 2020 and is anticipated to continue this trend during the forecast period.
• On the basis of application, the Oil and Gas Industry segment accounted for more than 46% of the global market share in FY 2020.
• On the basis of region, Asia-Pacific is a major market of industrial solar generators among other regions. It accounted for around 39% of the global market share in 2020.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll-Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
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India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com

Liquefied Petroleum Gas Market Predicted to Accelerate Growth by 2021 – 2030

The liquefied petroleum gas market size was valued at $130.1 billion in 2020 and is projected to reach $243.4 billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030. Liquefied petroleum gas (LPG) is obtained from the compression and cooling of two gases named propane and butane, which are formed from oil wells. Liquefied petroleum gas is mostly used as fuel for cooking, heating, and transportation fuel. LPG is non-toxic, non-corrosive, and clean as compared to gasoline.

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Significant development of the end-use industries such as oil & gas, food & beverages, manufacturing, construction, and transportation is fueling the growth of the liquefied petroleum gas market during the forecast period. In addition, advantages associated with liquefied petroleum gas such as clean burning, low maintenance, eco-friendly, and instant heat production are driving the growth of the market, globally. However, disadvantages associated with LPG such as hazards, more consumption, high cost than CNG, higher ignition temperature, and high installation cost of refineries are the key factors hampering the growth of the global market in the upcoming years.

Depending on the source, the non-associated gas segment held the highest market share of about 52.4% in 2020 and is expected to maintain its dominance during the liquefied petroleum gas market forecast period. This is attributed to rising in the production of liquefied petroleum gas from the non-associated gas source, which is extracted from natural gas wells. In addition, a rise in demand for LPG from various domestic and industrial applications is anticipated to fuel the growth of the market from 2021 to 2030.

On the basis of application, the residential segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to the rising in demand for liquefied petroleum gas from residential applications such as space & water heating, cooking, and power generation. In addition, it provides benefits such as cost-effectiveness, energy efficiency, and eco-friendly, which further drive the market growth in the coming years.

Region-wise, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Europe garnered the highest growth rate during the forecast period. This is attributed to the presence of key players and a huge consumer base in the region.

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In addition, liquefied petroleum gas is gaining importance in the construction, food & beverages, manufacturing, residential, agriculture, and transportation industries in the region, owing to government initiatives toward reducing carbon emissions and the aim of the European Union to be climate neutral by 2050, which, in turn, is expected to augment the growth of the liquefied petroleum gas market in Europe during the forecast period.

The global market analysis covers in-depth information of the major liquefied petroleum gas industry participants. The key players operating and profiled in the report include Saudi Arabian Oil Co., China Gas Holdings Ltd., Chevron Corporation, Bharat Petroleum Corporation Limited (BPCL), FLAGA GmbH, Repsol, Kleenheat, Total SE, Reliance Industries Limited, and Exxon Mobil Corporation.

Other players operating in the value chain of the global liquefied petroleum gas market are JGC Holdings Corporation, Royal Dutch Shell Plc., PETRONAS, PetroChina Company Limited, and Qatargas Operating Company Limited.

COVID-19's impact on the market

The global liquefied petroleum gas market has witnessed steady growth in 2020, owing to the outbreak of the COVID-19 pandemic. The outbreak has negatively impacted various industries and countries, thereby decreasing manpower across the globe, which, in turn, decreased consumer spending, and thus declined the demand for liquefied petroleum gas from transportation, domestic, power generation, and other applications. However, owing to the lockdown imposed across the globe, an increase in supply–the demand gap resulted in a halt in the supply of liquefied petroleum gas across the globe. In Europe, economies such as Germany, France, Spain, and Italy were following stringent measures, such as maintaining social distance and limiting movements, to prevent the spread of coronavirus. Moreover, such safety measures have been witnessed across the globe, which further impacted the growth of the global liquefied petroleum gas market.

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Key Findings Of The Study

- In 2020, the non-associated gas segment accounted for about 52.4% of the share in the global LPG market and is expected to maintain its dominance till the end of the forecast period.
- In 2020, the associated gas segment garnered 22.5% liquefied petroleum gas market share in the year 2020 and is anticipated to grow at a rate of 7.0% in terms of revenue.
- Industrial is the fastest growing application segment in the global liquefied petroleum gas market, expected to grow at a CAGR of 8.4% during 2021–2030.
- Europe is expected to grow at the fastest rate, registering a CAGR of 7.5%, throughout the forecast period.
- In 2020, LAMEA dominated the global liquefied petroleum gas (LPG) market with more than 35.9% of the share, in terms of revenue.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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Allied Analytics LLP
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Hydraulic Workover Units Market to Witness Robust Expansion throughout the Forecast Period 2021 – 2031

The hydraulic workover units market size was valued at $7.1 billion in 2021 and is estimated to reach $11.0 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031. A hydraulic workover unit is a piece of equipment that is used to change the drilling fluid or remove debris from a well. This unit can also be used to add or remove the pipe from the well. The importance of this unit is that it helps to keep the well clean and functioning properly. The hydraulic workover unit is a safe, affordable, and adaptable tool primarily used for completing, repairing, and drilling wells throughout the shore. These units serve as an alternative to conventional drilling and workover rigs. The surge in demand for hydraulic workover units during the anticipated period is attributed to an increase in offshore exploration and production (E&P) activities.

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The demand for energy from the various end-user sectors has increased due to population expansion and urbanization. Since hydrocarbons still dominate the majority of power generation, renewable energy is still in the early stages of adoption. The increased drilling and maintenance of wells is driven by the inadequate development of alternative energy sources and the constantly rising demand for oil & gas. This factor is expected to create remunerative opportunities for the expansion of the hydraulic workover unit market in the future.

In addition, increases in deep water discoveries in Africa & Latin America, a rise in U.S. shale gas output, and a surge in Saudi Arabia’s use of crude oil for power generation are major drivers of the demand for global hydraulic workover units. The market for hydraulic workover units is booming as a result of the rising energy consumption in emerging economies. The number of exploration activities, hydraulic fracturing, and well-drilling operations are some additional factors anticipated to drive the global hydraulic workover unit market. Expanding the number of gas fields and increasing the production of modern high oil & gas technology in Kazakhstan are expected to generate opportunities for hydraulic workover units.

Furthermore, the 100-ton Heavy-Duty Hydraulic puller system for large machinery applications poses tough maintenance challenges. This hydraulic bearing puller is ideal for steel mills, mines, oil fields, utility projects, paper mills, construction sites, railroads, airline shops, and shipyards. Factors such as increasing the levels of oil and gas requirements and growing shale gas production activities are driving market growth. Though, stringent environmental laws and an increasing focus on renewable energy are projected to inhibit the growth of the market. Moreover, the rising focus on oil & gas with the implementation of digital technologies provides ample opportunities for market growth.

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The hydraulic workover unit market forecast is segmented on the basis of service, capacity, installation, application, and region. On the basis of service, it is classified into workover and snubbing. By capacity type, the market is categorized as 50 tons, 51 to 150 tons, and above 150 tons. On the basis of installation, it is divided into skid mount and trailer mount. On the basis of application, the market is segregated into onshore and offshore. Region-wise, the market is studied across North America, Europe, Asia-Pacific, And LAMEA.

Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. It is expected that North America dominated the global market in terms of revenue share and is expected to continue its dominance during the forecast period. The growth can be attributed to increasing offshore projects, particularly in US and Canada. Furthermore, a rise in demand for hydraulic fracturing from shale gas reserves is anticipated to drive product demand across this region.

Key players operating in the global hydraulic workover unit market analysis include Ceem Canadian Energy, Key Energy Services LLC, Precision Drilling Corporation, Superior Energy Services, Inc., National Oilwell Varco, Inc., ARCHER, Basic Energy Services, Inc., Cudd Energy Services, High Arctic Energy Services, Inc., Halliburton Inc, Nabors Industries Ltd.

The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investments. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry.

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Key Findings:

- By capacity, the above 150 tons segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.7% from 2022 to 2031.
- By Installation, the trailer mount segment is anticipated to register the highest CAGR of 4.6% during the forecast period.
- By service, workover units witnessed the highest market share during the forecast period registering a CAGR of 4.8%
- By application onshore is anticipated to register the highest growth, in terms of revenue during the forecast period.
- North America garnered the highest hydraulic workover units market share of 36% in 2021, in terms of revenue, growing at a CAGR of 4.1%.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

David Correa
Allied Analytics LLP
+1-800-792-5285
email us here

Liquefied Petroleum Gas Market Predicted to Accelerate Growth by 2021 – 2030

 The liquefied petroleum gas market size was valued at $130.1 billion in 2020 and is projected to reach $243.4 billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030. Liquefied petroleum gas (LPG) is obtained from the compression and cooling of two gases named propane and butane, which are formed from oil wells. Liquefied petroleum gas is mostly used as fuel for cooking, heating, and transportation fuel. LPG is non-toxic, non-corrosive, and clean as compared to gasoline.

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Significant development of the end-use industries such as oil & gas, food & beverages, manufacturing, construction, and transportation is fueling the growth of the liquefied petroleum gas market during the forecast period. In addition, advantages associated with liquefied petroleum gas such as clean burning, low maintenance, eco-friendly, and instant heat production are driving the growth of the market, globally. However, disadvantages associated with LPG such as hazards, more consumption, high cost than CNG, higher ignition temperature, and high installation cost of refineries are the key factors hampering the growth of the global market in the upcoming years.

Depending on the source, the non-associated gas segment held the highest market share of about 52.4% in 2020 and is expected to maintain its dominance during the liquefied petroleum gas market forecast period. This is attributed to rising in the production of liquefied petroleum gas from the non-associated gas source, which is extracted from natural gas wells. In addition, a rise in demand for LPG from various domestic and industrial applications is anticipated to fuel the growth of the market from 2021 to 2030.

On the basis of application, the residential segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to the rising in demand for liquefied petroleum gas from residential applications such as space & water heating, cooking, and power generation. In addition, it provides benefits such as cost-effectiveness, energy efficiency, and eco-friendly, which further drive the market growth in the coming years.

Region-wise, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Europe garnered the highest growth rate during the forecast period. This is attributed to the presence of key players and a huge consumer base in the region.

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In addition, liquefied petroleum gas is gaining importance in the construction, food & beverages, manufacturing, residential, agriculture, and transportation industries in the region, owing to government initiatives toward reducing carbon emissions and the aim of the European Union to be climate neutral by 2050, which, in turn, is expected to augment the growth of the liquefied petroleum gas market in Europe during the forecast period.

The global market analysis covers in-depth information of the major liquefied petroleum gas industry participants. The key players operating and profiled in the report include Saudi Arabian Oil Co., China Gas Holdings Ltd., Chevron Corporation, Bharat Petroleum Corporation Limited (BPCL), FLAGA GmbH, Repsol, Kleenheat, Total SE, Reliance Industries Limited, and Exxon Mobil Corporation.

Other players operating in the value chain of the global liquefied petroleum gas market are JGC Holdings Corporation, Royal Dutch Shell Plc., PETRONAS, PetroChina Company Limited, and Qatargas Operating Company Limited.

COVID-19's impact on the market

The global liquefied petroleum gas market has witnessed steady growth in 2020, owing to the outbreak of the COVID-19 pandemic. The outbreak has negatively impacted various industries and countries, thereby decreasing manpower across the globe, which, in turn, decreased consumer spending, and thus declined the demand for liquefied petroleum gas from transportation, domestic, power generation, and other applications. However, owing to the lockdown imposed across the globe, an increase in supply–the demand gap resulted in a halt in the supply of liquefied petroleum gas across the globe. In Europe, economies such as Germany, France, Spain, and Italy were following stringent measures, such as maintaining social distance and limiting movements, to prevent the spread of coronavirus. Moreover, such safety measures have been witnessed across the globe, which further impacted the growth of the global liquefied petroleum gas market.

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Key Findings Of The Study

- In 2020, the non-associated gas segment accounted for about 52.4% of the share in the global LPG market and is expected to maintain its dominance till the end of the forecast period.
- In 2020, the associated gas segment garnered 22.5% liquefied petroleum gas market share in the year 2020 and is anticipated to grow at a rate of 7.0% in terms of revenue.
- Industrial is the fastest growing application segment in the global liquefied petroleum gas market, expected to grow at a CAGR of 8.4% during 2021–2030.
- Europe is expected to grow at the fastest rate, registering a CAGR of 7.5%, throughout the forecast period.
- In 2020, LAMEA dominated the global liquefied petroleum gas (LPG) market with more than 35.9% of the share, in terms of revenue.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

David Correa
Allied Analytics LLP
+1-800-792-5285
email us here