Research report finds propane market expected to reach USD 145.82 billion by 2022
According to a recent study published by Transparency Market Research, the global propane market was valued at USD 114.44 billion in 2013 and is likely to reach USD 145.82 billion by 2022, expanding at a CAGR of 3.56% between 2014 and 2022. The research group defined and segmented the propane market into six types of applications: residential, commercial, industrial, chemical & materials, agricultural and transportation, providing analysis and forecast of the global revenue. The residential segment dominated the global propane market in 2013. Stringent environmental regulations and less reliable conventional gas sources are expected to be major growth drivers for the propane market in residential applications. Demand for propane as a fuel in the marine industry is expected to grow gradually owing to the introduction…
According to a recent study published by Transparency Market Research, the global propane market was valued at USD 114.44 billion in 2013 and is likely to reach USD 145.82 billion by 2022, expanding at a CAGR of 3.56% between 2014 and 2022. The research group defined and segmented the propane market into six types of applications: residential, commercial, industrial, chemical & materials, agricultural and transportation, providing analysis and forecast of the global revenue. The residential segment dominated the global propane market in 2013.
Stringent environmental regulations and less reliable conventional gas sources are expected to be major growth drivers for the propane market in residential applications. Demand for propane as a fuel in the marine industry is expected to grow gradually owing to the introduction of strict environmental norms that compel the usage of clean fuels. Propane emits nearly zero sulfur content and nitrogen oxide during combustion as compared to marine diesel oil.
Browse the full Propane Market by Application report at
http://www.transparencymarketresearch.com/propane-market.htmlOUR DIGITAL PARTNERS
