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Global LPG Vaporiser Market to Grow at a CAGR of 3.5% During 2022-2027, Aided by the Rising Use of Liquified Petroleum Gas

According to a new report by EMR titled, ‘Global LPG Vaporiser Market Report and Forecast 2022-2027’, the global LPG vaporiser industry is expected to grow in the forecast period of 2022-2027 at a CAGR of 3.55%, aided by the increase in industrial and commercial applications.

North America holds a significant share of the LPG vaporiser industry owing to the increasing use of alternative energy in the region. The growing demand for LPG as a fuel for equipment used in industrial and commercial applications is increasing the deployment of LPG vaporiser, hence driving the market growth. The robust growth of the agricultural industry in the United States is leading to a surge in use of LPG for heating of greenhouse and livestock, thus bolstering the growth of the LPG vaporiser industry. The extensive use of LPG in the residential sector owing to its cost-effectiveness and high-efficiency is surging the demand for LPG vaporisers to prevent the loss of the gas, which is propelling the market growth. In addition, the growing deployment of LPG vaporisers in the transportation sector in countries like Canada and United States are significantly contributing to the growth of the market.

TransTech Energy, Inc., one of the leading companies in the market, acquired a majority ownership of Energyneering Solutions, Inc. in September 2021. The acquisition extends the company’s capabilities of biogas engineering, construction, maintenance, and operations, to expand its footprint in the market for renewable energy. The acquisition is expected to enable the access of the consumers to state-of-the-art fabrication and application capacities while bolstering flexibility and efficiency. This also boosts the company’s presence in predictive maintenance monitoring and enhance the development of high-quality solutions for biogases. Such partnerships are expected to increase the deployment of liquified petroleum gas (LPG), which is anticipated to provide impetus to the growth of the LPG vaporiser industry. LPG vaporisers find their applications in various power generation companies such as Adani Green Energy Ltd (NSE: ADANIGREEN).

Market Analysis by Product, Capacity, End Use, and Region:

  • The market, on the basis of product, can be divided into direct fired, electric, and steam bath.
  • Based on capacity, the industry can be divided into 40-160 gal/h, 168-455 gal/h, 555-1005 gal/h, and >1000 gal/h.
  • The end-uses of LPG vaporiser include industrial, commercial, and agriculture, among others.
  • The regional markets for LPG vaporiser include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising use of LPG vaporisers in the agricultural industry owing to the growing costs of fossil fuels is aiding the market growth.
  • The market is being driven by the extensive use of direct fired LPG vaporisers in various heating applications in the commercial, industrial, and agricultural sectors.
  • The increasing use of LPG vaporisers to provide reliable and energy-efficient fuel supply in industrial applications is augmenting the market growth.
  • The development of innovative LPG vaporisers with diverse capacities and enhanced safety is propelling the growth of the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for LPG vaporiser for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the products, capacities, end uses, and major regions of LPG vaporiser.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global LPG vaporiser market are Standby Systems, Inc, Alternate Energy Systems, Inc., TransTech Energy, Inc., Kagla Vaportech Corporation, and ITO Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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