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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).
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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.
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