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Rising trend in the adoption of Liquefied Petroleum Gas (LPG) over conventional fuels such as coal and wood, notably in both residential and commercial sectors. This transition is largely fueled by a growing recognition of LPG's environmental advantages, such as diminished carbon emissions and lessened air pollution. Furthermore, the growth of LPG distribution networks, especially in rural and previously neglected urban locales, is propelling the increased use of LPG for cooking and heating. Both governmental bodies and private enterprises are channeling investments into the expansion of LPG infrastructure, aiming to broaden its accessibility.
The market size of Latin America LPG valves and accessories was worth over USD 302 million in 2023 and is anticipated to register 3.6% CAGR between 2024 to 2032, owing to increasing demand for AI-integrated valves.
Latin America LPG valves and accessories industry from the cooking segment held 33% revenue share in 2023, due to increasing LPG adoption in residential and commercial kitchens.
Cameron International Corporation (Schlumberger), Cavagna Group S.p.A., Emerson Electric Co., Flowserve Corporation, and GOK Regler- und Armaturen-Gesellschaft mbH & Co. KG, among others.
Brazil LPG valves and accessories industry size held 30% revenue share in 2023 due to its extensive LPG usage across residential, commercial, and industrial sectors.