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Liquefied Petroleum Gas (LPG) Storage Market Trends

Report ID: GMI6601
Published Date: Aug 2023
Report Format: PDF

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LPG Storage Market Trends

The market is experiencing significant growth owing to stringent regulation and safety standards. Continuous investments by the public and private players in advanced storage technologies including emergency response protocols and leak detection system to ensure safe storage and transportation will complement the business scenario. Increasing LPG consumption in line with expansion of storage infrastructure development will proliferate the industry dynamics. Growing demand for larger tank and underground storage in conjunction with advanced material, monitoring systems, and digitalization technology systems will augment the industry outlook.

Authors: Ankit Gupta, Abhishek chopra

Frequently Asked Questions (FAQ) :

Liquefied Petroleum Gas Storage industry was valued USD 81.25 billion in 2022 and is anticipated to excel at a CAGR of 1.2% through 2032, backed by the ongoing transition toward clean fuels.

The pressurized tanks segment is projected to surpass over USD 80 billion by 2032 as these tanks are designed to maintain LPG in its liquid state under pressure, enabling its high energy density and ease of transportation.

North America LPG storage market will account for over USD 45 billion by 2032, owing to abundant availability of shale gas and increased LPG production in the region.

SHV Energy, Suburban Propane, AmeriGas Propane, Inc., Flogas, Petredec Pte Limited, PT Pertamina (Persero), Emirates Gas, Energy Transfer LP, McDermott, TransTech Energy, LLC, VTTI, OMERA LPG, and Oiltanking GmbH among others.