What Will be the Upcoming Trends of the LPG Vaporizer Market?
17-Jan-2020: The LPG vaporizer
market size in North America, Europe, and Africa is
expected to reach USD 1.37 billion by 2025, according to a new report by Grand
View Research, Inc. The regional markets together are anticipated to witness a
CAGR of 2.8% over the forecast period. Increasing demand for the equipment for
efficient vaporization particularly in industrial applications is expected to
have a positive impact on the market growth.
The LPG vaporizer
market in North America, Europe, and Africa is characterized by the presence of
major industry participants catering to various industrial, commercial, and
agricultural applications. The North American market comprises several
manufacturing companies with widespread distribution network around the world.
The market is majorly driven by commercial applications of liquefied petroleum
gas which includes hotels, resorts, and restaurants.
The regulatory
trends observed by industry participants are primarily in terms of
manufacturing codes or policies by several governing bodies including the
National Fire Protection Association (NFPA) and American Society of Mechanical
Engineers (ASME). Owing to the local regulations and safety concerns, the usage
of underground storage tanks has been widespread. These tanks generally utilize
the vaporizers, since underground tanks cannot absorb heat during natural
vaporization from its surroundings.
Electric vaporizer
was the dominant product segment in 2017 amounting for over 39% of the market
share in terms of value in North America. Ability of the equipment to reach
around 80% efficiency along with varied utilization in multiple industries has
led to high penetration in the region.
The Europe
direct-fired vaporizer market is expected to register a growth rate of 2.3%
over the projected period. The most significant advantage of this product
category is the utilization of LPG as the source of energy which makes it cost
effective and preferred choice for small-scale applications.
In
depth research report on LPG Vaporizer Market
Further key findings from the report suggest:
·
Medium capacity equipment-ranging from 168 to 455
gal/hr-accounted for the highest share in terms of value in most countries. The
segment is expected to exceed USD 21 million by 2025 in Africa
·
Industrial was the largest and fastest growing application
segment in the market, while accounting for over 68% of the total market share
in terms of revenue in 2017 in Germany
·
U.S. emerged as the major contributing country for North
America in 2017 and accounted for over 76% of total regional market share in
terms of revenue
·
Some of the major companies manufacturing and distributing
the equipment in the North America, Europe, and Africa LPG vaporizer market
include Standby Systems Inc., Algas-SDI, Pegoraro Gas Technologies Srl, and
Ransome Gas Industries Inc.
Grand View Research
has segmented the LPG vaporizer market in North America, Europe, and Africa on
the basis of product, capacity, end use, and region:
LPG Vaporizer Product Outlook (Revenue, USD Million, 2014 -
2025)
·
Direct Fired
·
Electric
·
Steam Bath
LPG Vaporizer Capacity Outlook (Revenue, USD Million, 2014 -
2025)
·
40-160 gal/hr
·
168-455 gal/hr
·
555-1005 gal/hr
·
>1000 gal/hr
LPG Vaporizer End-use Outlook (Revenue, USD Million, 2014 -
2025)
·
Industrial
·
Commercial
·
Agriculture
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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