NEW YORK, Nov. 22, 2021 /PRNewswire/ — From $7,691.2 million in 2020, the French liquefied petroleum gas market revenue is set to witness a 2.1% CAGR between 2020 and 2030, to reach $9,480.3 million by 2030. The biggest factor driving the demand for this product is the low upfront cost of LPG boilers. For instance, an air-source heat pump (ASHP) costs almost thrice as much as an LPG boiler.
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Apart from this, the French government’s support for cleaner vehicles, especially those powered by LPG (Autogas) either solely or in conjunction with an electric motor (Autogas–electric hybrid), is propelling the market forward. Under the new scheme, automobiles that emit less than 60 grams of carbon dioxide per kilometer receive financial support.
Key Findings of France LPG Market Report
- Most of the LPG in France is sourced from refineries because they process crude oil and natural gas in high volumes.
- Industrial applications will witness the highest CAGR in the French LPG market in the coming years on account of LPG’s surging usage in space and process heating, powering industrial ovens and forklifts, producing food, as fuel in kilns and furnaces, and manufacturing packaging materials.
- In France, the gas is majorly sold in bulk because of its constant, high-volume requirement for agriculture, cooking, and transportation.
- On account of the movement restrictions and massive tourism slump, the COVID-19 pandemic hampered the sale of LPG in the country.
- The rising awareness on the lower greenhouse gas (GHG) emissions from LPG compared to gasoline and diesel is a key trend in the industry.
- Another strong reason for the rising demand for this gas is that the boilers fired by it take less space.
Browse detailed report on France LPG Market Analysis and Growth Forecast to 2030
The presence of just four major players has made the French LPG market highly consolidated in nature. As a result, to stay on top of the competition, providers of this fuel are engaging in acquisitions and product launches. For instance, Antargaz acquired Redéo Énergies in July 2021 to widen its product portfolio. Other than Antargaz, the key companies in the industry are DCC plc, Rubis SCA, and Primagaz.
France LPG Market Segmentation Analysis
France LPG Market Based on Source
- Associated Gas
- Non-Associated Gas
France LPG Market Based on Application
France LPG Market Based on Product Type
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