LPG Vaporizer Market Size Worth $1.37 Billion by 2025 | CAGR: 2.8%: Grand View Research, Inc.
SAN FRANCISCO, Aug. 8, 2019 /PRNewswire/ -- 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.
SAN FRANCISCO, Aug. 8, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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.
Read 63 page research report with TOC on "LPG Vaporizer Market Size, Share & Trends Analysis Report By Product (Direct-Fired, Electric, Steam Bath), By Capacity, By End Use, By Region (North America, Europe, Africa), and Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/lpg-vaporizer-market
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.
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
- Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Italy
- Africa
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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