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France LPG Market Analysis and Growth Forecasts 2021-2030 - Opportunities for Fuel Switching to Drive Decarbonization of Industrial, Commercial and Agricultural Sectors - ResearchAndMarkets.com

·3-min read

DUBLIN, January 24, 2022--(BUSINESS WIRE)--The "France LPG Market Research Report - Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

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.

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. 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.

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 Redeo Energies in July 2021 to widen its product portfolio. Other than Antargaz, the key companies in the industry are DCC plc, Rubis SCA, and Primagaz.

Market Dynamics

Trends

  • Environmental Consciousness Regarding the Benefits of Using LPG

Drivers

  • Increasing Government Incentives

  • Low Upfront Cost and Less Storage Space Required by LPG Boiler

  • Impact Analysis of Drivers On Market Forecast

Restraints

  • Growing Popularity of Electric Vehicles

  • High Maintenance Cost of LPG Vehicles

  • Impact Analysis of Restraints On Market Forecast

Opportunities

  • Switching To LPG To Drive Decarbonization

Impact of COVID-19

Value Chain Analysis

France - The Need of LPG

  • Opportunities For Fuel Switching To Drive Decarbonization of Industrial, Commercial and Agricultural Sectors

  • France Legislates To Transition To a Net-Zero Economy by 2050

Porter Five Forces Analysis

Policy and Regulatory Landscape

Pricing Mechanism Analysis

  • Subsidies

  • Price Ceiling

Total Number of Lpg Refueling Point

Company Profiles

  • DCC plc

  • Rubis SCA

  • Primagaz

  • Antargaz

For more information about this report visit https://www.researchandmarkets.com/r/gp18qw

View source version on businesswire.com: https://www.businesswire.com/news/home/20220124005386/en/

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