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.
Environmental Consciousness Regarding the Benefits of Using LPG
Increasing Government Incentives
Low Upfront Cost and Less Storage Space Required by LPG Boiler
Impact Analysis of Drivers On Market Forecast
Growing Popularity of Electric Vehicles
High Maintenance Cost of LPG Vehicles
Impact Analysis of Restraints On Market Forecast
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
Total Number of Lpg Refueling Point
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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