Infinium Global Research Propane Market Global Industry Analysis Trends Mar | Page 3

Market Insights
The global Propane market was sized over USD 122.53 billion in 2015. The
global Propane market is projected to grow with a CAGR between 3.0% and
3.5% during 2017-2023 and reach USD 148.72 billion by 2023. Rising
demand of liquefied propane gas from increasing consumers globally and
increasing preference of consumers due to lower cost of propane as compare
to other fuel substitutes are the key factors driving the global propane
market.
Segments Covered:
The report segments the Propane market by application and by region. Market
segmentation based on application includes residential, commercial,
industrial, agricultural, chemical & refinery and transportation. Moreover,
residential sub segment is accounted to be the largest application sub
segment and is likely to lead the global propane market due to non-toxicity of
propane and less emission of carbon during combustion.
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