Growing consumption of LPG on account of government policies is expected to increase the usage of clean fuel and rising awareness regarding the environmental impact of carbon emission are the major factors driving the market in the 2017-2027.
According to TechSci Research report,Dubai LPG Market-By Region, Competition Forecast Opportunities, 2017-2027theDubai LPG Marketis expected to register robust growth during the forecast period, 2022-2027.The Dubai LPG Market is expected to grow in the forecast period since government are taking indicatives to get cleaner energy usage. For heating and cooking purposes, LPG has gained the status of conventional fuels such as wood and coal in the commercial and residential sectors. The DubaiLPG industry, however, is on the rise owing to its many benefits, including ease of accessibility, non-toxicity, cleanliness, convenience, portability, and cost-effectiveness compared to alternative fuels.
The increase in marine trade is expected to be driven by the construction of petrochemical projects (propane dehydrogenation project [PDH] and steam crackers) and new assembly plants. Additionally, several LPG-producing facilities in the UAE are expected to start new projects for the exploration and production of gas. Gas exports are likely to increase, bringing up new business opportunities. For Instance,in November 2015, Sheikh Mohammed launched Dubai Clean Energy Strategy. Under this strategy,Dubai plans to produce 75% of its energy requirements from clean sources by 2050.The strategy also aims to make Dubai a global clean energy center and a green economy.
The United Arab Emirates introduced "Energy Policy 2050" in 2017, considered the nation's first comprehensive supply-and-demand-driven energy strategy. The strategy intends to save AED 700 billion by 2050 and boost the share of renewable energy in the whole energy mix from 25% to 50%. It also aspires to lower the carbon footprint of power generation by 70%. Additionally, it aims to improve corporate and individual consumption efficiency by 40%. People are inclined towards LPG usage due to which market is growing during the forecast period.
The product's high flammability significantly constraints the LPG market. As a result, it is kept in large spherical or cylindrical pressure tanks. The gas' burning also results in higher storage, transportation, and distribution expenses carried on to end-users. The market is also significantly impacted by the crude oil feedstock's fluctuating price, which prevents market expansion.
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Dubai LPG Marketis segmented on the basis ofapplication, source, and cylinder capacity. Based on application, the market is segmented intoresidential,industrial, agriculture, transportation, and commercial. With a market share of 47.02%, the residential segment isdominating the market. Public services and subsidies that promise to promote the product as a feasible substitute for conventional fuels such as coal and wood have been a major factor in the segment's growth. Liquefied petroleum gas is also replacing chlorofluorocarbon and hydrofluorocarbon as a refrigerant since it minimizes ozone depletion. This has led to more prospects for application in the residential and commercial sectors, particularly in the fields of heating and ventilation in addition to cooking.
Based on source, the market is divided into the refinery, associated gas, and non-associated gas. The non-associated gas segment is leading the market with a share of 46.59% during the forecast period.
Based on cylinder capacity, the market is divided into 5kg, 11-12.6kg, 13-14.2kg, 15-16.5kg, 19-29.5kg, and more than 29.5Kg. The 19-29.5kg, segment is leading the market with a market share of 32.42%. 19-29.5kg capacity cylinder is mainly used in the residential and commercial sectors.
Key market players in theDubai LPG Market: -
- Emirates Gas LLC (Emirates National Oil Company),
- Emirates General Petroleum Corporation (EMARAT),
- ADNOC Distribution, Brothers Gas,
- Dubai Oil Gas Company LLC,
- United Gas Company LLC,
- AD LPG,
- LOOTAH BC
- Dubai Fuel Supply
- Smart Gas
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" Adoption of green energy and rising awareness of less carbon emission in Dubai are the factors influencing the government to utilize the benefits and facility of liquefied petroleum gas due to which now several projects are going on in the market, owing to which the market is expected to grow during the forecast period." said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Dubai LPG Market ByApplication (Residential,Agriculture, Transportation, Commercial), By Source (Refinery, Associated Gas,Non-Associated Gas), By Cylinder Capacity (5kg, 11-12.6kg, 13-14.2kg, 15-16.5kg, 19-29.5kg, More Than 29.5Kg),By Region, Competition Forecast Opportunities, 2017-2027has evaluated the future growth potential ofDubai LPG Marketand provides statistics information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in theDubai LPG Market.
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