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France LPG Market Growth Driven by Low Upfront Cost of LPG Boilers

08-24-2022 03:16 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

France LPG Market Growth Driven by Low Upfront Cost of LPG Boilers

A number of factors such as the low upfront cost and less storage space required by LPG boilers and the massive government support toward new energy vehicles will help the French LPG market demonstrate a CAGR of 2.1% between 2020 and 2030. According to P&S Intelligence, the market was valued at $7,691.2 million in 2020, and it will generate $9,480.3 million revenue by 2030. Additionally, the rising public awareness regarding environmental pollution will also propel the demand for LPG in France.

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The low upfront cost of LPG boilers is one of the primary growth drivers of the French LPG market. As compared to an electric heat pump or automatic-fed biomass boiler, an LPG boiler is available at a very low cost. Additionally, the upfront cost of LPG boilers is also lower than air source heat pumps. In addition, the easy storage of LPG is also a key contributor to the industry growth, as wood chip fuel and wood pellet storage requires minimum ventilation standards for preventing off-gassing or buildup of toxic gases.

The industrial category, under the industrial segment, is expected to demonstrate the fastest growth in the French LPG market throughout this decade. This will be on account of the increasing use of LPG for space and process heating, powering forklifts, manufacturing packaging materials, food production, and powering industrial ovens. In addition, a high volume of LPG is also being used as fuel in furnaces and kilns. The wide application base of LPG in the industrial sector can be credited to the high calorific value of this gas. It is primarily used in applications, including cooking, hot air balloons, agriculture, and transportation (Autogas).

Furthermore, the bulk category, within the product type segment, generated the highest revenue in the French LPG industry in the years gone by. The dominance of this category is credited to the versatile nature of LPG for homes. Bulk LPG is more portable than bottled variant and is being stored and transported in tanks as a liquid. Owing to these reasons, bulk LPG can be utilized as and when required in the country.

Browse full report at: https://www.psmarketresearch.com/market-analysis/france-lpg-market

At present, the French LPG industry is consolidated in nature, due to the presence of four dominant players, namely Antargaz, Rubis SCA (Vitogaz), Primagaz, and DCC plc (Butagaz). In recent years, these players have been adopting different strategic measures, including product launches and acquisitions, to stay ahead of their competitors in the market. For example, in July 2021, Antargaz acquired Redéo Énergies as part of its ongoing efforts to expand the portfolio of its multi-energy offerings. With this move, Antargaz aims at introducing a new solution that combines green energy and local production.

Therefore, the low upfront cost of LPG boilers and the low storage space required for LPG gas are the key contributors to the market growth in France.

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P&S Intelligence
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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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