The North America, Europe, and Africa LPG vaporizer market size is
expected to reach USD 1.37 billion by 2025, according to a new report by Grand
View Research, Inc. The regional markets together are anticipated to witness a
CAGR of 2.8% over the forecast period. Increasing demand for the equipment for
efficient vaporization particularly in industrial applications is expected to
have a positive impact on the market growth.
The LPG vaporizer market in North America,
Europe, and Africa is characterized by the presence of major industry
participants catering to various industrial, commercial, and agricultural
applications. The North American market comprises several manufacturing
companies with widespread distribution network around the world. The market is
majorly driven by commercial applications of liquefied petroleum gas which
includes hotels, resorts, and restaurants.
The regulatory trends observed by industry
participants are primarily in terms of manufacturing codes or policies by
several governing bodies including the National Fire Protection Association
(NFPA) and American Society of Mechanical Engineers (ASME). Owing to the local
regulations and safety concerns, the usage of underground storage tanks has
been widespread. These tanks generally utilize the vaporizers, since
underground tanks cannot absorb heat during natural vaporization from its
surroundings.
Electric vaporizer was the dominant product
segment in 2017 amounting for over 39% of the market share in terms of value in
North America. Ability of the equipment to reach around 80% efficiency along
with varied utilization in multiple industries has led to high penetration in
the region.
The Europe direct-fired vaporizer market is
expected to register a growth rate of 2.3% over the projected period. The most
significant advantage of this product category is the utilization of LPG as the
source of energy which makes it cost effective and preferred choice for
small-scale applications.
Access
Research Report of LPG Vaporizer Market@ https://www.grandviewresearch.com/industry-analysis/lpg-vaporizer-market
Further key findings from the report suggest:
· Medium capacity equipment-ranging from 168
to 455 gal/hr-accounted for the highest share in terms of value in most
countries. The segment is expected to exceed USD 21 million by 2025 in Africa
· Industrial was the largest and fastest
growing application segment in the market, while accounting for over 68% of the
total market share in terms of revenue in 2017 in Germany
· U.S. emerged as the major contributing
country for North America in 2017 and accounted for over 76% of total regional
market share in terms of revenue
· Some of the major companies manufacturing
and distributing the equipment in the North America, Europe, and Africa LPG
vaporizer market include Standby Systems Inc., Algas-SDI, Pegoraro Gas
Technologies Srl, and Ransome Gas Industries Inc.
Grand View Research has segmented the North
America, Europe, and Africa LPG vaporizer market on the basis of product,
capacity, end use, and region:
LPG Vaporizer Product Outlook (Revenue, USD
Million, 2014 - 2025)
·
Direct Fired
·
Electric
·
Steam Bath
LPG Vaporizer Capacity Outlook (Revenue,
USD Million, 2014 - 2025)
·
40-160 gal/hr
·
168-455 gal/hr
·
555-1005 gal/hr
·
>1000 gal/hr
LPG Vaporizer End-use Outlook (Revenue, USD
Million, 2014 - 2025)
·
Industrial
·
Commercial
·
Agriculture
·
Others
Regional Outlook (Revenue, USD Million,
2014 - 2025)
·
North America
·
Europe
·
Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research
reports, customized research reports, and consulting services. To help
clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
