France LPG Market To Generate Revenue Worth $9,480.3 Million in 2030
- Published: November 2021
The increasing government incentives and low upfront cost and less storage space required by LPG boilers are the major growth drivers for the France LPG market. Due to the aforementioned factors, the industry is projected to generate $9,480.3 million revenue by 2030, advancing at a CAGR of 2.1% during 2020–2030.
In 2020, France was left abandoned, as the pandemic-induced lockdowns grounded air traffic and reduced international and local travel for both leisure and business globally, thereby inflicting economic losses of over $70.2 billion (EUR 60.0 billion). According to the Secretary of State for Tourism, the tourism sector was down by 41.0%, thus causing a shortfall of $74.6 billion (EUR 61.0 billion). In the first seven months of 2020, there was a 66.0% drop in arrivals and a 50.0% drop in tourism revenue. The diminution in tourism activities had a negative impact on the use of vehicles and of heating systems in hotels, which, in turn, impacted the French LPG market negatively.
Bulk Category To Hold Larger Share throughout Forecast Period
The France LPG market is categorized into bulk and bottled, on the basis of product type. Of these, the bulk category dominated the market during the historical period (2015–2020), and it is expected to retain its dominance during the forecast period. This will mainly be due to the versatile nature of LPG for homes. It is rather portable, being stored and transported in tanks as a liquid, and used as a gas when needed.
Moreover, the France market for LPG is categorized into industrial, domestic, and transport, under segmentation by application. Out of these, the industrial category is expected to witness the fastest growth during the forecast period. This will be because this fuel is widely used at hotels and in the metallurgical, steel & iron, textile, tea, and poultry sectors.
Acquisitions and Product Launches Are Most-Effective Strategic Measures Taken by Market Players
The major players operating in the France LPG industry are DCC plc, Rubis SCA, Primagaz, and Antargaz. Major players in the market are adopting acquisitions and launches for an upper hand. For instance, in July 2020, Primagaz launched a 13-kg bottle of biopropane 20%, a 100% renewable gas, via 12,000 points of sale across France.