According to the TechSci Research report, the Dubai LPG market is expected to experience significant growth in the forecast period of 2022-2027. The government's initiatives to promote cleaner energy usage have contributed to this growth. LPG has become a preferred fuel for heating and cooking purposes in both the commercial and residential sectors, as it is accessible, non-toxic, clean, convenient, portable, and cost-effective compared to other fuels.
The increase in marine trade is being driven by the construction of petrochemical projects, such as the propane dehydrogenation project (PDH) and steam crackers, as well as new assembly plants. Moreover, several LPG-producing facilities in the UAE are expected to initiate new projects for gas exploration and production, leading to increased gas exports and new business opportunities.
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For instance, in November 2015, Sheikh Mohammed launched the Dubai Clean Energy Strategy, with the goal of producing 75% of Dubai's energy requirements from clean sources by 2050. This strategy aims to make Dubai a global clean energy center and a green economy. Additionally, the United Arab Emirates introduced the "Energy Policy 2050" in 2017, which 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 aims to reduce the carbon footprint of power generation by 70% and improve corporate and individual consumption efficiency by 40%.
The LPG market is constrained by the product's high flammability, which requires large spherical or cylindrical pressure tanks for storage. The market is also impacted by the fluctuating price of crude oil feedstock, hindering market expansion.
The Dubai LPG market is segmented based on application, source, and cylinder capacity. The residential segment dominates the market with a market share of 47.02%, owing to public services and subsidies that promote LPG as a feasible substitute for conventional fuels such as coal and wood. LPG is also replacing chlorofluorocarbon and hydrofluorocarbon as a refrigerant, leading to more opportunities for application in the residential and commercial sectors, particularly in the fields of heating and ventilation, in addition to cooking.
Based on source, the non-associated gas segment leads the market with a share of 46.59% during the forecast period. Based on cylinder capacity, the 19-29.5kg segment leads the market with a market share of 32.42%, mainly used in the residential and commercial sectors.
Key market players in the Dubai 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 By Application (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, 2017-2027 has evaluated the future growth potential of Dubai LPG Market and 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 the Dubai LPG Market.
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