PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1399777
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1399777
According to SPER Market Research, 'Europe BioLPG Market Size- By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Europe BioLPG Market is estimated to reach a volume of 2249.87 KMT by 2033 with CAGR of 19.72%.
Plant and vegetable waste is the source of bio-propane, or bio-LPG, a sustainable replacement for traditional LPG. Comparing this environmentally beneficial fuel to traditional fossil fuels like petrol, it reduces overall carbon footprint by minimising damaging petrol emissions. The compatibility of LPG and bioLPG with current LPG equipment and products is made possible by their similar compositions.
In Europe, the bioLPG market has been greatly affected by the COVID-19 outbreak. Implementation of BioLPG has slowed significantly due to lockdowns, supply chain problems, and economic uncertainty. In addition to the economic slump influencing investment decisions, reduced industrial operations and travel restrictions have an impact on demand. By raising awareness of environmental sustainability, the pandemic has also perhaps stoked interest in BioLPG as a renewable energy source.