Albany, New York: Favorable Propane Infrastructure Allowing Increased Number of Fuel Stations
Robust infrastructure facilities are the main foundation for the efficient delivery of any fuel. Since the propane infrastructure is well established in the U.S., most consumers are able to locate fuel stations within close proximity to refuel their vehicles.
Stakeholders in the propane market are eyeing the U.S. to build several propane stations to cater to the growing needs of consumers. The process of propane production, storage, and distribution is easily made available for market players in the U.S. With not much of initial investment, market players are capable of building several propane stations, just by investing in the fuel dispensing equipment, including storage tanks, pumps, and card readers at the stations.
A lot of suppliers in the U.S. offer budget-friendly leasing of tanks, dispensing equipment, and pumps in return for a fuel supply contract. On the other hand, market players can place propane dispensers alongside diesel, gasoline, and other fuel dispensers, since the infrastructure needed for propane is similar to these other fuels.
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Community Propane Systems Increasingly Used in Upmarket Residential Townships of the U.S.
Since the residential sector accounts for the highest market share of ~43% for propane-based applications, market players are providing innovative offerings to consumers. For example, builders and developers in Texas, U.S., are offering community propane systems to property buyers. Using community propane systems instead of individual tanks helps builders in creating more space for designing driveways, swimming pools, septic tanks, and other value-add amenities in large township projects. Thus, with the help of centralized propane distribution, buyers can use gas systems just like natural gas in cases when a natural gas station is not present in close proximity.
Upmarket residential neighborhoods in the U.S. lack access to natural gas. Developers build propane tanks outside the entry gates to these communities to avoid the barreling of individual tanks inside the community. To simplify the process, propane companies bill homeowners according to their usage, who need not pay upfront during the time of delivery. As such, propane companies are building strategic ties with upmarket home-developing companies to arrive at profitable barter transactions. Home-developing companies agree to build propane gas infrastructure at their own expense, and propane companies agree to set up propane appliances. Along with centralized propane distribution, homeowners are also rewarded with propane-fueled water heaters, gas cooktops, and cloth dryers.
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Portable V/S Standby Generators: A Dilemma for Consumers
Portable generators serve as a budget-friendly option for consumers to buy and install at home. When a portable generator is connected with a home’s circuit-breaker panel, it generates power that is as good as a standby generator. These also have built-in outlets for easy connection with extension wires in the absence of a transfer switch.
However, when portable generators run out of fuel, they need to be wheeled out and connected to a transfer switch. On the other hand, standby generators do not require huge quantities of fuel, and serve as a sustainable option during a power outage. Although standby generators cost more, they provide gold-standard backup power and sustain well during natural calamities.
Overall, both, portable and standby generators use propane, gasoline, and diesel to function. Thus, power and cost price is the dilemma in reality for consumers.
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The information shared in this review is based on a TMR report, bearing the title, “Propane Market (Application: Residential, Commercial, Chemicals & Refineries, Industrial, Transportation, and Agriculture) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027”
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The global Propane market is segmented based on:
Propane Market by Application
Propane Market by Region
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