LPG Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Source (Refinery, Associated Gas, and Non-associated Gas), By Supply Mode (Packaged, Bulk and On-site), By Application (Residential, Commercial, Agriculture, Industrial, Transportation and Others), By Region and Competition, 2020-2030F
The Global LPG Market, valued at USD 129.60 Billion in 2024, is projected to experience a CAGR of 8.01% to reach USD 205.77 Billion by 2030. Liquefied Petroleum Gas (LPG) is a flammable mixture of hydrocarbon gases, predominantly propane and butane, utilized as a versatile fuel source across various sectors. This product is derived from natural gas processing and crude oil refining, then stored and transported in a liquid state under moderate pressure. The global LPG market's expansion is primarily supported by the increasing global demand for cleaner energy alternatives, rising urbanization, and substantial government initiatives promoting its adoption in residential and commercial applications.
Key Market Drivers
The increasing global emphasis on cleaner energy solutions constitutes a primary driver for the expansion of the LPG market. As nations strive to reduce carbon emissions and mitigate air pollution, LPG presents a viable and immediate alternative to traditional polluting fuels such as wood, coal, and kerosene in various applications. Its cleaner burning properties contribute to improved air quality and reduced greenhouse gas emissions, aligning with global sustainability objectives. This shift is particularly evident in the growing sector of renewable liquid gas production.
Key Market Challenges
Infrastructure constraints represent a substantial impediment to the global LPG market's expansion, particularly within developing regions. Insufficient storage facilities, underdeveloped distribution networks, and inadequate transportation systems restrict the efficient supply and accessibility of LPG. These limitations create logistical bottlenecks, leading to increased operational costs for market participants and directly hampering the market by impeding the delivery of LPG to potential consumers and businesses.
Key Market Trends
Technological Advancements in Autogas Systems and Infrastructure represent a significant trend driving the global LPG market. Innovations focus on enhancing engine efficiency and reducing emissions, making autogas a more competitive and environmentally sound transportation fuel. According to the World Liquid Gas Association, global LPG consumption in the transportation sector reached 25.45 million tonnes in 2022, with approximately 28 million autogas-consuming vehicles registered worldwide.
Key Market Players
In this report, the Global LPG Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies presents in the Global LPG Market.
Available Customizations:
Global LPG Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Key Market Drivers
The increasing global emphasis on cleaner energy solutions constitutes a primary driver for the expansion of the LPG market. As nations strive to reduce carbon emissions and mitigate air pollution, LPG presents a viable and immediate alternative to traditional polluting fuels such as wood, coal, and kerosene in various applications. Its cleaner burning properties contribute to improved air quality and reduced greenhouse gas emissions, aligning with global sustainability objectives. This shift is particularly evident in the growing sector of renewable liquid gas production.
Key Market Challenges
Infrastructure constraints represent a substantial impediment to the global LPG market's expansion, particularly within developing regions. Insufficient storage facilities, underdeveloped distribution networks, and inadequate transportation systems restrict the efficient supply and accessibility of LPG. These limitations create logistical bottlenecks, leading to increased operational costs for market participants and directly hampering the market by impeding the delivery of LPG to potential consumers and businesses.
Key Market Trends
Technological Advancements in Autogas Systems and Infrastructure represent a significant trend driving the global LPG market. Innovations focus on enhancing engine efficiency and reducing emissions, making autogas a more competitive and environmentally sound transportation fuel. According to the World Liquid Gas Association, global LPG consumption in the transportation sector reached 25.45 million tonnes in 2022, with approximately 28 million autogas-consuming vehicles registered worldwide.
Key Market Players
- Saudi Arabian Oil Company (Saudi Aramco)
- Exxon Mobil Corporation
- Shell plc
- BP International Limited
- Chevron Corporation
- TotalEnergies SE
- Petroliam Nasional Berhad (PETRONAS)
- Phillips 66 Company
In this report, the Global LPG Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- LPG Market, By Source:
- Refinery
- Associated Gas
- Non-associated Gas
- LPG Market, By Supply Mode:
- Packaged
- Bulk
- On-site
- LPG Market, By Application:
- Residential
- Commercial
- Agriculture
- Industrial
- Transportation
- Others
- LPG Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Company Profiles: Detailed analysis of the major companies presents in the Global LPG Market.
Available Customizations:
Global LPG Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. PRODUCT OVERVIEW
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. EXECUTIVE SUMMARY
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. VOICE OF CUSTOMER
5. GLOBAL LPG MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Source (Refinery, Associated Gas, Non-associated Gas)
5.2.2. By Supply Mode (Packaged, Bulk, On-site)
5.2.3. By Application (Residential, Commercial, Agriculture, Industrial, Transportation, Others)
5.2.4. By Region
5.2.5. By Company (2024)
5.3. Market Map
6. NORTH AMERICA LPG MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Source
6.2.2. By Supply Mode
6.2.3. By Application
6.2.4. By Country
6.3. North America: Country Analysis
6.3.1. United States LPG Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Source
6.3.1.2.2. By Supply Mode
6.3.1.2.3. By Application
6.3.2. Canada LPG Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Source
6.3.2.2.2. By Supply Mode
6.3.2.2.3. By Application
6.3.3. Mexico LPG Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Source
6.3.3.2.2. By Supply Mode
6.3.3.2.3. By Application
7. EUROPE LPG MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Source
7.2.2. By Supply Mode
7.2.3. By Application
7.2.4. By Country
7.3. Europe: Country Analysis
7.3.1. Germany LPG Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Source
7.3.1.2.2. By Supply Mode
7.3.1.2.3. By Application
7.3.2. France LPG Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Source
7.3.2.2.2. By Supply Mode
7.3.2.2.3. By Application
7.3.3. United Kingdom LPG Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Source
7.3.3.2.2. By Supply Mode
7.3.3.2.3. By Application
7.3.4. Italy LPG Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Source
7.3.4.2.2. By Supply Mode
7.3.4.2.3. By Application
7.3.5. Spain LPG Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Source
7.3.5.2.2. By Supply Mode
7.3.5.2.3. By Application
8. ASIA PACIFIC LPG MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Source
8.2.2. By Supply Mode
8.2.3. By Application
8.2.4. By Country
8.3. Asia Pacific: Country Analysis
8.3.1. China LPG Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Source
8.3.1.2.2. By Supply Mode
8.3.1.2.3. By Application
8.3.2. India LPG Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Source
8.3.2.2.2. By Supply Mode
8.3.2.2.3. By Application
8.3.3. Japan LPG Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Source
8.3.3.2.2. By Supply Mode
8.3.3.2.3. By Application
8.3.4. South Korea LPG Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Source
8.3.4.2.2. By Supply Mode
8.3.4.2.3. By Application
8.3.5. Australia LPG Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Source
8.3.5.2.2. By Supply Mode
8.3.5.2.3. By Application
9. MIDDLE EAST & AFRICA LPG MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Source
9.2.2. By Supply Mode
9.2.3. By Application
9.2.4. By Country
9.3. Middle East & Africa: Country Analysis
9.3.1. Saudi Arabia LPG Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Source
9.3.1.2.2. By Supply Mode
9.3.1.2.3. By Application
9.3.2. UAE LPG Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Source
9.3.2.2.2. By Supply Mode
9.3.2.2.3. By Application
9.3.3. South Africa LPG Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Source
9.3.3.2.2. By Supply Mode
9.3.3.2.3. By Application
10. SOUTH AMERICA LPG MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Source
10.2.2. By Supply Mode
10.2.3. By Application
10.2.4. By Country
10.3. South America: Country Analysis
10.3.1. Brazil LPG Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Source
10.3.1.2.2. By Supply Mode
10.3.1.2.3. By Application
10.3.2. Colombia LPG Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Source
10.3.2.2.2. By Supply Mode
10.3.2.2.3. By Application
10.3.3. Argentina LPG Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Source
10.3.3.2.2. By Supply Mode
10.3.3.2.3. By Application
11. MARKET DYNAMICS
11.1. Drivers
11.2. Challenges
12. MARKET TRENDS & DEVELOPMENTS
12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments
13. GLOBAL LPG MARKET: SWOT ANALYSIS
14. PORTER'S FIVE FORCES ANALYSIS
14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products
15. COMPETITIVE LANDSCAPE
15.1. Saudi Arabian Oil Company (Saudi Aramco)
15.1.1. Business Overview
15.1.2. Products & Services
15.1.3. Recent Developments
15.1.4. Key Personnel
15.1.5. SWOT Analysis
15.2. Exxon Mobil Corporation
15.3. Shell plc
15.4. BP International Limited
15.5. Chevron Corporation
15.6. TotalEnergies SE
15.7. Petroliam Nasional Berhad (PETRONAS)
15.8. Phillips 66 Company
16. STRATEGIC RECOMMENDATIONS
17. ABOUT US & DISCLAIMER
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. EXECUTIVE SUMMARY
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. VOICE OF CUSTOMER
5. GLOBAL LPG MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Source (Refinery, Associated Gas, Non-associated Gas)
5.2.2. By Supply Mode (Packaged, Bulk, On-site)
5.2.3. By Application (Residential, Commercial, Agriculture, Industrial, Transportation, Others)
5.2.4. By Region
5.2.5. By Company (2024)
5.3. Market Map
6. NORTH AMERICA LPG MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Source
6.2.2. By Supply Mode
6.2.3. By Application
6.2.4. By Country
6.3. North America: Country Analysis
6.3.1. United States LPG Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Source
6.3.1.2.2. By Supply Mode
6.3.1.2.3. By Application
6.3.2. Canada LPG Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Source
6.3.2.2.2. By Supply Mode
6.3.2.2.3. By Application
6.3.3. Mexico LPG Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Source
6.3.3.2.2. By Supply Mode
6.3.3.2.3. By Application
7. EUROPE LPG MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Source
7.2.2. By Supply Mode
7.2.3. By Application
7.2.4. By Country
7.3. Europe: Country Analysis
7.3.1. Germany LPG Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Source
7.3.1.2.2. By Supply Mode
7.3.1.2.3. By Application
7.3.2. France LPG Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Source
7.3.2.2.2. By Supply Mode
7.3.2.2.3. By Application
7.3.3. United Kingdom LPG Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Source
7.3.3.2.2. By Supply Mode
7.3.3.2.3. By Application
7.3.4. Italy LPG Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Source
7.3.4.2.2. By Supply Mode
7.3.4.2.3. By Application
7.3.5. Spain LPG Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Source
7.3.5.2.2. By Supply Mode
7.3.5.2.3. By Application
8. ASIA PACIFIC LPG MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Source
8.2.2. By Supply Mode
8.2.3. By Application
8.2.4. By Country
8.3. Asia Pacific: Country Analysis
8.3.1. China LPG Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Source
8.3.1.2.2. By Supply Mode
8.3.1.2.3. By Application
8.3.2. India LPG Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Source
8.3.2.2.2. By Supply Mode
8.3.2.2.3. By Application
8.3.3. Japan LPG Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Source
8.3.3.2.2. By Supply Mode
8.3.3.2.3. By Application
8.3.4. South Korea LPG Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Source
8.3.4.2.2. By Supply Mode
8.3.4.2.3. By Application
8.3.5. Australia LPG Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Source
8.3.5.2.2. By Supply Mode
8.3.5.2.3. By Application
9. MIDDLE EAST & AFRICA LPG MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Source
9.2.2. By Supply Mode
9.2.3. By Application
9.2.4. By Country
9.3. Middle East & Africa: Country Analysis
9.3.1. Saudi Arabia LPG Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Source
9.3.1.2.2. By Supply Mode
9.3.1.2.3. By Application
9.3.2. UAE LPG Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Source
9.3.2.2.2. By Supply Mode
9.3.2.2.3. By Application
9.3.3. South Africa LPG Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Source
9.3.3.2.2. By Supply Mode
9.3.3.2.3. By Application
10. SOUTH AMERICA LPG MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Source
10.2.2. By Supply Mode
10.2.3. By Application
10.2.4. By Country
10.3. South America: Country Analysis
10.3.1. Brazil LPG Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Source
10.3.1.2.2. By Supply Mode
10.3.1.2.3. By Application
10.3.2. Colombia LPG Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Source
10.3.2.2.2. By Supply Mode
10.3.2.2.3. By Application
10.3.3. Argentina LPG Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Source
10.3.3.2.2. By Supply Mode
10.3.3.2.3. By Application
11. MARKET DYNAMICS
11.1. Drivers
11.2. Challenges
12. MARKET TRENDS & DEVELOPMENTS
12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments
13. GLOBAL LPG MARKET: SWOT ANALYSIS
14. PORTER'S FIVE FORCES ANALYSIS
14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products
15. COMPETITIVE LANDSCAPE
15.1. Saudi Arabian Oil Company (Saudi Aramco)
15.1.1. Business Overview
15.1.2. Products & Services
15.1.3. Recent Developments
15.1.4. Key Personnel
15.1.5. SWOT Analysis
15.2. Exxon Mobil Corporation
15.3. Shell plc
15.4. BP International Limited
15.5. Chevron Corporation
15.6. TotalEnergies SE
15.7. Petroliam Nasional Berhad (PETRONAS)
15.8. Phillips 66 Company
16. STRATEGIC RECOMMENDATIONS
17. ABOUT US & DISCLAIMER
