Liquefied Petroleum Gas (LPG) Market: Statistics 2023-2028: Size, Share, Trends and Research Report

According to the latest report by IMARC Group, titled “Liquefied Petroleum Gas (LPG) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,”The global liquefied petroleum gas (LPG) market size reached a US$ 134.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 170.3 Billion by 2028, exhibiting a CAGR of 3.6% during 2023-2028.

Liquefied petroleum gas (LPG) is an odorless, colorless, flammable gas, which is formulated with a blend of butane, ethane, ethylene, propane, and volatile hydrocarbons. It is extensively deployed in automobiles, centralized heating solutions, chemical feedstock, and hot water systems. The LPG gasses are also utilized as a vaporized charge and refrigerant for supplanting chlorofluorocarbons (CFCs) in order to protect the ozone layer.

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Global Liquefied Petroleum Gas (LPG) Market Trends:

Rising environmental consciousness represents one of the primary factors driving the global market growth. In line with this, LPG is used as an effective alternative to fossil fuels, which is contributing to its widespread utilization across industries. Additionally, significant growth in the automotive industry is creating a positive outlook for the market. Since LPG is used as an autogas in the automotive industry for reducing carbon emissions, this is acting as a major growth-inducing factor. Other factors, such as the implementation of various government initiatives to promote the usage of LPG, are driving the market toward growth further.

Global Liquefied Petroleum Gas (LPG) Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Bharat Petroleum Corporation Limited, BP P.L.C., Chevron Corporation, China Gas Holdings Ltd., Exxon Mobil Corporation, Origin Energy Limited, Petroliam Nasional Berhad, Phillips 66 Company, Repsol S.A., Royal Dutch Shell PLC and Valero Energy Corporation.

The report has segmented the market on the basis on region, source, application and supply mode.

Breakup by Source:

Breakup by Application:

Breakup by Supply Mode:

Breakup by Region:

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