Liquid Petroleum Gas Market was valued at USD 163 Billion in 2022 and is projected to reach USD 188 Billion by 2030, growing at a CAGR of 2.8% from 2024 to 2030.
The global Liquid Petroleum Gas (LPG) market was valued at approximately USD 130 billion in 2022 and is projected to witness a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2023 to 2030. The market is primarily driven by rising demand for cleaner energy alternatives, as LPG emits fewer carbon emissions compared to coal or oil. Additionally, governments worldwide are promoting LPG usage for residential, commercial, and industrial applications, boosting the market’s overall growth. Regions like Asia-Pacific, especially China and India, accounted for a significant share of the market in 2022 due to rapid urbanization and increased consumption of LPG in households and transportation.
Emerging markets offer lucrative growth opportunities as they continue to transition toward cleaner fuel options. The increasing adoption of LPG in developing countries, driven by supportive government policies and growing consumer awareness about environmental sustainability, is expected to fuel market expansion. In particular, countries in Africa and Southeast Asia are witnessing substantial growth in the demand for LPG, making them key contributors to the global market landscape. The expanding use of LPG in autogas applications and its growing role as an alternative to traditional fuels present new opportunities for investors and stakeholders in the industry.
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Saudi Aramco
Sinopec
ADNOC
CNPC
Exxon Mobil
KNPC
Phillips66
Bharat Petroleum
Pemex
TotalEnergies
Qatar Petroleum
Equinor
BP
Gazprom
Chevron
ConocoPhillips Company
SHV Energy (NL)
Valero Energy
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Liquid Petroleum Gas Market
Residential
Commercial Business
Chemical Industry
Agriculture & Farming
Transportation
Others
Based on Types the Market is categorized into Below types that held the largest Liquid Petroleum Gas market share In 2023.
Propane
Butane
Mix
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Liquid Petroleum Gas Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Liquid Petroleum Gas Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Liquid Petroleum Gas Market, By Type
6. Global Liquid Petroleum Gas Market, By Application
7. Global Liquid Petroleum Gas Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Liquid Petroleum Gas Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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