Product Code: 22594
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.
| Market Overview |
| Forecast Period | 2026-2030 |
| Market Size 2024 | USD 129.60 Billion |
| Market Size 2030 | USD 205.77 Billion |
| CAGR 2025-2030 | 8.01% |
| Fastest Growing Segment | Bulk |
| Largest Market | Middle East & Africa |
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
Report Scope:
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:
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
Competitive Landscape
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).
Table of Contents
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
- 5.2. 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
- 6.2. 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
- 6.3.1.2. 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
- 6.3.2.2. 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
- 6.3.3.2. 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
- 7.2. 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
- 7.3.1.2. 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
- 7.3.2.2. 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
- 7.3.3.2. 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
- 7.3.4.2. 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
- 7.3.5.2. 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
- 8.2. 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
- 8.3.1.2. 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
- 8.3.2.2. 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
- 8.3.3.2. 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
- 8.3.4.2. 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
- 8.3.5.2. 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
- 9.2. 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
- 9.3.1.2. 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
- 9.3.2.2. 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
- 9.3.3.2. 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
- 10.2. 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
- 10.3.1.2. 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
- 10.3.2.2. 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
- 10.3.3.2. 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