LPG Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Source, By Supply Mode, By Application, By Region and Competition, 2020-2030F

Description

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:

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

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:

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