Liquefied Petroleum Gas Market

Detailed market report on the liquefied petroleum gas market, featuring industry analysis, size, and forecast from 2025 to 2030.

The Report Covers Global LPG Production, Share & Industry Analysis and It is Segmented by Source of Production (Crude Oil and Natural Gas Liquids), Applications (Residential, Commercial & Industrial, Auto Fuels, and Others), and Geography (North America, South America, Europe, Asia-Pacific, and Middle-East and Africa). The Report Offers the Market Size and Forecasts for the Liquefied Petroleum Gas in Revenue (USD Billion) for all the Above Segments.

LPG Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Liquefied Petroleum Gas (LPG) Market Size

Liquefied Petroleum Gas Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
CAGR 5.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Liquefied Petroleum Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Liquefied Petroleum Gas Market with other markets in Energy & Power Industry

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Liquefied Petroleum Gas (LPG) Market Analysis

The Liquefied Petroleum Gas Market is expected to register a CAGR of greater than 5% during the forecast period.

COVID-19 negatively impacted the market in 2020. Presently the market has reached pre-pandemic levels.

  • Over the long term, the increasing consumption of LPG on account of government initiatives to increase the usage of cleaner fuel projects is expected to drive the market.
  • On the other hand, the problem in LPG storage and their non-continuous supply is expected to hinder the market's growth.
  • Nevertheless, the increasing demand for LPG by the growing population and increasing focus on emission control is expected to create enormous opportunities for the liquefied petroleum gas market.
  • North America dominates the market due to increased usage of LPG in recent years.

Liquefied Petroleum Gas (LPG) Industry Overview

The liquefied petroleum gas market is moderately fragmented. The key players in the LPG market (in no particular order) include BP PLC, Exxon Mobil Corporation, Abu Dhabi National Oil Company (ADNOC), Indian Oil Corporation Ltd, and Sinopec Corp, among others.

Liquefied Petroleum Gas (LPG) Market Leaders

  1. BP Plc.

  2. Sinopec Corp.

  3. Abu Dhabi National Oil Company (ADNOC)

  4. Exxon Mobil Corporation

  5. Indian Oil Corporation Ltd.

  6. *Disclaimer: Major Players sorted in no particular order
Liquefied Petroleum Gas Market Concentration
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Liquefied Petroleum Gas (LPG) Market News

  • In October 2022, Maire Tecnimont S.p.A. announced that its principal subsidiary, Tecnimont S.p.A., was awarded an EPC contract by SONATRACH's Direction Centrale Engineering & Project Management for the execution of an LPG extraction plant within the existing Rhourde El Baguel oil and gas treatment complex in northeastern Algeria. The total contract value is around USD 380 million.
  • In February 2022, Indian Oil Corp. (IOC) announced plans to construct three new plants in Northeast India to increase its LPG bottling capacity by nearly 53% or to 8 crore cylinders annually by 2030 to meet the growing demand in the region. The total investment in the plant expansion is likely to range between USD 43- 46 million.

Liquefied Petroleum Gas (LPG) Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast, in USD billion, till 2028
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Source of Production
    • 5.1.1 Crude Oil
    • 5.1.2 Natural Gas Liquids
  • 5.2 Application
    • 5.2.1 Residential
    • 5.2.2 Commercial & Industrial
    • 5.2.3 Autofuels
    • 5.2.4 Other Applications
  • 5.3 Geography [Market Size and Demand Forecast till 2028 (for regions only)]
    • 5.3.1 North America
    • 5.3.1.1 United States
    • 5.3.1.2 Canada
    • 5.3.1.3 Rest of North America
    • 5.3.2 Europe
    • 5.3.2.1 Norway
    • 5.3.2.2 Netherlands
    • 5.3.2.3 United Kingdom
    • 5.3.2.4 Germany
    • 5.3.2.5 Rest of Europe
    • 5.3.3 Asia-Pacific
    • 5.3.3.1 China
    • 5.3.3.2 India
    • 5.3.3.3 South Korea
    • 5.3.3.4 Japan
    • 5.3.3.5 Rest of Asia-Pacific
    • 5.3.4 Middle East and Africa
    • 5.3.4.1 Saudi Arabia
    • 5.3.4.2 Qatar
    • 5.3.4.3 South Africa
    • 5.3.4.4 Rest of Middle East and Africa
    • 5.3.5 South America
    • 5.3.5.1 Brazil
    • 5.3.5.2 Argentina
    • 5.3.5.3 Chile
    • 5.3.5.4 Rest of South America

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 BP PLC
    • 6.3.2 Exxon Mobil Corporation
    • 6.3.3 ConocoPhillips
    • 6.3.4 Abu Dhabi National Oil Company (ADNOC)
    • 6.3.5 QatarEnergy
    • 6.3.6 Novatek PAO
    • 6.3.7 Gazprom PJSC
    • 6.3.8 China Petroleum & Chemical Corporation
    • 6.3.9 Indian Oil Corporation Ltd
    • 6.3.10 Reliance Gas
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Liquefied Petroleum Gas (LPG) Industry Segmentation

Liquefied petroleum gas is a combustible mixture of hydrocarbon gases, including propane, propylene, butylene, isobutane, and n-butane. LPG is a fuel gas that is used in heating appliances, cooking equipment, and automobiles. It is called liquefied gas because it is easily transformed into a liquid.

The liquefied petroleum gas market is segmented by the source of production, application, and geography. By source of production, the market is segmented into crude oil and natural gas liquids. By applications, the market is segmented into residential, commercial & industrial, auto fuels, and others. The report also covers the market size and forecasts for the liquified petroleum gas market across major regions (North America, South America, Europe, Asia-Pacific, and Middle-East and Africa). For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

Source of Production Crude Oil
Natural Gas Liquids
Application Residential
Commercial & Industrial
Autofuels
Other Applications
Geography [Market Size and Demand Forecast till 2028 (for regions only)] North America United States
Canada
Rest of North America
Europe Norway
Netherlands
United Kingdom
Germany
Rest of Europe
Asia-Pacific China
India
South Korea
Japan
Rest of Asia-Pacific
Middle East and Africa Saudi Arabia
Qatar
South Africa
Rest of Middle East and Africa
South America Brazil
Argentina
Chile
Rest of South America
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Liquefied Petroleum Gas (LPG) Market Research FAQs

What is the current Liquefied Petroleum Gas Market size?

The Liquefied Petroleum Gas Market is projected to register a CAGR of greater than 5% during the forecast period (2025-2030)

Who are the key players in Liquefied Petroleum Gas Market?

BP Plc., Sinopec Corp., Abu Dhabi National Oil Company (ADNOC), Exxon Mobil Corporation and Indian Oil Corporation Ltd. are the major companies operating in the Liquefied Petroleum Gas Market.

Which is the fastest growing region in Liquefied Petroleum Gas Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Liquefied Petroleum Gas Market?

In 2025, the North America accounts for the largest market share in Liquefied Petroleum Gas Market.

What years does this Liquefied Petroleum Gas Market cover?

The report covers the Liquefied Petroleum Gas Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Liquefied Petroleum Gas Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

LPG Industry Report

The global liquefied petroleum gas (LPG) market is expected to see significant growth driven by increasing LPG production and the rising adoption of clean and green energy sources. The market outlook is positive with a compound annual growth rate anticipated. This growth is fueled by increasing awareness about the benefits of using LPG as a substitute for fossil fuels and technological advancements in LPG production. Additionally, government initiatives to educate rural populations about the benefits of switching from traditional cooking fuels to LPG are also boosting the market.

Despite the high cost of installation related to liquefaction process equipment and technology, the market analysis indicates that the demand for LPG is expected to rise. Significant market growth is forecasted in regions such as Africa, Asia Pacific, and Central & South America due to the increasing population and the use of LPG as a cooking fuel. The increasing demand for LPG in the commercial and residential sectors for heating and cooking applications is also expected to benefit the market.

The industry analysis highlights that the market size and market share are driven by the applications in residential, commercial & industrial, and auto fuels sectors. The market report also suggests that the industry trends are influenced by the growing need for cleaner energy solutions. The market leaders in the LPG industry are focusing on expanding their production capabilities and investing in new technologies to stay competitive.

The industry outlook remains strong with a market forecast that predicts continued growth. The market segmentation by source of production, applications, and geography provides a comprehensive view of the industry. The market value is expected to increase as more consumers and businesses adopt LPG as a viable energy source.

The report pdf available for download offers detailed market data, market overview, and market predictions. This industry research provides valuable insights into the market growth and industry statistics, helping stakeholders make informed decisions. The report example includes industry reports, industry sales, and industry size information, making it a valuable resource for anyone interested in the LPG market.

In summary, the LPG market is poised for growth with a positive market outlook and strong industry trends. The market review and market segmentation provide a clear picture of the opportunities and challenges in the industry. The industry information and research companies involved in this sector are expected to play a crucial role in driving the market forward.