Market Size of United States Propane Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
US Propane Market Analysis
During the time frame of the forecast, the US propane market is expected to grow at a CAGR of more than 5%.
During the COVID-19 pandemic, the U.S. propane market had challenges with supply chains; there was more demand for home heating, and demand for commercial and industrial use went down. But as soon as the pandemic was over and the economy reopened, the market started to improve and is estimated to reach a pre-pandemic level in 2023.
- The increasing demand from the residential and transportation sectors has driven market growth.
- But the harmful effects of propane at higher concentrations are likely to keep the studied market from growing.
- Propane usage in power generation will likely provide opportunities for the US propane market over the next five years.
- Residential is the most dominant end-user segment of the market studied.
