Global Liquefied Petroleum Gas (LPG) Market to Grow at 3.32% During 2025-2033, Impelled by Growing Environmental Consciousness Among Masses

January 03, 2025 | Energy & Mining

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According to the latest report by IMARC Group, titled "Liquefied Petroleum Gas (LPG) Market Report by Source (Refinery, Associated Gas, Non-Associated Gas), Application (Residential, Commercial, Refinery and Petrochemical, Transportation, and Others), Supply Mode (Packaged, Bulk and On-site), and Region 2025-2033," the global liquefied petroleum gas (LPG) market size reached USD 144.8 Billion in 2024. Liquified petroleum gas (LPG) is a flammable mixture of hydrocarbon gases that includes propane and butane. It is considered to be a clean and efficient source of energy that is portable and commonly used as fuel across various application segments. It is obtained during the process of oil and natural gas production and is liquefied through pressurization. It is stored and supplied in canisters, cylinders and bulk storage tanks for various domestic and industrial applications. It is extensively being utilized as the preferred energy source across the chemical, automotive and manufacturing sectors.

Global Liquefied Petroleum Gas (LPG) Market Trends:

The market is primarily driven by the increasing environmental consciousness among the masses. The rising concerns regarding carbon emissions and growing pollution levels across the globe have led to the increasing adoption of clean energy sources by individuals. This, coupled with the escalating popularity of LPG as the preferred alternative to fossil fuels, is providing a thrust to the market growth. Moreover, the growing requirement of LPG as auto emission gas in the automotive sector is acting as a major growth-inducing factor. The market is further driven by the numerous initiatives undertaken by the government of various countries to promote the use of LPG. They are launching favorable policies and offering subsidies and tax concessions to suppliers in an attempt to increase its uptake significantly. They are also undertaking initiatives to spread awareness and educate the rural population regarding the importance of substituting traditional sources of energy, such as coal, wood and kerosene, with LPG. The considerable improvements in the extraction and refining technologies for natural gases are also creating a positive outlook for the market. Some of the other factors contributing to the market growth include rising population, rapid urbanization and the increasing production of nonconventional gases. Looking forward, the market value is projected to reach USD 197.3 Billion by 2033, expanding at a CAGR of 3.32% during 2025-2033.

Market Summary:

On the basis of the source, the market has been divided into refinery, associated gas and non-associated gas.
Based on the application, the market has been classified into residential, commercial, refinery and petrochemical, transportation, and others.
On the basis of the supply mode, the market has been bifurcated into packaged, and bulk and on-site.
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Bharat Petroleum Corporation Limited, bp p.l.c., Chevron Corporation, China Gas Holdings Limited, Exxon Mobil Corporation, Origin Energy Limited, Petroliam Nasional Berhad, Phillips 66 Company, Repsol S.A., Royal Dutch Shell plc, and Valero Energy Corporation.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Source, Application, Supply Mode, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Bharat Petroleum Corporation Limited, BP P.L.C., Chevron Corporation, China Gas Holdings Ltd., Exxon Mobil Corporation, Origin Energy Limited, Petroliam Nasional Berhad, Phillips 66 Company, Repsol S.A., Royal Dutch Shell PLC and Valero Energy Corporation
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Liquefied Petroleum Gas (LPG) Market to Grow at 3.32% During 2025-2033, Impelled by Growing Environmental Consciousness Among Masses

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