LPG [Liquefied petroleum gas] Market by End User (Domestic, Commercial, Agriculture, Industrial, Transport, Refinery Fuel, Chemical), by Source (Natural Gas Liquid, Crude Oil), by By Geography (North America), by Europe (U.K., Germany, France, Italy, Spain, Netherlands, Russia, Rest of Europe), by Asia Pacific (China, Japan, India, Australia, Southeast Asia, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Rest of Latin America), by Middle East and Africa (GCC, South Africa, Rest of the Middle East and Africa) Forecast 2024-2032
The LPG [Liquefied petroleum gas] Market size was valued at USD 128.48 USD Billion in 2023 and is projected to reach USD 185.66 USD Billion by 2032, exhibiting a CAGR of 5.4 % during the forecast period.LPG also known as autogas, cooking gas, or co-field, is a flexible, mobile, and nearly sulfur-free fuel that is produced from natural gas and crude oil. It is made of propane mainly but also contains butane in smaller quantities. LPG is in the gaseous state at normal pressure and temperature but undergoes compression to liquefied petroleum gas for easier storage and transportation; this makes it well-suited for domestic, industrial, and automotive uses. This gas is widely used in stoves for cooking, space heating, water heaters, and vehicles as a means of transport in regions with no access to pipeline natural gas. LPG comes in different blends and for various uses, whether for domestic or commercial purposes. It plays a role in reducing air pollution and greenhouse gases in the atmosphere when compared to other fossil fuels, which is environmentally friendly. Moreover, its instant combustion, higher thermal value and other attributes make it a cheap form of energy that has numerous economic benefits to users across the world.
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This report provides a comprehensive analysis of the global LPG market. It includes detailed insights into the market size, growth drivers, challenges, and trends. The report also provides a segmentation analysis of the market based on end user and source. Additionally, it profiles leading players in the market and highlights significant developments in the sector.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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