Press release
Liquefied Petroleum Gas Market is projected to reach USD 151.42 Billion by 2030 : Cognitive Market Research
Liquefied Petroleum Gas Market is projected to reach USD 151.42 Billion by 2030 : Cognitive Market Research
- Liquefied Petroleum Gas (LPG) is a flammable gas that is commonly used as a fuel for heating, cooking, and in some cases, as a transportation fuel. LPG is a mixture of hydrocarbon gases, primarily propane, and butane, that is stored under pressure as a liquid in a cylinder or tank. LPG is highly portable and is often used in areas where natural gas pipelines are not available. It is also a cleaner-burning fuel than many other fossil fuels, producing fewer emissions of harmful pollutants and greenhouse gases. As a result, LPG is widely used in residential, commercial, and industrial settings, and is an important energy source in many parts of the world.
Summary:
- The Global Liquefied Petroleum Gas Market size was valued at USD 114.97 Billion in 2022 and will reach USD 151.42 Billion by 2030, at a CAGR of 3.6% during the forecast period (2023-2030).
"To know more about The Liquefied Petroleum Gas Market statistics click here: https://www.cognitivemarketresearch.com/liquefied-petroleum-gas-market-report
Market Dynamics
- The increasing demand for liquefied petroleum gas (LPG) from developing countries is anticipated to drive the global liquefied petroleum gas market. In addition to this, rapid urbanization and industrialization worldwide are driving market growth. Moreover, government initiatives and various policies promoting the use of LPG as a cleaner-burning fuel which is expected to open new avenues for market growth. These policies include tax incentives, subsidies, and regulations aimed at reducing emissions and improving air quality.
Market Segmentation:
Source
• Refinery
• Associated Gas
• Non-Associated Gas
The non-associated gas segment held the largest share among the segments in 2022 owing to the rising usage of LPG for domestic and industrial applications.
Application
• Residential/Commercial
• Chemical
• Industrial
• Autogas
• Refinery
• Others
Based on the application, the chemical application segment is projected to register the fastest growth during the forecast period. The LPG properties its versatility, efficiency, availability, and cost-effectiveness are impelling the demand for various processes such as petrochemicals, plastics, and synthetic rubbers.
The Major Players in Liquefied Petroleum Gas Market are:
Saudi Aramco(SA), ADNOC(AE), ADGAS(AE), BP(UK), KNPC(KW), Gazprom(RU), Shell(NL), Exxon Mobil(US), Phillips66(US), Valero Energy(US), NIOPDC(IR), ConocoPhillips Company(US), Total(FR), Statoil(NO), PDVSA(VE), Sinopec(CN), CNPC(CN), Chevron(US), Qatar Petroleum(QA), Oman Oil Company(OM)
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Regional Analysis:
Asia Pacific is a leading region of the Liquefied Petroleum Gas Market
- Asia Pacific has a large population and a growing economy, which has led to an increase in demand for LPG as a cooking fuel and for other household and commercial uses. Additionally, the rapid urbanization and industrialization in many countries in the region have also contributed to the increasing demand for LPG.
Many countries in this region have implemented policies to promote the use of cleaner-burning fuels like LPG to reduce air pollution and improve public health. This has further boosted the demand for LPG in the region. Moreover, the Asia Pacific region is home to some of the world's largest LPG producers and exporters, including countries like Saudi Arabia, Qatar, and Australia. This has made LPG more readily available and affordable in the region.
Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Liquefied Petroleum Gas Market
Chapter 4 Global Liquefied Petroleum Gas Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Liquefied Petroleum Gas Market by Source Segmentation Analysis (2018-2030)
Chapter 10 Global Liquefied Petroleum Gas Market by Application Segmentation Analysis (2018-2030)
Chapter 11 Global Liquefied Petroleum Gas Market Regional Analysis
• 11.1 Detailed Qualitative Analysis
• 11.2 Global Liquefied Petroleum Gas Market Revenue by Region (2018-2030)
• 11.2 Global Liquefied Petroleum Gas Market Share (%) by Region (2018-2030)
Chapter 12 North America Liquefied Petroleum Gas Market Outlook (2018 - 2030)
Chapter 13 Europe Liquefied Petroleum Gas Market Outlook (2018 - 2030)
Chapter 14 Asia Pacific Liquefied Petroleum Gas Market Outlook (2018 - 2030)
Chapter 15 Latin America Liquefied Petroleum Gas Market Outlook (2018 - 2030)
Chapter 16 Middle East and Africa Liquefied Petroleum Gas Market Outlook (2018 - 2030)
Chapter 17 Research Findings
Customize the Report Edition (Is applicable, On Request, Subject to Data Available, At an Additional Cost)
To know more Liquefied Petroleum Gas Market TOC click here: https://www.cognitivemarketresearch.com/liquefied-petroleum-gas-market-report#table_of_contents
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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
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Cognitive Market Research
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About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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