openPR Logo
Press release

Liquefied Petroleum Gas Market Outlook 2031 Forecasts Reaching US$ 321.6 Billion by 2031, with a 4.73% CAGR Growth from 2022

The global liquefied petroleum gas (LPG) market is experiencing steady growth, driven by factors such as increasing energy demand, expanding industrial applications, and the growing adoption of LPG as a cleaner alternative to traditional fuels. With a market value of US$ 202.6 billion in 2021 and a projected CAGR of 4.73% from 2022 to 2031, the global LPG market is expected to reach US$ 321.6 billion by the end of 2031.

Market Overview

LPG, a versatile and efficient energy source derived from natural gas processing and petroleum refining, finds widespread applications across various sectors, including residential, commercial, industrial, petrochemical, transportation, and more. Its clean-burning properties, portability, and ease of storage make it a preferred choice for heating, cooking, transportation, and power generation.

Request Sample Copy of Market Research Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=491&utm_source=OpenPR_Sandeep&utm_medium=OpenPR

Market Segmentation

The LPG market is segmented based on various factors:

Source: Including refinery, associated gas, and non-associated gas.
End-user: Encompassing residential/commercial, petrochemical and refinery, industrial, transportation, and others.

Market Drivers and Challenges

Key drivers fueling the growth of the LPG market include:

Energy Demand: Rising energy consumption, particularly in emerging economies, is driving the demand for LPG as a reliable and affordable energy source.
Environmental Concerns: Growing awareness of environmental sustainability and the need to reduce greenhouse gas emissions are prompting the adoption of cleaner fuels like LPG.
Government Initiatives: Supportive government policies and incentives promoting the use of LPG for cooking, heating, and transportation are boosting market growth.

However, challenges such as volatility in crude oil prices, infrastructure limitations, and safety concerns associated with LPG handling and storage may impede market expansion.

Request TOC of Research Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=T&rep_id=491&utm_source=OpenPR_Sandeep&utm_medium=OpenPR

Market Trends

Emerging trends shaping the LPG market include:

Shift towards Clean Energy: Increasing focus on reducing carbon footprint and transitioning towards cleaner energy sources is driving the demand for LPG as a cleaner alternative to conventional fuels.
Technological Advancements: Innovations in LPG production, distribution, and utilization technologies, such as improved storage and handling systems, are enhancing the efficiency and safety of LPG operations.

Future Outlook

The future outlook for the LPG market remains positive, driven by factors such as urbanization, industrialization, infrastructure development, and favorable government policies supporting LPG adoption. The market is expected to witness sustained growth, particularly in Asia Pacific and Latin America, where rapid economic development is driving energy demand.

Competitive Landscape

Key players in the global LPG market include Royal Dutch Shell plc, Exxon Mobil Corporation, bp p.l.c., UGI Corporation, Origin Energy Limited, Kleenheat, China Gas Holdings Ltd, Copagaz, Repsol S.A., and SHV Energy. These companies are focusing on strategic investments, partnerships, and technological innovations to strengthen their market presence and meet evolving customer needs.

Buy Full Report Here: https://www.transparencymarketresearch.com/checkout.php?rep_id=491<ype=S&utm_source=OpenPR_Sandeep&utm_medium=OpenPR

Top Market Research Reports:

Construction Tape Market: https://www.globenewswire.com/en/news-release/2023/05/03/2660554/0/en/Construction-Tape-Market-to-Reach-US-4-1-Bn-by-2031-Owing-to-the-growth-in-the-construction-sector-and-the-rise-in-demand-for-energy-efficient-and-secure-tapes.html

Child Safety Seat Market: https://www.globenewswire.com/en/news-release/2023/05/03/2660365/0/en/Child-Safety-Seat-Market-to-Expand-at-a-CAGR-of-5-5-during-Forecast-Period-2023-2031-as-per-TMR-Study.html

State Tower, 90 State Street, Suite 700,
Albany NY - 12207, United States

About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Liquefied Petroleum Gas Market Outlook 2031 Forecasts Reaching US$ 321.6 Billion by 2031, with a 4.73% CAGR Growth from 2022 here

News-ID: 3404126 • Views:

More Releases from Transparency Market Research

Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights for the USD 15.9 Bn Market 2022-2031
Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights f …
The global handheld marijuana vaporizer market has witnessed remarkable growth in recent years, attributed to the increasing acceptance of medicinal marijuana and the demand for convenient and discreet consumption methods. Valued at US$ 5 billion in 2021, the market is projected to surge at a CAGR of 13.4% to reach US$ 15.9 billion by 2031. This article delves into the factors driving this growth, the evolving market landscape, and the
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And Competitors
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And …
The COVID-19 pandemic has precipitated a remarkable surge in the demand for disinfectant products, with a notable emphasis on disinfectant wipes as an essential tool in maintaining hygiene and preventing the spread of pathogens. This research report delves into the multifaceted landscape of the disinfectant wipes market, elucidating key trends, drivers, and innovations shaping the industry. 𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=70359 Key Players and Market Developments Key players
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Study
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Stud …
The global 𝐭𝐢𝐬𝐬𝐮𝐞 𝐛𝐚𝐧𝐤𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 reached a value of US$ 1,056.4 million in 2017 and is projected to nearly triple to US$ 2,903.3 million by 2026, with a robust Compound Annual Growth Rate (CAGR) of approximately 12.0% from 2018 to 2026. Factors such as increasing awareness about tissue donation, technological advancements, and a growing target patient population are anticipated to propel market growth during this period. Moreover, the market is expected
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
This report by Transparency Market Research, Inc. assesses the present state and future growth potential of the global 𝐯𝐚𝐬𝐜𝐮𝐥𝐚𝐫 𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐝𝐞𝐯𝐢𝐜𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭. It features a comprehensive executive summary, offering insights into various segments of the market. Additionally, the report provides detailed analysis and data on product, access type, application, end user, and regional segments within the global market. Vascular closure devices is estimated to reach a value of ~US$ 1 Bn

All 5 Releases


More Releases for LPG

France LPG Market Growth Driven by Low Upfront Cost of LPG Boilers
A number of factors such as the low upfront cost and less storage space required by LPG boilers and the massive government support toward new energy vehicles will help the French LPG market demonstrate a CAGR of 2.1% between 2020 and 2030. According to P&S Intelligence, the market was valued at $7,691.2 million in 2020, and it will generate $9,480.3 million revenue by 2030. Additionally, the rising public awareness regarding
Global Bio LPG Market Poised to Offer Sustainable Solution for Soaring Demand fo …
The global Bio LPG demand is expected to rise during the forecast period as it is an ideal energy solution that helps in reducing the emissions of CO2 by 80%. Consumers are increasingly adopting it as it is derived from plant and vegetable residues and municipal waste. A recent report published by Fairfield Market Research predicts that the global Bio LPG market is expected to reach US$1,020.32 Mn by 2025
Liquefied Petroleum Gas (LPG) Market Huge Demand by 2025 | British Petroleum plc …
Global Liquefied Petroleum Gas (LPG) Market: Snapshot Liquefied petroleum gas (LPG), also known as butane or propane and is a combustible blend made out of various hydrocarbon gasses. It is used as a fuel inside warming machines, vehicles, and cooking hardware, among others. This gas, when used as a vehicle fuel, is frequently known as auto gas. This gas is broadly used as a refrigerant and a vaporized charge and replaces
Liquefied Petroleum Gas (LPG) Market Assessment On Competition 2025 | British Pe …
Global Liquefied Petroleum Gas (LPG) Market: Snapshot Liquefied petroleum gas (LPG), also known as butane or propane and is a combustible blend made out of various hydrocarbon gasses. It is used as a fuel inside warming machines, vehicles, and cooking hardware, among others. This gas, when used as a vehicle fuel, is frequently known as auto gas. This gas is broadly used as a refrigerant and a vaporized charge and replaces
Cape Gas Ensuring Safe LPG Installations
The expertise of Cape Gas lies in the “Liquid Petroleum Gas” Industry (LPG) and the company performs installations and repairs. Cape Gas is a registered member of LPGSASA or Liquid Petroleum Gas Safety Association of Southern Africa. Service areas of Cape Gas include: Domestic Installations: The staff of Cape Gas does Basic Economy installation that comes with a Gas Hob connection as well as single 9 kg cylinder in a cupboard system.
Oil Tanker, LNG Carrier, and LPG Tanker Market: Eletson to Add Most Planned LPG …
Latest industry research report on: Oil Tanker, LNG Carrier, and LPG Tanker Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts About 23 tankers and carriers have been announced globally in H1 2017, of which 11 are crude tankers, eight are LNG carriers and four are LPG tankers. National Shipping Company of Saudi Arabia and Maran Tankers Management Inc. are the top operators in terms of