Latest News- Liquefied Petroleum Gas (LPG) Market: Residential is expected to lead the End-user segment during 2025-2029

The Liquefied Petroleum Gas (LPG) Market is being driven by Increase in supply of natural gas

The Liquefied Petroleum Gas (LPG) Market is expected to grow at a CAGR of 3.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 55.2 billion. Vapor-Pressure Transportation (VPT) plays a pivotal role in extending the market reach of Liquefied Petroleum Gas (LPG) suppliers. In regions devoid of conventional pipeline networks, VPT facilitates the delivery of LPG to remote, rural, industrial, and residential sectors. This solution is particularly beneficial in areas where energy access is limited, enabling communities and industries to transition from traditional biomass fuels to cleaner and more affordable energy sources. VPT's flexibility in transportation modes, including trucks, railcars, ships, or a combination of these methods, ensures reliable and efficient LPG delivery. In developing countries such as Bangladesh, Nepal, and Indonesia, VPT significantly improves energy access, reduces reliance on biomass fuels, and enhances living standards. 

Get more information on Liquefied Petroleum Gas (LPG) Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Residential
  • Petrochemical
  • Industrial and commercial
  • Transport
  • Others
• Source
  • Natural gas liquid
  • Crude oil
• Distribution Channel
  • Cylinder Distribution
  • Bulk
  • On-site storage
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in supply of natural gas
• Growing focus on sustainable LPG production
• Technological advancements in LPG production

However, the market also witnesses some limitations, which are as follows:

• Competition of LPG from other sources of energy
• Availability of alternative fuels for residential end-user
• Inadequate LPG infrastructure in developing countries

Benefits of Buying Global Liquefied Petroleum Gas (LPG) Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Liquefied Petroleum Gas (LPG) Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The LPG market encompasses various components including LPG refueling stations, LPG conversion kits, and cylinder inspection services. Safety is prioritized through LPG safety training, leak detection, odorization, pressure regulation, and flow control. Automation systems, remote monitoring, pipeline infrastructure, rail transportation, and maritime transportation facilitate LPG distribution. LPG is also used as bunker fuel, biogas, bio-LPG, and in carbon capture and renewable energy applications. Hydrogen blending, smart meters, digital platforms, mobile payment, and customer experience enhance LPG's appeal. Brand awareness, market penetration, industry consolidation, investment opportunities, and future outlook are significant factors shaping the LPG industry.

Market Research Overview

The LPG market encompasses the production, storage, transportation, and distribution of liquefied petroleum gas, including lpg cylinders, lpg storage tanks, lpg dispensing systems, lpg filling stations, and lpg autogas. The market's expansion is driven by the growing global demand for cleaner and more efficient energy sources. This demand is fueled by population growth, economic development, and urbanization. Technavio's market analysis for the parent oil and gas industry projects continued growth, as companies engaged in exploration and production, refining, storage, transportation, marketing, and other related activities generate significant revenue. The LPG market is poised to benefit from this trend, as LPG serves as a critical energy source for various industries and applications.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/