According to the latest report by IMARC Group, titled “ Liquefied Petroleum Gas (LPG) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 ,” offers a comprehensive analysis of the industry, which includes insights on the global energy harvesting system market share . The global liquefied petroleum gas (LPG) market size reached  US$ 128.4 Billion in 2021 . Looking forward, IMARC Group expects the market to reach US$164.4 Billion by 2027, exhibiting a  CAGR of 3.8% during 2022-2027.

Liquefied petroleum gas (LPG) is an odorless, colorless, flammable gas, which is formatted with a blend of butane, ethane, ethylene, propane, and volatile hydrocarbons. It is extensively deployed in automobiles, centralized heating solutions, chemical feedstock, and hot water systems. The LPG gasses are also utilized as a vaporized charge and refrigerant for supplanting chlorofluorocarbons (CFCs) in order to protect the ozone layer.

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Global Liquefied Petroleum Gas (LPG) Market Trends:

Rising environmental consciousness represents one of the primary factors driving the global market growth. In line with this, LPG is used as an effective alternative to fossil fuels, which is contributing to its utilization across industries. In addition, significant growth in the automotive industry is creating a positive outlook for the market. Since LPG is used as an autogas in the automotive industry for reducing carbon emissions, this is acting as a major growth-inducing factor. Other factors, such as the implementation of various government initiatives to promote the usage of LPG, are driving the market towards growth further.

Global Liquefied Petroleum Gas (LPG) Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Bharat Petroleum Corporation Limited
• BP PLC
• Chevron Corporation
• China Gas Holdings Ltd.
• Exxon Mobil Corporation
• Origin Energy Limited
• Petroliam Nasional Berhad
• Phillips 66 Company
• Repsol SA
• Royal Dutch Shell PLC and Valero Energy Corporation

The report has segmented the market on the basis on region, source, application and supply mode.

Breakup by Source:

• Refinery
• Associated Gas
• Non-Associated Gas

Breakup by Application:

• Residential
• Commercial
• Refinery and Petrochemical
• Transportation
• Others

Breakup by Supply Mode:

• Packaged
• Bulk and On-site

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China,Japan, India, South Korea, Australia, Indonesia,Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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