NEW YORK, May 26, 2023 /PRNewswire/ — The liquefied petroleum gas (LPG) market size is set to grow by USD 61.19 billion between 2022 and 2027 and register a CAGR of 3.81%, according to Technavio’s latest market research report. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Abu Dhabi National Oil Co., Air Liquide SA, Bharat Petroleum Corp. Ltd., BP Plc, Chevron Corp., Exxon Mobil Corp., Hindustan Petroleum Corp. Ltd., Idemitsu Kosan Co. Ltd., Indian Oil Corp. Ltd., Kuwait Petroleum Corp., OQ SAOC, Reliance Industries Ltd., Repsol SA, Saudi Arabian Oil Co., Shell plc, SHV Holdings, Sinopec Shanghai Petrochemical Co. Ltd., TotalEnergies SE, UGI Corp., and Valero Energy Corp. are some of the major market participants.
The increase in supply of natural gas, the increasing government support for LPG adoption, and the rising need for cleaner fuel will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.
Liquefied Petroleum Gas (LPG) Market 2023-2027: Segmentation
- End-user
- Residential
- Petrochemical
- Industrial And Commercial
- Transport
- Others
- Geography
- APAC
- North America
- Europe
- South America
- Middle East And Africa
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