IMARC Group’s report titled “Liquefied Petroleum Gas (LPG) Market Report by Source (Refinery, Associated Gas, Non-Associated Gas), Application (Residential, Commercial, Refinery and Petrochemical, Transportation, and Others), Supply Mode (Packaged, Bulk and On-site), and Region 2025-2033”, The global liquefied petroleum gas market size reached USD 144.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 197.3 Billion by 2033, exhibiting a growth rate (CAGR) of 3.32% during 2025-2033.

Factors Affecting the Growth of the Liquefied Petroleum Gas (LPG) Industry:

• Shift Towards Cleaner Fuels:

The world is choosing cleaner energy, and Liquefied Petroleum Gas (LPG) is becoming a favorite. It creates less pollution compared to fuels like coal and diesel. Governments are making stricter rules to cut pollution, pushing people and businesses to use LPG for cooking, heating, and other needs. In homes, LPG is popular for cooking and heating, especially in areas without natural gas. It’s also being used more in vehicles as a cleaner and cheaper fuel than gasoline or diesel. As people care more about the environment, the LPG market is growing, with more money being spent on better storage and delivery systems.

• New Technology in LPG:

LPG is getting safer and easier to use thanks to new technology. Advanced devices now use LPG more efficiently and produce less pollution, helping both homes and businesses. LPG-powered vehicles are also improving, making them more affordable and reliable. Smart systems, like remote monitoring and automatic controls, are making LPG even safer and simpler to use. With companies working on better technology, LPG is becoming a trusted choice for many uses.

• Growing Use in Developing Countries:

In developing countries, energy demand is rising as more people move to cities and industries grow. These countries are switching from traditional fuels like wood to LPG, which is cleaner and more efficient. Governments in regions like Asia, Africa, and Latin America are helping people use LPG by offering subsidies, building better supply systems, and raising awareness. Expanding LPG delivery to rural areas is also making it easier for people to access this cleaner fuel.

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Leading Companies Operating in the Liquefied Petroleum Gas (LPG) Industry:

• Bharat Petroleum Corporation Limited
• BP P.L.C.
• Chevron Corporation
• China Gas Holdings Ltd.
• Exxon Mobil Corporation
• Origin Energy Limited
• Petroliam Nasional Berhad
• Phillips 66 Company