Asia-Pacific LPG Market 2018-2028 By Size, Share, Trends, Growth, Forecast

Summary

Report Description

Forecast Period	2023-2028
Market Size (2022)	USD 33.67 Billion
CAGR (2023-2028)	4.41%
Market Size (2028)	USD 43.85 Billion
Fastest Growing Segment	Commercial
Largest Market	China

Asia-Pacific LPG Market is anticipated to grow at a steady pace in the forecast period, 2023-2028, The increase in demand for LPG from various operations is what is driving the liquefied petroleum gas industry. Additionally, one of the major factors driving the market's expansion is the implementation of strict government rules against environmental pollution.

Propane, usually referred to as liquefied petroleum gas, is a flammable hydrocarbon gas that is frequently utilized as a non-toxic and sulfur-free fuel. Along with butane (C4H10) and propane (C3H8), it also contains minor amounts of other hydrocarbons. Owing to its easy storage, LPG is a very adaptable source of energy for businesses located in places without access to piped gas supply. It is favored over a number of other energy fuels because it emits less carbon and sulphur during combustion, protecting the environment. In process industries, LP gas is frequently used to power the boilers that produce steam and boiled water. Due to its high flash point and clean fuel with little GHG emission, it is also employed as a residential cooking gas.

Increasing Demand for Autogas is Augmenting the LPG Market Growth

Over the past 20 years, auto gas consumption has significantly expanded and in 2019 reached a record high of 27.1 million tonnes. The COVID-19 crisis upheaval led to a considerable decline in auto gas use in 2020 as compared to other transportation fuels. With around 27.8 million operational auto gas vehicles worldwide, the auto gas fleet is still expanding rapidly. The proportion of gas in the overall amount of vehicle fuel consumed varies greatly between nations, from 0.03% in the United States to over 25% in the Ukraine. The vast discrepancy in auto gas' ability to compete successfully with gasoline, diesel, and other conventional car fuels is primarily accounted for by variations in government incentive schemes. The environment is the main justification for the government's aggressive promotion of auto gas and other alternative fuels in many nations. In the majority of comparative examinations of environmental performance carried out globally, auto gas outperforms gasoline, diesel, and certain other alternative fuels. The Asia Pacific market is expected to grow as a result of these factors.

Increasing Government Initiatives and Support for LPG Adoption to Aid Market Dynamics

The use of LPG has been expanding in Asia Pacific, across several sectors as GHG emissions reduction and guaranteeing sustainable energy for everyone have come under more and more scrutiny. The government has made major contributions in the form of programs and subsidies to accelerate the adoption of LPG. The "PAHAL" scheme, which deposits subsidies directly into the bank accounts of consumers who are entitled to them, is one of the governments of India's efforts that more effectively targets subsidies. The "give it up" campaign that supports this program encourages consumers who can afford to buy LPG at market rates to voluntarily stop purchasing products that are subsidized. The market is expected to grow throughout the forecast period as a result of LPG potentially becoming an appealing alternative fuel for more applications.

Increasing Utilization of LPG in Transportation as an Alternative Fuel to Augment Growth

Autogas is another term for automotive liquefied petroleum gas, or LPG, which is used as a fuel for automobiles. In terms of fleet size, auto gas is the non-blended alternative to conventional oil-based transport fuels such as gasoline and diesel that is most widely used. The auto gas market is well established in several nations. Over the past two decades, auto gas consumption has continuously climbed, hitting a record high of 27.1 million tonnes in 2019 with an increase of 1% over the previous year. Despite this, demand has declined recently, in part due to increased fuel efficiency and a decrease in the autogas fleet in some key regions. Countries' trends vary significantly, with some experiencing high market growth in 2019 while others had declines. In 2020, global pandemic brought due to which demand for Autogas and other transportation fuels is reduced.

In 2020, the demand for Autogas and other transportation fuels was reduced due to global pandemic.

.During the period of market forecasting, all of these factors are anticipated to increase the demand for this gas.

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Market Segmentation

The Asia-Pacific LPG Market is divided into source and application. Based on source, the market is divided into refinery, associated gas, and non-associated gas. Based on application, the market is further divided into residential, commercial, agriculture, industrial, transportation, and others. By Supply Mode (Packaged, Bulk, On-site)

Market Players

Major market players in the Asia-Pacific LPG Market are PetroChina Company Limited, Petroliam Nasional Berhad (PETRONAS), Royal Dutch Shell, Total Energies, Reliance Industries Limited, Exxon Mobil Corporation, Chevron Corporation, China Gas Holdings Ltd, JGC HOLDINGS CORPORATION, and Bharat Petroleum Corporation Limited.

Attribute	Details
Base Year	2022
Historic Data	2018 – 2022
Estimated Year	2023
Forecast Period	2023 – 2028
Quantitative Units	Revenue in USD Million, Volume and CAGR for 2018-2022 and 2023-2028
Report coverage	Revenue forecast, company share, growth factors, and trends
Segments covered	By Source By Application By Supply Mode By Country
Country scope	China, Japan, India, South Korea, Australia, Vietnam, Indonesia, Singapore, Philippines, Malaysia
Key companies profiled	PetroChina Company Limited, Petroliam Nasional Berhad (PETRONAS), Royal Dutch Shell, Total Energies, Reliance Industries Limited, Exxon Mobil Corporation, Chevron Corporation, China Gas Holdings Ltd, JGC HOLDINGS CORPORATION, Bharat Petroleum Corporation Limited
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, the Asia-Pacific LPG Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Asia-Pacific LPG Market, By Source:

Refinery
Associated Gas
Non-associated Gas

Asia-Pacific LPG Market, By Application:

Residential
Commercial
Agriculture
Industrial
Transportation
Others

Asia-Pacific LPG Market, By Supply Mode:

Packaged
Bulk
On-site

Asia-Pacific LPG Market, By Country:

China
Japan
India
South Korea
Australia
Vietnam
Indonesia
Singapore
Philippines
Malaysia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Asia-Pacific LPG Market.

Available Customizations:

With the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Asia-Pacific LPG Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on Asia-Pacific LPG Market

4. Executive Summary

5. Voice of Customers

6. Asia-Pacific LPG Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value & Volume

6.2. Market Share & Forecast

6.2.1. By Source (Refinery, Associated Gas, and Non-associated Gas)

6.2.2. By Application (Residential, Commercial, Agriculture, Industrial, Transportation, and Others)

6.2.3. By Supply Mode (Packaged, Bulk, On-site)

6.2.4. By Country

6.2.5. By Company (2022)

6.3. Market Map

7. China LPG Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value & Volume

7.2. Market Share & Forecast

7.2.1. By Source

7.2.2. By Application

7.2.3. By Supply Mode

8. Japan LPG Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value & Volume

8.2. Market Share & Forecast

8.2.1. By Source

8.2.2. By Application

8.2.3. By Supply Mode

9. India LPG Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value & Volume

9.2. Market Share & Forecast

9.2.1. By Source

9.2.2. By Application

9.2.3. By Supply Mode

10. South Korea LPG Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value & Volume

10.2. Market Share & Forecast

10.2.1. By Source

10.2.2. By Application

10.2.3. By Supply Mode

11. Australia LPG Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value & Volume

11.2. Market Share & Forecast

11.2.1. By Source

11.2.2. By Application

11.2.3. By Supply Mode

12. Vietnam LPG Market Outlook

12.1. Market Size & Forecast

12.1.1. By Value & Volume

12.2. Market Share & Forecast

12.2.1. By Source

12.2.2. By Application

12.2.3. By Supply Mode

13. Indonesia LPG Market Outlook

13.1. Market Size & Forecast

13.1.1. By Value & Volume

13.2. Market Share & Forecast

13.2.1. By Source

13.2.2. By Application

13.2.3. By Supply Mode

14. Singapore LPG Market Outlook

14.1. Market Size & Forecast

14.1.1. By Value & Volume

14.2. Market Share & Forecast

14.2.1. By Source

14.2.2. By Application

14.2.3. By Supply Mode

15. Philippines LPG Market Outlook

15.1. Market Size & Forecast

15.1.1. By Value & Volume

15.2. Market Share & Forecast

15.2.1. By Source

15.2.2. By Application

15.2.3. By Supply Mode

16. Malaysia LPG Market Outlook

16.1. Market Size & Forecast

16.1.1. By Value & Volume

16.2. Market Share & Forecast

16.2.1. By Source

16.2.2. By Application

16.2.3. By Supply Mode

17. Market Dynamics

17.1. Drivers

17.2. Challenges

18. Market Trends & Developments

19. Policy & Regulatory Landscape

20. Company Profiles

20.1. PetroChina Company Limited

20.1.1. Business Overview

20.1.2. Key Revenue and Financials (If Available)

20.1.3. Recent Developments

20.1.4. Key Personnel

20.1.5. Key Product/Services

20.2. Petroliam Nasional Berhad (PETRONAS)

20.2.1. Business Overview

20.2.2. Key Revenue and Financials (If Available)

20.2.3. Recent Developments

20.2.4. Key Personnel

20.2.5. Key Product/Services

20.3. Royal Dutch Shell

20.3.1. Business Overview

20.3.2. Key Revenue and Financials (If Available)

20.3.3. Recent Developments

20.3.4. Key Personnel

20.3.5. Key Product/Services

20.4. Total Energies

20.4.1. Business Overview

20.4.2. Key Revenue and Financials (If Available)

20.4.3. Recent Developments

20.4.4. Key Personnel

20.4.5. Key Product/Services

20.5. Reliance Industries Limited

20.5.1. Business Overview

20.5.2. Key Revenue and Financials (If Available)

20.5.3. Recent Developments

20.5.4. Key Personnel

20.5.5. Key Product/Services

20.6. Exxon Mobil Corporation

20.6.1. Business Overview

20.6.2. Key Revenue and Financials (If Available)

20.6.3. Recent Developments

20.6.4. Key Personnel

20.6.5. Key Product/Services

20.7. Chevron Corporation

20.7.1. Business Overview

20.7.2. Key Revenue and Financials (If Available)

20.7.3. Recent Developments

20.7.4. Key Personnel

20.7.5. Key Product/Services

20.8. China Gas Holdings Ltd

20.8.1. Business Overview

20.8.2. Key Revenue and Financials (If Available)

20.8.3. Recent Developments

20.8.4. Key Personnel

20.8.5. Key Product/Services

20.9. JGC HOLDINGS CORPORATION

20.9.1. Business Overview

20.9.2. Key Revenue and Financials (If Available)

20.9.3. Recent Developments

20.9.4. Key Personnel

20.9.5. Key Product/Services

20.10. Bharat Petroleum Corporation Limited

20.10.1. Business Overview

20.10.2. Key Revenue and Financials (If Available)

20.10.3. Recent Developments

20.10.4. Key Personnel

20.10.5. Key Product/Services

21. Strategic Recommendations

22. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What is the future of LPG?

By 2024, a major retailer will gradually phase out LPG stations in favor of EV charging stations. Owners of vintage and contemporary classic cars that have been converted to run on autogas (LPG) will find it more difficult to refuel in the coming two years as the Motor Fuels Group plans to phase out all of its LPG pumps by 2024.

What is the dominant country in Asia-Pacific LPG Market.

The dominant country in Asia-Pacific LPG Market is China owing to a growth in demand from heavy industries such as the chemical and automobile industries.

What are the significant challenges faced by the Asia-Pacific LPG Market?

The main challenges faced in Asia-Pacific LPG Market are emphasis on zero carbon emission, clean renewable, and biofuels to hamper growth.

Who are the leading players in Asia-Pacific LPG Market?

The key players profiled in the report include PetroChina Company Limited, Petroliam Nasional Berhad (PETRONAS), Royal Dutch Shell, Total Energies, Reliance Industries Limited, Exxon Mobil Corporation, Chevron Corporation, China Gas Holdings Ltd, IGC holdings corporation, and Bharat Petroleum Corporation Limited.

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Parvati Sharma

Account Manager BD

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Press Release

Asia-Pacific LPG Market Expected To Register A High CAGR During The Forecast Period

May, 2023

Increasing government initiatives and support for LPG adoption to aid market dynamics and increasing emphasis on utilization of bio-LPG are expected to drive the demand in Asia-Pacific LPG market.

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