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Europe LPG Market to Reach About 58.6 Million Tonnes by 2027, Driven by the Increasing Use of Sustainable Energy Resources

According to a new report by EMR titled, ‘Europe LPG Market Report and Forecast 2022-2027’, the Europe market for LPG attained a volume of about 41.8 million tonnes in 2021. The industry is further expected to grow at a CAGR of 5.80% in the forecast period of 2022-2027 to reach a volume of approximately 58.6 million tonnes by 2027.

The increasing focus to improve air quality, especially in urban areas in Europe is propelling the demand for LPG as an alternative fuel. As both the European Union (EU) and governments in Europe are increasingly facilitating the use of renewable and low carbon gases, the use of LPG to decarbonise the energy sector is significantly growing. This is propelling the market growth in the region. With the rising awareness regarding the flexibility, portability, and cost-effectiveness offered by LPG, its demand in commercial and residential applications is surging. In addition, the increasing complexities of importing conventional energy sources like diesel and petrol is leading to a surge in the demand for renewable energy resources like bioLPG, thereby providing further impetus to the growth of the market.

UGI International (NYSE: UGI), one of the leading companies in the market, launched a joint venture with SHV Energy to advance the production and use of renewable dimethyl ether (“rDME”) in May 2021. The venture would develop opportunities for investment in the production of rDME to accelerate renewable solutions for the LPG industry. Through this, the company attempts to advance the de-fossilisation of the LPG industry while increasing the availability of rDME. The venture would further enable the company to enhance the sustainability of LPG. Moreover, the surging production of rDME would increase the availability of LPG and bioLPG blended with rDME. Such initiatives by the leading companies are increasing the use of LPG as a clean fuel alternative in various end-use industries, which is driving the growth of the market in Europe.

Market Analysis by Application and Region:

  • The market, on the basis of application, can be divided into household and commercial, among others.
  • The regional markets for LPG in Europe include Germany, the United Kingdom, France, Spain, Russia, Italy, Netherlands, and Belgium, among others.

Key Findings of the Report:

  • The increasing use of LPG as an alternative and cost-effective fuel in the transportation industry is propelling the market growth in Europe.
  • The market is being driven by the growing availability of LPG in the region and the increasing attempts by governments to decarbonise rural areas of Europe.
  • The rising concerns regarding rapid climate change and the increasing focus on zero net carbon emissions are surging the demand for bioLPG, hence augmenting the growth of the market in Europe.
  • The increasing potential of bioLPG for cost-effective decarbonisation in Europe is providing impetus to the growth of the LPG industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the Europe market for LPG for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the applications and major regions of LPG in Europe.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Europe LPG market are BP Plc, Total S.A., DCC Plc, UGI International, SHV Energy, ELPGon Mobil Corporation, and Chevron Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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