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Report Overview
The global LPG (Liquefied Petroleum Gas) market attained a volume of 346.09 MMT in 2025. The rapid shift towards clean cooking fuels in rural Asia and sub-Saharan Africa is boosting LPG penetration, with governments offering targeted subsidies and infrastructure support to replace traditional biomass use. As a result, the market is expected to grow at a CAGR of 1.40% during the forecast period of 2026-2035 to reach a volume of 397.71 MMT by 2035.
The market is witnessing dynamic changes as countries ramp up efforts toward cleaner fuel adoption, decentralised energy access, and rural penetration. LPG, with its lower emissions and wide utility span, has become a strategic fuel in energy transition agendas. The Indian government’s Pradhan Mantri Ujjwala Yojana (PMUY) alone added over 1.6 crore new LPG connections since inception in May 2016, showing how government policies can accelerate household-level fuel switching.
Innovations in storage, mini-cylinders, and refill tracking technology are redefining supply chains, boosting the LPG market development. For instance, in Kenya, PayGo Energy’s smart LPG metering system lets users pay per gram via mobile money, disrupting traditional refill models. Meanwhile, the European Union has invested in LPG as a bridging fuel for rural heating under the REPowerEU plan launched in May 2022, which aims to slash dependency on Russian pipeline gas.
Digital cylinder tracking, AI-based distribution routing, and smart leak detection have surfaced as top investment areas for operators aiming to curb losses and increase last-mile visibility, boosting the LPG market growth. These operational innovations, coupled with government-led pricing reforms and incentives, are drawing in both oil majors and clean-tech startups.
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
Competitive Landscape
The LPG market players are increasingly offering bundled solutions like safety devices, leak detectors, and AI-based delivery platforms to boost their competitive edge. They have directed all their efforts to secure institutional contracts, expand rural footprint, and integrate with carbon offset programmes. Partnerships with IoT startups, data-driven refill forecasting, and flexible leasing models for cylinders are reshaping vendor strategies.
LPG companies are eyeing underserved zones in Africa and Southeast Asia where the demand is supported by donor-backed infrastructure. Product diversification, especially in mini-cylinders and BioLPG blends, offers fresh monetisation opportunities. IoT-based tracking, BioLPG blending, decentralised logistics, industrial conversions, and small-format cylinders are reshaping LPG markets with innovation-led scalability.
BP plc
BP plc, founded in 1909 and headquartered in London, United Kingdom, is actively investing in BioLPG through its joint ventures with Green Biofuels. The company is focusing on modular LPG plants and rural refilling pilots across India and Africa.
ExxonMobil Corporation
ExxonMobil Corporation, established in 1882 and headquartered in Texas, United States, is leveraging its global refining assets to ramp up LPG exports. The firm integrates AI-based analytics for marine LPG shipments and predictive safety controls.
Chevron Corporation
Chevron Corporation, founded in 1879 and based in Texas, United States, is targeting petrochemical LPG expansion via its joint venture with Phillips 66. The firm is also investing in carbon-neutral LPG supply chains.
Phillips 66 Company
Phillips 66 Company, founded in 1927 and headquartered in Texas, United States, is scaling its LPG retail business with smart tracking tools and pre-paid refill solutions in Latin America. The firm’s focus is on customer-centric delivery innovations.
Other key players in the market are China Petroleum & Chemical Corporation (Sinopec), Total Energies SE, Bharat Petroleum Corporation Limited, Novatek, PJSC Rosneft Oil Company, Reliance Industries Limited, Saudi Arabian Oil Company, and Petróleo Brasileiro S.A., among others.
LPG Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2025, the LPG market reached an approximate volume of 346.09 MMT.
The market is projected to grow at a CAGR of 1.40% between 2026 and 2035.
The market is predicted to reach 397.71 MMT by 2035.
Key strategies driving the market include Investing in modular refilling stations, piloting smart meters, collaborating with NGOs, launching AI delivery models, and developing low-cost packaging formats.
The key trends guiding the market growth include the increasing use of LPG in cooking applications, the rising demand for clean and energy efficient sources in several end-use sectors, and the rising applications of LPG in petrochemical and automotive applications.
The major regional markets of LPG are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The leading sources of LPG in the market are refinery, associated gas, and non-associated gas.
The significant applications of LPG include residential, petrochemical, industrial, transport, and commercial, among others.
The major distribution channels in the market are institutional and retail.
The key players in the above market include BP plc, ExxonMobil Corporation, Chevron Corporation, Philips 66 Company, China Petroleum & Chemical Corporation (Sinopec), Total Energies SE, Bharat Petroleum Corporation Limited, Novatek, PJSC Rosneft Oil Company, Reliance Industries Limited, Saudi Arabian Oil Company, and Petróleo Brasileiro S.A., among others.
The key challenges are volatile pricing, complex cross-border logistics, safety liabilities, and lack of rural distribution infrastructure.
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