How Big Is the LPG Gas Market | Trends & Insights 2031

Q: What will be the size of the LPG gas market by 2031?

The LPG gas market is expected to surpass USD 157.3 billion by 2031, driven by rising demand from domestic and industrial applications.

Q: Which companies are leading the LPG gas market?

Key players in the LPG gas market include SHV Energy, ExxonMobil, TotalEnergies, BPCL, and IOCL, all of which maintain extensive supply and distribution networks.

Q: How is the LPG gas market evolving in emerging economies?

The LPG gas market is expanding in emerging economies due to government subsidies, infrastructure development, and growing awareness of clean fuel benefits.

Q: What is influencing the competitive dynamics in the LPG gas market?

The LPG gas market is shaped by regulatory policies, pricing strategies, distribution reach, and increasing investments in digital and smart delivery systems.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA6956

Publication Date: Jul 2025

How Big Is the LPG Gas Market?

According to 6Wresearch internal database and industry insights, the LPG gas market was valued at USD 112.6 billion in 2024 and is anticipated to exceed USD 157.3 billion by 2031, expanding at a CAGR of 4.9%.

The market is growing steadily with increasing demand from residential, industrial, commercial and transportation uses. Increasing disposable incomes and urban migration are driving adoption and usage in cooking and heating applications, especially in developing countries. Government subsidies and clean fuel initiatives are helping grow consumption.

Growth Factors of the LPG Gas Market

Strong government push for clean energy is expanding the use of LPG
Residential demand growth due to urban migration and population growth
The expansion of auto-LPG infrastructure supports fuel switching
Industrial users seeking low-emission fuels supports market demand
Cost-effective cooking fuel substitution in rural areas
Advancements in storage facilities and cylinder safety technologies

LPG Gas Market Trends

The bulk distribution model for LPG gas is experiencing growth in the market especially for the industrial and commercial sectors. Industrial and commercial customers are changing rapidly from traditional fuels to LPG due to cost, safety, and emissions benefits. Last-mile service efficiency is improved through smart metering on domestic cylinders and mobile booking applications, which promote a much better experience for the last-minute decision maker.

Emerging Developments in LPG Gas Market

Pipeline connectivity projects and investment in central bottling plants are improving supply reliability in the LPG gas market. Public-private partnerships are progressing to promote the penetration of LPG in semi-urban and remote areas. Innovations such as composite cylinders and delivery tracking through IoT are enhancing the consumer experiences.