Global Propane Market Size Study & Forecast, by Type (HD - 5, HD - 10, Commercial), by Application (Residential, Commercial, Industrial, Others), and Regional Analysis, 2023-2030

Description

List of Tables

Global Propane Market is valued at approximately USD 88.77 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 12.5% during the forecast period 2023-2030. Propane is an alkane with the chemical formula C3H8 and is an imperceptible gas with no color or odor. It serves as a prominent fuel source across diverse applications such as heating, cooking, and various industrial uses. Typically sourced from natural gas processing or crude oil refining, propane transforms into a Liquefied Petroleum Gas (LPG) when subjected to moderate pressure, allowing for convenient storage in pressurized tanks. Its attributes, including clean-burning properties and a high energy content, position propane as a highly efficient option for residential and commercial heating systems. Moreover, its adaptability extends to use in vehicles, portable stoves, and various appliances, providing a reliable and versatile energy source across a spectrum of applications. The Propane Market is expanding because of factors such as the soaring demand for clean energy, rising emphasis on energy efficiency and clean burning fuel, as well as growing demand for clean energy.

In addition, the increasing adoption of propane in recreational vehicles for carbon footprint reduction is acting as a catalyzing factor for market growth across the globe. The surge in popularity of autogas vehicles, boasting a 90% reduction in particulates and 20% less CO2 emissions compared to petrol vehicles, has positioned them as a cleaner and more cost-effective choice for drivers. Global autogas consumption reached approximately 25 million tons in 2022, reflecting a steady rise in the preference for propane-powered vehicles over the past two decades. In Europe, LPG as a fuel type accounted for 2.5% of the 246 million passenger cars on the road, while the U.S. witnessed the operation of over 60,000 propane-powered vehicles, predominantly within truck fleets and school buses. In India, the number of LPG vehicles on the road reached around 2.5 million in 2021. The market's expansion is further propelled by the increasing prices of traditional fuels and government-backed regulatory support, especially in the realm of recreational vehicles, which is propelling the growth of the Propane Market over the estimated period. Moreover, the rise in autogas adoption, as well as the increase in government incentives and regulations present various lucrative opportunities over the forecast years. However, the availability of substitutes such as bio-propane and the harmful effects of propane at higher concentrations are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Propane Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rise in demand from the residential and transportation sectors, as well as increasing population and rapid urbanization in major nations including China, India, and other countries. Whereas, North America is expected to grow with a significant CAGR over the forecast years. The high demand for propane as a heating fuel in residential and commercial buildings, coupled with the increase in the use of Liquefied Petroleum Gas (LPG) in automobiles is significantly propelling the market demand across the region.

Major market players included in this report are:

BP Plc (U.K.)
Chevron Corporation (U.S.)
Royal Dutch Shell Plc (U.K.)
Exxon Mobil Corporation (U.S.)
ConocoPhillips (U.S)
Reliance Industries Ltd. (India)
PetroChina Company Limited (China)
Sinopec (China)
Total S A (France)
Ferrellgas Partners L.P. (U.S.)

Recent Developments in the Market:

In March 2022, KBR and ExxonMobil Catalysts and Licensing LLC ("ExxonMobil") announced a collaborative effort to drive substantial innovations in propane dehydrogenation (PDH) technology. This partnership involves the integration of ExxonMobil's cutting-edge proprietary catalyst technology with KBR's own K-PRO Propane Dehydrogenation (PDH) technology, aimed at efficiently transforming propane into propylene.

Global Propane Market Report Scope:

Historical Data: 2020 - 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.

By Type:

HD - 5
HD - 10
Commercial

By Application:

Residential
Commercial
Industrial
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Propane Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Propane Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Propane Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Propane Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Propane Market Dynamics

3.1. Propane Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
  - 3.1.1.1. Increasing demand for clean energy
  - 3.1.1.2. Rising adoption of propane in recreational vehicles for carbon footprint reduction
- 3.1.2. Market Challenges
  - 3.1.2.1. Availability of substitutes such as bio-propane
  - 3.1.2.2. Harmful effects of propane at higher concentrations
- 3.1.3. Market Opportunities
  - 3.1.3.1. Rise in autogas adoption
  - 3.1.3.2. Increase in government incentives and regulations

Chapter 4. Global Propane Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Impact Analysis
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

Chapter 5. Global Propane Market, by Type

5.1. Market Snapshot
5.2. Global Propane Market by Type, Performance - Potential Analysis
5.3. Global Propane Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Propane Market, Sub Segment Analysis
- 5.4.1. HD - 5
- 5.4.2. HD - 10
- 5.4.3. Commercial

Chapter 6. Global Propane Market, by Application

6.1. Market Snapshot
6.2. Global Propane Market by Application, Performance - Potential Analysis
6.3. Global Propane Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Propane Market, Sub Segment Analysis
- 6.4.1. Residential
- 6.4.2. Commercial
- 6.4.3. Industrial
- 6.4.4. Others

Chapter 7. Global Propane Market, Regional Analysis

7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Propane Market, Regional Market Snapshot
7.4. North America Propane Market
- 7.4.1. U.S. Propane Market
  - 7.4.1.1. Type breakdown estimates & forecasts, 2020-2030
  - 7.4.1.2. Application breakdown estimates & forecasts, 2020-2030
- 7.4.2. Canada Propane Market
7.5. Europe Propane Market Snapshot
- 7.5.1. U.K. Propane Market
- 7.5.2. Germany Propane Market
- 7.5.3. France Propane Market
- 7.5.4. Spain Propane Market
- 7.5.5. Italy Propane Market
- 7.5.6. Rest of Europe Propane Market
7.6. Asia-Pacific Propane Market Snapshot
- 7.6.1. China Propane Market
- 7.6.2. India Propane Market
- 7.6.3. Japan Propane Market
- 7.6.4. Australia Propane Market
- 7.6.5. South Korea Propane Market
- 7.6.6. Rest of Asia Pacific Propane Market
7.7. Latin America Propane Market Snapshot
- 7.7.1. Brazil Propane Market
- 7.7.2. Mexico Propane Market
7.8. Middle East & Africa Propane Market
- 7.8.1. Saudi Arabia Propane Market
- 7.8.2. South Africa Propane Market
- 7.8.3. Rest of Middle East & Africa Propane Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. Company 1
- 8.1.2. Company 2
- 8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. BP Plc (U.K.)
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Recent Developments
- 8.3.2. Chevron Corporation (U.S.)
- 8.3.3. Royal Dutch Shell Plc (U.K.)
- 8.3.4. Exxon Mobil Corporation (U.S.)
- 8.3.5. ConocoPhillips (U.S)
- 8.3.6. Reliance Industries Ltd. (India)
- 8.3.7. PetroChina Company Limited (China)
- 8.3.8. Sinopec (China)
- 8.3.9. Total S A (France)
- 8.3.10. Ferrellgas Partners L.P. (U.S.)

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Propane Market, report scope
TABLE 2. Global Propane Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Propane Market estimates & forecasts by Type 2020-2030 (USD Billion)
TABLE 4. Global Propane Market estimates & forecasts by Application 2020-2030 (USD Billion)
TABLE 5. Global Propane Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 6. Global Propane Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Propane Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Propane Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Propane Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Propane Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Propane Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Propane Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Propane Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Propane Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. U.S. Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 17. U.S. Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. Canada Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 19. Canada Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 20. Canada Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. UK Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 22. UK Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 23. UK Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. Germany Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 25. Germany Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 26. Germany Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. France Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 28. France Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 29. France Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. Italy Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 31. Italy Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 32. Italy Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Spain Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 34. Spain Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 35. Spain Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. RoE Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 37. RoE Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 38. RoE Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. China Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 40. China Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 41. China Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. India Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 43. India Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 44. India Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. Japan Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 46. Japan Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 47. Japan Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. South Korea Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 49. South Korea Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 50. South Korea Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. Australia Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 52. Australia Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 53. Australia Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. RoAPAC Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 55. RoAPAC Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 56. RoAPAC Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. Brazil Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 58. Brazil Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 59. Brazil Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Mexico Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 61. Mexico Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 62. Mexico Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. RoLA Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 64. RoLA Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 65. RoLA Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. Saudi Arabia Propane Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 67. South Africa Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 68. RoMEA Propane Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. List of secondary sources, used in the study of global Propane Market
TABLE 70. List of primary sources, used in the study of global Propane Market
TABLE 71. Years considered for the study
TABLE 72. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable.

LIST OF FIGURES

FIG 1. Global Propane Market, research methodology
FIG 2. Global Propane Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Propane Market, key trends 2022
FIG 5. Global Propane Market, growth prospects 2023-2030
FIG 6. Global Propane Market, porters 5 force model
FIG 7. Global Propane Market, pest analysis
FIG 8. Global Propane Market, value chain analysis
FIG 9. Global Propane Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Propane Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Propane Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Propane Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Propane Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Propane Market, regional snapshot 2020 & 2030
FIG 15. North America Propane Market 2020 & 2030 (USD Billion)
FIG 16. Europe Propane Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Propane Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Propane Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Propane Market 2020 & 2030 (USD Billion)