Liquefied Petroleum Gas Storage Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Application (Residential, Commercial, Industrial, Automotive), By Storage Type (Above-Ground, Underground, Cylinder), By End-User Industry (Oil & Gas, Chemicals, Mining, Healthcare), By Region & Competition, 2019-2029F

  • Industry : Oil and Gas
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 82.4 Billion

Market Size (2029)

USD 90.91 Billion

CAGR (2024-2029)

1.5%

Fastest Growing Segment

Underground

Largest Market

Asia Pacific

Market Overview

Global Liquefied Petroleum Gas Storage Market was valued at USD 82.4 Billion in 2023 and is expected to reach USD 90.91 Billion in 2029 with a CAGR of 1.5% through 2029. The Global Liquefied Petroleum Gas (LPG) Storage Market is experiencing significant growth driven by several key factors. LPG, comprising propane and butane, serves as a versatile and cleaner alternative to traditional fossil fuels, aligning with global efforts towards reducing carbon emissions. This has spurred increased adoption across residential, commercial, industrial, and automotive sectors, where LPG is used for heating, cooking, transportation, and industrial processes. The market expansion is further bolstered by infrastructure developments, such as storage terminals and distribution networks, enhancing accessibility and reliability of supply.

Rising urbanization and population growth in emerging economies have amplified energy consumption needs, boosting demand for LPG storage solutions. Regulatory support promoting LPG as a cleaner energy source, alongside technological advancements in storage technologies, including safety features and efficiency improvements, are also contributing factors. Additionally, geopolitical shifts and fluctuations in crude oil prices influence market dynamics, impacting LPG production, distribution, and storage capacities globally. As stakeholders increasingly prioritize sustainability and efficiency, the Global LPG Storage Market is poised for continued growth, driven by evolving consumer preferences and environmental considerations.

Key Market Drivers

Increasing Demand for Cleaner Energy Sources

The Global Liquefied Petroleum Gas (LPG) Storage Market is propelled by a growing global demand for cleaner energy sources amidst increasing environmental concerns and regulatory pressures. LPG, composed mainly of propane and butane, is recognized for its lower greenhouse gas emissions compared to traditional fossil fuels like coal and oil. As governments and industries worldwide prioritize reducing carbon footprints and improving air quality, LPG emerges as a versatile solution for various energy needs across residential, commercial, and industrial sectors.

LPG's versatility extends to its applications in transportation, where it serves as an alternative fuel in vehicles, reducing harmful emissions and enhancing fuel efficiency. This versatility enhances its appeal as a transitional fuel towards renewable energy sources, fostering its adoption in regions aiming to diversify their energy mix. The market growth is further bolstered by technological advancements in LPG storage solutions, ensuring safety, efficiency, and reliability in supply chains.

Rapid Urbanization and Energy Consumption Trends in Emerging Economies

The rapid pace of urbanization and industrialization in emerging economies is another significant driver fueling the Global Liquefied Petroleum Gas (LPG) Storage Market. As populations concentrate in urban centers, there is a corresponding increase in energy consumption for heating, cooking, and industrial processes. LPG meets these diverse energy demands effectively, offering a reliable and portable energy solution that can be easily stored and transported. In many developing countries, LPG serves as a crucial energy source for households transitioning away from traditional biomass fuels such as wood and charcoal. This transition is driven by efforts to improve indoor air quality and reduce health risks associated with indoor pollution from solid fuels. Governments and international organizations support this shift through subsidies, infrastructure investments, and awareness campaigns, further boosting the demand for LPG storage facilities.

The flexibility of LPG in meeting peak energy demands and its compatibility with modern appliances and industrial equipment contribute to its popularity in rapidly growing urban areas. As these economies continue to expand, the need for efficient and scalable energy solutions becomes more pronounced, driving investments in LPG storage infrastructure and logistics. Rapid urbanization and evolving energy consumption patterns in emerging economies are key drivers accelerating the growth of the Global LPG Storage Market. The adaptability of LPG to meet diverse energy needs, coupled with supportive government policies and infrastructure investments, positions LPG as a vital component of energy transitions in developing regions worldwide.

Regulatory Support and Policies Promoting LPG as a Clean Energy Source

Regulatory support and policies promoting LPG as a clean and sustainable energy source are significant drivers shaping the Global Liquefied Petroleum Gas (LPG) Storage Market. Governments worldwide are increasingly implementing policies to reduce emissions and improve air quality, incentivizing the adoption of cleaner fuels like LPG across residential, commercial, and industrial sectors. These policies include tax incentives, subsidies, and regulatory frameworks that encourage the use of LPG over traditional fossil fuels such as coal and oil. Additionally, stringent emissions standards and environmental regulations drive industries to transition towards cleaner energy alternatives, further boosting the demand for LPG storage infrastructure.

International agreements and commitments to mitigate climate change, such as the Paris Agreement, emphasize the role of cleaner fuels in achieving sustainable development goals. LPG's lower carbon footprint and versatile applications make it a preferred choice for meeting energy needs while aligning with global environmental objectives. Regulatory support and favorable policies promoting LPG as a clean energy source create a conducive environment for market growth. They stimulate investments in LPG storage facilities, enhance market competitiveness, and contribute to the overall sustainability of the energy sector.

Geopolitical Factors and Energy Security Concerns

Geopolitical factors and concerns over energy security also influence the dynamics of the Global Liquefied Petroleum Gas (LPG) Storage Market. LPG, being a globally traded commodity, is subject to geopolitical tensions, supply disruptions, and fluctuations in crude oil prices, which directly impact its production, distribution, and storage.

Countries and regions dependent on imported energy sources often prioritize diversifying their energy mix and enhancing storage capacities to mitigate risks associated with geopolitical uncertainties. This strategic approach ensures continuity of supply and reduces vulnerability to external supply disruptions. LPG's role in enhancing energy security is underscored by its availability as a reliable backup energy source during emergencies or disruptions in conventional energy supplies. Governments and energy stakeholders invest in expanding storage infrastructure to build strategic reserves and buffer stocks, thereby strengthening energy resilience and security at national and regional levels.


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Key Market Challenges

Price Volatility and Dependency on Crude Oil Prices

One of the primary challenges facing the Global Liquefied Petroleum Gas (LPG) Storage Market is the inherent volatility in prices, which is closely tied to fluctuations in crude oil prices. LPG, derived from refining processes alongside crude oil, often mirrors the price movements of its feedstock. This dependency introduces uncertainty for stakeholders across the supply chain, including producers, distributors, and consumers. The volatility in crude oil prices can result from geopolitical tensions, production quotas set by oil-producing countries, and shifts in global demand patterns. Such fluctuations impact the cost of LPG production, transportation, and storage, thereby influencing market dynamics and profitability margins. For businesses involved in LPG storage, managing price risks through hedging strategies and maintaining flexible pricing models becomes crucial to mitigate financial exposure.

Moreover, price volatility affects consumer behavior and investment decisions in infrastructure development. High prices may discourage consumers from switching to LPG or investing in energy-efficient appliances that utilize LPG. Similarly, volatile prices can deter investors from committing capital to expand storage capacities or upgrade facilities, as uncertainties in future revenue streams can pose financial risks. Addressing the challenge of price volatility requires collaboration among industry stakeholders to develop resilient pricing mechanisms, promote energy diversification strategies, and enhance transparency in market operations. Governments can also play a role by implementing policies that stabilize energy prices, incentivize storage infrastructure investments, and promote energy efficiency measures to reduce overall energy costs.

Infrastructure Limitations and Storage Capacity Constraints

Another critical challenge facing the Global Liquefied Petroleum Gas (LPG) Storage Market is the adequacy and scalability of infrastructure, particularly storage facilities and distribution networks. As global demand for LPG continues to grow across residential, commercial, industrial, and automotive sectors, existing infrastructure may face limitations in terms of capacity, efficiency, and geographic coverage. Infrastructure constraints can manifest in various ways, including insufficient storage capacities during peak demand periods, logistical bottlenecks in distribution networks, and inadequate facilities in regions with burgeoning LPG consumption. These limitations can result in supply chain disruptions, delayed deliveries, and increased operational costs for stakeholders involved in LPG storage and distribution.

Rapid urbanization and industrialization in emerging economies exacerbate the need for expanded infrastructure to meet escalating energy demands. In many developing regions, inadequate storage facilities and underdeveloped distribution networks hinder the widespread adoption of LPG as a cleaner alternative to traditional fuels, impeding efforts to improve energy access and air quality.

Safety and Regulatory Compliance

Safety concerns and regulatory compliance present substantial challenges for the Global Liquefied Petroleum Gas (LPG) Storage Market. LPG, being a highly flammable and pressurized gas, requires stringent safety measures throughout its storage, transportation, and usage phases to prevent accidents, mitigate risks, and ensure public safety. Storage facilities must adhere to strict safety standards and regulations set forth by local, national, and international authorities to minimize the potential for leaks, fires, and explosions. Compliance with these regulations involves implementing robust safety protocols, conducting regular inspections and maintenance, and investing in advanced monitoring and emergency response systems.

The diverse applications of LPG across residential, commercial, industrial, and automotive sectors necessitate tailored safety measures to address specific risks associated with each use case. For example, residential LPG storage tanks require proper installation, leak detection systems, and user education to prevent accidents in households. Similarly, industrial facilities handling large quantities of LPG must adhere to comprehensive safety protocols to safeguard workers and surrounding communities. Navigating regulatory complexities across different regions and jurisdictions adds another layer of challenge for stakeholders in the Global LPG Storage Market. Varying regulatory frameworks and standards require businesses to stay informed, maintain compliance, and adapt their operations accordingly, which can involve significant administrative and operational costs.

To address safety and regulatory challenges effectively, industry stakeholders must prioritize investment in safety technologies, training programs for personnel, and collaboration with regulatory authorities to develop and implement best practices. Continuous improvement in safety standards, adoption of innovative technologies like remote monitoring and automation, and proactive risk management strategies are essential to enhancing safety performance and regulatory compliance across the LPG storage sector.

Environmental Concerns and Sustainability

Environmental considerations pose significant challenges for the Global Liquefied Petroleum Gas (LPG) Storage Market, despite LPG being recognized as a cleaner alternative to traditional fossil fuels. While LPG emits fewer greenhouse gases and pollutants compared to coal and oil, its production, distribution, and storage can still impact the environment through emissions, energy consumption, and waste generation. Key environmental concerns include methane emissions during LPG production, energy-intensive processes in refining and transportation, and the potential for leaks and spills from storage facilities. Managing these environmental impacts requires adopting sustainable practices across the LPG supply chain, from production and storage to end-use applications. The transition towards renewable energy sources and decarbonization efforts globally necessitates addressing the carbon footprint of LPG throughout its lifecycle. Stakeholders in the Global LPG Storage Market face pressure to reduce environmental impacts, comply with evolving environmental regulations, and demonstrate commitment to sustainability goals.

To address environmental challenges effectively, industry leaders are increasingly investing in technologies that improve energy efficiency, reduce emissions, and promote circular economy principles in LPG production and storage. This includes advancements in cleaner production methods, utilization of renewable energy sources, and implementation of carbon capture and storage (CCS) technologies to mitigate greenhouse gas emissions. Promoting transparency and accountability in environmental performance, engaging stakeholders through sustainability initiatives, and advocating for policies that support sustainable practices are essential strategies for navigating environmental challenges in the Global LPG Storage Market. Collaborative efforts among industry players, governments, and environmental organizations can drive innovation, foster responsible stewardship of natural resources, and ensure long-term environmental sustainability in the LPG industry.

Key Market Trends

Increasing Adoption of LPG as a Residential Energy Source

One significant trend in the Global Liquefied Petroleum Gas (LPG) Storage Market is the increasing adoption of LPG as a residential energy source. LPG is widely favored for cooking, heating, and water heating in households globally, particularly in regions where access to natural gas infrastructure is limited or impractical. Its clean-burning properties and efficiency make it an attractive alternative to traditional biomass fuels such as wood and charcoal, offering convenience and reliability to consumers. The shift towards LPG in residential applications is driven by various factors, including urbanization, rising disposable incomes, and government initiatives promoting clean cooking solutions. In many developing countries, government subsidies and awareness campaigns encourage households to switch from biomass to LPG, improving indoor air quality and reducing health risks associated with indoor pollution.

Technological advancements in LPG storage systems, such as compact cylinders and safety features like leak detection sensors, enhance the safety and convenience of using LPG in residential settings. These innovations contribute to the market's growth by addressing consumer preferences for user-friendly and secure energy solutions. As the trend towards urbanization continues and consumer awareness of environmental and health impacts grows, the demand for LPG in residential sectors is expected to expand further. This presents opportunities for stakeholders in the Global LPG Storage Market to invest in infrastructure development, expand distribution networks, and introduce innovative products that cater to residential energy needs effectively.

Growth in LPG Autogas Applications

Another notable trend shaping the Global Liquefied Petroleum Gas (LPG) Storage Market is the growth in LPG autogas applications. LPG, when used as an automotive fuel, offers environmental benefits such as lower emissions of particulate matter and nitrogen oxides compared to traditional gasoline and diesel. This makes it an attractive option for fleet operators, taxi services, and private vehicle owners seeking cost-effective and environmentally friendly transportation solutions. The popularity of LPG autogas is driven by its affordability relative to conventional fuels, as well as government incentives and policies promoting cleaner transportation alternatives. In many countries, tax incentives, subsidies for vehicle conversions, and infrastructure development initiatives support the expansion of LPG refueling stations, enhancing accessibility and convenience for consumers.

Advancements in LPG storage technologies, including high-pressure cylinders and efficient refueling systems, facilitate the widespread adoption of LPG autogas in diverse automotive fleets. These technological innovations contribute to reducing refueling times, enhancing vehicle performance, and optimizing operational efficiency for fleet operators.

The versatility of LPG as an automotive fuel further strengthens its market appeal, offering flexibility in vehicle conversions and compatibility with existing gasoline and diesel engines. This allows fleet managers and individual consumers to transition to LPG autogas seamlessly without significant modifications to their vehicles or infrastructure. Looking ahead, the growth in LPG autogas applications is expected to continue as governments intensify efforts to reduce urban air pollution and greenhouse gas emissions from the transport sector. Stakeholders in the Global LPG Storage Market can capitalize on this trend by investing in infrastructure for LPG refueling stations, promoting consumer awareness of autogas benefits, and collaborating with automotive manufacturers to expand vehicle options compatible with LPG.

Expansion of Industrial Applications for LPG

The Global Liquefied Petroleum Gas (LPG) Storage Market is witnessing an expansion in industrial applications driven by LPG's versatility, cost-effectiveness, and environmental advantages. Industries across sectors such as manufacturing, agriculture, hospitality, and pharmaceuticals are increasingly adopting LPG for various processes including heating, drying, sterilization, and powering machinery.

One key factor contributing to the growth of LPG in industrial applications is its ability to provide consistent and reliable energy supply, essential for maintaining production efficiency and meeting operational demands. Unlike other fuels, LPG can be stored in large quantities and distributed efficiently, making it suitable for industrial operations where energy reliability and cost management are critical factors. Moreover, industries are increasingly focused on reducing carbon footprints and complying with stringent environmental regulations. LPG offers a cleaner alternative to coal and heavy oils, emitting lower levels of particulate matter, sulfur dioxide, and nitrogen oxides. This environmental benefit aligns with corporate sustainability goals and positions LPG as a preferred energy source in industries striving for greener practices.

Technological advancements in LPG storage and utilization further enhance its attractiveness for industrial applications. Innovations such as vaporizers, pressure regulators, and automated control systems improve safety, efficiency, and operational control, thereby optimizing LPG utilization in diverse industrial processes. Looking forward, the expansion of industrial applications for LPG is expected to continue as industries seek versatile and sustainable energy solutions. Stakeholders in the Global LPG Storage Market can capitalize on this trend by expanding storage capacities, enhancing distribution networks, and partnering with industrial clients to develop customized solutions that meet specific energy requirements and regulatory standards.

Integration of Digital Technologies in LPG Storage Management

An emerging trend in the Global Liquefied Petroleum Gas (LPG) Storage Market is the integration of digital technologies to enhance storage management efficiency, operational transparency, and safety protocols. Digitalization is revolutionizing how LPG storage facilities monitor, manage, and optimize their operations, offering real-time insights and predictive analytics to improve decision-making and performance.

One aspect of digital integration is the adoption of Internet of Things (IoT) devices and sensors within storage tanks and distribution networks. These devices enable remote monitoring of LPG levels, temperature, pressure, and other critical parameters, allowing operators to detect anomalies, prevent leaks, and optimize inventory management. Real-time data analytics provide actionable insights that support proactive maintenance and operational efficiency improvements. Digital technologies facilitate automation in LPG storage facilities, streamlining workflows and reducing human error. Automated systems for filling, weighing, and monitoring LPG cylinders or tanks enhance safety, accuracy, and throughput, while reducing operational costs and optimizing resource utilization.

Cloud-based platforms and data analytics software are also transforming LPG storage management by centralizing data storage, facilitating collaboration among stakeholders, and enabling predictive maintenance and demand forecasting. These capabilities empower storage operators to respond swiftly to market fluctuations, optimize supply chain logistics, and improve customer service levels. Advancements in cybersecurity protocols ensure data integrity and protect sensitive information within digitalized LPG storage systems. Robust cybersecurity measures are essential to safeguarding against potential threats such as unauthorized access, data breaches, and operational disruptions.

Segmental Insights

Storage Type Insights

The above-ground storage type segment dominated the Global Liquefied Petroleum Gas (LPG) Storage Market and is expected to maintain its dominance during the forecast period. Above-ground storage solutions for LPG include tanks and containers that are situated on the surface level, commonly used across residential, commercial, and small to medium-scale industrial applications. This dominance is driven by several factors: Above-ground storage tanks offer practicality and ease of installation compared to underground alternatives, making them accessible and cost-effective for a wide range of users. Above-ground tanks are typically easier to maintain and inspect, facilitating regular safety checks and operational monitoring. These storage solutions are versatile and can be adapted to varying storage capacities, accommodating both small-scale residential installations and larger commercial or industrial requirements. Moreover, technological advancements in above-ground tank design have improved safety features, such as enhanced corrosion resistance and leak detection systems, further bolstering their reliability and attractiveness in the market. As industries continue to prioritize operational efficiency and regulatory compliance, the above-ground storage segment is expected to sustain its dominance. Additionally, ongoing urbanization and infrastructure developments in emerging economies will likely drive demand for accessible and scalable storage solutions, supporting the market's growth trajectory. Overall, the above-ground storage type segment is well-positioned to maintain its leadership in the Global LPG Storage Market, leveraging its practicality, adaptability, and technological advancements to meet diverse industry needs effectively


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Regional Insights

Asia Pacific dominated the Global Liquefied Petroleum Gas (LPG) Storage Market and is expected to maintain its dominance during the forecast period. Several factors contribute to Asia Pacific's leadership in the market:  Rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations have significantly increased the demand for LPG across residential, commercial, and industrial sectors. The region's large population base and expanding middle class drive the consumption of LPG for cooking, heating, and automotive applications, creating substantial market opportunities. Secondly, supportive government policies and initiatives promoting LPG as a cleaner alternative to traditional fuels further stimulate market growth. Policies such as subsidies for LPG adoption, infrastructure investments in storage facilities and distribution networks, and regulatory frameworks that enhance safety and environmental standards contribute to market expansion. Thirdly, robust economic growth and infrastructure development projects in sectors like construction, manufacturing, and transportation increase the demand for LPG as an energy source, bolstering market demand. Moreover, strategic investments by key market players in expanding storage capacities, enhancing supply chain logistics, and leveraging technological innovations strengthen Asia Pacific's position in the Global LPG Storage Market. Looking ahead, Asia Pacific's dominance is expected to continue, driven by ongoing urbanization trends, rising energy consumption, and supportive government policies promoting sustainable energy solutions. The region's dynamic market landscape presents opportunities for stakeholders to capitalize on growing demand, innovate in storage technologies, and collaborate on initiatives that advance the adoption of LPG as a key component of the energy mix across diverse industries

Recent Developments

  • In June 2024, the president inaugurated the first liquefied petroleum gas (LPG) terminal at the port in North Unguja Region, urging companies to invest in additional supporting infrastructure, including oil and gas depots. The Oryx Energies terminal aims to ensure a reliable and seamless LPG supply to the Zanzibar population, leveraging the new port facilities. The government anticipates sufficient oil and gas storage reserves to facilitate local sales, reducing the need for firms to rely on ports in neighboring countries. The president emphasized the necessity for gas companies to develop strategies to lower gas costs, making it more accessible to the public. The Mangapwani area has been designated as an oil and gas tank farm to support these initiatives.
  • In April 2023, Royal Vopak, a Dutch tank storage company, and AltaGas, a North American energy infrastructure firm, announced a 50/50 joint venture to advance the development of the Ridley Island Energy Export Facility (REEF). This large-scale terminal for liquefied petroleum gas (LPG) and bulk liquids, featuring marine infrastructure, will be located on Ridley Island, British Columbia, Canada.
  • In July 2024, Oryx Energies inaugurated its latest LPG filling station in Daloa, Côte d'Ivoire, marking its fourth facility in the country. The station boasts a filling capacity of 1,200 6 kg cylinders and 800 12.5 kg cylinders per hour. Spanning over three hectares, the site has a storage capacity of 200 tons, with potential expansion to 300 tons.

Key Market Players

  • Saudi Arabian Oil Co.
  • Exxon Mobil Corporation
  • Shell PLC
  • TotalEnergies SE
  • BP PLC
  • Chevron Corporation
  • China Petroleum Corporation
  • Indian Oil Corporation Ltd.
  • Gazprom International Limited
  • ENI S.p.A.

By Storage Type

By End-User Industry

  By Application

By Region
  • Above-Ground
  • Underground
  • Cylinder
  • Oil & Gas
  • Chemicals
  • Mining
  • Healthcare
  • Residential
  • Commercial
  • Industrial
  • Automotive
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Report Scope:

In this report, the Global Liquefied Petroleum Gas Storage Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Liquefied Petroleum Gas Storage Market, By Storage Type:

o   Above-Ground

o   Underground

o   Cylinder

  • Liquefied Petroleum Gas Storage Market, By End-User Industry:

o   Oil & Gas

o   Chemicals

o   Mining

o   Healthcare

  • Liquefied Petroleum Gas Storage Market, By Application:

o   Residential

o   Commercial

o   Industrial

o   Automotive

  • Liquefied Petroleum Gas Storage Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

§  Indonesia

§  Vietnam

o   South America

§  Brazil

§  Argentina

§  Colombia

§  Chile

§  Peru

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

§  Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Liquefied Petroleum Gas Storage Market.

Available Customizations:

Global Liquefied Petroleum Gas Storage market report with the given market data, TechSci 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).

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Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Formulation of the Scope

2.4.  Assumptions and Limitations

2.5.  Sources of Research

2.5.1.    Secondary Research

2.5.2.    Primary Research

2.6.  Approach for the Market Study

2.6.1.    The Bottom-Up Approach

2.6.2.    The Top-Down Approach

2.7.  Methodology Followed for Calculation of Market Size & Market Shares

2.8.  Forecasting Methodology

2.8.1.    Data Triangulation & Validation

3.    Executive Summary

4.    Impact of COVID-19 on Global Liquefied Petroleum Gas Storage Market

5.    Voice of Customer

6.    Global Liquefied Petroleum Gas Storage Market Overview

7.    Global Liquefied Petroleum Gas Storage Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Application (Residential, Commercial, Industrial, Automotive)

7.2.2.    By Storage Type (Above-Ground, Underground, Cylinder)

7.2.3.    By End-User Industry (Oil & Gas, Chemicals, Mining, Healthcare)

7.2.4.    By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3.  By Company (2023)

7.4.  Market Map

8.    North America Liquefied Petroleum Gas Storage Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Application

8.2.2.    By Storage Type

8.2.3.    By End-User Industry

8.2.4.    By Country

8.3.  North America: Country Analysis

8.3.1.    United States Liquefied Petroleum Gas Storage Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Application

8.3.1.2.2.           By Storage Type

8.3.1.2.3.           By End-User Industry

8.3.2.    Canada Liquefied Petroleum Gas Storage Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Application

8.3.2.2.2.           By Storage Type

8.3.2.2.3.           By End-User Industry

8.3.3.    Mexico Liquefied Petroleum Gas Storage Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Application

8.3.3.2.2.           By Storage Type

8.3.3.2.3.           By End-User Industry

9.    Europe Liquefied Petroleum Gas Storage Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Application

9.2.2.    By Storage Type

9.2.3.    By End-User Industry

9.2.4.    By Country

9.3.  Europe: Country Analysis

9.3.1.    Germany Liquefied Petroleum Gas Storage Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Application

9.3.1.2.2.           By Storage Type

9.3.1.2.3.           By End-User Industry

9.3.2.    France Liquefied Petroleum Gas Storage Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Application

9.3.2.2.2.           By Storage Type

9.3.2.2.3.           By End-User Industry

9.3.3.    United Kingdom Liquefied Petroleum Gas Storage Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Application

9.3.3.2.2.           By Storage Type

9.3.3.2.3.           By End-User Industry

9.3.4.    Italy Liquefied Petroleum Gas Storage Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.           By Value

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.           By Application

9.3.4.2.2.           By Storage Type

9.3.4.2.3.           By End-User Industry

9.3.5.    Spain Liquefied Petroleum Gas Storage Market Outlook

9.3.5.1.        Market Size & Forecast

9.3.5.1.1.           By Value

9.3.5.2.        Market Share & Forecast

9.3.5.2.1.           By Application

9.3.5.2.2.           By Storage Type

9.3.5.2.3.           By End-User Industry

9.3.6.    Belgium Liquefied Petroleum Gas Storage Market Outlook

9.3.6.1.        Market Size & Forecast

9.3.6.1.1.           By Value

9.3.6.2.        Market Share & Forecast

9.3.6.2.1.           By Application

9.3.6.2.2.           By Storage Type

9.3.6.2.3.           By End-User Industry

10. South America Liquefied Petroleum Gas Storage Market Outlook

10.1.            Market Size & Forecast

10.1.1. By Value

10.2.            Market Share & Forecast

10.2.1. By Application

10.2.2. By Storage Type

10.2.3. By End-User Industry

10.2.4. By Country

10.3.            South America: Country Analysis

10.3.1. Brazil Liquefied Petroleum Gas Storage Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Application

10.3.1.2.2.         By Storage Type

10.3.1.2.3.         By End-User Industry

10.3.2. Colombia Liquefied Petroleum Gas Storage Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Application

10.3.2.2.2.         By Storage Type

10.3.2.2.3.         By End-User Industry

10.3.3. Argentina Liquefied Petroleum Gas Storage Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Application

10.3.3.2.2.         By Storage Type

10.3.3.2.3.         By End-User Industry

10.3.4. Chile Liquefied Petroleum Gas Storage Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Application

10.3.4.2.2.         By Storage Type

10.3.4.2.3.         By End-User Industry

10.3.5. Peru Liquefied Petroleum Gas Storage Market Outlook

10.3.5.1.     Market Size & Forecast

10.3.5.1.1.         By Value

10.3.5.2.     Market Share & Forecast

10.3.5.2.1.         By Application

10.3.5.2.2.         By Storage Type

10.3.5.2.3.         By End-User Industry

11. Middle East & Africa Liquefied Petroleum Gas Storage Market Outlook

11.1.            Market Size & Forecast

11.1.1. By Value

11.2.            Market Share & Forecast

11.2.1. By Application

11.2.2. By Storage Type

11.2.3. By End-User Industry

11.2.4. By Country

11.3.            Middle East & Africa: Country Analysis

11.3.1. Saudi Arabia Liquefied Petroleum Gas Storage Market Outlook

11.3.1.1.     Market Size & Forecast

11.3.1.1.1.         By Value

11.3.1.2.     Market Share & Forecast

11.3.1.2.1.         By Application

11.3.1.2.2.         By Storage Type

11.3.1.2.3.         By End-User Industry

11.3.2. UAE Liquefied Petroleum Gas Storage Market Outlook

11.3.2.1.     Market Size & Forecast

11.3.2.1.1.         By Value

11.3.2.2.     Market Share & Forecast

11.3.2.2.1.         By Application

11.3.2.2.2.         By Storage Type

11.3.2.2.3.         By End-User Industry

11.3.3. South Africa Liquefied Petroleum Gas Storage Market Outlook

11.3.3.1.     Market Size & Forecast

11.3.3.1.1.         By Value

11.3.3.2.     Market Share & Forecast

11.3.3.2.1.         By Application

11.3.3.2.2.         By Storage Type

11.3.3.2.3.         By End-User Industry

11.3.4. Turkey Liquefied Petroleum Gas Storage Market Outlook

11.3.4.1.     Market Size & Forecast

11.3.4.1.1.         By Value

11.3.4.2.     Market Share & Forecast

11.3.4.2.1.         By Application

11.3.4.2.2.         By Storage Type

11.3.4.2.3.         By End-User Industry

11.3.5. Israel Liquefied Petroleum Gas Storage Market Outlook

11.3.5.1.     Market Size & Forecast

11.3.5.1.1.         By Value

11.3.5.2.     Market Share & Forecast

11.3.5.2.1.         By Application

11.3.5.2.2.         By Storage Type

11.3.5.2.3.         By End-User Industry

12. Asia Pacific Liquefied Petroleum Gas Storage Market Outlook

12.1.            Market Size & Forecast

12.1.1. By Value

12.2.            Market Share & Forecast

12.2.1. By Application

12.2.2. By Storage Type

12.2.3. By End-User Industry

12.2.4. By Country

12.3.            Asia-Pacific: Country Analysis

12.3.1. China Liquefied Petroleum Gas Storage Market Outlook

12.3.1.1.     Market Size & Forecast

12.3.1.1.1.         By Value

12.3.1.2.     Market Share & Forecast

12.3.1.2.1.         By Application

12.3.1.2.2.         By Storage Type

12.3.1.2.3.         By End-User Industry

12.3.2. India Liquefied Petroleum Gas Storage Market Outlook

12.3.2.1.     Market Size & Forecast

12.3.2.1.1.         By Value

12.3.2.2.     Market Share & Forecast

12.3.2.2.1.         By Application

12.3.2.2.2.         By Storage Type

12.3.2.2.3.         By End-User Industry

12.3.3. Japan Liquefied Petroleum Gas Storage Market Outlook

12.3.3.1.     Market Size & Forecast

12.3.3.1.1.         By Value

12.3.3.2.     Market Share & Forecast

12.3.3.2.1.         By Application

12.3.3.2.2.         By Storage Type

12.3.3.2.3.         By End-User Industry

12.3.4. South Korea Liquefied Petroleum Gas Storage Market Outlook

12.3.4.1.     Market Size & Forecast

12.3.4.1.1.         By Value

12.3.4.2.     Market Share & Forecast

12.3.4.2.1.         By Application

12.3.4.2.2.         By Storage Type

12.3.4.2.3.         By End-User Industry

12.3.5. Australia Liquefied Petroleum Gas Storage Market Outlook

12.3.5.1.     Market Size & Forecast

12.3.5.1.1.         By Value

12.3.5.2.     Market Share & Forecast

12.3.5.2.1.         By Application

12.3.5.2.2.         By Storage Type

12.3.5.2.3.         By End-User Industry

12.3.6. Indonesia Liquefied Petroleum Gas Storage Market Outlook

12.3.6.1.     Market Size & Forecast

12.3.6.1.1.         By Value

12.3.6.2.     Market Share & Forecast

12.3.6.2.1.         By Application

12.3.6.2.2.         By Storage Type

12.3.6.2.3.         By End-User Industry

12.3.7. Vietnam Liquefied Petroleum Gas Storage Market Outlook

12.3.7.1.     Market Size & Forecast

12.3.7.1.1.         By Value

12.3.7.2.     Market Share & Forecast

12.3.7.2.1.         By Application

12.3.7.2.2.         By Storage Type

12.3.7.2.3.         By End-User Industry

13. Market Dynamics

13.1.            Drivers

13.2.            Challenges

14. Market Trends and Developments

15. Company Profiles

15.1.            Saudi Arabian Oil Co.

15.1.1. Business Overview

15.1.2. Key Revenue and Financials  

15.1.3. Recent Developments

15.1.4. Key Personnel/Key Contact Person

15.1.5. Key Product/Services Offered

15.2.            Exxon Mobil Corporation

15.2.1. Business Overview

15.2.2. Key Revenue and Financials  

15.2.3. Recent Developments

15.2.4. Key Personnel/Key Contact Person

15.2.5. Key Product/Services Offered

15.3.            Shell PLC

15.3.1. Business Overview

15.3.2. Key Revenue and Financials  

15.3.3. Recent Developments

15.3.4. Key Personnel/Key Contact Person

15.3.5. Key Product/Services Offered

15.4.            TotalEnergies SE

15.4.1. Business Overview

15.4.2. Key Revenue and Financials  

15.4.3. Recent Developments

15.4.4. Key Personnel/Key Contact Person

15.4.5. Key Product/Services Offered

15.5.            BP PLC

15.5.1. Business Overview

15.5.2. Key Revenue and Financials  

15.5.3. Recent Developments

15.5.4. Key Personnel/Key Contact Person

15.5.5. Key Product/Services Offered

15.6.            Chevron Corporation

15.6.1. Business Overview

15.6.2. Key Revenue and Financials  

15.6.3. Recent Developments

15.6.4. Key Personnel/Key Contact Person

15.6.5. Key Product/Services Offered

15.7.            China Petroleum Corporation

15.7.1. Business Overview

15.7.2. Key Revenue and Financials  

15.7.3. Recent Developments

15.7.4. Key Personnel/Key Contact Person

15.7.5. Key Product/Services Offered

15.8.            Indian Oil Corporation Ltd.

15.8.1. Business Overview

15.8.2. Key Revenue and Financials  

15.8.3. Recent Developments

15.8.4. Key Personnel/Key Contact Person

15.8.5. Key Product/Services Offered

15.9.            Gazprom International Limited

15.9.1. Business Overview

15.9.2. Key Revenue and Financials  

15.9.3. Recent Developments

15.9.4. Key Personnel/Key Contact Person

15.9.5. Key Product/Services Offered

15.10.         ENI S.p.A.

15.10.1.              Business Overview

15.10.2.              Key Revenue and Financials  

15.10.3.              Recent Developments

15.10.4.              Key Personnel/Key Contact Person

15.10.5.              Key Product/Services Offered

16. Strategic Recommendations

17. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Liquefied Petroleum Gas Storage Market was USD 82.4 Billion in 2023.

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In 2023, the above-ground segment was the dominant storage type in the Global Liquefied Petroleum Gas (LPG) Storage Market. This dominance is attributed to its easier installation, lower maintenance costs, and better accessibility compared to underground storage options.

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Asia Pacific emerged as the dominant region in the Global Liquefied Petroleum Gas (LPG) Storage Market, driven by rapid industrialization, urbanization, and increasing energy demand. The region's significant investments in LPG infrastructure and storage facilities further bolster its market leadership.

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The major drivers for the Global Liquefied Petroleum Gas (LPG) Storage Market include increasing energy demand, transition to cleaner energy sources, industrial growth and applications, infrastructure development, and technological advancements in storage solutions.

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Parvati Sharma

Account Manager BD
Press Release

Liquefied Petroleum Gas Storage Market is expected to grow at a CAGR of 1.5% through 2029

Oct, 2024

The Global Liquefied Petroleum Gas Storage Market is rising due to increasing demand for cleaner energy sources and versatile fuel applications worldwide in the forecast period 2025-2029F.

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