According to the report by Expert Market Research (EMR), the Europe LPG market size is projected to grow at a CAGR of 5.80% between 2024 and 2032. Aided by the rising environmental concerns and the ever-increasing demand for cleaner energy sources, the market is expected to grow significantly by 2032.
Liquefied Petroleum Gas, commonly known as LPG, comprises propane and butane, which are hydrocarbon gases utilised as a fuel in heating appliances, vehicles, and cooking equipment. LPG is renowned for its ecological attributes; it emits lesser pollutants compared to coal or oil, making it an environmentally viable alternative. The European landscape is increasingly pushing for greener alternatives, and LPG, being both efficient and eco-friendly, finds itself at the forefront of this energy shift.
The impetus driving the Europe LPG market growth is multi-faceted. One of the paramount factors is the stringent environmental regulations introduced by European governments. These regulations mandate reduced greenhouse gas emissions and encourage the adoption of LPG, primarily due to its lower carbon emissions compared to traditional fuels. Moreover, the European Union’s commitment to the Paris Agreement further underlines the transition to LPG and other green energy sources.
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As per the Europe LPG market analysis, another significant driver is the rising consumer awareness regarding the environmental and health implications of fossil fuels. As Europeans are becoming progressively conscious of their carbon footprints, the switch to LPG, especially in sectors like domestic heating and transportation, has witnessed a substantial uptick.
LPG’s versatility lends itself to a wide range of applications, further amplifying the Europe LPG market demand. In the automotive sector, the increasing number of LPG-fuelled vehicles, buoyed by the lower fuel costs and reduced emissions, is notable. In addition, sectors like agriculture and industry are leveraging LPG for its efficiency and comparatively reduced environmental impact.
The cosmetic and petrochemical industries in Europe also provide an impetus to the LPG market. LPG serves as a pivotal component in the production of various cosmetics, plastics, and synthetic rubbers. With Europe being home to some of the world’s largest cosmetic brands and a thriving petrochemical sector, the value of the Europe LPG market size is expected to increase.
Europe LPG Market Segmentation
The market can be divided based on application and country.
Market Breakup by Application
- Household
- Commercial
- HoReCa
Industrial
Mobility
- HoReCa
- Others
Market Breakup by Country
- Germany
- United Kingdom
- France
- Spain
- Russia
- Italy
- Netherlands
- Belgium
- Others
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Competitive Landscape of Europe LPG Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Europe LPG Market. Some of the major players explored in the report by Expert Market Research are as follows:
- BP Plc
- Total S.A.
- DCC Plc
- UGI International
- SHV Energy
- ELPGon Mobil Corporation
- Chevron Corporation
- Others
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