The Report Cube which is one of the leading market research company in UAE expects the Propane Market to grow at a CAGR of around 6.27% through 2032, as highlighted in their latest research report. The study provides an in-depth analysis of the emerging trends shaping the Propane Market and offers detailed forecasts for its potential growth during 2026–2032. The report also presents a comprehensive assessment of the competitive landscape, including profiles of leading players, their performance metrics, and recent strategic developments. Additionally, it explores the key market drivers, challenges, opportunities, and provides insights into historical and future revenue trends at the global, regional, and country levels.
Propane Market Overview:
Market Size (2025): USD 67.87 billion
Market Size (2032): USD 97.78 billion
CAGR (2026–2032): 6.27%
Top Companies in Propane Market: Saudi Arabian Oil Company (Saudi Aramco), BP PLC, ConocoPhillips Company, Eni S.p.A., PJSC Gazprom, Others.
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US LiDAR Industry Recent News and Developments:
Saudi Arabian Oil Company (Saudi Aramco) signed a long-term agreement to extend propane production for domestic petrochemical industries, improving the regional supply chain.
BP PLC launched a clean fuel strategy that includes investment in renewable propane infrastructure in the UK & EU markets.
ConocoPhillips Company elevated its propane production capacity by growing shale gas extraction in the US, safeguarding a better supply amid increasing demand for propane.
PJSC Gazprom signed an export agreement with China to supply liquefied propane for industrial employment, supporting the increasing energy demands in Asia-Pacific.
Key Growth Drivers of the Propane Market:
Driver: Elevated Demand for Clean & Efficient Fuel to Drive the Industry
The increasing global emphasis on clean energy has substantially driven the demand for propane as a cleaner-burning substitute for customary fossil fuels. Also, unlike coal or gasoline, propane releases fewer greenhouse gases, making it a favored fuel in residential, agricultural, and industrial applications. Moreover, its portability, cost-effectiveness, and low maintenance needs further strengthen its demand across several end-use sectors, such as power generation & heating fuel.
Propane Market Segmentation
The global propane market is segmented by grade, form, end use, and region. HD-5 and HD-10 propane dominate by grade, while liquid propane leads in form. Residential and commercial sectors are the primary end users. North America holds the largest regional share, followed by Europe and Asia-Pacific.
- Market Share, By Grade
- HD-5 Propane
- HD-10 Propane
- Commercial Propane
- Market Share, By Form
- Liquid
- Gas
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- Market Share, By End Use
- Residential
- Commercial
- Transportation
- Industrial
- Others
- Market Share, By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Note:
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