India LPG Market Competition, Forecast and Opportunities, 2028

India LPG Market is anticipated to grow at a steady pace in the forecast period, 2023-2028, The country's LPG market is anticipated to develop in the next years because of the rising demand for clean cooking fuels in both rural and urban households. Additionally, it is anticipated that supportive government initiatives, such as the Pradhan Mantri Ujjwala Yojana (PMUY). This Beneficiaries scheme to make clean cooking fuel, such as LPG, available to rural and impoverished households, will continue to be the main driver of the LPG market growth in India.

Liquefied petroleum gas, also known as propane, is a flammable hydrocarbon gas that is frequently used as a safe, sulfur-free fuel. It contains trace amounts of other hydrocarbons besides butane (C4H10) and propane (C3H8). Because of its straightforward storage, LPG is an adaptable source of energy for businesses located in places without access to piped gas supply. It is preferred over several other energy fuels because it protects the environment by emitting less carbon and Sulphur during combustion. LPG is often used to process industries to fuel the boilers that create steam and boil water. Additionally, it is used as a home cooking fuel due to its high flash point and clean fuel with low GHG emission.

Increasing Government Initiatives and Support for LPG Adoption to Aid Market Dynamics

India's demand for LPG has grown significantly in recent years. India's LPG consumption increased by 5% from the previous fiscal year (FY2019-2020) to 27.6 million metric tonnes in FY2020-2021. During the projected period, it is anticipated that this tendency would continue and intensify, mostly due to the nation's supportive government measures. There are around 30.5 crore active LPG residential users in India as of April 2022, up from 14.9 crore customers in 2015. The number of home LPG consumers in the nation has significantly increased. Similarly, the number of LPG distributors in India increased from slightly under 9686 in 2010 and 15930 in 2015 to 25269 in April 2022. Additionally, during the past few years, India has seen an increase in LPG bottling factories. The number of LPG bottling plants reached 202 in 2021, according to the Petroleum and Planning & Analysis Cell (PPAC), as the nation's demand for LPG continued to climb. These changes have enabled India to increase its LPG coverage from about 56.2% in 2015 to 99.8% in 2021. During the forecast term, a comparable situation is anticipated to persist.

Increasing Utilization of LPG in Transportation as an Alternative Fuel to Augment Growth

Automobile liquefied petroleum gas, also known as LP gas or Autogas, is a common fuel for vehicles. Auto gas is the most extensively utilized non-blended alternative to traditional oil-based transport fuels like gasoline and diesel in terms of fleet size. In a few countries, the auto gas market is firmly established. Auto gas consumption has increased steadily over the past two decades, reaching a record high of 27.1 million tonnes in 2019 with an increase of 1% over the previous year. Although, demand has recently fallen, partially due to better fuel efficiency and a decline in the fleet of Autogas cars in several significant locations. The trends of different nations differ greatly, with some seeing strong market growth in 2019 while others seeing losses. The COVID-19 calamity is expected to cause a global pandemic in 2020, which will dramatically lower demand for Autogas and other transportation fuels in the short term. These elements are expected to raise demand for this gas during the forecast period.

Market Segmentation

The India LPG Market is divided into source, application, and supply mode. Based on source, the market is divided into Crude Oil Distillation, NGL & LNG Fractionation, and Imports. Based on Application, the market is divided into residential, commercial, industrial, transportation, and others. Based on supply mode, the market is segmented into packaged, bulk, and on-site.

Market Players

Major market players in the India LPG Market are Indian Oil Corporation Ltd, Hindustan Petroleum Corporation Ltd, Bharat Petroleum Corporation Ltd, Reliance Industries Ltd, Mangalore Refineries and Petrochemicals Ltd, GAIL India, Total India Pvt. Ltd., Essar oil Ltd, Aegis Logistics Ltd, and SHV Energy Pvt. Ltd.

Report Scope:

In this report, the India LPG Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

India LPG Market, By Source:

• Crude Oil Distillation
• NGL & LNG Fractionation
• Imports

India LPG Market, By Application:

• Residential
• Commercial
• Industrial
• Transportation
• Others

India LPG Market, By Supply Mode:

• Packaged
• Bulk
• On-site

India LPG Market, By Region:

• West India
• North India
• South India
• East India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India LPG Market.

Available Customizations:

India LPG Market report with the given market data, the publisher offers customizations according to a company's specific needs.


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