LPG Hose Market Size was valued at USD XX Billion in 2022. The LPG Hose Market industry is projected to grow from USD XX Billion in 2023 to USD XX Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.00% during the forecast period (2024 - 2032). Increasing adoption of LPG as a clean fuel and growing demand for residential and commercial applications are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The growing knowledge of the benefits associated with the use of LPG is driving the market CAGR of the LPG hose. Growing public awareness of the benefits of utilizing LPG to replace fossil fuels, as well as increased usage of clean, green energy sources in established and emerging countries, are two factors that are projected to drive the LPG market's growth. Furthermore, technological considerations, as well as a rising number of government efforts targeted at educating rural communities on the benefits of switching from LPG to traditional cooking fuels such as kerosene, wood, and coal, are expected to play an important role in the industry's growth.
The market is expected to grow due to an increasing population and rising demand for liquefied petroleum gas as a car emission gas. Furthermore, the high cost of installing liquefaction process equipment and technology may have an impact on demand and limit market growth throughout the forecast period. Increased government activities in countries such as India, Indonesia, and China are projected to boost the usage of liquefied petroleum gas in the next years due to the long-term benefits of using it as a cooking fuel.
LPG is increasingly being considered a viable option for commercial assets when paired with low-carbon and renewable technologies to provide a constant year-round electrical supply while lowering carbon emissions. In the coming years, the liquefied petroleum gas industry's increasing R&D is expected to drive market expansion.
Demand is predicted to rise during the projection period as more people relocate to Africa, Asia Pacific, and Central and South America, where LPG is commonly used for cooking. For instance, in India, liquefied petroleum gas is used for more than 60%-75% of household functions such as heating and cooking. Thus, driving the Liquefied Petroleum Gas (LPG) market revenue.
The LPG Hose Market segmentation, based on source, includes refinery, associated gas, and non-associated gas. In 2022, the non-associated gas category had the largest market share. Non-associated gas refers to gas that is not directly related to oil production. This category dominated the LPG Hose Market, showing that a considerable amount of LPG hose demand originated from sources other than oil production. This could include natural gas processing plants, refineries, or other industries that utilize LPG. Fuel sources differ by region, for instance, in North America, the majority of the gas originates from natural gas processing facilities. Asia Pacific's output is dependent on its refineries. Refineries are one of the primary locations where gas is produced on a global basis. Product supply is expected to increase in the next years as refining capacity expands, particularly in Saudi Arabia, Brazil, India, and China.
Figure 1: LPG Hose Market, by Source, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The LPG Hose Market segmentation, based on application, includes residential/commercial, chemical, industrial, Autogas, refinery, and others. The residential/commercial category dominates the market throughout the forecast period, owing to increased household LPG use for cooking, power production, and water and space heating. Furthermore, because LPG is energy-efficient, environmentally benign, and inexpensive, it is widely used in residential applications, which fuels the segment.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North America LPG Hose Market area will dominate this market, Liquefied petroleum gas is viewed as having the largest growth potential in North America, with the United States being the primary LP gas exporter. In 2018, the United States produced around 234,000 metric tonnes of LP gas from natural gas and 10,000 metric tonnes from its refineries. The Energy Information Administration forecasts that the United States produced roughly 33.4 trillion cubic feet (Tcf) of dry natural gas in 2020, or an average of 91.4 billion cubic feet per day, implying that natural gas is the primary fuel source for the production of LP gas.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: LPG Hose Market Share By Region 2023 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe LPG Hose Market accounts for the second-largest market share because of the existence of major market participants in the region. Furthermore, the presence of a huge consumer base in the countries that utilize LPG for numerous applications such as agricultural, construction, residential, and transportation is projected to drive the market in the area. Further, the German LPG Hose Market held the largest market share, and the UK LPG Hose Market was the fastest-growing market in the European region.
The Asia-Pacific LPG Hose Market is expected to grow at the fastest CAGR from 2018 to 2030. This is due to the increasing population, there is a growing demand for LPG for various uses. Furthermore, countries in the region have an abundance of resources and energy requirements. Moreover, China’s LPG Hose Market held the largest market share, and the Indian LPG Hose Market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the LPG Hose market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the LPG Hose industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global LPG Hose industry to benefit clients and increase the market sector. In recent years, the LPG Hose industry has offered some of the most significant advantages to medicine. Major players in the LPG Hose market, including Repsol, China Gas Holdings Ltd., Saudi Arabian Oil Co., FLAGA GmbH, Kleenheat, Bharat Petroleum Corporation Limited, JGC HOLDINGS CORPORATION, Phillips 66 Company, Chevron Corporation, Reliance Industries Limited, Exxon Mobil Corporation, Total and others, are attempting to increase market demand by investing in research and development operations.
TotalEnergies SE is a French multinational integrated energy and petroleum corporation that was established in 1924 and is one of the seven supermajor oil firms. It operates across the whole oil and gas value chain, from crude oil and natural gas exploration and production to power generation, transportation, refining, petroleum product marketing, and international crude oil and product trading. TotalEnergies is a large-scale chemical producer. The corporation was created following World War I, when petroleum was viewed as critical in the event of a new war with Germany. The then-French President Raymond Poincaré rejected the notion of forging a partnership with Royal Dutch Shell in favor of establishing a completely French oil business. In March 2021, TotalEnergies introduced new LPG cutting gas to improve customer safety and operational performance, particularly in the metal-cutting business. Through product launch, the company hopes to provide a cost-effective, safe metal-cutting solution with improved performance.
Indian Oil Corporation Limited is an Indian oil and gas business owned by the Ministry of Petroleum and Natural Gas, Government of India. It is a public sector project based in New Delhi, with operations managed by the Ministry of Petroleum and Natural Gas. Indian Oil is 94th on the Fortune Global 500 list of the world's largest firms as of 2022. It is the country's largest government-owned oil producer, both in terms of capacity and revenue. In February 2022, Indian Oil Corporation Ltd announced the start-up of three LPG output units in India's northeast. This initiative aimed to boost LPG packing capacity by approximately 53% to meet rising demand.
In March 2021, Total Oil India Private Ltd. developed its most recent LPG-cutting gas product, which is specifically designed for the metal-cutting business. This item is manufactured at a large LPG factory in Bangalore, Namakkal, and Madurantacam. The release of this product expands the company's product offering.
In May 2020, Royal Dutch Shell plc established a sophisticated LNG processing facility in Nigeria. Once operational, the facility will add approximately 8 million tonnes to the Bonny Island complex's present yearly output of 30 million tonnes. The Nigerian National Petroleum Corporation (NNPC) controls 49% of this joint venture, along with Royal Dutch Shell plc, Total (15%), and ENI (10.4%).
| Report Attribute/Metric | Details |
| Market Size 2022 | USD XX Billion |
| Market Size 2023 | USD XX Billion |
| Market Size 2032 | USD XX Billion |
| Compound Annual Growth Rate (CAGR) | 6.00% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Source, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Repsol, China Gas Holdings Ltd., Saudi Arabian Oil Co., FLAGA GmbH, Kleenheat, Bharat Petroleum Corporation Limited, JGC HOLDINGS CORPORATION, Phillips 66 Company, Chevron Corporation, Reliance Industries Limited, Exxon Mobil Corporation, Total, Royal Dutch Shell, Petroliam Nasional Berhad (PETRONAS), PetroChina Company Limited, Petredec Pte Limited, Qatargas Operating Company Limited, Petrofac Limited, Vitol, China Petroleum & Chemical Corporation, BP Plc. |
| Key Market Opportunities | Expansion of LPG infrastructure and distribution networks |
| Key Market Dynamics | Technological advancements in LPG hose materials and designs |
Frequently Asked Questions (FAQ) :
The LPG Hose Market size was valued at USD XX Billion in 2023.
The global market is projected to grow at a CAGR of 6.00% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Repsol, China Gas Holdings Ltd., Saudi Arabian Oil Co., FLAGA GmbH, Kleenheat, Bharat Petroleum Corporation Limited, JGC HOLDINGS CORPORATION.
The non-associated gas category dominated the market in 2023.
The residential/commercial category had the largest share in the global market.
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