According to ChemAnalyst report, “India Liquefied Petroleum Gas (LPG) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030”, The India Liquefied Petroleum Gas (LPG) Market is likely to reach around 38 MMTPA by FY2030, at a CAGR of 4% during the forecasted period. The end-use industries like Residential, Commercial, and Industrial are anticipated to accelerate the Liquefied Petroleum Gas (LPG) Market expansion in India in the forthcoming years.
Liquefied petroleum gas, commonly known as LPG, is a combustible gas that runs companies and homes all over the world. The process of refining crude oil or processing natural gas yields liquefied petroleum gas. Propane and butane, either separately or in combination, constitute this gas. LPG is one of the most reliable fuels in many industries because of its superior industrial applications. Fuelling industrial ovens, furnaces, and other heating appliances is just one of the many industrial applications for liquefied petroleum gas (LPG). Other applications of LPG include galvanizing, metal melting, heat treatment, steam generation, etc.
The growing demand for clean cooking fuels in rural, as well as urban households, is expected to give a boost to the country’s LPG market in the forecast period. Due to its low sulphur content, low emissions of black carbon, and lack of spills, LPG is cleaner than the majority of other fossil fuels. Compared to the usage of other fossil fuels, its use helps keep our air clean and emissions of greenhouse gases at a limit. Support of the government in form of initiatives and subsidies to boost the sales of LPG is contributing to fuel the market growth. Demand from the household sector increased in the recent years. Support of the government in form of initiatives and subsidies to boost the sales of LPG is contributing to the market growth. Demand from the household sector increased in recent years. While the Pradhan Mantri Ujjwala Yojana (PMUY) offers free LPG stoves to low-income families, the Direct Benefit Transfer of LPG (DBTL) provides subsidies to the marginalized group of the nation. Furthermore, other government schemes like Ujjwala schemes to provide free LPG connections to women in below-poverty-line households across the nation are promoting the usage of LPG with a concern for women’s health. It is projected that other reasons, such as the embrace of various government efforts to promote the use of LPG in place of coal, wood, and kerosene for household cooking, in addition to rising urbanisation, across the nation is anticipated to fuel the LPG market furthermore.
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The India Liquefied Petroleum Gas (LPG) Market is segmented based on end-use, sales channel, and region. Based on end-use, the India Liquefied Petroleum Gas (LPG) market is segregated into Residential, Commercial, Industrial, and Others. In FY2022, the Residential industry made up approximately 87% of the domestic demand. This industry is anticipated to dominate the market even in the forthcoming years. In the upcoming years, the country’s LPG market is anticipated to expand because of rising household demand for clean cooking fuels in both rural and urban areas.
Regionally, Indian Liquefied Petroleum Gas (LPG) market is segregated into four regions based on regional consumption: West, South, North, and South. Based on the region, the Indian Liquefied Petroleum Gas (LPG) market is segregated into the West, South, North, and East. As of FY2022, North India has been leading the market followed by West India. in FY2022, North India held approximately 30% of the market.
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“India Liquefied Petroleum Gas (LPG) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030” Major players in the India Liquefied Petroleum Gas (LPG) market are Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation Limited, HPCL-Mittal Energy Limited, Chennai Petroleum Corporation Limited, Reliance Petroleum Limited, Nayara Energy Limited, Bharat Oman Refineries Limited, GAIL, Mangalore Refinery and Petrochemicals Limited, and others.
“Liquefied Petroleum Gas (LPG) is a clean and convenient fuel source with high calorific value and mainly used in households to run cooktops. LPG burns in a clean manner and leaves lesser carbon footprint than traditional fuels. The rapidly increasing demand of Liquefied Petroleum Gas (LPG) as a clean fuel in rural and urban households along with initiatives by the government to provide LPG cylinders on subsidized prices to marginalized population is expected to boost the India Liquefied Petroleum Gas (LPG) Market in the forecast period until FY2030. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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