오토가스 시장 예측(-2030년) : 연료 유형별, 컴포넌트별, 용도별, 최종사용자별, 지역별 세계 분석

According to Stratistics MRC, the Global Autogas Market is accounted for $55.9 billion in 2024 and is expected to reach $80.2 billion by 2030, growing at a CAGR of 6.2% during the forecast period. A cleaner alternative fuel for automobiles is autogas, which is a form of liquefied petroleum gas (LPG). Internal combustion engines frequently use it, and its main constituents are butane and propane. As it emits fewer emissions than conventional gasoline or diesel, autogas is preferred as an environmentally friendly alternative. It is popular in nations with well-established refueling infrastructure because it provides affordable and eco-friendly fuel for both private and commercial automobiles.

According to worldliquidgas, globally, there are 28.3 million Autogas vehicles in operation, with approximately 82,000 refueling stations worldwide.

Market Dynamics:

Driver:

Growing awareness about climate change

Growing environmental consciousness and climate change concerns are driving significant growth in the autogas market. LPG as an automotive fuel emits up to 20% less CO2 compared to gasoline and produces significantly lower levels of harmful pollutants. The fuel demonstrates among the lowest life-cycle greenhouse gas emissions of all commercially available fuels. In urban areas, particularly, autogas vehicles emit 98% less nitrogen oxides than diesel cars and 90% less particulate matter than gasoline cars under real driving conditions. This environmental performance has made it an attractive option for governments and consumers seeking to reduce their carbon footprint.

Restraint:

Limited refueling infrastructure

The scarcity of autogas refueling stations, particularly in rural areas and developing countries, discourages potential consumers from adopting LPG-powered vehicles due to concerns about refueling convenience. This infrastructure gap requires substantial investments and coordination between government bodies, fuel providers, and private entities. While autogas can leverage existing gasoline distribution networks, the limited availability of refueling stations continues to impact market penetration.

Opportunity:

Growing OEM adoption

Growing OEM adoption represents a significant opportunity in the autogas market as major automakers like Volkswagen, Ford, and Dacia are increasingly offering factory-fitted LPG variants of their popular models. This trend is particularly strong in Europe, where OEM-fitted autogas vehicles provide consumers with pre-optimized LPG systems. In India, major manufacturers like Maruti Suzuki, Tata Motors, and Hyundai are being urged to adopt Auto LPG due to its cost-effectiveness and environmental benefits. The factory-fitted systems help boost market acceptance and provide consumers with reliable, manufacturer-backed Autogas solutions.

Threat:

Fluctuating fuel prices

Fluctuating fuel prices pose a significant challenge in the autogas market, creating uncertainty for both consumers and suppliers. Price volatility is primarily driven by changes in global crude oil prices, exchange rate fluctuations, and geopolitical tensions. These unpredictable price swings affect consumer purchasing decisions and make it difficult for businesses to maintain stable pricing strategies. Additionally, when prices rise significantly, it can lead to reduced consumption and impact the overall market demand, potentially causing consumers to consider alternative fuel sources. This volatility also complicates long-term planning and investment decisions for businesses in the autogas sector.

Covid-19 Impact:

The autogas market showed resilience during the COVID-19 pandemic. The market remained fragmented, with major players including BP Plc, Chevron Corp., and Royal Dutch Shell Plc adapting to changing conditions. While transportation fuel demand decreased during lockdowns, LPG gained importance as an essential energy source, particularly in residential use. The market's growth was primarily driven by the rising need for cleaner fuel, with both Light Duty Vehicles (LDV) and Heavy Duty Vehicles (HDV) segments maintaining steady development.

The light duty vehicles (LDV) segment is expected to be the largest during the forecast period

The light-duty vehicle (LDV) segment is expected to dominate the autogas market during the forecast period due to the increasing adoption of autogas as a cleaner and more cost-effective alternative to conventional fuels. LDVs, such as passenger cars and small trucks, are the largest consumers of automotive fuel, and autogas offers significant benefits in terms of lower emissions and reduced fuel costs. Additionally, government incentives and regulations favoring cleaner fuels are driving the transition towards autogas in the LDV segment, further boosting its market share.

The butane segment is expected to have the highest CAGR during the forecast period

The butane segment is expected to experience the highest CAGR in the autogas market due to its favorable properties, such as higher energy content and better performance at lower temperatures compared to propane. Butane is increasingly being adopted as an alternative fuel due to its lower emissions and cost-effectiveness. Additionally, advancements in infrastructure and regulations promoting cleaner fuels are driving the demand for butane in autogas applications. Its compatibility with existing engine technologies and growing environmental concerns further fuel its adoption, contributing to its rapid market growth.

Region with largest share:

The Asia Pacific region is projected to dominate the autogas market due to rapid urbanization, rising vehicle ownership, and increasing demand for cleaner energy alternatives. Countries like China, India, and Japan are leading the shift towards autogas as a cost-effective and environmentally friendly fuel option. Government policies promoting the use of LPG and autogas infrastructure development further bolster the market. Additionally, the region's large automotive industry, along with growing concerns over air pollution and fuel efficiency, is driving the adoption of autogas in this area.

Region with highest CAGR:

The Asia Pacific region is projected to achieve the highest CAGR in the autogas market due to factors such as rapid urbanization, increasing vehicle ownership, and a strong push for sustainable fuel solutions. Governments across the region are implementing favorable policies and incentives to promote cleaner fuels like autogas, which offers cost savings and reduced emissions. Additionally, the expansion of autogas refueling infrastructure and growing environmental awareness in countries such as China, India, and Southeast Asia contribute to the region's robust market growth potential.

Key players in the market

Some of the key players in Autogas Market include BP Plc., Sinopec Corp., Abu Dhabi National Oil Company (ADNOC), Exxon Mobil Corporation, Indian Oil Corporation Ltd., Bharat Petroleum Corporation Limited, Chevron Corporation, Hindustan Petroleum Corporation Limited, Reliance Petroleum Ltd., Phillips 66 Company, Saudi Aramco, Repsol, Eni S.p.A., OMV Group, ConocoPhillips, and QatarEnergy.

Key Developments:

In November 2024, BP has completed its acquisition of the remaining 50.03% interest in Lightsource BP, one of the world's leading developers and operators of utility-scale solar and battery storage assets. While BP will take on full ownership, Lightsource BP will retain its standalone operating model and independent brand, delivering renewable and affordable energy to businesses and communities across the world. BP will look to unlock further value by bringing a strategic partner into the business in due course.

In October 2024, Australia - Esso Australia Pty Ltd ('Esso Australia', a subsidiary of ExxonMobil Australia Pty Ltd and operator of the Gippsland Basin Joint Venture (a 50-50 joint venture between Esso Australia Resources Pty Ltd [Esso] and Woodside Energy Pty Ltd.) announced that it has safely completed the Kipper Compression Project, maintaining crucial natural gas supplies for the domestic market.

In August 2024, BP has now completed its acquisition of GETEC ENERGIE GmbH, a leading supplier of energy to commercial and industrial (C&I) customers in Germany. Agreement for this deal was announced in January 2024. The acquisition of GETEC ENERGIE GmbH will accelerate the growth of bp's European gas and power presence, as well as providing opportunities to grow integrated lower carbon energy solutions for C&I energy customers in Germany and elsewhere in Europe.

Fuel Types Covered:

• Propane
• Butane

Components Covered:

• Fuel Storage Systems
• Fuel Delivery Systems
• Engine Modification Systems
• Safety and Monitoring Systems
• Emission Control Components
• Other Components

Applications Covered:

• Light Duty Vehicles (LDV)
• Heavy Duty Vehicles (HDV)
• Other Applications

End Users Covered:

• Residential
• Commercial
• Transportation
• Industrial

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Autogas Market, By Fuel Type

• 5.1 Introduction
• 5.2 Propane
• 5.3 Butane

6 Global Autogas Market, By Component

• 6.1 Introduction
• 6.2 Fuel Storage Systems
• 6.3 Fuel Delivery Systems
• 6.4 Engine Modification Systems
• 6.5 Safety and Monitoring Systems
• 6.6 Emission Control Components
• 6.7 Other Components

7 Global Autogas Market, By Application

• 7.1 Introduction
• 7.2 Light Duty Vehicles (LDV)
  • 7.2.1 Passenger Cars
  • 7.2.2 Taxis
  • 7.2.3 Ride-hailing Services
• 7.3 Heavy Duty Vehicles (HDV)
  • 7.3.1 Commercial Buses
  • 7.3.2 Trucks
  • 7.3.3 Other Heavy Duty Vehicles (HDV)
• 7.4 Other Applications

8 Global Autogas Market, By End User

• 8.1 Introduction
• 8.2 Residential
• 8.3 Commercial
• 8.4 Transportation
• 8.5 Industrial

9 Global Autogas Market, By Geography

• 9.1 Introduction
• 9.2 North America
  • 9.2.1 US
  • 9.2.2 Canada
  • 9.2.3 Mexico
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 UK
  • 9.3.3 Italy
  • 9.3.4 France
  • 9.3.5 Spain
  • 9.3.6 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 Japan
  • 9.4.2 China
  • 9.4.3 India
  • 9.4.4 Australia
  • 9.4.5 New Zealand
  • 9.4.6 South Korea
  • 9.4.7 Rest of Asia Pacific
• 9.5 South America
  • 9.5.1 Argentina
  • 9.5.2 Brazil
  • 9.5.3 Chile
  • 9.5.4 Rest of South America
• 9.6 Middle East & Africa
  • 9.6.1 Saudi Arabia
  • 9.6.2 UAE
  • 9.6.3 Qatar
  • 9.6.4 South Africa
  • 9.6.5 Rest of Middle East & Africa

10 Key Developments

• 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 10.2 Acquisitions & Mergers
• 10.3 New Product Launch
• 10.4 Expansions
• 10.5 Other Key Strategies

11 Company Profiling

• 11.1 BP Plc.
• 11.2 Sinopec Corp.
• 11.3 Abu Dhabi National Oil Company (ADNOC)
• 11.4 Exxon Mobil Corporation
• 11.5 Indian Oil Corporation Ltd.
• 11.6 Bharat Petroleum Corporation Limited
• 11.7 Chevron Corporation
• 11.8 Hindustan Petroleum Corporation Limited
• 11.9 Reliance Petroleum Ltd.
• 11.10 Phillips 66 Company
• 11.11 Saudi Aramco
• 11.12 Repsol
• 11.13 Eni S.p.A.
• 11.14 OMV Group
• 11.15 ConocoPhillips
• 11.16 QatarEnergy