IMARC Group, a leading market research company, has recently releases report titled “Auto Gas Market Report by Type (Propane, Butane, and Others), Vehicle Type (Passenger cars, Commercial vehicles), and Region 2024-2032.” The study provides a detailed analysis of the industry, including the global auto gas market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the auto gas market?

The global auto gas market size reached US$ 51.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 78.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.

What is auto gas?

Auto gas, also known as autogas or automotive liquefied petroleum gas (LPG), is a type of fuel used in internal combustion engines, particularly vehicles. It is a mixture of propane and butane, hydrocarbon gases derived from natural gas or petroleum refining processes. It is commonly used as an alternative to gasoline (petrol) or diesel fuel, to use auto gas, vehicles must be equipped with specific conversion kits or have original equipment manufacturer (OEM) systems designed for autogas. These kits or systems allow the engine to run on auto gas and gasoline, providing flexibility and a smooth transition between fuels. It offers several benefits, such as cost-effectiveness, offers cleaner-burning fuel, and produces lower emissions of harmful pollutants, resulting in improved air quality and reduced environmental impact. Additionally, auto gas refueling stations are relatively widespread, particularly in countries and regions where its usage is prevalent. Many gasoline stations offer auto gas as an additional fuel option, enabling drivers to conveniently refill their vehicles.

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What are the growth prospects and trends in the auto gas industry?

The market is primarily driven by the increasing focus on environmental sustainability. In addition, the growing environmental awareness and concerns over climate change and air pollution continue to grow, influencing governments and regulatory bodies to implement stringent emissions standards and encourage the adoption of cleaner fuels, thus propelling the market growth. In line with this, governments often provide incentives, subsidies, and tax benefits to promote the use of auto gas, further enhancing its cost advantages. Also, autogas offers significant environmental advantages, emitting lower levels of harmful pollutants such as carbon dioxide, nitrogen oxides, and particulate matter compared to conventional fuels, leading to the rising demand for auto gas as a cleaner and greener transportation fuel, augmenting the market growth.

Moreover, the versatility of auto gas applications in numerous vehicles, including cars, taxis, buses, and commercial fleets, represents another major growth-inducing factor. This versatility makes it an attractive choice for various industries, such as logistics, transportation, and public services. Along with this, technological advancements have made it easier to convert existing gasoline and diesel vehicles to run on autogas, further contributing to its market growth. Besides this, the changing consumer preferences toward auto gas due to the increasing fuel prices are accelerating the market growth. Auto gas provides a stable and affordable fuel option, enabling businesses to reduce operational costs and improve their bottom line. Furthermore, the increasing availability and infrastructure development for auto gas and the establishment of a robust and widespread refueling infrastructure to ensure the convenience and accessibility of auto gas for consumers and businesses are also driving the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Type Insights:

  • Propane
  • Butane
  • Others

Vehicle Type Insights:

  • Passenger cars
  • Commercial vehicles

Breakup by Region:

  • North America (U.S. Canada)
  • Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
  • Latin America (Brazil, Mexico)
  • Middle East Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • Aygaz A.S.
  • BP plc
  • China Petroleum & Chemical Corporation (China Petrochemical Corporation)
  • Flogas Britain Limited (DCC plc)
  • Lange Gas
  • Likitgaz Dagitum ve Endustri Anonim Sirketi
  • Shell Plc
  • SHV Energy N.V.
  • Total Energies SE
  • Westfalen

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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