LPG Cylinder: Trends, Forecast and Competitive Analysis

LPG Cylinder Market Trends and Forecast

The future of the LPG cylinder market looks promising with opportunities in the household, automobile, and leisure and others application. The global LPG cylinder market is expected to reach an estimated $2.9 billion by 2027 with a CAGR of 4.9% from 2021 to 2027. The major growth drivers for this market are increasing use of liquefied petroleum gas as a fuel source and lack of infrastructure for the transportation of piped natural gas (PNG).

Evolution of LPG Cylinder Opportunities

LPG cylinder opportunities have evolved through a number of stages as presented in figure below:

Emerging Trends in the LPG Cylinder Market

Emerging trends, which have a direct impact on the dynamics of the industry, includes switching from steel to composite LPG cylinders and extending size range of composite lpg cylinders to meet the needs of different consumers.

A total of 124 figures / charts and 108 tables are provided in this 176-page report to help in your business decisions. Learn the scope of benefits, companies researched, and other details of the LPG cylinder market report.

LPG Cylinder Market by Segment

The study includes trends and forecast for the global LPG cylinder market by application, cylinder type, material type, and region as follows:

LPG Cylinder Market by Application [Value ($M) and volume (Million Units) shipment analysis for 2016 - 2027]:

• Household
• Automobile
• Leisure and Others

LPG Cylinder Market by Cylinder Type [Value ($M) and volume (Million Units) shipment analysis for 2016 - 2027]:

• Metal
• Composites

LPG Cylinder Market by Material Type [Value ($M) and volume (Million Units) shipment analysis for 2016 - 2027]:

• Glass Fiber Composites
• Metal
• Others

LPG Cylinder Market by Region [Value ($M) and volume (Million Units) shipment analysis for 2016 - 2027]:

• North America

US

• Europe

Germany

Italy

• Asia Pacific

China

India

Thailand

• The Rest of the World

South Africa

List of LPG Cylinder Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies LPG cylinder companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the LPG cylinder companies profiled in this report includes.

• Worthington Industries
• Sahamitr Pressure Container
• Hexagon Composites
• Mauria Udyog
• Time Technoplast
• Supreme Industries
• Huanri Group
• Metal Mate

LPG Cylinder Market Insight

• Lucintel forecasts that metal LPG cylinder will remain the largest segment due to lower cost as compared to composite cylinders and low penetration of gas pipeline network in developing countries are likely to drive the demand for this segment over the forecast period. Composite cylinder segment is expected to witness the highest growth during the forecast period supported by lightweight, and its non-corrosive properties.
• Household will remain the largest segment and it is also expected to witness highest growth during the forecast period due to increasing use of liquefied petroleum gas as a fuel for cooking and unavailability of gas pipeline network.
• APAC is expected to remain the largest market and it is also expected to witness the highest growth over the forecast period due to LPG being the major source of cooking fuel in most of the countries and the lack of infrastructure for piped natural gas in this region.

Features of LPG Cylinder Market

• Market Size Estimates: LPG cylinder market size estimation in terms of value ($M) and volume (Million Units)
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
• Segmentation Analysis: Market size by application, cylinder type, material type, and region
• Regional Analysis: LPG cylinder market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different application, cylinder type, material type, and regions for the LPG cylinder market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the LPG cylinder market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the LPG cylinder market size?

Answer: The global LPG cylinder market is expected to reach an estimated $2.9 billion by 2027.

Q2. What is the growth forecast for LPG cylinder market?

Answer: The LPG cylinder market is expected to grow at a CAGR of 4.9% from 2021 to 2027.

Q3. What are the major drivers influencing the growth of the LPG cylinder market?

Answer: The major growth drivers for this market are increasing use of liquefied petroleum gas as a fuel source and lack of infrastructure for the transportation of piped natural gas (PNG).

Q4. What are the major applications or end use industries for LPG cylinder?

Answer: Household and leisure and others are the major application for LPG cylinder.

Q5. What are the emerging trends in LPG cylinder market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, includes switching from steel to composite LPG cylinders and extending size range of composite LPG cylinders to meet the needs of different consumers.

Q6. Who are the key LPG cylinder companies?

Answer: Some of the key LPG cylinder companies are as follows:

• Worthington Industries
• Sahamitr Pressure Container
• Hexagon Composites
• Mauria Udyog
• Time Technoplast
• Supreme Industries
• Huanri Group
• Metal Mate

Q7. Which LPG cylinder cylinder type segment will be the largest in future?

Answer: Lucintel forecasts that metal LPG cylinder will remain the largest segment due to lower cost as compared to composite cylinders and low penetration of gas pipeline network in developing countries are likely to drive the demand for this segment over the forecast period. Composite cylinder segment is expected to witness the highest growth during the forecast period supported by lightweight, and its non-corrosive properties.

Q8 : In LPG cylinder market, which region is expected to be the largest in next 5 years?

Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1 What are some of the most promising potential, high growth opportunities for the global LPG cylinder market by application (household, automobile, and leisure and others), cylinder type (metal and composites), material type (glass fiber composites, metal, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q. 2 Which segments will grow at a faster pace and why?
• Q.3 Which regions will grow at a faster pace and why?
• Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
• Q.5 What are the business risks and threats to the market?
• Q.6 What are the emerging trends in this market and the reasons behind them?
• Q.7 What are the changing demands of customers in the market?
• Q.8 What are the new developments in the market? Which companies are leading these developments?
• Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
• Q.1 0 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
• Q.1 1 What M & A activities have taken place in the last 5 years in this market?