Growth Opportunities in the Global LPG Cylinder Market

According to a new market report published by Lucintel, 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).
In this market, metal LPG cylinder and composites LPG cylinder are the major cylinder type of LPG cylinder. 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.
Within the LPG cylinder market, 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.
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. Worthington Industries, Sahamitr Pressure Container, Hexagon, Mauria Udyog, and Huanri companies are among the major suppliers of LPG cylinders.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global LPG cylinder market by application, cylinder type, material type, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global LPG Cylinder Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global LPG cylinder market by application, cylinder type, material type, and region as follows:
This 176-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/lpg-cylinder-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
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.10 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.11 What M & A activities have taken place in the last 5 years in this market?