According to the recent study the global LPG cylinder market is projected to reach an estimated $3 billion by 2030 from $2 billion in 2023, at a CAGR of 4% from 2023 to 2030. Growth in this market is primarily driven by increasing use of liquefied petroleum gas as a fuel source and lack of infrastructure for the transportation of piped natural gas (PNG).
Browse 107 figures/charts
and 68 tables in this 205-page report to understand trends, opportunities and
forecast in 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).
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.
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LPG cylinder market.
Household will remain
the largest segment over the forecast period due to increasing use of liquefied
petroleum gas as a fuel for cooking and unavailability of gas pipeline network.
Automotive LPG cylinder is expected to witness highest growth ove rthe forecast
period.
APAC is expected to
remain the largest market 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. Europe Is expected to witness highest
growth over the forecast period.
Worthington Industries,
Sahamitr Pressure Container, Hexagon Composites, Mauria Udyog, Huanri are the
major suppliers in the LPG cylinder market.
This unique 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 write us at helpdesk@lucintel.com.
About Lucintel
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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