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Liquefied Petroleum Gas Cylinder Market by Type and Geography - Forecast and Analysis 2022-2026

  • Published: Apr 2022
  • Pages: 131
  • SKU: IRTNTR44277
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The predicted growth of the  liquefied petroleum gas (LPG) cylinder market share from 2021 to 2026 is USD 610.4 million at a progressing CAGR of 6.3%. 

This liquefied petroleum gas (LPG) cylinder market research report extensively covers liquefied petroleum gas (LPG) cylinder market segmentation by:

  • Type - Metal and Composite
  • Geography - APAC, North America, Middle East and Africa, Europe, and South America

The liquefied petroleum gas (LPG) cylinder market vendors are - Aburi Ltd., Apna Gas, Aygaz AS, Bhiwadi Cylinders Pvt. Ltd., CHEMET SA, FABER INDUSTRIE Spa, Hebei Baigong High pressure Vessel Co. Ltd., Hexagon Composites ASA, Jiangsu Minsheng Special Equipment Group Co. Ltd., Luxfer Holdings Plc, Mauria Udyog Ltd., McWane Inc., Metal Mate Co. Ltd., Sahamitr Pressure Container Plc, Sahuwala Cylinders Pvt. Ltd., Shandong Huanri Group Co. Ltd., The Supreme Industries Ltd., Time Technoplast Ltd., Vitkovice Milmet SA, and Worthington Industries Inc. among others.

What will the Liquefied Petroleum Gas (LPG) Cylinder Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Liquefied Petroleum Gas (LPG) Cylinder Market Size for the Forecast Period and Other Important Statistics

 

Liquefied Petroleum Gas (LPG) Cylinder Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing use of LPG in many applications is notably driving the liquefied petroleum gas (LPG) cylinder market growth, although factors such as availability of alternate fuels may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the liquefied petroleum gas (LPG) cylinder industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Liquefied Petroleum Gas (LPG) Cylinder Market Driver

  • One of the key factors driving growth in the liquefied petroleum gas (LPG) cylinder market is the increasing use of LPG in many applications.
  • LPG it is environment-friendly and is most commonly used as cooking gas because it is a clean and efficient fuel.
  • Traditional cooking fuels, such as firewood, charcoal, and kerosene, which produce harmful smoke and leave residues such as ash and soot. On the other hand, LPG leaves a lower carbon footprint and emits 70% lower greenhouse gases in comparison to traditional fuel used for cooking.
  • LPG is also used as an auto gas that is used to power vehicles, as it is cheaper than petrol and diesel fuels and emits low levels of greenhouse gases in comparison to petrol and diesel.
  • The increasing consumption and application of LPG in various industries has boosted the demand for its storage and transportation across various countries, which, in turn, will elevate the demand for LPG cylinders.

Key Liquefied Petroleum Gas (LPG) Cylinder Market Trend

  • The growing trend toward the adoption of composite LPG cylinders is a liquefied petroleum gas (LPG) cylinder market trend that is expected to have a positive impact in the coming years. 
  • Composite LPG cylinders are known for their lightweight, explosion-proof, and non-corrosive features.
  • The advanced fiberglass technology used while manufacturing composite cylinders make them much safer as they do not explode even in the case of fire or leakage.
  • The translucent composite cylinders allows consumers to see the level of gas contained in them, thereby preventing scams.
  • The introduction of composite cylinders, coupled with their multiple benefits, and the improved quality of service to cooking gas consumers are factors that will transform the LPG cylinder market in a big way.
  • This trend is likely to replace the current market, which is dominated by metal cylinders that often deliver less than the promised quantity of gas and are comparatively unsafe.

Key Liquefied Petroleum Gas (LPG) Cylinder Market Challenge

  • The availability of alternate fuels will be a major challenge for the liquefied petroleum gas (LPG) cylinder market during the forecast period. 
  • A large part of the population, especially in developing countries, considers traditional fuels, such as charcoal, coal, wood, animal waste, rice husks, and kerosene, as feasible, easily available, and cost-effective option which are available for sale in small affordable quantities.
  • The on-going challenge with such consumers in developing nations is that they hesitate to bear the cost of refilling LPG cylinders.
  • Solar cookers are a renewable and eco-friendly alternative that the advanced nations are working towards introducing into their kitchens.
  • Globally, governments are trying to install solar cookers in poorer communities that have limited access to fuel and power.
  • The availability of various alternative fuel options hinders the penetration of LPG and maintains its foothold in the market.

This liquefied petroleum gas (LPG) cylinder market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global liquefied petroleum gas (LPG) cylinder market as a part of the global oil and gas storage and transportation market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the liquefied petroleum gas (LPG) cylinder market during the forecast period.

Who are the Major Liquefied Petroleum Gas (LPG) Cylinder Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Aburi Ltd.
  • Apna Gas
  • Aygaz AS
  • Bhiwadi Cylinders Pvt. Ltd.
  • CHEMET SA
  • FABER INDUSTRIE Spa
  • Hebei Baigong High pressure Vessel Co. Ltd.
  • Hexagon Composites ASA
  • Jiangsu Minsheng Special Equipment Group Co. Ltd.
  • Luxfer Holdings Plc
  • Mauria Udyog Ltd.
  • McWane Inc.
  • Metal Mate Co. Ltd.
  • Sahamitr Pressure Container Plc
  • Sahuwala Cylinders Pvt. Ltd.
  • Shandong Huanri Group Co. Ltd.
  • The Supreme Industries Ltd.
  • Time Technoplast Ltd.
  • Vitkovice Milmet SA
  • Worthington Industries Inc.

 

This statistical study of the liquefied petroleum gas (LPG) cylinder market encompasses successful business strategies deployed by the key vendors. The liquefied petroleum gas (LPG) cylinder market is fragmented and the vendors are deploying growth strategies such as pricing and marketing strategies to compete in the market.

Product Insights and News

  • aygaz.com.tr - The company offers liquefied petroleum gas cylinders which is used for cooking, heating and lightning.

  • aygaz.com.tr - Through the gas and petroleum products segment, the company offers various types of petroleum products and household gas cylinders such as regular cylinders, tall cylinders with valves, and tall cylinders with mini valves, which contain 12 kg of LPG.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The liquefied petroleum gas (LPG) cylinder market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Liquefied Petroleum Gas (LPG) Cylinder Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the liquefied petroleum gas (LPG) cylinder market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Liquefied Petroleum Gas (LPG) Cylinder Market?

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44% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for liquefied petroleum gas (LPG) cylinder in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing use of LPG as cooking fuel and the lack of infrastructure for piped natural gas in this region will facilitate the liquefied petroleum gas (LPG) cylinder market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19, followed by the imposition of lockdowns, hampered the logistics and supply chain operations in the region. Several countries, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, were under a partial or full lockdown due to the COVID-19 pandemic in 2020. However, the resumption of operations in manufacturing hubs in 2021 after the lifting of the nationwide lockdowns in most countries in APAC, along with the successful vaccination drive across countries in this region, resulted in a V-shaped recovery of the LPG cylinder market in 2021 and it is anticipated to grow further during the forecast period.

What are the Revenue-generating Type Segments in the Liquefied Petroleum Gas (LPG) Cylinder Market?

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The liquefied petroleum gas (LPG) cylinder market share growth by the metal segment will be significant during the forecast period. The LPG cylinder market gained momentum when an increasing number of people became aware of the harmful effects of traditional fuels such as wood, coal, charcoal, animal waste, and kerosene. Factors such as the rise in disposable income, rapid urbanization, and the environment-friendly nature of LPG cylinders have boosted their use.

This report provides an accurate prediction of the contribution of all the segments to the growth of the liquefied petroleum gas (LPG) cylinder market size and actionable market insights on post COVID-19 impact on each segment.

 

Liquefied Petroleum Gas (LPG) Cylinder Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.3%

Market growth 2022-2026

$ 610.4 million

Market structure

Fragmented

YoY growth (%)

5.0

Regional analysis

APAC, North America, Middle East and Africa, Europe, and South America

Performing market contribution

APAC at 44%

Key consumer countries

US, China, India, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aburi Ltd., Apna Gas, Aygaz AS, Bhiwadi Cylinders Pvt. Ltd., CHEMET SA, FABER INDUSTRIE Spa, Hebei Baigong High pressure Vessel Co. Ltd., Hexagon Composites ASA, Jiangsu Minsheng Special Equipment Group Co. Ltd., Luxfer Holdings Plc, Mauria Udyog Ltd., McWane Inc., Metal Mate Co. Ltd., Sahamitr Pressure Container Plc, Sahuwala Cylinders Pvt. Ltd., Shandong Huanri Group Co. Ltd., The Supreme Industries Ltd., Time Technoplast Ltd., Vitkovice Milmet SA, and Worthington Industries Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Liquefied Petroleum Gas (LPG) Cylinder Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive liquefied petroleum gas (LPG) cylinder market growth during the next five years
  • Precise estimation of the liquefied petroleum gas (LPG) cylinder market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the liquefied petroleum gas (LPG) cylinder industry across APAC, North America, Middle East and Africa, Europe, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of liquefied petroleum gas (LPG) cylinder market vendors

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Read More Read Less

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • 2.2 Market characteristics
      • Exhibit 02: Market characteristics
      • Exhibit 03: Value chain analysis: Oil and gas storage and transportation market
    • 2.3 Value chain analysis

      3 Market Sizing

      • 3.1 Market definition
        • Exhibit 05: Market segments
      • 3.2 Market segment analysis
        • 3.3 Market size 2020
          • 3.4 Market outlook: Forecast for 2020 - 2025
            • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
            • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

          4 Five Forces Analysis

          • 4.1 Five forces summary
            • 4.2 Bargaining power of buyers
              • Exhibit 09: Bargaining power of buyers
            • 4.3 Bargaining power of suppliers
              • Exhibit 10: Bargaining power of suppliers
              • Exhibit 11: Threat of new entrants
            • 4.4 Threat of new entrants
              • 4.5 Threat of substitutes
                • Exhibit 12: Threat of substitutes
              • 4.6 Threat of rivalry
                • Exhibit 13: Threat of rivalry
                • Exhibit 14: Market condition - Five forces 2020
              • 4.7 Market condition

                5 Market Segmentation by Type

                • 5.1 Market segments
                  • Exhibit 16: Comparison by Type
                • 5.2 Comparison by Type
                  • Exhibit 17: Metal - Market size and forecast 2020-2025 ($ million)
                • 5.3 Metal - Market size and forecast 2020-2025
                  • Exhibit 18: Metal - Year-over-year growth 2020-2025 (%)
                  • Exhibit 19: Composite - Market size and forecast 2020-2025 ($ million)
                • 5.4 Composite - Market size and forecast 2020-2025
                  • Exhibit 20: Composite - Year-over-year growth 2020-2025 (%)
                  • Exhibit 21: Market opportunity by Type
                • 5.5 Market opportunity by Type

                  6 Customer landscape

                  • 6.1 Customer landscape

                    7 Geographic Landscape

                    • 7.1 Geographic segmentation
                      • 7.2 Geographic comparison
                        • 7.3 APAC - Market size and forecast 2020-2025
                          • 7.4 North America - Market size and forecast 2020-2025
                            • 7.5 MEA - Market size and forecast 2020-2025
                              • 7.6 Europe - Market size and forecast 2020-2025
                                • 7.7 South America - Market size and forecast 2020-2025
                                  • 7.8 Key leading countries
                                    • 7.9 Market opportunity by geography

                                      8 Drivers, Challenges, and Trends

                                      • 8.1 Market drivers
                                        • 8.2 Market challenges
                                          • 8.3 Market trends

                                            9 Vendor Landscape

                                            • 9.1 Vendor landscape
                                              • 9.2 Landscape disruption
                                                • 9.3 Competitive scenario

                                                  10 Vendor Analysis

                                                  • 10.1 Vendors covered
                                                    • 10.2 Market positioning of vendors
                                                      • 10.3 Aygaz AS
                                                        • 10.4 China Huanri Group Co. Ltd.
                                                          • 10.5 Hebei baigong high-pressure vessel Co. Ltd.
                                                            • 10.6 Hexagon Composites ASA
                                                              • 10.7 Mauria Udyog Ltd.
                                                                • 10.8 Metal Mate Co. Ltd.
                                                                  • 10.9 Sahamitr Pressure Container Plc
                                                                    • 10.10 The Supreme Industries Ltd.
                                                                      • 10.11 Time Technoplast Ltd.
                                                                        • 10.12 Worthington Industries Inc.

                                                                          11 Appendix

                                                                          • 11.1 Scope of the report
                                                                            • 11.2 Currency conversion rates for US$
                                                                              • 11.3 Research methodology
                                                                                • 11.4 List of abbreviations

                                                                                  Research Framework

                                                                                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                                                                                  TechnavioINFORMATION SOURCES

                                                                                  Primary sources

                                                                                  • Manufacturers and suppliers
                                                                                  • Channel partners
                                                                                  • Industry experts
                                                                                  • Strategic decision makers

                                                                                  Secondary sources

                                                                                  • Industry journals and periodicals
                                                                                  • Government data
                                                                                  • Financial reports of key industry players
                                                                                  • Historical data
                                                                                  • Press releases
                                                                                  Technavio

                                                                                  TechnavioDATA ANALYSIS

                                                                                  Data Synthesis

                                                                                  • Collation of data
                                                                                  • Estimation of key figures
                                                                                  • Analysis of derived insights

                                                                                  Data Validation

                                                                                  • Triangulation with data models
                                                                                  • Reference against proprietary databases
                                                                                  • Corroboration with industry experts
                                                                                  Technavio

                                                                                  TechnavioREPORT WRITING

                                                                                  Qualitative

                                                                                  • Market drivers
                                                                                  • Market challenges
                                                                                  • Market trends
                                                                                  • Five forces analysis

                                                                                  Quantitative

                                                                                  • Market size and forecast
                                                                                  • Market segmentation
                                                                                  • Geographical insights
                                                                                  • Competitive landscape
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                                                                                  The liquefied petroleum gas (lpg) cylinder market growth will increase by $456.18 million during 2021-2025.
                                                                                  The liquefied petroleum gas (lpg) cylinder market is expected to grow at a CAGR of 4.62% during 2021-2025.
                                                                                  Technavio has segmented the liquefied petroleum gas (lpg) cylinder market by type (Metal, Composite, Metal, Composite, Middle East and Africa, Europe, and South America) and geographic (APAC, North America, MEA, Europe, and South America).
                                                                                  Aygaz AS, China Huanri Group Co. Ltd., Hebei baigong high-pressure vessel Co. Ltd., Hexagon Composites ASA, Mauria Udyog Ltd., Metal Mate Co. Ltd., Sahamitr Pressure Container Plc, The Supreme Industries Ltd., Time Technoplast Ltd., Worthington Industries Inc. are a few of the key vendors in the liquefied petroleum gas (lpg) cylinder market.
                                                                                  APAC will register the highest growth rate of 54.9% among the other regions. Therefore, the liquefied petroleum gas (lpg) cylinder market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                                                                                  The key factors driving the liquefied petroleum gas (lpg) cylinder market growth are:
                                                                                  • Increasing use of LPG in many applications
                                                                                  • Growing trend toward adoption of composite LPG cylinders
                                                                                  The liquefied petroleum gas (lpg) cylinder market vendors should focus on grabbing business opportunities from the metal segment as it accounted for the largest market share in the base year.
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