IMARC Group, a leading market research company, has recently releases report titled “LPG Cylinder Manufacturing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global LPG cylinder manufacturing 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 LPG cylinder manufacturing market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 4.03 Billion |
| Market Forecast in 2028 | US$ 5.18 Billion |
| Growth rate (2023 to 2028) | CAGR of 4.10% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is LPG cylinder manufacturing?
Liquefied Petroleum Gas (LPG) cylinder manufacturing involves designing, testing, and producing cylinders for storing, transporting, and containing LPG under pressure. It involves several steps, including sourcing raw materials, deep drawing and piercing, blanking, body forming, trimming, and welding the valve guard ring, foot ring, and valve boss. In addition, it undergoes several processes, such as shot blasting, surface coating, heat treatment, painting, valve attachment, and numerous final testing methods, including volumetric expansion, pneumatic leakage, burst, and hydro-testing. As a result, LPG manufacturing ensures superior product quality and provides convenience, durability, portability, cost-effectiveness, and energy efficiency across the globe.
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What are the growth prospects and trends in the LPG cylinder manufacturing?
The market is primarily driven by the significant expansion in the hotel, restaurant, and cafe (HoReCa) industry. In addition, the rising product demand in the food and beverage (F&B) industry to power gas cooktops, barbecue grills, fireplaces, ovens, and backup generators in residential and commercial sectors is contributing to the market growth. Moreover, various governments are taking the initiative to promote the adoption of LPG cylinders through subsidies, awareness campaigns, and policies to tackle rising energy prices and electricity supply pressures, representing another major growth-inducing factor. Besides this, the introduction of advanced LPG cylinders created from fiberglass and composite materials that are non-corrosive, lightweight, and explosion-proof is accelerating the product adoption rate. Furthermore, the rising demand for automotive LPG cylinders to power commercial and personal vehicles due to their benefits, such as tamper-proof, cost-effectiveness, low maintenance, and minimizing carbon dioxide (CO2) emissions, is also creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Material Insights:
- Steel
- Aluminum
Size Insights:
- 4 Kg – 15 Kg
- 16 Kg – 25 Kg
- 25 Kg – 50 Kg
- More than 50 Kg
End User Insights:
- Domestic
- Commercial
- Industrial
Breakup by Geography:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Aygaz A.S.
- Confidence Petroleum India Limited
- ECP Industries Limited
- Hexagon Ragasco AS (Hexagon Composites ASA)
- Manchester Tank (McWane Inc.)
- Mauria Udyog Ltd.
- Sahamitr Pressure Container PLC
- Satyasai Pressure Vessels Group
- Shandong Huanri Group Co. Ltd.
- Worthington Industries Inc.
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