The latest report on “LPG Cylinder Manufacturing Market (Material – Steel, and Aluminium; Size – 4 Kg – 15 Kg, 16 Kg – 25 Kg, 25 Kg – 50 Kg, and More than 50 Kg; End-use – Domestic, Commercial, and Industrial): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global LPG cylinder manufacturing market is projected to grow at a CAGR of 4.1% over the forecast period of 2019-2025.
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LPG cylinders manufacturing industry is going through rapid changes. The government initiative is a major reason behind the increasing demand for LPG cylinders. The key players in LPG cylinder manufacturing are focusing on mergers and acquisitions to expand its market share.
Rapid urbanization, increasing disposable income, and growing residential sector drive the growth of the LPG cylinder manufacturing market. LPG cylinder manufacturers are adopting advanced technology for regulating, bulk storage handling and maintenance of LPG cylinders which contributes to improved quality and safety. Manufacturers are offering leakage free LPG cylinders to consumers that include protective packaging and advanced seal. Such factors boost the growth of the LPG cylinder manufacturing market. The availability of new LPG cylinder designs and rules regarding manufacturing standards stimulate the growth of the LPG cylinder manufacturing market.
In addition, government schemes regarding the usage of LPG cylinders propel the growth of the LPG cylinder manufacturing market. On the other side, the availability of alternatives to LPG cylinders such as induction cookers, air fryers, solar cookers, and biogas hinders the growth of the LPG cylinder manufacturing market. Moreover, the increasing demand for LPG cylinders in rural households creates new opportunities for LPG manufacturers to expand their market share.
Asia-Pacific Region is Anticipated to be Dominant in the Global LPG Cylinder Manufacturing Market
Geographically, the global LPG cylinder manufacturing market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific region is anticipated to be dominant in the global LPG cylinder manufacturing market. India is the second largest importer of LPG in the world that contributes to the growth of the global LPG cylinder manufacturing market. North America is also growing in the global LPG cylinder manufacturing market over the forecast period.
The report on global LPG cylinder manufacturing market covers segments such as material, size, and end-use. On the basis of material, the sub-markets include steel, and aluminium. On the basis of size, the sub-markets include 4 kg – 15 kg, 16 kg – 25 kg, 25 kg – 50 kg, and more than 50 kg. On the basis of end-use, the sub-markets include domestic, commercial, and industrial.
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The report provides profiles of the companies in the market such as Confidence Petroleum India Ltd., Aygaz, Dorian LPG Ltd., Hexagon Ragasco AS, Manchester Tank & Equipment Co., Sahamitr Pressure Container PLC, Mauria Udyog Ltd., Shandong Huanri Group Co. Ltd., Worthington Industries, Kishore Kela Group, and Other companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the LPG cylinder manufacturing.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.