Press release
Global Composite LPG Cylinders Market to Reach US$ 189.7 million in 2022
This report, from Stratview Research, studies the global composite LPG cylinders market over the period 2011 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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The Global Composite LPG Cylinders Market: Highlights
The global composite LPG cylinders market is expected to grow at an impressive CAGR of 9.7% over the next five years to reach US$ 189.7 million in 2022. Increasing demand for lightweight, explosion proof and non-corrosive LPG cylinders and government push towards the usage of composite cylinders are some of the major drivers of the market. Increase in the consumption of LPG in the developing economies further elevate the demand for composite LPG cylinders over the next five years.
Composite LPG Cylinders Market Trend and Forecast
The global composite LPG cylinders market is segmented based on cylinder type as type III and type IV. Type IV is the most widely preferred cylinder type in the composite LPG cylinders market. It is expected to remain larger and faster-growing cylinder type during the forecast period. All the major composite LPG cylinder manufacturers have a presence in type IV tanks only. Type IV cylinder offers the maximum weight reduction and higher burst pressure as compared to type I and type III cylinders.
Based on the application type, the global composite LPG cylinders market is segmented as kitchen & domestic use, transportation, recreational use, and others. Kitchen & domestic use is expected to remain the largest and fastest-growing application type in the global composite LPG cylinders market during the forecast period. There is an increasing replacement of type I cylinders with type IV cylinders, owing to their advantages of lightweight and an excellent burst pressure. Additionally, piped natural gas in households is being replaced with composite LPG cylinders, owing to its limited reserves and high cost.
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The supply chain of this market comprises raw material suppliers, composite LPG cylinder manufacturers, distributors, oil & gas companies, and end users. The key composite LPG cylinders manufacturers are Hexagon Composites ASA, Aburi Composites, Amtrol-Alfa, Time Technoplast Ltd., and Metal Mate Co., Ltd., and AL Aman Gas Cylinders Manufacturing LLC. Development of lightweight cylinders, capacity expansion, and regional expansion are the key strategies adopted by the key players to gain a competitive edge in the market.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
Market structure: Overview, industry life cycle analysis, supply chain analysis
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Emerging trends of the carbon brakes market
Strategic growth opportunities for the existing and new players
Key success factors
The global composite LPG cylinders market is segmented into the following categories.
Global Composite LPG Cylinders Market by Cylinder Type:
• Type III Cylinder (Regional Analysis: NA, Europe, APAC, and RoW)
• Type IV Cylinder (Regional Analysis: NA, Europe, APAC, and RoW)
Global Composite LPG Cylinders Market by Size Type:
• 0-5kg (Regional Analysis: NA, Europe, APAC, and RoW)
• 6-10kg (Regional Analysis: NA, Europe, APAC, and RoW)
• 11kg & Above (Regional Analysis: NA, Europe, APAC, and RoW)
Global Composite LPG Cylinders Market by Application Type:
• Kitchen & Domestic Use (Regional Analysis: NA, Europe, APAC, and RoW)
• Transportation (Regional Analysis: NA, Europe, APAC, and RoW)
• Recreational Use (Regional Analysis: NA, Europe, APAC, and RoW)
• Others (Regional Analysis: NA, Europe, APAC, and RoW)
Global Composite LPG Cylinders Market by Region:
• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Norway, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Thailand, Bangladesh, South Korea, and Rest of Asia-Pacific)
• Rest of the world (Country Analysis: The Middle East, Latin America, and Others)
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
Category: Consumer & Goods
https://www.stratviewresearch.com/276/composite-LPG-cylinders-market.html
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life
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