Composite LPG Cylinders Market estimated to grow at 9.7% CAGR in the forecast period (2017-2022)

Summary:
The report on the Composite LPG Cylinders Market has been launched in July,2017 by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2017-2022. The report also offers insights into different market segments and other factors affecting the market.

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Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Composite LPG Cylinders Market is expected to inflate at impressive CAGR of 9.7% by the forecast period (2017 – 2022).

As per the report, the market is segmented by:
• By Cylinder Type: Type III Cylinder, Type IV Cylinder
• By Size Type: 0-5kg, 6-10kg, 11kg & Above
• By Application Type: Kitchen & Domestic Use, Transportation, Recreational Use, Others
• By Region: North America, Europe, Asia-Pacific, Rest of the World

The Table of Contents can be gone through here:
https://www.stratviewresearch.com/toc/276/composite-LPG-cylinders-market.html

Highlights of the Report:

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.

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.

Key Players of the Market

The market is consolidated in nature with five major players Amtrol-Alfa Metalomecânica Sa, Hexagon Composites ASA, Metal Mate Co., Ltd., Supreme Industries, Time Technoplast Ltd. holding together the major share in the market, with Amtrol-Alfa Metalomecânica Sa being the key player.

Features of the Report

The Report discusses about the working of the composite lpg cylinders, the various types, and the growth of the composite lpg cylinder in the global market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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Ritesh Gandecha
Stratview Research
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Direct: +1-313-307-4176

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This release was published on openPR.