Press release
Composite LPG Cylinders Market 2020: Global Industry Insights by Global Players, Regional Segmentation, Growth, Applications, Major Drivers, Value and Foreseen till 2026
Composite LPG Cylinders market
The global composite LPG cylinder market was USD 131 million in 2018 and is expected to reach around USD 249 million by 2025, growing at a CAGR of 9.5% between 2019 and 2025.
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Top Companies in the Global Composite LPG Cylinders Market: Aburi Composites, AL Aman Gas Cylinders Manufacturing, Hexagon Composites ASA, Metal Mate, Supreme Industries Others
Market Segmentation by Types:
0 to 5 kg
6-10 kg
>11 kg
Market Segmentation by Applications:
Passenger Car
Commercial Vehicle
Composite LPG cylinders are a remarkably better alternative to conventional steel cylinders. Composite LPG cylinders are manufactured by the standardly designed composition of helically woven fibers and resins. The characteristics that enable composite LPG cylinder to be a better alternative to standard LPG containers are 100% recyclability, superior UV resistance, translucence, lightweight, aesthetically pleasing, and most importantly explosion resistance. Furthermore, the characteristic of explosion prevention is the foremost factor for its consistently rising popularity and market growth.
Research Methodology
Composite LPG cylinder market will see significant growth in the years ahead, due to the characteristics of reluctance cylinder explosion. Fiberglass sophisticated technology used for the manufacture of composite LPG cylinders instill the competitive advantage of the reluctance of the explosion. Lightweight and compact specially designed cylindrical shape makes handling and transport them comfortable and easy. Aesthetically attractive appearance is also a contributory factor to the composite LPG cylinder market, which leads to their preference over conventional heavy steel cylinder with a convenient form. Furthermore, a growing preference for LPG as cooking fuel for natural resources that are not efficient conventional in the developing world is also projected to boost global composite LPG cylinder market. In addition, governments around the world are actively encouraging the production and use of composite LPG cylinders, for their valuable advantages such as low cost of production, an explosion of hatred, and convenient transportation.
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Key Highlights of Global Composite LPG Cylinders Market Analysis:
The report provides a detailed analysis of current and future market trends to identify the investment opportunities market forecasts till 2025.
Key Composite LPG Cylinders market trends across the business segments, regions and countries
Key developments and strategies observed in the market
In-depth company profiles of key players and upcoming prominent players
Key market dynamics such as drivers, restraints, opportunities and other trends
Market opportunities and recommendations for new investments
Moreover, this report has all the informative necessary details like the economic techniques, product provide and demand, applications, future forecast, and growth and development factors mentioned. The geographical and Composite LPG Cylinders industrial dominance is predicted to assist the market carve out a reputation for itself on a world scale. This report points mainly top-down approach to focus key dimensions of the market CAGR, top players, cost organization, manufacturing ability, and commercial analysis.
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