LPG Cylinder Manufacturing Market to Cross $ 5.18 Billion by 2028

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?

The global LPG cylinder manufacturing market size reached US$ 4.03 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.18 Billion by 2028, exhibiting a growth rate (CAGR) of 4.10% during 2023-2028.

What is LPG cylinder manufacturing?

Liquefied petroleum gas (LPG) cylinder manufacturing involves the production, design, and testing of cylinders for containing, transporting, and storing LPG. These cylinders are upright, elongated, and flat-bottomed containers that are pressurized for storing LPG above atmospheric pressure. It also involves several steps, including sourcing raw materials, blanking, body forming, deep drawing and piercing, trimming, and welding the valve foot ring, guard ring, and valve boss. Once manufactured, the cylinders undergo several processes, such as shot blasting, surface coating, heat treatment, painting, valve attachment, and numerous final testing methods, including pneumatic leakage, burst, volumetric expansion, and hydro-testing. Moreover, LPG manufacturing ensures superior product quality and offers portability, cost-effectiveness, convenience, durability, 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 expanding food and beverage (F&B) sector. In addition, the increasing product use in commercial kitchens such as food trucks, eateries, cafeterias, diners, and restaurants for cooking is contributing to the market growth. In line with this, the rising product adoption in the residential sector for cooking on gas cooktops, ovens, fireplaces, barbecue grills, and backup generators is contributing to market growth. Moreover, the incorporation of advanced LPG cylinders made from fiberglass and composite materials that are lightweight, non-corrosive, and explosion-proof represents another major growth-inducing factor. Besides this, the adoption of automated production, testing, and painting technologies in the manufacturing process to enhance efficiency, reduce labor costs, minimize errors, and maintain product consistency and quality is influencing the market growth. Furthermore, several governments are taking the initiative to promote the adoption of LPG cylinders through subsidies, and awareness campaigns which is 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?

List of Key Companies Covered in this Market Report:

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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This release was published on openPR.