Press release
LPG Cylinder Manufacturing Market to Cross $ 5.18 Billion by 2028
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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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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