LPG Cylinder Manufacturing Market Size to Reach US$ 5.18 Billion 2023-2028

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?

LPG cylinder manufacturing is the process of producing high-quality cylinders specifically designed to store and transport liquefied petroleum gas (LPG). These cylinders play a crucial role in safely containing and distributing LPG for various residential, commercial, and industrial applications. LPG, a flammable hydrocarbon gas, is widely used as a clean and efficient fuel source for cooking, heating, and powering various appliances. The manufacturing process involves shaping the cylinders, welding or brazing the seams, and conducting thorough testing to meet industry standards and regulations. LPG cylinders are crucial for the safe storage and distribution of LPG, which is widely used as fuel across residential, commercial, and industrial applications. The manufacturing of LPG cylinders involves stringent quality control measures to ensure durability, safety, and compliance with international standards and regulations.

Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/lpg-cylinder-manufacturing-market/requestsample

What are the growth prospects and trends in the LPG cylinder manufacturing?

The global LPG cylinder manufacturing market is primarily driven by the increasing adoption of LPG as an alternative and eco-friendly fuel source. Moreover, LPG offers lower emissions and reduced carbon footprint compared to traditional fossil fuels, aligning with the growing focus on environmental sustainability. As governments and organizations of various nations strive to transition toward cleaner energy sources, the demand for LPG cylinders is escalating worldwide. Besides this, the expanding global population and rapid urbanization, especially in developing economies, are fueling the demand for LPG cylinders for residential cooking and heating purposes. As more households switch from traditional fuels such as wood and coal to LPG, there is a surge in the need for reliable and safe LPG cylinders. Additionally, rapid growth in the commercial and industrial sectors, including hospitality, healthcare, manufacturing, and agriculture, are increasingly relying on LPG to meet their energy requirements. This shift toward LPG usage for heating, process heating, and power generation has catalyzed the demand for LPG cylinders in these sectors. Apart from this, the rising adoption of LPG in automotive applications as an alternative fuel for vehicles owing to its lower emissions and cost-effectiveness compared to conventional gasoline or diesel is augmenting the market growth. Furthermore, safety regulations and certifications pertaining to LPG cylinders are playing a significant role in shaping the market. Manufacturers are now focusing on implementing advanced safety features and technologies to ensure the secure storage and transportation of LPG. The growing need for regulatory compliance with standards, such as ISO 9001, ISO 14001, and ISO 45001, to establish credibility and gain the trust of customers is propelling market growth. Other factors, including the increasing adoption of LPG as a clean fuel, elevating levels of urbanization, and the rapid expansion of commercial and industrial sectors, are also expected to drive the market further.

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?

The report covers the major market players including:

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.

Browse full report with TOC & List of Figure: https://www.imarcgroup.com/lpg-cylinder-manufacturing-market

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Browse Other Reports:

Quadricycle and Tricycle Market Report- https://www.openpr.com/news/3032201/quadricycle-and-tricycle-market-size-to-reach-us-12-250-million

Protein Detection & Quantification Market Report- https://www.openpr.com/news/3032221/protein-detection-quantification-market-size-to-reach-us-4-4

Premenstrual Syndrome Treatment Market Report- https://www.openpr.com/news/3032240/premenstrual-syndrome-treatment-market-size-to-reach-us-1-683

Network Forensics Market Report- https://www.openpr.com/news/3032259/network-forensics-market-size-to-reach-us-7-2-billion-by-2028

Onychomycosis Treatment Market Report- https://www.openpr.com/news/3032268/onychomycosis-treatment-market-size-to-reach-us-4-3-billion

Contact us:

IMARC Group
Email: sales@imarcgroup.com
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Address: 134 N 4th St. Brooklyn, NY 11249, USA
Website: https://www.imarcgroup.com/
Follow us on Twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group

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'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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

This release was published on openPR.