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Industrial Gas Cylinder Market Share Driven by Safety Standards and Diversified Industrial Applications | Valuates Reports
Industrial Gas Cylinder Market SizeThe global Industrial Gas Cylinder revenue was US$ 5776.9 million in 2022 and is forecast to a readjusted size of US$ 8106.7 million by 2029 with a CAGR of 4.9% during the forecast period (2023-2029).
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The industrial gas cylinder market is experiencing sustained growth, propelled by increasing demand across multiple sectors including manufacturing, healthcare, and food processing. Market size expansion is influenced by stringent safety regulations, rising industrial gas consumption, and the need for reliable, portable gas storage solutions. Current market trends emphasize the adoption of lightweight, durable cylinders to improve operational efficiency and safety, aligning with evolving industry standards and sustainability goals.
Among the types of industrial gas cylinders, steel cylinders hold the largest market share, valued for their strength, durability, and wide acceptance across traditional industrial applications. However, composite industrial cylinders are witnessing the fastest market growth due to their lightweight nature, corrosion resistance, and ease of handling, making them increasingly preferred in medical and specialty gas sectors. Aluminum cylinders maintain a steady presence, favored in applications requiring moderate weight reduction and enhanced portability.
Application-wise, the general industry segment leads the market share, supported by heavy usage in welding, metal fabrication, and chemical processing. Meanwhile, the medical industry segment is exhibiting the fastest growth, driven by rising demand for medical-grade gases and portable oxygen solutions, particularly in healthcare infrastructure expansion and emergency care. Other applications such as food industry gas use for packaging and chemical energy sectors contribute to the broad diversification of this market.
Overall market growth is driven by technological advancements in cylinder design, enhanced material science, and increasing focus on safety and compliance standards. The future market forecast indicates that innovation in composite materials, coupled with expanding industrial gas demand and stringent regulatory frameworks, will continue to shape the market trajectory. These factors position industrial gas cylinders as essential components in supporting the efficient and safe handling of gases across varied industrial landscapes.
Segment by Type
• Steel Industrial Gas Cylinder
• Aluminum Industrial Gas Cylinder
• Composite Industrial Cylinder
Segment by Application
• General Industry
• Chemical Energy
• Food Industry
• Medical Industry
• Other
By Company
Sinoma Technology Co., Ltd., Worthington Industries, Rama Cylinders, Faber Industrie, Ningbo Meike Acetylene Bottle Co., Ltd., Luxfer Group, Beijing Tianhai Industry Co., Ltd., Hebei Baigong Industrial Co., Ltd., Lianyungang Zhongfu Lianzhong Composite Materials Group Co., Ltd., Everest KantoCylinders, Chart Industries
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