Industry Background:
Liquid gas cylinder are any closed metal vessel having a volume exceeding 500 ml but not beyond 1000 liters intended for the storage and transport of compressed gas, including any liquefied petroleum gas (LPG) container, liquefied natural gas (LNG) or compressed natural gas cylinder fitted to a motor vehicle as its fuel tank but not including any other such container fitted to a special transport or under-carriage and includes a composite cylinder, however, the water capacity of cylinders used for storage of CNG, nitrogen, compressed air, etc.
According to AMA Research, the market for Liquid Gas Cylinder is expected to register a CAGR of 7.1% during the forecast period to 2030. This growth is primarily driven by Growth in the Residential Sector
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Oil & Gas Equipment & Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Air Liquide (France), Chart Industries (United States), Linde Gas (Ireland), Cryo Diffusion (Italy), Accurate Gas Products (United States), CHINA HUANRI GROUP (China), Amtrol-Alfa (Portugal), Worthington Industries (United States), Sahamitr Pressure Container (Thailand) and Mauria Udyog (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In September 2021, IOCL launched a smart LP gas cylinder, which will allow customers to plan their next refill easily.
In January 2021, Hexagon Composites ASA launched its next-generation smart LPG cylinders to indicate the remaining gas levels and cooking time left in the cylinder. Further, the cylinder also provides insight regarding the consumer usage pattern to the distributors for improved logistics. The company intends to diversify its product portfolio and revolutionize the market by launching this new product.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies.
Influencing Trend:
Technological Innovation Aimed at Improving Manufacturing Process
Market Growth Drivers:
Growth in the Residential Sector and Increasing Adoption of Composite LPG Cylinders
Challenges:
Increasing Price of Raw Materials
Restraints:
Stringent Government Rules and Regulation and High Initial Cost
Opportunities:
Promotion of Innovative Cylinder Design
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Liquid Gas Cylinder Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Liquid Gas Cylinder Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Liquid Gas Cylinder players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Liquid Gas Cylinder Study Sheds Light on
The Liquid Gas Cylinder Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Liquid Gas Cylinder industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Liquid Gas Cylinder industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.