About LPG Cylinder
Liquefied Petroleum Gas (LPG) is an essential item that is designed for storing and transporting liquefied petroleum gas. These cylinder store liquefied petroleum gas at above atmospheric pressure. The body of the LPG cylinder is deeply drawn into two pieces which are then welded together to make a compact unit without any leak and defect. LPG cylinder has a variety of uses, most significantly domestic use. Rapid urbanization, rise in disposable income, convenience in use and its environment-friendly nature is expected to accelerate the growth of LPG cylinder in the global market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.17% |
The market is fragmented by numerous numbers of key players are applying various techniques due to the high demand for LPG in the developing countries. Regional market players are competing on the basis of price differentiation and services. Increasing R&D investment on fuel technology engines by the automobile manufacturers is projected to open up new gates for market participants. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global LPG Cylinder market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sahamitr Pressure Container (Thailand), Amtrol-Alfa (Portugal), Mauria Udyog (India), Aygaz (Turkey), Butagaz (France), Worthington Industries (United States), Bhiwadi Cylinders (India), Sahuwala Cylinders (India), MetalMate (Thailand), Gaz Liquid Industrie (GLI) (France), VíTKOVICE (Czechia), Hexagon Ragasco (Norway), Luxfer Gas Cylinders (United Kingdom), Faber Industrie (Italy) and Aburi Composites (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are PT PRAJAMITA INTERNUSA (Indonesia), Huanri (China), Hebei Baigong (China), Jiangsu Minsheng (China), Guangdong Yingquan (China) and Others.
Segmentation Overview
AMA Research has segmented the market of Global LPG Cylinder market by Type (LPG Steel Cylinders and LPG Composite Cylinders), Application (Domestic, Commercial and Industrial) and Region.
On the basis of geography, the market of LPG Cylinder has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material , the sub-segment i.e. Steel will boost the LPG Cylinder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Size, the sub-segment i.e. 4 Kg- 15 Kg will boost the LPG Cylinder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Innovation Aimed at Improving Manufacturing Process and Increasing Adoption of Composite LPG Cylinders
Market Growth Drivers:
Rise in Disposable Income, Continuous Growth in the Residential Sector and Commercial Kitchen such As Food Trucks, Restaurants, Cafeteria and Others and LPG Vehicles Have Significantly Low Running Costs Over Gasoline Vehicles
Challenges:
Increasing Price of Raw Materials
Restraints:
Stringent Government Rules and Regulation and High Initial Cost
Opportunities:
Promotion of Innovative Cylinder Design, Manufacturing Standards and Maintenance and Handling Procedures Various Regions
Market Leaders and their expansionary development strategies
In October 2023, Vivo Energy, the leading pan-African distributor of high-quality fuels, lubricants and LPG, announced that it has reached an agreement to acquire Somagaz, the integrated operator that imports, stores, bottles and distributes liquefied petroleum gas (LPG) in Mayotte, a market in which it is by far the market leader.
In February 2024, Chief Minister Revanth Reddy has launched two of the Congress guarantees LPG cylinders for Rs 500 under the Mahalaxmi scheme and 200 units of free power supply to beneficiaries under Gruha Jyoti scheme. The Abhaya Hastam guarantees were launched at the secretariat on Tuesday in the presence of Deputy Chief Minister Mallu Bhatti Vikramarka, Speaker Gaddam Prasad Kumar and other Ministers.
Petroleum and natural gas regulatory board act, 2006 provided the establishment of Petroleum and Natural Gas Regulatory Board to regulate the refining, processing, storage, transportation, distribution, marketing and sale of petroleum, petroleum products and natural gas excluding production of crude oil and natural gas so as to protect the interests of consumers and entities engaged in specified activities relating to petroleum, petroleum products and natural gas and to ensure uninterrupted and adequate supply of petroleum, petroleum products and natural gas in all parts of the country and to promote competitive markets and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Fifty-seventh Year of the Republic of India.
Key Target Audience
Governments And Non-Governmental Agencies, LPG Distributors, OEMs, Fuel Exploration And Processing Industries, LPG Kit Manufacturers and Fleet Operators
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.