$2.1 Billion Growth Opportunities in the LPG Cylinder Market - Forecast to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 5, 2018--The “Growth Opportunities in the LPG Cylinder Market” report has been added to ResearchAndMarkets.com’s offering.
The global LPG cylinder market is expected to reach an estimated $2.1 billion, and it is forecast to grow at a CAGR of 3.1% from 2018 to 2023.
The future of the global LPG cylinder market looks good with opportunities in household, automobile, leisure, and other outdoor applications. The major growth drivers for this market are increasing use of liquefied petroleum gas as a fuel source and lack of infrastructure for the transportation of piped natural gas (PNG).
Emerging trends, which have a direct impact on the dynamics of the LPG cylinder market, include increasing adoption of composite LPG cylinders and widening the size range of composite LPG cylinders to meet the needs of different consumers.
The report forecasts that metal LPG cylinder will remain the largest segment. Lower cost as compared to composite cylinders and low penetration of gas pipeline network in developing countries are likely to drive the demand for this segment over the forecast period. The composite cylinder segment is expected to witness the highest growth during the forecast period supported by lightweight, and its non-corrosive properties.
LPG cylinders are used in carrying gas for household will remain the largest segment and it is also expected to witness highest growth during the forecast period. Increasing use of liquefied petroleum gas as a fuel for cooking and unavailability of gas pipeline network are driving growth of this segment over the forecast period.
APAC is expected to remain the largest market and it is also expected to witness the highest growth over the forecast period due to LPG being the major source of cooking fuel in most of the countries and the lack of infrastructure for piped natural gas in this region.
Scope of the Report
Cylinder Type [Value ($ Million) and Volume (Million Units) from 2012 to 2023]:Metal LPG Cylinder Composite LPG Cylinder
Application [Value ($ Million) and Volume (Million Units) from 2012 to 2023]:Households Automobiles Leisure and Others
Material Consumption [Value ($ Million) and Volume (Million lbs) from 2012 to 2023]:Metal Composite Others
Key Topics Covered:
1. Executive Summary
2. Market Background and Classifications
3. Market Trends and Forecast Analysis from 2011 to 2022
4. Market Trends and Forecast Analysis by Region
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading PlayersHexagon Composites Huanri Group Mauria Udyog Metal Mate Sahamitr Pressure Container Supreme Industries Time Technoplast Worthington Industries
For more information about this report visit https://www.researchandmarkets.com/research/cmztxr/2_1_billion?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181205005756/en/
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Related Topics:LPG (Liquefied Petroleum Gas)
INDUSTRY KEYWORD: ENERGY OIL/GAS
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 12/05/2018 02:36 PM/DISC: 12/05/2018 02:35 PM