Lpg Cylinder Market Is Anticipated To Grow At A Cagr Of 2.6% During 2020-2025

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The global LPG cylinder market is projected to reach $2.4 billion by 2025, at a CAGR of 2.6% during 2020-2025. The growth of LPG cylinder market is driven by increasing use of liquefied petroleum gas as a fuel source and lack of infrastructure for the transportation of piped natural gas (PNG).
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the LPG cylinder market by cylinder type (metal LPG cylinders and composite LPG cylinders), application (households, automobile, and leisure), material consumption (metal, composite, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the LPG cylinder market?
Q.4 What are some changing demands of customers in the LPG cylinder market?
Q.5 What are the new developments in the LPG cylinder market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
...
... Q.7 What are some of the competitive products and processes in this LPG cylinder area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this LPG cylinder market?
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing adoption of composite LPG cylinders and widening the size range of composite LPG cylinders to meet the needs of different consumers.
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Market Segmentation:
Based on cylinder type, the LPG cylinder market is segmented into metal LPG cylinders, and composite LPG cylinders. The metal LPG cylinders segment is accounted for the largest share of the market in 2020 because 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 and composite cylinder is expected to register the highest CAGR during the forecast period, supported by lightweight, and its non-corrosive properties.
Asia Pacific is expected to be the largest region with 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.
Key Players in the LPG cylinder market are Worthington Industries, Maurya Udyog Limited, Hexagon Composites, Sahamitr Pressure Container, and Time Technoplast.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
To read more about this market please click on https://www.lucintel.com/lpg-cylinder-market.aspx
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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