Lucintel Forecasts Lpg Cylinder Market To Reach $3 Billion By 2030

By Author: Lucintel LLC
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According to the recent study the LPG cylinder market is projected to reach an estimated $3 billion by 2030 from $2 billion in 2023 at a CAGR of 4% from 2023 to 2030. Growth in this market is primarily driven by increasing use of liquefied petroleum gas as a fuel source and lack of infrastructure for the transportation of piped natural gas (PNG).
Browse 124 figures/charts and 108 tables in this 176-page report to understand trends, opportunities and forecast in LPG cylinder market by application (household, automobile, and leisure and others), cylinder type (metal and composites), material type (glass fiber composites, metal, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that metal LPG cylinder will remain the largest segment due to 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. Composite cylinder segment is expected to witness the highest growth during the forecast period supported by lightweight, and its non-corrosive ...
... properties.
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Household will remain the largest segment over the forecast period due to increasing use of liquefied petroleum gas as a fuel for cooking and unavailability of gas pipeline network. Automotive LPG cylinder is expected to witness highest growth ove rthe forecast period.
APAC is expected to remain the largest market 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. Europe Is expected to witness highest growth over the forecast period.
Worthington Industries, Sahamitr Pressure Container, Hexagon Composites, Mauria Udyog, Time Technoplast, Supreme Industries, Huanri Group, and Metal Mate are the major suppliers in the LPG cylinder market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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