LPG Cylinder Manufacturing Market to Reach US$ 5.18 Billion by 2028

PRESS RELEASE

Published April 20, 2023

According to the latest report by IMARC Group “LPG Cylinder Manufacturing Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2023-2028“, The global LPG cylinder manufacturing market size reached US$ 4.03 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.18 Billion by 2028, exhibiting a growth rate (CAGR) of 4.10% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Liquefied petroleum gas or LPG cylinder manufacturing represents the process of designing, producing, and testing cylinders for transportation, storage, and containment of LPG. It involves multiple steps, such as acquiring raw materials, blanking, body forming, deep drawing, piercing, trimming, welding of valve guard ring and foot ring, etc. LPG cylinder manufacturing solutions even involve multiple tests that help prevent pneumatic leakage, burst, and volumetric expansion. They help to maintain superior product quality and offer convenience, easy portability, enhanced durability, and cost and energy efficiency. Consequently, LPG cylinder manufacturing systems are extensively utilized across the globe.

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LPG Cylinder Manufacturing Market Trends:

The growing adoption of LPG cylinders in households across countries for cooking and power gas cooktops, fireplaces, ovens, barbecue grills, and backup generators is among the key factors driving the LPG cylinder manufacturing market. Additionally, the increasing product usage in several heating appliances, which include water heaters, central heating systems, portable heaters, etc., owing to its easy storage feature, is also positively influencing the global market. Apart from this, the expanding commercial kitchens, including restaurants, diners, eateries, food trucks, cafeterias, etc., that rely heavily on LPG cylinders for cooking are acting as significant growth-inducing factors. Moreover, the escalating demand for automotive LPG cylinders to power personal and commercial vehicles as they are cost-effective and tamper-proof, require low maintenance, and decrease carbon dioxide (CO2) emissions is further catalyzing the global market. Besides this, the rising use of automated production, testing, and painting technologies in the manufacturing process to improve efficiency, lower labor costs, reduce errors, and maintain product consistency and quality and the launch of advanced LPG cylinders made from composite materials and fiberglass that are non-corrosive, lightweight, and explosion-proof are expected to bolster the LPG cylinder manufacturing market over the forecasted period.

Report Segmentation:

The report has segmented the market into the following categories:

Material Insights:

Steel
Aluminum

Size Insights:

4 Kg – 15 Kg
16 Kg – 25 Kg
25 Kg – 50 Kg
More than 50 Kg

End User Insights:

Domestic
Commercial
Industrial

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Competitive Landscape:

Aygaz A.S.
Confidence Petroleum India Limited
ECP Industries Limited
Hexagon Ragasco AS (Hexagon Composites ASA)
Manchester Tank (McWane Inc.)
Mauria Udyog Ltd.
Sahamitr Pressure Container PLC
Satyasai Pressure Vessels Group
Shandong Huanri Group Co. Ltd.
Worthington Industries Inc.

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