LPG Gas Cylinder Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
LPG Gas Cylinder Market Introduction
Liquefied Petroleum Gas (LPG) gas cylinder is the mixture of gases used in heating appliances, cooking, and vehicles. LPG gas cylinder has a variety of uses, with growing demand in domestic application. It is also employed across many sectors including construction, transportation, recreation, hot air balloons, agriculture, hospitality, and calefaction.
LPG gas cylinder is likely to be used on a large scale in the household and automobile owing to the growing demand for LPG as a fuel source and lack of infrastructure for gas pipeline network, especially in developing countries. However, the government in these countries are taking initiatives to support LPG gas cylinder industry.
LPG Gas Cylinders Market: Notable Highlights
Some of the most prominent competitors operating in the competitive landscape of global LPG gas cylinder market include –
LPG Gas Cylinder Market Dynamics
Composite LPG Gas Cylinder Fast Emerging as Alternative to Steel Cylinders
Composite LPG gas cylinders are emerging as an alternative to the steel LPG gas cylinders in both industrial and household uses. Composite LPG gas cylinders are developed on a large scale by manufacturers using advanced composite and polymeric materials along with the focus on safety, design, and quality. Moreover, the requirement for less maintenance owing to the rust-free characteristics is driving the demand for composite LPG gas cylinders.
Majority of the manufacturers are producing polymer composite LPG gas cylinders to reduce the weight of the cylinder, minimize injury risks, and reduce logistics costs. Colorful, lightweight and easy to handle LPG gas cylinders are likely to witness growing demand in the developing countries such as India owing to the initiatives by the government to improve quality of service and ensure the safety of both supplier and consumer.
Favorable Government Initiatives and Subsidies to Drive LPG Gas Cylinder Market
Increasing government initiatives and subsidies in various countries in Asia and South America have transitioned a switch from traditional fuel including coal, wood, and kerosene to LPG as clean and powerful cooking fuel. Governments across countries are introducing subsidies to switch the majority of the population in countries to use LPG as a cooking fuel, thereby, providing subsidized LPG gas cylinders.
The expected boom in the demand for LPG owing to the government initiatives in Asia is likely to drive imports in the region from LPG producing countries including the US and Saudi Arabia, with India and China emerging as the largest consumers. The supply outlook of LPG is also improving with continues rise in number of natural gas fields development across LPG producing countries. Moreover, governments in developing countries are also taking initiatives to educate the rural population about the benefits of using LPG.
Increasing LPG Gas Cylinder Accidents to Remain Longstanding Challenge
Increasing risk of fire, explosion, and gas leakage in LPG cylinders is expected to remain a longstanding challenge in the LPG gas cylinder market. LPG cylinders are emerging as the most common source of explosion and fire across regions. Recently, there has been a growth in the use of LPG cylinders in various industries, thereby, leading to a rise in explosions, fire and leakages. The rise in expired LPG gas cylinder and poor handling have emerged as the main factors resulting in a growing number of LPG cylinder explosions worldwide.
In order to support the development of LPG market worldwide, the World LPG Association is promoting safety practices. The Global Cylinder Network (GCN) was also established to share best practices on managing and developing LPG cylinder market along with the promotion of best maintenance and safety practices.
LPG Gas Cylinder Market Segmentation
Based on the material, the LPG gas cylinder market is segmented into
On the basis of application, the LPG gas cylinder market is segmented into
Based on cylinder type, the LPG gas cylinder market is segmented into
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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