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.
Liquified petroleum gas (LPG) cylinder manufacturing is the process of producing, designing, and testing cylinders for transportation, storage, and containment of LPG. These cylinders are pressurized vessels with several designs, such as elongated, upright, and flat bottom designs, employed to store LPG above atmospheric pressure. They are manufactured in various steps such as acquiring raw materials, blanking, body forming, trimming, deep drawing and piercing, and welding valve foot ring, guard ring, and valve boss. In addition, they undergo heat treatment, surface coating, painting, valve attachment, shot blasting, and various final tests, including pneumatic leakage, burst, volumetric expansion, and hydro-testing. These cylinders maintain superior product quality and provide easy portability, durability, convenience, cost, and energy efficiency.
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LPG Cylinder Manufacturing Market Trends:
The market is primarily driven by the expanding hotel, restaurant, and cafe (HoReCa) industry. In addition, the increasing demand for LPG cylinders for powering gas cooktops, fireplaces, ovens, barbecue grills, and backup generators in commercial and residential sectors is contributing to the market growth. Moreover, the incorporation of automated production, testing, and painting technologies in the manufacturing process to minimize labor costs and errors, maintain product consistency and quality, and improve efficiency represents another major growth-inducing factor. Besides this, the escalating demand for automotive LPG cylinders to power commercial and personal vehicles due to their benefits, such as low maintenance, tamper-proof, cost-effectiveness, and minimizing carbon dioxide (CO2) emissions, are providing a positive thrust to the market growth. Along with this, the launch of advanced LPG cylinders produced from fiberglass and composite materials that are non-corrosive, lightweight, and explosion-proof is propelling the market growth. Furthermore, the growing disposable incomes and the implementation of several government initiatives, awareness campaigns, and subsidies are also creating a favorable market outlook.
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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