Global Composite LPG Cylinders Market by Cylinder Type (Type III and Type IV), by Cylinder Size Type (0-5kg, 6-10kg, and 11kg & Above), by Application Type (Kitchen & Domestic Use, Transportation, Recreational Use, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017–2022
This report, from Stratview Research, studies the global composite LPG cylinders market over the period 2011 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Composite LPG Cylinders Market: Highlights
The global composite LPG cylinders market is expected to grow at an impressive CAGR of 9.7% over the next five years to reach US$ 189.7 million in 2022. Increasing demand for lightweight, explosion proof and non-corrosive LPG cylinders and government push towards the usage of composite cylinders are some of the major drivers of the market. Increase in the consumption of LPG in the developing economies further elevate the demand for composite LPG cylinders over the next five years.
The global composite LPG cylinders market is segmented based on cylinder type as type III and type IV. Type IV is the most widely preferred cylinder type in the composite LPG cylinders market. It is expected to remain larger and faster-growing cylinder type during the forecast period. All the major composite LPG cylinder manufacturers have a presence in type IV tanks only. Type IV cylinder offers the maximum weight reduction and higher burst pressure as compared to type I and type III cylinders.
Based on the application type, the global composite LPG cylinders market is segmented as kitchen & domestic use, transportation, recreational use, and others. Kitchen & domestic use is expected to remain the largest and fastest-growing application type in the global composite LPG cylinders market during the forecast period. There is an increasing replacement of type I cylinders with type IV cylinders, owing to their advantages of lightweight and an excellent burst pressure. Additionally, piped natural gas in households is being replaced with composite LPG cylinders, owing to its limited reserves and high cost.
The supply chain of this market comprises raw material suppliers, composite LPG cylinder manufacturers, distributors, oil & gas companies, and end users. The key composite LPG cylinders manufacturers are Hexagon Composites ASA, Aburi Composites, Amtrol-Alfa, Time Technoplast Ltd., and Metal Mate Co., Ltd., and AL Aman Gas Cylinders Manufacturing LLC. Development of lightweight cylinders, capacity expansion, and regional expansion are the key strategies adopted by the key players to gain a competitive edge in the market.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. About 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
Market structure: Overview, industry life cycle analysis, supply chain analysis
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Emerging trends of the carbon brakes market
Strategic growth opportunities for the existing and new players
Key success factors
The global composite LPG cylinders market is segmented into the following categories.
Global Composite LPG Cylinders Market by Cylinder Type:
Type III Cylinder (Regional Analysis: NA, Europe, APAC, and RoW)
Type IV Cylinder (Regional Analysis: NA, Europe, APAC, and RoW)
Global Composite LPG Cylinders Market by Size Type:
0-5kg (Regional Analysis: NA, Europe, APAC, and RoW)
6-10kg (Regional Analysis: NA, Europe, APAC, and RoW)
11kg & Above (Regional Analysis: NA, Europe, APAC, and RoW)
Global Composite LPG Cylinders Market by Application Type:
Kitchen & Domestic Use (Regional Analysis: NA, Europe, APAC, and RoW)
Transportation (Regional Analysis: NA, Europe, APAC, and RoW)
Recreational Use (Regional Analysis: NA, Europe, APAC, and RoW)
Others (Regional Analysis: NA, Europe, APAC, and RoW)
Global Composite LPG Cylinders Market by Region:
North America (Country Analysis: The USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, The UK, Norway, Russia, and Rest of Europe)
Asia-Pacific (Country Analysis: Thailand, Bangladesh, South Korea, and Rest of Asia-Pacific)
Rest of the world (Country Analysis: The Middle East, Latin America, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Detailed profiling of additional market players (up to 3 players)
SWOT analysis of key players (up to 3 players)
Current market segmentation of any one of the studied country by application type
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across sectors.
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