LPG Cylinder Manufacturing Market - Snapshot

Liquefied petroleum gas or liquid petroleum gas, also referred to as simply propane or butane, are flammable mixtures of hydrocarbon gases used as fuel in heating appliances, cooking equipment, and vehicles. LPG gas cylinder or tank is a pressure vessel used to store liquefied petroleum gas at above atmospheric pressure. In the global LPG cylinders manufacturing market, the domestic end-use segment has the largest share due to major adoption of LPG as cooking fuel in regions such as Asia Pacific and Africa. Also, rise in consumer spending power and various government schemes tend to drive the growth of the domestic LPG cylinder manufacturing market. The global LPG cylinder manufacturing market is projected to reach market size of about US$ 4.7 Bn by 2026, with an average growth rate of around 3.6% during the forecast period.

lpg cylinder manufacturing market

The global LPG cylinder manufacturing market is anticipated to be driven by factors such as rise in disposable income, rapid urbanization, convenience in use, and its environment friendly nature. Rise in disposable income is creating increased demand for LPG cylinders which in turn is expected to accelerate the growth of the production ofLPG cylinders in the global market. Continuous growth in the residential sector and commercial kitchens such as food trucks, restaurants, cafeterias, etc. are also expected to boost the market. Various laws and schemes regarding usage of LPG cylinders (by replacing traditional methods of cooking) in the urban sector are propelling the LPG cylinders business across the globe. LPG cylinders are marketed in both urban and rural areas, although in developing economies it tends to be more widely available in urban areas where its supply costs are lower.

The subsidy on automotive LPG cylinders is attractive for vehicle owners across the globe for its quality performance and minimal maintenance. Multiple governments across the globe are rolling out various policies that emphasize the importance of the usage of LPG cylinders to tackle rising energy prices and electricity supply pressures. In developing economies, the rise in government initiatives has triggered the market in recent years due to growth in dependency on LPG cylinders by end-users. LPG cylinders are found to be a basic medium for supply of fuel such as natural gas that is versatile and often preferred across the residential, commercial, and industrial sector.

Asia Pacific dominates the LPG cylinder manufacturing market with China and India being the leaders in the global market. Major players in this region are focusing on the increased production of LPG cylinders. This is attributed to the increased consumption in this region. Moreover, India and China are also the leading exporters of LPG cylinders in the global market. Middle East & Africa accounts for the second largest share and major players in the Africa market are focusing on increased production of LPG cylinders in order to gain competitive advantage in the market.

China dominates the Asia Pacific market followed by India. Increased consumption of LPG cylinders for domestic use is fuelling the production of LPG cylinders in this region. Furthermore, China and India are the pioneers and major exporters of LPG cylinders in the global market. Increasing demand for lightweight, explosive proof and non-corrosive LPG cylinders and government push for the usage of subsidized LPG cylinders are serving as major factors for the LPG cylinder manufacturing market.

Various end-users are shifting their preference from traditional fuels such as charcoal, coal, wood, animal waste, and kerosene, to liquefied petroleum gas (LPG) as a cooking fuel. Governmentsacross various regions are also supporting the usage of LPG cylinders through grants, subsidies, microfinance, etc. in residential, commercial, and industrial sectors. These factors are driving the growth of production of LPG cylinders in the global market. Various Industries such as food processing, chemicals, marine, automotive, agriculture, and manufacturingare opting for LPG cylinders due to factors such as better performance and minimal emission of hazardous gases as compared to other oil based fuels. Minimal cost of energy, and maintenance, has shifted preference toward the usage of LPG by end-users.

Some of the key players profiled in the global LPG cylinder manufacturing market are Kishore Kela Group (Satyasai Pressure Vessels Ltd.), Dorian LPG Ltd., Confidence Petroleum India Ltd., Manchester Tank & Equipment Co., Sahamitr Pressure Container PLC., ECP Industries Limited, Mauria Udyog Limited, Shandong Huanri Group Co. Ltd., Hexagon Ragasco, Aygaz A.?., and Worthington Industries, Inc.

Global LPG Cylinder Manufacturing Market: Overview

This report on the global LPG cylinder manufacturing market provides analysis for the period 2016–2026, wherein 2017 is the base year and 2018 to 2026 is the forecast period. Data for 2016 has been included as historical information. The report covers market dynamics including drivers, restraints, opportunities, and trends expected to influence the growth of the LPG cylinder manufacturing market during the said period. The study provides comprehensive analysis on market growth throughout the above forecast period in terms of value and volume estimates (US$ Mn and Million Units) across different geographies. 

Global LPG Cylinder Manufacturing Market: Trends and Opportunities

Adoption of advanced technologies by manufacturers for regulating, bulk storage handling, maintenance of LPG cylinders, etc. for better quality and safety of end-users is expected to trigger the market in the coming years. The promotion of innovative cylinder design, manufacturing standards, and maintenance and handling procedures in various regions across the globe in order to extend the life of the cylinder is expected to create opportunity for the LPG cylinder manufacturing market during the forecast period from 2018 to 2026. Moreover, standardizing LPG cylinder sizes and valve types by manufacturers is expected to save operational cost that may increase the efficiency of LPG cylinder manufacturing. The supply of leakage free LPG cylinder to end-users by better value addition such as protective packing and advanced seal is also gaining importance among end-users. 

Global LPG Cylinder Manufacturing Market: Key Segments

The LPG cylinder manufacturing market has been segmented on the basis of material, size, end-use, and geography. Based on material, the market has been classified into steel and aluminum. In terms of size, the LPG cylinder manufacturing market has been divided into 4 Kg- 15 Kg, 16 Kg- 25 Kg, 25 Kg-50 Kg, and more than 50 Kg. Based on end-use, the market is classified into domestic, commercial, and industrial. In terms of geography, the report classifies the LPG cylinder manufacturing market into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America.

Global LPG Cylinder Manufacturing Market: Scope of the Study

The report highlights key developments in the LPG cylinder manufacturing market. Porter’s Five Force Analysis which identifies bargaining power of suppliers, bargaining power of buyers, threat from new entrants, threat from substitutes, and degree of competition is included in the report. Value chain analysis which shows workflow in the LPG cylinder manufacturing market and identifies raw material service providers and distribution channels are covered in the report. Segment trends and regional trends are part of the report. It also covers segment-wise comparison matrix, incremental opportunity analysis, and market positioning of key players for all regions covered in the scope of study.

Incremental opportunity analysis identifies and compares attractiveness of segments based on CAGR and market share index across North America, Europe, Asia Pacific, Middle East & Africa, and South America along with all the countries included in these regions. The same has also been provided for the product segments. 

Global LPG Cylinder Manufacturing Market: Competitive Landscape

The report includes competition landscape which covers competition matrix and market share analysis of major players in the global LPG cylinder manufacturing market based on their 2017 revenues, and profiles of major players. Competition matrix benchmarks leading players based on their capabilities and potential to grow. Factors including market position, offerings, and R&D focus are attributed to a company’s capabilities. Top line growth, market share, segment growth, infrastructure facilities, and future outlook are attributed to a company’s potential to grow. This section also identifies and includes various recent developments carried out by leading players of the LPG cylinder manufacturing market.

Company profiling includes company overview, major business strategies adopted, and key developments. The companies profiled in the global LPG cylinder manufacturing market include Kishore Kela Group (Satyasai Pressure Vessels Ltd.), Dorian LPG Ltd., Confidence Petroleum India Ltd., Manchester Tank & Equipment Co., Sahamitr Pressure Container PLC., ECP Industries Limited, Mauria Udyog Limited, Shandong Huanri Group Co. Ltd., Hexagon Ragasco, Aygaz A.?., and Worthington Industries, Inc. 

The global LPG cylinder manufacturing market is segmented as below:

Material

  • Steel
  • Aluminum

Size

  • 4 Kg- 15 Kg
  • 16 Kg-25 Kg
  • 25 Kg-50 Kg
  • More than 50 Kg

End-use

  • Domestic
  • Commercial
  • Industrial

Geography

  • North America
    • LPG Cylinder Manufacturing Market, by Material
    • LPG Cylinder Manufacturing Market, by Size
    • LPG Cylinder Manufacturing Market, by End-use
    • LPG Cylinder Manufacturing Market, by Country/Region
      • U.S.
      • Canada
      • Rest of North America
  • Europe
    • LPG Cylinder Manufacturing Market, by Material
    • LPG Cylinder Manufacturing Market, by Size
    • LPG Cylinder Manufacturing Market, by End-use
    • LPG Cylinder Manufacturing Market, by Country/Region
      • Germany
      • United Kingdom
      • France
      • Italy
      • Rest of Europe
  • Asia Pacific
    • LPG Cylinder Manufacturing Market, by Material
    • LPG Cylinder Manufacturing Market, by Size
    • LPG Cylinder Manufacturing Market, by End-use
    • LPG Cylinder Manufacturing Market, by Country/Region
      • China
      • India
      • Japan
      • Rest of Asia Pacific
  • Middle East & Africa
    • LPG Cylinder Manufacturing Market, by Material
    • LPG Cylinder Manufacturing Market, by Size
    • LPG Cylinder Manufacturing Market, by End-use
    • LPG Cylinder Manufacturing Market, by Country/Region
      • GCC
      • North Africa
      • South Africa
      • Rest of Middle East &Africa
  • South America
    • LPG Cylinder Manufacturing Market, by Material
    • LPG Cylinder Manufacturing Market, by Size
    • LPG Cylinder Manufacturing Market, by End-use
    • LPG Cylinder Manufacturing Market, by Country/Region
      • Brazil
      • Rest of South America

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