A recent report published by Infinium Global Research on LPG cylinder manufacturing market provides an in-depth analysis of segments and sub-segments in the global as well as regional LPG cylinder manufacturing market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional LPG cylinder manufacturing market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global LPG cylinder manufacturing market. According to the report, the global LPG cylinder manufacturing market is projected to grow at a CAGR of 4.1% over the forecast period of 2019-2025.
LPG cylinders manufacturing industry is going through rapid changes. The government initiative is a major reason behind the increasing demand for LPG cylinders. The key players in LPG cylinder manufacturing are focusing on mergers and acquisitions to expand its market share.
Rapid urbanization, increasing disposable income, and growing residential sector drive the growth of the LPG cylinder manufacturing market. LPG cylinder manufacturers are adopting advanced technology for regulating, bulk storage handling and maintenance of LPG cylinders which contributes to improved quality and safety. Manufacturers are offering leakage free LPG cylinders to consumers that include protective packaging and advanced seal. Such factors boost the growth of the LPG cylinder manufacturing market. The availability of new LPG cylinder designs and rules regarding manufacturing standards stimulate the growth of the LPG cylinder manufacturing market. In addition, government schemes regarding the usage of LPG cylinders propel the growth of the LPG cylinder manufacturing market. On the other side, the availability of alternatives to LPG cylinders such as induction cookers, air fryers, solar cookers, and biogas hinders the growth of the LPG cylinder manufacturing market. Moreover, the increasing demand for LPG cylinders in rural households creates new opportunities for LPG manufacturers to expand their market share.
Geographically, the global LPG cylinder manufacturing market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific region is anticipated to be dominant in the global LPG cylinder manufacturing market. India is the second largest importer of LPG in the world that contributes to the growth of the global LPG cylinder manufacturing market. North America is also growing in the global LPG cylinder manufacturing market over the forecast period.
The report on global LPG cylinder manufacturing market covers segments such as material, size, and end-use. On the basis of material, the sub-markets include steel, and aluminium. On the basis of size, the sub-markets include 4 kg - 15 kg, 16 kg - 25 kg, 25 kg – 50 kg, and more than 50 kg. On the basis of end-use, the sub-markets include domestic, commercial, and industrial.
The report provides profiles of the companies in the market such as Confidence Petroleum India Ltd., Aygaz, Dorian LPG Ltd., Hexagon Ragasco AS, Manchester Tank & Equipment Co., Sahamitr Pressure Container PLC, Mauria Udyog Ltd., Shandong Huanri Group Co. Ltd., Worthington Industries, Kishore Kela Group, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of LPG cylinder manufacturing market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.