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.
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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
- In 2018, Worthington Industries launched fully recyclable composite LPG cylinders named as Fourtis® to be used for water heating, cooking, and outdoor grilling. The cylinder has been developed by Amtrol-Alfa, which was recently acquired by Worthington Industries.
- India has emerged as the 2nd largest LPG consumer in the world under with a number of initiatives by the government to promote LPG across the country, with a special focus on rural areas. Under Pradhan Mantri Ujjwala Yojana (PMUY), the government is providing free (LPG) connection to the poor. Moreover, under direct benefit transfer, the government is supplying LPG cylinders at market rate rather than at subsidized rate and is transferring the subsidy amount in banks.
The report provides insights on the key players in the LPG gas cylinder market. Some of the leading players in the market are Huanri Group, Sahamitr Pressure Container, Hexagon Composites, Metal Mate, Time Technoplast, Mauria Udyog, and Worthington Industries
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.
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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
- Leisure and Others
Based on cylinder type, the LPG gas cylinder market is segmented into
- Metal LPG cylinder
- Composite LPG cylinder
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This post was originally published on The Market Plan