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    Composite LPG Cylinders Market Size, Share & Forecast (2017-2022)

    Composite LPG Cylinders Market Size, Share & Forecast (2017-2022)
    Report code - SRCG108 Published On : Jul,2017 No. of Pages: 210

    Composite LPG Cylinders Market Size, Share, Trend, Forecast, & Competitive Analysis See more...

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    Composite LPG Cylinders Market Insights

    The global composite LPG cylinders market size 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.

    Composite LPG Cylinders Market Share Analysis

    Insights by Cylinder Type

    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.

    Insights by Type of Applications

    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.

    Key Players

    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.

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are 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. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Market Scope & Segmentation

    Composite LPG Cylinder is manufactured from advanced composite materials and offers a number of features such as quality products, great design, reliable safety, and innovation that can meet up the gas containment standards. The features and the benefits of these composite LPG cylinders make it much beneficial and better to the steel LPG cylinders.

    Composite LPG cylinder is designed in a way that it can operate in different weather conditions. These cylinders are useful in case of household purposes, are great for recreation purposes, and also is used in commercial options.

    Research Scope

    Trend & Forecast Period

    2011-2022

    Size in 2022

    189.7 million

    Forecast

    9.7% CAGR during 2017-2022

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries Covered

    The USA, Canada, Mexico, Germany, France, The UK, Norway, Russia, Thailand, Bangladesh, South Korea, The Middle East, Latin America and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The market is segmented in the following ways:

    Composite LPG Cylinders Market Size, Share & Forecast by Cylinder Type:

    • Type III Cylinder
    • Type IV Cylinder

    Composite LPG Cylinders Market Size, Share & Forecast by Size Type:

    • 0-5kg
    • 6-10kg
    • 11kg & Above

    Composite LPG Cylinders Market Size, Share & Forecast by Application Type:

    • Kitchen & Domestic Use
    • Transportation
    • Recreational Use
    • Others

    Composite LPG Cylinders Market Size, Share & Forecast 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 Features

    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 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.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.


    A birds eye view of the Composite LPG Cylinders Market

    What will be the size of the Composite LPG Cylinders Market in the foreseeable years?

    Driven by a number of factors like Increasing demand for lightweight, the composite LPG cylinders market size is projected to reach an estimated value of US$ 189.7 million in 2022.

    Which type of application is expected to remain dominant?

    Kitchen & domestic use is expected to remain most dominant application type in the global composite LPG cylinders market during the forecast period.

    Who are the key players in the Composite LPG Cylinders Market?

    Hexagon Composites ASA, Aburi Composites, Amtrol-Alfa, Time Technoplast Ltd., and Metal Mate Co., Ltd., and AL Aman Gas Cylinders Manufacturing LLC. are among the key players in the Composite LPG Cylinders Market.

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