Latest News- Liquefied Petroleum Gas Cylinder Market: Metal is expected to lead the Type segment during 2025-2029

The Liquefied Petroleum Gas Cylinder Market is being driven by Increasing use of liquefied petroleum gas in many applications

The Liquefied Petroleum Gas Cylinder Market is expected to grow at a CAGR of 6.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 722.5 million. In the Liquefied Petroleum Gas (LPG) market, composite cylinders have emerged as a preferred choice for businesses and consumers due to their numerous advantages. These cylinders are manufactured using advanced fiberglass technology, resulting in a product that is lighter, explosion-proof, and non-corrosive. Compared to traditional steel cylinders, composite cylinders offer greater safety, as they do not explode even during fires or leakages. Additionally, they are available in various colors and are easier to handle. Composite cylinders' flexibility extends to their capacity, making them a versatile solution in the LPG industry. The adoption of composite cylinders has significantly increased in developed countries such as the US and the UK, contributing to potential life savings from kitchen accidents. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Metal
  • Composite
• End-user
  • Residential
  • Commercial
  • Industrial
• Capacity
  • 5 to 15 kg
  • Less than 5 kg
• Product Type
  • Manual valve cylinders
  • Automatic valve cylinders
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing use of liquefied petroleum gas in many applications
• Rising safety and quality standards of liquefied petroleum gas cylinder
• Rise in population growth and urbanization

However, the market also witnesses some limitations, which are as follows:

• Availability of alternate fuels
• Re-use of scrapped cylinders
• Risks associated with liquefied petroleum gas cylinders

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Market Scope in Liquefied Petroleum Gas Cylinder Market Research Report

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Research Analysis Overview

The Liquefied Petroleum Gas (LPG) Cylinder Market encompasses various aspects, including cylinder durability and lifespan, leakage and corrosion concerns, flammability and explosion risks, safety regulations, and training. Market segments include residential, commercial, and industrial sectors. LPG market growth is driven by factors like efficiency, cost savings, environmental impact, and sustainability. Innovations in cylinder technology, automation, monitoring, tracking, telemetry, and management systems contribute to market trends. Price trends, demand, and supply dynamics, as well as fuel efficiency and energy consumption, are also significant. Renewable LPG sources, carbon emissions, and fuel efficiency are key sustainability concerns. LPG cylinder safety remains a top priority with ongoing efforts to minimize risks and ensure regulatory compliance.

Market Research Overview

The global oil and gas storage and transportation sector encompasses businesses involved in the transportation and storage of hydrocarbons, including LPG cylinders such as propane and butane. This sector is a crucial component of the oil and gas value chain, contributing significantly to the industry's revenue generation. According to Technavio, market growth is driven by escalating energy demand, dwindling fossil fuel reserves, volatile fuel prices, and environmental concerns. These factors necessitate the development and implementation of efficient and sustainable storage and transportation solutions for LPG cylinders and other hydrocarbons.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/