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 due to their superior features. These cylinders are lighter in weight than traditional steel cylinders, making them easier to handle and transport. Additionally, they are explosion-proof and non-corrosive, ensuring increased safety. The advanced fiberglass technology used in their manufacturing results in cylinders that do not explode even in the event of fire or leakage, thereby reducing potential risks. Furthermore, composite cylinders are available in various colors and capacities, providing flexibility to businesses. The adoption of composite LPG cylinders is on the rise in developed markets such as the US and UK, due to their enhanced safety benefits and convenience. 

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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) market encompasses the production, manufacturing, and distribution of LPG, including propane gas and butane gas, used as fuel and for cooking and heating. This involves cylinder manufacturing, design, testing, recycling, and disposal, all governed by stringent safety regulations. Safety training, equipment, leak detection, fire suppression, and emergency response are crucial components. Market trends include price volatility, growth, industry outlook, technology advancements such as digitalization, smart metering, remote monitoring, and reduced carbon footprint through renewable energy and biogas.

Market Research Overview

The global oil and gas storage and transportation market encompasses businesses involved in the transportation and storage of hydrocarbons, including liquefied petroleum gas (LPG) cylinders, such as propane and butane, and gas cylinders. This sector, also known as the midstream, represents a crucial link in the oil and gas value chain. According to Technavio, market size is determined by the consolidated revenues of equipment, supply, and service providers. Key growth drivers include escalating energy demand, dwindling fossil fuel reserves, volatile fuel prices, and environmental concerns.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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