LPG Cylinder Manufacturing Market

Market Overview:

The global LPG cylinder manufacturing market size reached US$ 4.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.8 Billion by 2032, exhibiting a growth rate (CAGR) of 3.58% during 2024-2032. The rising adoption of LPG cylinders in households, the increasing demand for automotive LPG cylinders, and the introduction of automation technologies represent some of the key factors driving the market.

Liquefied petroleum gas (LPG) cylinder manufacturing refers to the process of designing, producing, and testing cylinders for storage, transportation, and containment of LPG. These cylinders are pressurized vessels with elongated, upright, and flat bottom designs used for storing LPG above atmospheric pressure. LPG cylinder manufacturing involves multiple steps, such as acquiring raw materials, blanking, body forming, deep drawing and piercing, trimming, and welding of valve guard ring, foot ring, and valve boss. The manufactured cylinders further undergo heat treatment, shot blasting, surface coating, painting, valve attachment, and various final testing, including pneumatic leakage, burst, volumetric expansion, and hydro-testing. LPG cylinder manufacturing maintains superior product quality and offers convenience, easy portability, durability, and cost and energy efficiency.

LPG Cylinder Manufacturing Market Trends:

The rising adoption of LPG cylinders in households across the globe is one of the key factors driving the market growth. LPG cylinders are widely used for cooking and power gas cooktops, ovens, fireplaces, barbecue grills, and backup generators. In line with this,  the widespread product utilization in various heating appliances, such as water heaters, central heating systems, and portable heaters, due to its easy storage, and convenience, is acting as another growth-inducing factor. Additionally, shifting consumer preference from traditional cooking fuels, such as charcoal, coal, animal waste, wood, and kerosene to LPG as a cooking fuel, is favoring the market growth. Furthermore, the rapid expansion of commercial kitchens, such as restaurants, diners, eateries, food trucks, and cafeterias that rely heavily on LPG cylinders for cooking, is providing an impetus to the market growth. Apart from this, increasing demand for automotive LPG cylinder to power personal and commercial vehicles, as it is cost-effective, tamper-proof, low maintenance, and reduce carbon dioxide (CO2) emissions are propelling the market growth. Moreover, the introduction of automated production, testing, and painting technologies in the manufacturing process to enhance efficiency, reduce labor costs, minimize errors, and maintain product consistency and quality is positively influencing the market growth. Besides this, the launch of advanced LPG cylinders made from fiberglass and composite materials that are lightweight, non-corrosive, and explosion-proof is facilitating the market growth. Other factors, including rising expenditure capacities of consumers, the implementation of various government initiatives for the adoption of LPG cylinders through subsidies and awareness campaigns, and the widespread product demand in manufacturing, agriculture, chemical, and marine industries, are anticipated to drive the market growth further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global LPG cylinder manufacturing market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on material, size, and end user.

Material Insights:

• Steel
• Aluminum
   

The report has provided a detailed breakup and analysis of the LPG cylinder manufacturing market based on the material. This includes steel and aluminum. According to the report, steel represented the largest segment.

Size Insights:

• 4 Kg – 15 Kg
• 16 Kg – 25 Kg
• 25 Kg – 50 Kg
• More than 50 Kg
   

A detailed breakup and analysis of the LPG cylinder manufacturing market based on the size has also been provided in the report. This includes 4 Kg – 15 Kg, 16 Kg – 25 Kg, 25 Kg – 50 Kg, and more than 50 Kg. According to the report, 4 Kg – 15 Kg accounted for the largest market share.

End User Insights:

• Domestic
• Commercial
• Industrial
   

A detailed breakup and analysis of the LPG cylinder manufacturing market based on the end user has also been provided in the report. This includes domestic, commercial, and industrial. According to the report, domestic accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for LPG cylinder manufacturing. Some of the factors driving the Asia Pacific LPG cylinder manufacturing market included the rising adoption of LPG cylinders in households, the widespread product utilization in various heating appliances and the introduction of automated production methods.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global LPG cylinder manufacturing market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Aygaz A.S., Confidence Petroleum India Limited, ECP Industries Limited, Hexagon Ragasco AS (Hexagon Composites ASA), Manchester Tank (McWane Inc.), Mauria Udyog Ltd., Sahamitr Pressure Container PLC, Satyasai Pressure Vessels Group, Shandong Huanri Group Co. Ltd., Worthington Industries Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global LPG cylinder manufacturing market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global LPG cylinder manufacturing market?
• What is the impact of each driver, restraint, and opportunity on the global LPG cylinder manufacturing market?
• What are the key regional markets?
• Which countries represent the most attractive LPG cylinder manufacturing market?
• What is the breakup of the market based on the material?
• Which is the most attractive material in the LPG cylinder manufacturing market?
• What is the breakup of the market based on the size?
• Which is the most attractive size in the LPG cylinder manufacturing market?
• What is the breakup of the market based on end user?
• Which is the most attractive end user in the LPG cylinder manufacturing market?
• What is the competitive structure of the global LPG cylinder manufacturing market?
• Who are the key players/companies in the global LPG cylinder manufacturing market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the LPG cylinder manufacturing market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global LPG cylinder manufacturing market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the LPG cylinder manufacturing industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.