Global LPG Cylinder Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global LPG Cylinder Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global LPG cylinder market report has been segmented on the basis of product type, application, and region.

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Global LPG Cylinder Market: Overview

Liquid petroleum gas (LPG) is used as a fuel in vehicles, cooking equipment, and heating appliances. Liquid petroleum gas cylinder has two types such as LPG steel cylinders and LPG composite cylinders.

Global LPG Cylinder Market: Dynamics

Increasing adoption for LPG cylinder in various purposes such as domestic use and camping is expected to boost growth of the global market over the forecast period.  In addition, various schemes and subsidies by governments for LPG gas cylinder is also expected to drive growth of the global LPG cylinder market over the forecast period.

Rising adoption of LPG cylinder in a rural area for domestic and cooking purposes is expected to bolster growth of the global LPG cylinder market over the forecast period. In addition, increasing urbanization acts as an emerging growth of the global LPG cylinder market.

In addition, the increasing usage for LPG gas cylinder in different sectors namely hospitality, construction, transportation, hot air balloons, and agriculture is also anticipated to propel the demand for LPG cylinder and drives growth of the global market during the long run.

However, the high cost of the LPG cylinder is a key factor which may hamper demand and restrain growth of the global market over the forecast period.

Global LPG Cylinder Market: Segment Analysis

Among the product type, the LPG composite cylinder segment is expected to account for the significant growth in the global LPG cylinder market over the forecast period, owing to properties such as lightweight nature, better fuel storage capacity, non-corrosive, high efficiency, and safety.

Among the application, the residential segment contributes leading share in the global LPG cylinder market, due to the increasing demand for LPG cylinder in a residential area for cooking and poorly developed gas pipeline network.

Global LPG Cylinder Market: Region Analysis

The Asia Pacific LPG cylinder market accounted for the major share in terms of revenue in the global market due to the increasing adoption of the LPG cylinder in residential areas in countries such as Japan, India, Korea, and China in the region.

The market in the Middle East and Latin America is expected to register a significant growth rate in terms of revenue in the global market during the forecast period, owing to increasing awareness about benefits of LPG cylinder in countries in the region.

North America and Europe are at a mature stage in the global market and expected to contribute the moderate share in the market over the forecast period.

Global LPG Cylinder Market Segmentation:

Segmentation by Product Type:

LPG Steel Cylinders
LPG Composite Cylinders
Others

Segmentation by Application:

Residential
Petrochemical
Industrial and commercial
Transport