Dallas, TX -- (SBWire) -- 11/26/2018 --According to a new market report published by Lucintel, the future of the global LPG cylinder market looks good with opportunities in household, automobile, leisure, and other outdoor applications. The global LPG cylinder market is expected to reach an estimated $2.1 billion, and it is forecast to grow at a CAGR of 3.1% from 2018 to 2023. The major growth drivers for this market are increasing use of liquefied petroleum gas as a fuel source and lack of infrastructure for the transportation of piped natural gas (PNG).
Browse 108 market data tables and 141 figures spread through 193 pages and in-depth TOC on "Global LPG Cylinder Market"
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In this market, different types of LPG cylinder grades such as metal, composite, and others in various material consumption. Lucintel forecasts that metal LPG cylinder will remain the largest segment. Lower cost as compared to composite cylinders and low penetration of gas pipeline network in developing countries are likely to drive the demand for this segment over the forecast period. The composite cylinder segment is expected to witness the highest growth during the forecast period supported by lightweight, and its non-corrosive properties.
LPG cylinders are used in carrying gas for household will remain the largest segment and it is also expected to witness highest growth during the forecast period. Increasing use of liquefied petroleum gas as a fuel for cooking and unavailability of gas pipeline network are driving growth of this segment over the forecast period.
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APAC is expected to remain the largest market and it is also expected to witness the highest growth over the forecast period due to LPG being the major source of cooking fuel in most of the countries and the lack of infrastructure for piped natural gas in this region.
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Emerging trends, which have a direct impact on the dynamics of the LPG cylinder market, include increasing adoption of composite LPG cylinders and widening the size range of composite LPG cylinders to meet the needs of different consumers. Worthington Industries, Maurya Udyog Limited, Hexagon Composites, Sahamitr Pressure Container, and Time Technoplast are among the major LPG cylinders manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global LPG cylinders market by cylinder type, application, material consumption, and region and has come up with a comprehensive research report entitled "Growth Opportunities in the Global LPG Cylinder Market 2018-2023: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global LPG cylinders market by cylinder type, application, material consumption, and region as follows:
By Cylinder Type [Value ($ Million) and Volume (Million Units) from 2012 to 2023]
- Metal LPG Cylinder
- Composite LPG Cylinder
- Others

By Application [Value ($ Million) and Volume (Million Units) from 2012 to 2023]:
- Households
- Automobiles
- Leisure and Others

By Material Consumption [Value ($ Million) and Volume (Million lbs) from 2012 to 2023]:
- Metal
- Composite
- Others
By Region [Kilotons and $M shipment analysis for 2012 – 2023]:
- North America
– United States
- Europe
– Germany
– Italy
- Asia Pacific
– China
– India
– Thailand
- The Rest of the World
– Iran
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This 193-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/lpg-cylinder-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q.1 What are some of the most promising, high-growth opportunities for the global LPG cylinder market to 2023 by cylinder type (metal LPG cylinders and composite LPG cylinders), application (households, automobile, and leisure), material consumption (metal, composite, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?