The Residential Sector is Anticipated to Dominate the India LPG Cylinder Market with the Largest Market Share in the Forecast Period
India’s
focus towards adopting clean/ sustainable energy sources and various government
initiatives are promoting India LPG Cylinder market in the forecast period.
According
to TechSci Research report, “India LPG Cylinder Market- By Region,
Competition, Forecast & Opportunities, 2029F”, the India LPG Cylinder market is anticipated to register
a high CAGR in the forecast period. The modern-day call for hubs being created,
which include rural LPG families and the favorable situation for AutoLPG, are
anticipated to create great possibilities for the LPG cylinder market players. The
urbanization rate in India is rising, driving the growth of the LPG cylinder
market. As people move to urban areas, they have access to better
infrastructure, including LPG distribution networks. This makes it easier for
them to get LPG cylinders, which is boosting its demand.
Furthermore,
the prices of LPG have been declining in recent years, making it more
affordable for consumers. This is also driving the growth of the LPG cylinder
market. For instance, Indian Oil has reduced the expenses of LPG cylinders business.
Announcing the information on its website, the oil advertising and marketing
organization stated that the brand-new expenses could be relevant from 1 June
2023. After this modern deduction, the nineteen kg business LPG cylinder will
retail at INR 1773 in Delhi as compared to INR 1856.50 earlier. Similarly, the
economic cylinder will fee INR 1,875.50 in Kolkata (INR 1960.50 earlier), INR
1,725 in Mumbai (INR 1808.50 earlier), and INR 1937 in Chennai (INR 2021.50
earlier). Since the cost is decreasing, the market is expected to grow in the
forecast period.
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Furthermore, India has witnessed a remarkable surge in the demand
for liquefied petroleum gas (LPG) cylinders in recent years. This growth can be
attributed to two key factors: the rise of Village Level Entrepreneurs (VLC)
and the increasing adoption of digital services. Both these factors have revolutionized the
distribution and accessibility of LPG cylinders in rural areas, empowering
communities and driving economic development.
Village Level Entrepreneurs (VLCs) have
emerged as a vital link between LPG suppliers and remote rural areas. These
enterprising individuals establish small businesses at the village level to
distribute LPG cylinders, catering to the needs of the local population. VLCs
are often local residents who understand the unique challenges faced by their
communities and possess the knowledge and connections necessary to navigate
them effectively. By leveraging their entrepreneurial skills, VLCs have become
key drivers of LPG cylinder adoption, particularly in regions where traditional
distribution networks may be inadequate.
Key
market players in the India LPG Cylinder Market include:
- Indian Oil Corporation Limited
- Bharat Petroleum Corporation Limited
- Haldia Petrochemicals Ltd (HPL)
- Gujarat Gas Limited
- Maharashtra Natural Gas Limited
- Shv Energy Private Limited
- Aegis Logistics Limited
- Confidence Petroleum India Limited
- Time Technoplast Limited
- Prestige Feed Mills Ltd.
The
India LPG Cylinder Market is segmented based on Material Type, Cylinder type,
Application, Size, and region. Based on Material Type, the market is segmented
into Glass Fiber composites, Metal, and Others. Based on Cylinder type, the
market is segmented into Metal and Composites. Based on Application, the market
is segmented into Residential/Consumer-use, Power & Utilities, and
Transport/Auto-fuel. Based on Size, the market is divided into 0 to 5 Kg, 6 to
10 Kg, and 11 Kg & Above. Based on region, the market is segmented into
West, North, South, and East.
Based
on Application, the market is segmented into Residential/Consumer-use, Power
& Utilities, and Transport/Auto-fuel. The residential sector is expected to
dominate the market in the forecast period. Due to this, the availability of
LPG cylinders has increased in recent years, making them more accessible to
households. This is due to the government's initiatives to promote the use of
LPG, such as the Pradhan Mantri Ujjwala Yojana (PMUY). In addition, LPG is a
convenient and safe cooking fuel. It is easy to use and does not produce smoke
or harmful pollutants. This makes it a popular choice for the residential
sector.
The
number of Transport/Auto-fuel establishments is increasing in India, which is
driving the demand for LPG cylinders in Transport/Auto-fuel sector. This is due
to the growing number of transport facilities in India.
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“The
India LPG cylinder market has experienced significant growth due to the efforts
of Village Level Entrepreneurs (VLCs) and the adoption of digital services. With
continued support and advancements in technology, the VLC-driven and digitally
enabled LPG cylinder market in the Indian nation is poised for further
expansion and success due to which the market is expected to grow in the
future.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“India
LPG Cylinder Market By Material Type (Steel, Composite, And Others), By
Material Type (Glass Fiber Composites, Metal, Others), By Cylinder type (Metal,
Composites), By Application (Residential/Consumer-use, Power & Utilities,
Transport/Auto-fuel), By Size (0 to 5 Kg, 6 to 10 Kg, 11 Kg & Above)By
Region, Competition, Forecast and Opportunities, 2028..”,
has evaluated the future growth potential of India LPG Cylinder Market and
provides statistics and information on market structure, size, share, and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision-makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the India LPG Cylinder Market.
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