Europe Composite LPG Cylinder Market to Grow at a Formidable Rate During Forecast Period
Rising adoption of composite
LPG cylinders and increasing government initiatives to propel the growth of
Europe composite LPG cylinder market
According to
Tech Sci Research report, “Europe
Composite LPG Cylinder Market By Product, By Size, By Application, By
Country, Competition, Forecast
& Opportunities, 2025”, the Europe composite LPG
cylinder market is expected to witness a robust CAGR of close to 9% during the
forecast period on account of increasing demand for lightweight, explosion
proof and non-corrosive LPG cylinders coupled with rising government initiatives
towards the usage of composite cylinders. Moreover, growing preference for LPG to
be used as a cooking fuel over conventional & inefficient sources in the
region is also projected to boost the growth of Europe composite LPG cylinder
market during the next 5 years. Additionally, due to ease of transportation and
low production cost, the government is encouraging the production of composite
LPG cylinders, which is anticipated to aid the market growth over the coming
years.
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In
terms of application, the Europe composite LPG cylinder market is fragmented
into kitchen & domestic use, transportation, recreational use, and others.
Among them, the kitchen & domestic use segment dominated the market in
terms of largest market share until 2019 and is anticipated to hold its dominance
during the forecast period as well attributable to the rapid shift of
preference of domestic consumers from type I steel LPG cylinders to type IV
composite LPG cylinders.
Hexagon
Composites, Aburi Composites, Amtrol-Alfa, Time Technoplast Ltd., Metal Mate,
ALAMAN Gas Cylinders, Worthington Industries, Maurya Udyog Limited, Sahamitr
Pressure Container, Metal Mate Co., Ltd and others are some of the leading
players operating in Europe composite LPG cylinder market.
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“The Europe composite
LPG cylinder market is growing rapidly due to the presence of leading composite
LPG cylinder manufacturers such as Hexagon Composites, Aburi Composites, and
Metal Mate that are focusing on increasing their geographical presence by executing their global operations from Europe. Additionally, early
adoption of composite LPG cylinders is the main reason for the regional
dominance until 2019. Moreover, due to the increasing applications of composite
LPG cylinders, Europe composite LPG cylinder market is estimated to grow at a
rapid pace over the coming years.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Europe Composite LPG Cylinder Market By Product,
By Size, By Application, By Country, Competition, Forecast
& Opportunities, 2025” has evaluated
the future growth potential of Europe composite LPG cylinder market and
provides statistics & information on market size, structure and future
market growth. The report intends 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 in Europe composite LPG cylinder market.
Contact
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