LPG Cylinder Market By Size, Growth, Trends and Forecast 2028

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 156.25 Billion
CAGR (2023-2028)	5.23%
Fastest Growing Segment	Residential
Largest Market	Asia Pacific

Market Overview

Global LPG Cylinder Market was valued at USD 156.25 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.23% through 2028. The Global LPG Cylinder Market refers to the worldwide industry involved in the production, distribution, and utilization of LPG (liquefied petroleum gas) cylinders. LPG cylinders are pressurized containers used to store and transport liquefied petroleum gas, which is a flammable hydrocarbon gas mixture commonly used as a fuel for heating, cooking, and various industrial applications. The market encompasses the entire supply chain, from cylinder manufacturing and distribution to end-users such as households, commercial establishments, and industrial facilities. LPG is a versatile and energy-efficient source of fuel that is widely used as an alternative to traditional energy sources like electricity and natural gas. LPG cylinders provide a convenient way to store and transport LPG safely, making it accessible to a wide range of users in both urban and rural areas. The Global LPG Cylinder Market includes various types of cylinders designed for different applications and regions. These cylinders are typically made from materials such as steel, aluminum, or composite materials to withstand the pressure and characteristics of LPG. The market is characterized by a variety of cylinder sizes and capacities to cater to diverse customer needs, ranging from small household cylinders to large industrial cylinders.

Key Market Drivers

LPG cylinder is an effective fuel with a wide range of applications in the agricultural, recreational, hospitality, industrial, construction, sailing, and fishing industries. It can be used as fuel for water heating, central heating, and cooking, and it is a particularly affordable and effective way to heat off-grid dwellings. The yearly average price of LNG in Asian markets in 2022 was USD34 per million British thermal units (MMBtu), which is more than double the price in 2021.

The industrial, residential, and power generation sectors are all experiencing growing LPG demand, but the transportation sector has the greatest potential. Growing public awareness of the advantages of using LPG to replace fossil fuels and the increasing use of clean, green energy sources in developed and emerging nations are two factors that are likely to support the expansion of the LPG market. Additionally, technological factors along with the increasing number of government initiatives aimed at educating rural residents to switch from LPG to conventional cooking fuels like kerosene, wood, and coal are projected to play a critical part in the industry's development.

According to data, China's LPG imports from January to November 2022 increased by 7% year over year to 24.2 million mt, with supplies coming primarily from the US, the UAE, Oman, Qatar, and Saudi Arabia. The imports include a cheaper Iranian supply. Iranian shipments are anticipated to reach 8.3 million mt in 2023 after 6.82 million mt were shipped in 2022, mostly to China, according to shipping sources. According to trade sources, China will import 26.3 million mt of LPG in 2022, up from over 24.5 million mt in 2021, and 31.8 million mt in 2023, up 21% from the previous year. Hence, chine is the largest consumer of LNG, owing to which the market is anticipated to grow in the year 2023-2028.

Several Government Initiatives and Schemes Fueling the Market Growth

In the past years, coal has been used mostly in the poor countries to generate electricity and other forms of energy, with natural gas serving as a backup source. Today, emerging economies are looking for alternative sources. These include distributed generation—such as microgenerators and renewable energy, the latter of which depends on storage accessibility and a decrease in generation sporadicity. Authorities and energy providers have turned to economical, environmentally friendly, and generally simple alternative energy sources, though, due to several factors. Liquid petroleum gas (LPG) is frequently indicated with terms.

Income levels determine the purchasing power of the households and are an important factor affecting the demand for LPG cylinder. This is especially relevant among the lower income group households as the major alternative fuels, kerosene, and fuel wood, are available cheaper or at heavily subsidized rates. Several Government initiatives are taken by the government to increase consumption of LPG. Schemes like PAHAL aim at providing clean cooking gas connections to poor households which otherwise use traditional cooking fuels such as firewood, coal, cow-dung, etc. Since the inception of the scheme more than 80 million Ujwala beneficiaries have sought cylinder and average per capita consumption increased to around 3 refills per year. The scheme has gradually changed the adaptation to LPG cylinder by first time users seen as a positive change in the lives of these households which were long dependent on traditional cooking fuels. This has increased the demand for LPG cylinder from households significantly.

LPG cylinder marketeers have introduced smaller package sizes for LPG cylinders. The government has introduced a scheme for poor families where they can swap their 14 kg cylinder for a 5 kg cylinder. Under this scheme, they have the flexibility to switch between 14 kg and 5 Kg Cylinder. The consumers were also given the opportunity to access two 5 kg cylinder scheme. The scheme provides affordability to a large number of consumers in Tier 3 cities and Rural areas. Special subsidiary loans were also provided in which the LPG Marketeers deferred the payback period of loans for a period of one year or until six LPG refills are taken by the Government.

Increasing Village Level Entrepreneurs (VLC) & Digital Services

Increasing per capita income has increased LPG demand from rural and remote areas of the region. Various LPG vendors are continuously investing to improve distributor networks of LPG throughout the countries. Under the Digital India Program, a scheme is established, Common Service Centers (CSE) which are providing larger number of digital services in rural areas. Village level Entrepreneurs (VLC) are the key stakeholders of this scheme. These VLC have set up small agencies which provide LPG enrolment, refill booking and delivery services. These VLC can cater the LPG cylinder demand for remote areas and thus increasing the demand of LPG cylinders by widening distribution network.

Rising populations, incomes, and angles of urbanization are all contributing to rising energy demand in the emerging LPG Cylinder market. This is particularly true in significant portions of Asia, where the need for various fuels and energy usage has increased, most notably to produce power, home heating and cooking, transportation, and commercial applications.

The increased availability of piped natural gas in the region has become a threat to the LPG cylinder market. Due to the allocation of different geographical areas by PNGRB for setting up of new PNG supply chain facility in different regions, the availability of piped natural gas is slowly increasing year by year. LPG is majorly used in the residential sector and the supply of PNG through pipelines has attracted the people as it is safer than LPG. Also increasing distribution network of pipeline gas from Tier 1 to Tier 2 cities and providing better convenience are possessing a major threat to LPG cylinder demand.

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Key Market Challenges

Regulatory Compliance and Safety Standards:

LPG cylinders are subject to stringent safety regulations and standards due to the flammable nature of the gas they contain. Ensuring compliance with these standards across different regions and countries can be challenging, especially when dealing with varying regulatory frameworks. The improper use or mishandling of LPG cylinders can lead to accidents, leaks, and explosions. Ensuring proper training and awareness among users, as well as implementing robust safety measures during manufacturing, transportation, and storage, is a critical challenge.

In many countries, LPG is subsidized to make it affordable for consumers. However, changing subsidy policies or fluctuating global oil prices can impact the pricing and availability of LPG cylinders, affecting both consumers and industry players.

Infrastructure Limitations

Access to LPG cylinders can be limited in certain areas due to inadequate infrastructure for distribution and storage. Rural and remote regions may face challenges in accessing LPG cylinders, hindering the market's growth potential. The LPG Cylinder Market faces competition from alternative energy sources, such as electricity and natural gas. Balancing pricing strategies to remain competitive while ensuring profitability is a constant challenge for industry players. While LPG is considered a relatively cleaner fossil fuel, concerns about its carbon emissions and environmental impact persist. Addressing these concerns and aligning with sustainability goals is a challenge for the market. The market is witnessing advancements in cylinder materials, design, and safety features. Keeping up with technological innovations and adopting them while ensuring compatibility with existing infrastructure can be challenging.

Key Market Trends

Energy Transition and Clean Fuel Adoption:

The global push towards cleaner and more sustainable energy sources is driving the adoption of LPG as a cleaner alternative to traditional fuels. LPG emits fewer greenhouse gases and pollutants compared to coal and other fossil fuels. As countries aim to reduce their carbon footprints, the demand for LPG cylinders as a cleaner energy solution is on the rise. In many developing and emerging economies, LPG cylinders are becoming a preferred energy source for cooking and heating, especially in rural areas. Governments and organizations are promoting LPG to replace traditional biomass fuels, leading to increased demand for cylinders in these regions.

Technological Advancements in Cylinder Design

Innovations in cylinder design are focused on enhancing safety, efficiency, and user experience. Lightweight composite materials, improved valves, and advanced pressure monitoring systems are being integrated into cylinder designs to make them more user-friendly and efficient. The integration of Internet of Things (IoT) technology is enabling remote monitoring, tracking, and predictive maintenance of LPG cylinders. IoT-enabled cylinders provide valuable data to manufacturers, distributors, and end-users, enhancing safety and optimizing supply chains. Microdistribution models are gaining traction, particularly in regions with limited access to traditional energy infrastructure. These models involve delivering LPG cylinders directly to households and small businesses, ensuring convenient access to clean energy. The market is witnessing a shift towards sustainable packaging solutions. Efforts to reduce plastic waste and promote recycling are leading to innovations in cylinder packaging materials, contributing to a more circular economy. Industries and commercial sectors are diversifying their energy sources to ensure reliability and sustainability. LPG cylinders are being integrated into energy mix strategies as a backup and supplementary energy source during peak demand or energy shortages.

Segmental Insights

Application Insights

The residential segment dominated the global market in 2020, in terms of share, owing to rise in demand for liquefied petroleum gas from residential applications such as space & water heating, cooking, and power generation. In addition, it provides benefits such as cost-effectiveness, energy efficiency, and eco-friendly, which will further drive the market growth in the coming years.

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Regional Insights

The Asia Pacific region has established itself as the leader in the Global LPG Cylinder Market with a significant revenue share in 2022. Asia Pacific is the largest market for LPG gas Cylinder due to the high adoption of LP gas as a primary fuel for cooking and heating water at homes. There are abundant supplies of LP gas, and the forecasting numbers predict a sustained period of low prices barring any major political disruption. The chemical sector has seen tremendous growth in the region in recent years, utilizing this gas as the major feedstock in synthesizing various chemicals and plastics. The Autogas (LP gas as a transport fuel) market has developed more quickly in Asia Pacific. Governments have shown a robust and long-term policy commitment to promote LP gas as a transport fuel. This factor is also driving the liquefied petroleum gas market.

Recent Developments

Pavilion Energy, a Singapore-based provider of energy solutions, and Zhejiang Hangjiaxin Clean Energy signed a contract in December 2021 for the delivery of small-scale LNG. Beginning in 2023, Hangjiaxin is projected to receive 0.5 million tonnes of LNG annually from Pavilion Energy.
As part of the St. Petersburg International Economic Forum, NOVATEK signed small-scale LNG cooperation agreements with the governments of Moscow and the Samara area in June 2022. The parties want to increase the use of LPG as a source of transportation fuel and for off-grid clients' gas supply, and they want to build small LNG plants and the necessary support systems for sales.
In April 2021, Mitsui & Co. (Asia Pacific) Pte. Ltd., a Japanese conglomerate, and INOXCVA, an Indian multinational provider of cryogenic liquid storage, distribution, and re-gas solutions, signed a memorandum of understanding (MOU) for the establishment of a virtual pipeline in India and the deployment of small-scale LNG infrastructure, including logistics and receiving facilities at the customer's end, to provide access to LPG & LNG.
A gas-fired combined cycle power station will be built as part of the project in Taiwan's Longjing District. Beginning in Q3 2021, construction is scheduled to be completed in Q3 2026.The project's goal is to gradually replace the coal-fired units with a gas-fired plant. The project is located south of the Taichung Power Plant complex's No. 9 and No. 10 coal-fired units.
In Dongguan, Guangdong, China, a natural gas cogeneration power plant with a 920MW capacity is being built as part of the project. The construction project began in Q3 2021 and is anticipated to be finished in Q4 2023. In addition to helping the nation's economy and industrialization, the project intends to meet the region's rising demand for power.
On a 4ha plot of land at Kerawalapitiya in Wattala, Western Sri Lanka, a 300MW liquefied natural gas (LNG) power plant is being built as part of the project. Beginning in Q3 2021, construction is scheduled to be finished in Q4 2023. The project intends to meet the region's rising demand for power.

Key Market Players

China Huanri Group Co. Ltd
Hebei baigong high-pressure vessel Co. Ltd
Mauria Udyog Ltd
Metal Mate Co. Ltd
Sahamitr Pressure Container Plc
Supreme Industries Ltd
Time Technoplast Ltd
Worthington Industries Inc.

By Cylinder Material Type	By Application	By Size	By Region
Metal Composites	Residential/Consumer-use Power & Utilities Transport/Auto-fuel	0 to 5 Kg 6 to 10 Kg 11 Kg & Above	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global LPG Cylinder Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Global LPG Cylinder Market, By Cylinder Material Type:

o Metal

o Composites

Global LPG Cylinder Market, By Application:

o Residential/Consumer-use

o Power & Utilities

o Transport/Auto-fuel

Global LPG Cylinder Market, By Size:

o 0 to 5 Kg

o 6 to 10 Kg

o 11 Kg & Above

Global LPG Cylinder Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Asia-Pacific

§ China

§ India

§ Japan

§ South Korea

§ Indonesia

o Europe

§ Germany

§ United Kingdom

§ France

§ Russia

§ Spain

o South America

§ Brazil

§ Argentina

o Middle East & Africa

§ Saudi Arabia

§ South Africa

§ Egypt

§ UAE

§ Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global LPG Cylinder Market.

Available Customizations:

Global LPG Cylinder Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

o Detailed analysis and profiling of additional market players (up to five).

Global LPG Cylinder Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.3. Markets Covered

1.4. Years Considered for Study

1.5. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

4. Voice of Customers

5. Global LPG Cylinder Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Cylinder Material Type (Metal, Composites)

5.2.2. By Application (Residential/Consumer-use, Power & Utilities, Transport/Auto-fuel)

5.2.3. By Size (0 to 5 Kg, 6 to 10 Kg, 11 Kg & Above)

5.2.4. By Region

5.3. By Company (2022)

5.4. Market Map

6. North America LPG Cylinder Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Cylinder Material Type

6.2.2. By Application

6.2.3. By Size

6.2.4. By Country

6.3. North America: Country Analysis

6.3.1. United States LPG Cylinder Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Cylinder Material Type

6.3.1.2.2. By Application

6.3.1.2.3. By Size

6.3.2. Canada LPG Cylinder Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Cylinder Material Type

6.3.2.2.2. By Application

6.3.2.2.3. By Size

6.3.3. Mexico LPG Cylinder Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Cylinder Material Type

6.3.3.2.2. By Application

6.3.3.2.3. By Size

7. Global LPG Cylinder Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Cylinder Material Type

7.2.2. By Application

7.2.3. By Size

7.3. Asia-Pacific: Country Analysis

7.3.1. China LPG Cylinder Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Cylinder Material Type

7.3.1.2.2. By Application

7.3.1.2.3. By Size

7.3.2. India LPG Cylinder Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Cylinder Material Type

7.3.2.2.2. By Application

7.3.2.2.3. By Size

7.3.3. Japan LPG Cylinder Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Cylinder Material Type

7.3.3.2.2. By Application

7.3.3.2.3. By Size

7.3.4. South Korea LPG Cylinder Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Cylinder Material Type

7.3.4.2.2. By Application

7.3.4.2.3. By Size

7.3.5. Indonesia LPG Cylinder Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Cylinder Material Type

7.3.5.2.2. By End-User

7.3.5.2.3. By Size

8. Europe LPG Cylinder Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Cylinder Material Type

8.2.2. By End-User

8.2.3. By Size

8.2.4. By Country

8.3. Europe: Country Analysis

8.3.1. Germany LPG Cylinder Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Cylinder Material Type

8.3.1.2.2. By Application

8.3.1.2.3. By Size

8.3.2. United Kingdom LPG Cylinder Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Cylinder Material Type

8.3.2.2.2. By Application

8.3.2.2.3. By Size

8.3.3. France LPG Cylinder Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Cylinder Material Type

8.3.3.2.2. By Application

8.3.3.2.3. By Size

8.3.4. Russia LPG Cylinder Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Cylinder Material Type

8.3.4.2.2. By Application

8.3.4.2.3. By Size

8.3.5. Spain LPG Cylinder Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Cylinder Material Type

8.3.5.2.2. By Application

8.3.5.2.3. By Size

9. South America LPG Cylinder Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Cylinder Material Type

9.2.2. By Application

9.2.3. By Size

9.2.4. By Country

9.3. South America: Country Analysis

9.3.1. Brazil LPG Cylinder Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Cylinder Material Type

9.3.1.2.2. By Application

9.3.1.2.3. By Size

9.3.2. Argentina LPG Cylinder Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Cylinder Material Type

9.3.2.2.2. By Application

9.3.2.2.3. By Size

10. Middle East & Africa LPG Cylinder Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Cylinder Material Type

10.2.2. By Application

10.2.3. By Size

10.2.4. By Country

10.3. Middle East & Africa: Country Analysis

10.3.1. Saudi Arabia LPG Cylinder Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Cylinder Material Type

10.3.1.2.2. By Application

10.3.1.2.3. By Size

10.3.2. South Africa LPG Cylinder Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Cylinder Material Type

10.3.2.2.2. By Application

10.3.2.2.3. By Size

10.3.3. UAE LPG Cylinder Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Cylinder Material Type

10.3.3.2.2. By Application

10.3.3.2.3. By Size

10.3.4. Israel LPG Cylinder Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Cylinder Material Type

10.3.4.2.2. By Application

10.3.4.2.3. By Size

10.3.5. Egypt LPG Cylinder Market Outlook

10.3.5.1. Market Size & Forecast

10.3.5.1.1. By Value

10.3.5.2. Market Share & Forecast

10.3.5.2.1. By Cylinder Material Type

10.3.5.2.2. By Application

10.3.5.2.3. By Size

11. Market Dynamics

11.1. Drivers

11.2. Challenge

12. Market Trends & Developments

13. Company Profiles

13.1. China Huanri Group Co. Ltd

13.1.1. Business Overview

13.1.2. Key Revenue and Financials (If Available)

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services

13.2. Hebei baigong high-pressure vessel Co. Ltd.

13.2.1. Business Overview

13.2.2. Key Revenue and Financials (If Available)

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services

13.3. Mauria Udyog Ltd.

13.3.1. Business Overview

13.3.2. Key Revenue and Financials (If Available)

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services

13.4. Metal Mate Co. Ltd.

13.4.1. Business Overview

13.4.2. Key Revenue and Financials (If Available)

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services

13.5. Sahamitr Pressure Container Plc

13.5.1. Business Overview

13.5.2. Key Revenue and Financials (If Available)

13.5.3. Recent Developments

13.5.4. Key Personnel

13.6. Key Product/Services

13.7. Supreme Industries Ltd.

13.7.1. Business Overview

13.7.2. Key Revenue and Financials (If Available)

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services

13.8. Time Technoplast Ltd.

13.8.1. Business Overview

13.8.2. Key Revenue and Financials (If Available)

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services

13.9. Worthington Industries Inc.

13.9.1. Business Overview

13.9.2. Key Revenue and Financials (If Available)

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global LPG Cylinder Market in 2022?

The market size of the Global LPG Cylinder Market was USD 156.25 Billion

Which was the dominant segment in the Global LPG Cylinder Market in 2022?

The LPG Cylinder Market is dominated by the Residential segment in 2022.

What is the main Challenge in the Global LPG Cylinder Market?

Demand of LPG in rural areas is also impacted by the relative prices of LPG and kerosene. The government provides higher subsidies on kerosene which is the most important alternative domestic fuel. The factors negatively affecting the market growth in the forecast period.

What are the major drivers for the Global LPG Cylinder Market?

Income levels determine the purchasing power of the households and are an important factor affecting the demand for LPG. This is especially relevant among the lower income group households as the major alternative fuels, kerosene and fuel wood are available cheaper or at heavily subsidized rates. Above mentioned factors are affecting the positive market growth in the future.

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Parvati Sharma

Account Manager BD

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Press Release

Global LPG Cylinder Market is Expected to Grow with A High CAGR In the Forecast Period

Nov, 2023

Rising usage of liquefied petroleum gas as a fuel & growing government initiatives towards cooking fuels propelling the market growth.

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