The rising adoption of liquefied petroleum gas (LPG) as a fuel and growing government initiatives for cooking fuels are driving market growth.
TechSci Research’s report, “Asia-Pacific LPG Cylinder Market – By Country, Competition, Forecast & Opportunities, 2028F,” forecasts growth in the Asia-Pacific LPG Cylinder Market fueled by the increasing use of LPG as a fuel source in the region. Emerging trends include the shift to composite LPG cylinders and the expansion of cylinder size ranges to meet diverse consumer needs. These trends offer significant opportunities for businesses in the sector to achieve sustainable growth and gain a competitive advantage by aligning their operations accordingly.
The market’s growth is supported by increasing LPG consumption and government efforts to promote cleaner fuel usage. However, challenges may arise from the adoption of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) as alternatives to LPG. Nonetheless, growth is expected to be sustained by growing public awareness of LPG’s benefits over fossil fuels and the increasing adoption of clean energy sources.
Technological advancements and government campaigns to educate rural populations about transitioning from LPG to traditional cooking fuels like kerosene, wood, and coal are expected to drive industry progress. Businesses should monitor these factors to capitalize on growth opportunities and effectively address potential challenges.
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The Asia-Pacific LPG Cylinder Market is categorized by material type, cylinder type, application, size, and country. Material types include Glass Fiber Composites, Metal, and Others. Cylinder types are divided into Metal and Composites. Applications comprise Residential/Consumer-Use, Power & Utilities, and Transport/Auto-Fuel. Sizes range from 0 to 5 Kg, 6 to 10 Kg, and 11 Kg & Above.
Country-wise, the market covers China, Japan, India, South Korea, Australia, Vietnam, Indonesia, Singapore, Philippines, Malaysia, and India. China is poised to lead due to its large population, with significant LPG purchases reported in 2020. Meanwhile, India has witnessed substantial LPG demand growth, becoming the fastest-growing region in the Asia-Pacific LPG Cylinder Market. India’s supportive government measures have fueled this growth, evident in the increasing number of active residential LPG users. With the expansion of LPG cylinder factories and rising LPG consumption, India is expected to achieve 99.8% LPG penetration by 2021. Consequently, the market is forecasted to experience significant growth driven by rising LPG demand and government support throughout the projected period.
Key market players in the Asia-Pacific LPG Cylinder Market include:
- Shandong 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.
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“The Asia-Pacific LPG cylinder market is primarily driven by the increasing adoption of liquefied petroleum gas (LPG) as a fuel source, particularly for cooking purposes among the local population. Government initiatives like the Pradhan Mantri Ujjwala Yojna further fuel market growth. Additionally, rising demand for LPG, driven by increased consumption of auto gas and the presence of large semi-urban and rural areas, contributes to market expansion,” stated Mr. Karan Chechi, Research Director at TechSci Research.
The report “Asia-Pacific LPG Cylinder Market by Material Type (Glass Fiber Composites, Metal, Others), Cylinder Type (Metal, Composites), Application (Residential/Consumer-Use, Power & Utilities, Transport/Auto-Fuel), Size (0 to 5 Kg, 6 to 10 Kg, 11 Kg & Above), Country, Competition, Forecast and Opportunities, 2028F” assesses the future growth potential of the Asia-Pacific LPG Cylinder Market. It offers insights into market structure, size, share, and future growth, providing valuable intelligence for decision-makers. Additionally, the report identifies and analyzes emerging trends, as well as essential drivers, challenges, and opportunities in the Asia-Pacific LPG cylinder market.
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