LPG Cylinder Manufacturing Market Expected To Reach Us$ 4.7 Bn By 2026

-
According to a new market report published by Transparency Market Research titled “LPG Cylinder Manufacturing Market, Material - Steel, Aluminum; Size - 4 Kg-15 Kg, 16 Kg-25 Kg, 25 Kg-50 Kg, More than 50 Kg; End-use - Domestic, Commercial, Industrial - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 - 2026,” the global LPG cylinder manufacturing market is expected to reach US$ 4.7 Bn by 2026, expanding at a CAGR of 3.6% from 2018 to 2026. Asia Pacific held the highest share in the LPG cylinder manufacturing market in 2017.

Demand is expected to accelerate with rising disposable income. Rising awareness about the usage of natural fuel by end-users, and emission of minimal pollution through LPG cylinders has triggered the demand for LPG cylinders across the globe. LPG is a clean-burning fuel that produces lower levels of CO2, NO2, and other pollutants as compared to traditional fuels such as biomass. Furthermore, LPG helps to improve air quality, reduces the emission of greenhouse gases, and protects the environment. Manufacturers are opting for LPG cylinders to avoid the risk associated with environmental issues, and overcome the toxic pollution caused by the manufacturing sector. Furthermore, progressively changing lifestyle in rural areas together with the rising disposable income of consumers is expected to build a lucrative roadmap for LPG cylinder manufacturing industry trends over the forecast period (2018-2026).

lpg cylinder manufacturing market


Asia Pacific held major share in the LPG cylinder manufacturing market in 2017. LPG is the most preferred cooking fuel in kitchens. Rising affordability and usability of LPG by end-users in households across the globe are expected to drive the market in the coming years. Rise in urbanization and government initiatives for usage of LPG cylinders has increased the dependency of LPG in the domestic kitchen due to generation of minimal pollution, which has triggered the demand for LPG from end-users. 

Furthermore, emerging economies granting subsidy for the usage of LPG cylinders in rural and low income households are expected to drive the market in the future.
Convenience in use and environment friendly, rising disposable income, and urbanization are likely to drive the LPG cylinder manufacturing market at a good pace. Key trends supporting the growth of the market includes usage of LPG in the automotive sector and shifting preference of end-users toward usage of LPG cylinders.

Comments

Post a Comment

Popular posts from this blog

Oil and Gas Terminal Automation Market: To Reflect Impressive Growth Rate By 2019 - 2027

-
  Global  Oil and Gas Terminal Automation Market : Overview A sturdy growth rate, compounded annually, will be recorded in the global oil and gas terminal market, states Transparency market Research (TMR), for the period of 2019 to 2027. It will be driven forward on to a high growth trajectory at the back of a number of growth factors. Some of these are low oil prices and growing demand for natural gas across a number of varied industry verticals. Demand for oil and gas will also be pushed up by growing population for its energy and fuel needs. This in turn will require more exploration, extraction, better storage and robust distribution. And, this again would lead to demand for oil and gas terminal automation. Therefore, the market will be rife with new opportunities of growth in this period. And, as per TMR, the players would do their best to make the most of these. Global Oil and Gas Terminal Automation Market: Competitive Landscape Global oil and gas terminal automation market is a
Read more

Military Land Vehicle Electronics Market: Latest Trends and Forecast Analysis up to 2019 - 2027

-
Global Military Land Vehicle Electronics Market – Introduction Military land vehicle electronics are used in military land vehicles to enable navigation, communication, and observation in the exchange of intra-vehicular or inter-vehicular information. They are used in the military to increase warfare capabilities in surveillance, intelligence, and reconnaissance missions. This is expected to enhance the demand for military land vehicle electronics across the world.  The growing trend of an open reference architecture system is augmented by an increasing need for military land vehicle electronics, which is turn is expected to fuel the market. Besides, armored fighting vehicles (AFVs) are equipped with networked information technology, so as to provide them with combat capabilities and optimal situational awareness. This in turn is expected to boost the military land vehicle electronics market over the forecast period. Key Drivers of the Military Land Vehicle Electronics Market
Read more

Impact Sensing Door Unlock System Market will Generate New Growth Opportunities By 2019 - 2027

-
  Impact Sensing Door Unlock System : Introduction The impact sensing door unlock system unlocks the door automatically without a key, it can be operated through a mobile application. The impact sensing door unlock system consists of sensors and an electronic control unit, wherein the sensors receive a signal from the wireless system and transmits that signal to the electronic control unit. The electronic control unit is wired to the central lock, which in turn unlocks or locks all the doors of the vehicle. Key Drivers of Impact Sensing Door Unlock System Market Rise in demand for safety and security features in a vehicle is estimated to boost the impact sensing door unlock system market. Every vehicle manufacturer is trying to boost the integration of advanced safety features, including center locking system with impact sensing door unlock system that is activated through a mobile application. This in turn is projected to fuel the demand for the impact sensing door unlock system. Incr
Read more