North America Composite LPG Cylinders Market was valued at USD 0.5 Billion in 2022 and is projected to reach USD 0.9 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The demand for composite LPG (Liquefied Petroleum Gas) cylinders has grown significantly in North America due to their enhanced safety, durability, and lightweight properties. These advanced cylinders have proven to be ideal for various industrial applications, including residential, commercial, and automotive sectors. The shift towards composite LPG cylinders from traditional steel cylinders is mainly driven by industries' need for more efficient, cost-effective, and environmentally friendly solutions. These cylinders, made from materials such as fiberglass, carbon fiber, and plastic composites, offer numerous advantages over conventional options.
In industries like agriculture, hospitality, and transportation, composite LPG cylinders are now the preferred choice. The automotive industry, for example, has embraced composite LPG cylinders for use in vehicles, replacing steel cylinders due to their reduced weight and higher pressure tolerance. This lighter weight improves fuel efficiency and reduces the vehicle's overall weight, enhancing both performance and sustainability. In the residential and commercial sectors, composite cylinders are being used for cooking, heating, and other energy needs, providing a safer and more convenient alternative to traditional cylinders.
Furthermore, the growing emphasis on sustainability has led to a rise in eco-conscious consumers and industries looking for greener alternatives. Composite LPG cylinders are more resistant to corrosion and require less maintenance compared to their metal counterparts, making them ideal for use in harsh environments. Their longer lifespan contributes to reducing waste, aligning with the broader trend toward sustainability in various industries.
As the demand for composite LPG cylinders continues to grow, the North American market is expected to expand rapidly in the coming years. Innovations in materials and manufacturing techniques are driving cost reductions and enhancing the cylinders’ efficiency and safety features. The future of the North America Composite LPG Cylinders Market looks promising as industries increasingly recognize the benefits of these advanced solutions.
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Hexagon Ragasco
Aburi Composites
Time Tech
Santek
Rubis Caribbean
Supreme
Composite Scandinavia
Gavenplast
RAD SANE HIDAJ
Sundarban Industrial Complex
Kolos
Metal Mate
EVAS
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the North America Composite LPG Cylinders Market
Kitchen and Domestic Use
Industries
Institutions & Commercial
Based on Types the Market is categorized into Below types that held the largest Composite LPG Cylinders market share In 2023.
metal tank winding
composite material tank winding
North America (United States, North America and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the North America Composite LPG Cylinders Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. North America Composite LPG Cylinders Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. North America Composite LPG Cylinders Market, By Type
6. North America Composite LPG Cylinders Market, By Application
7. North America Composite LPG Cylinders Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. North America Composite LPG Cylinders Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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