Europe Composite LPG Cylinders Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 2.0 Billion by 2030, growing at a CAGR of 8.5% from 2024 to 2030.
The Europe Composite LPG Cylinders market is seeing rapid growth due to the increasing demand for safe, durable, and lightweight solutions for the storage and transportation of liquefied petroleum gas (LPG). Industries across Europe, from domestic to commercial sectors, require robust cylinders that can withstand high pressures and harsh environmental conditions. Composite LPG cylinders, made from advanced composite materials such as fiberglass, are replacing traditional steel cylinders in various applications due to their numerous advantages. These cylinders are known for their lightweight nature, making them easier to handle, transport, and store compared to traditional metal alternatives. As a result, their demand has surged in the region, aligning with the industry's focus on improving safety and reducing carbon footprints.
The demand for composite LPG cylinders is primarily driven by their application across several industries, including the automotive, residential, industrial, and energy sectors. In the automotive industry, these cylinders are used in liquefied petroleum gas (LPG) fuel systems for vehicles. The demand is further supported by the increasing popularity of alternative fuel vehicles that contribute to a reduction in environmental pollution. The residential sector also contributes significantly to the growth of the composite LPG cylinder market. These cylinders are commonly used for cooking and heating purposes in households, providing an efficient and reliable source of energy for millions of people across Europe.
In addition to the automotive and residential sectors, industries that rely heavily on LPG for industrial processes are also significant drivers. The manufacturing industry, for instance, uses LPG for heating, cooking, and other operations. Composite LPG cylinders' higher durability and longer lifespan make them more suitable for such industries, providing cost-effective solutions over time.
Composite LPG cylinders are also meeting increasing regulatory demands regarding safety and sustainability. Governments in Europe have set higher standards for gas storage solutions, driving the need for safer, more reliable, and eco-friendly options. Composite cylinders, with their advanced materials and manufacturing processes, align with these regulatory frameworks and are positioned as the future of gas storage in Europe.
These cylinders are lighter, reducing transportation costs, and are designed to endure external factors like extreme temperatures. Their higher resistance to corrosion compared to steel cylinders further enhances their appeal in industries operating in coastal areas or humid environments. Thus, the market for composite LPG cylinders continues to expand rapidly, fueled by the increasing demand for lightweight, safe, and durable solutions across various industries.
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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 Europe Composite LPG Cylinders Market
Glass Fiber Reinforced Plastic (GFRP)
Carbon Fiber Reinforced Plastic (CFRP)
Polyethylene (PE)
Polypropylene (PP)
Residential
Commercial
Industrial
Aerospace
Automotive
Top Filling
Bottom Filling
Refillable Cylinders
Disposable Cylinders
Small Cylinders (less than 5 kg)
Medium Cylinders (5-15 kg)
Large Cylinders (more than 15 kg)
Online
Offline
Direct Sales
Retail Outlets
US (United States, US 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 Europe 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. Europe Composite LPG Cylinders Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Composite LPG Cylinders Market, By Type
6. Europe Composite LPG Cylinders Market, By Application
7. Europe Composite LPG Cylinders Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Composite LPG Cylinders Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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