The global high pressure gas cylinder market was valued at USD 7.76 billion in 2024 and is projected to reach USD 13.12 billion by 2034, growing at a CAGR of 5.40% (2025–2034). The rising adoption of cylinders in healthcare, industrial gas storage, and infrastructure development is fueling market growth.
2024 Market Value: USD 7.76 Billion
2034 Forecast Value: USD 13.12 Billion
CAGR (2025–2034): 5.40%
Leading Region: Asia-Pacific
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High pressure gas cylinders are specialized vessels designed to safely store gases at pressures above atmospheric levels. These cylinders are used in healthcare, manufacturing, construction, energy, and firefighting.
Key materials include:
Steel (dominant, durable, cost-effective)
Aluminum (lightweight, corrosion-resistant)
Composites (advanced, lightweight, and high-capacity, gaining traction in hydrogen storage)
With the global shift toward clean energy solutions, demand for hydrogen-compatible cylinders is rapidly rising, reshaping market dynamics.
Use in oxygen therapy, surgeries, ventilator support, and ambulances.
Rising demand for portable oxygen cylinders in emergency & remote healthcare.
New hospitals & healthcare facilities globally boosting cylinder demand.
Essential for metal cutting, welding, and fabrication in construction.
Used in gas leakage detection and concrete testing.
Global investments in transport, residential, and industrial projects supporting adoption.
Safety Risks: Risk of explosions, leaks, or toxic exposure due to improper handling.
Storage Challenges: Need for strict adherence to international safety standards.
Increasing use of hydrogen-powered vehicles creating need for advanced cylinders.
Type-4 composite cylinders (carbon fiber + polymer liner) enabling lightweight, safe hydrogen storage.
Recent Example:
Quantum Fuel Systems LLC (May 2025): Launched a 930-bar Type-4 hydrogen cylinder for hydrogen trailers.
Confidence Petroleum India (Feb 2024): Entered hydrogen cylinder manufacturing to support green energy demand.
High Investment Costs: Next-gen composite cylinders are expensive to produce.
Regulatory Pressure: Strict global safety and manufacturing standards increase compliance burden.
Raw Material Supply: Political and economic instability impacting steel & composites supply chain.
Holds ~45% of market share (2024).
Driven by China & India’s industrialization and large infrastructure projects.
Strong demand from healthcare and energy sectors.
Holds ~30% of market share.
Demand supported by oil & gas, healthcare, and hydrogen energy projects.
Strict safety regulations encouraging adoption of advanced cylinders.
Focus on clean energy adoption & industrial modernization.
Investments in hydrogen storage solutions boosting growth.
Leading players are focusing on innovation, lightweight materials, and hydrogen storage solutions.
Key Companies:
Everest Kanto Cylinder Ltd.
Luxfer Gas Cylinders
Faber Industrie S.p.A.
Beijing Tianhai Industry Co. Ltd.
Sinoma Science & Technology Co. Ltd.
Hexagon Composites ASA
Worthington Industries
Drägerwerk AG & Co. KGaA
By Material
Steel (largest share, ~59% in 2024)
Aluminum
Composites (fastest-growing)
By End-User Industry
Industrial Gas Storage (dominant, ~51% share in 2024)
Healthcare
Manufacturing
Construction
Others
By Region
North America (US, Canada)
Europe (Germany, UK, France, Italy, Spain, Rest of EU)
Asia Pacific (China, India, Japan, South Korea, Southeast Asia)
Latin America (Brazil, Mexico
Middle East & Africa (GCC, South Africa, Rest of MEA)
The high pressure gas cylinder market is poised for strong growth, driven by healthcare needs, industrial expansion, and clean energy initiatives. While safety risks and cost barriers remain challenges, opportunities in hydrogen storage and infrastructure development will define the future trajectory of this market.
📢 In short: The industry is evolving from traditional steel cylinders toward next-gen hydrogen-ready composite cylinders, unlocking new growth potential.