Composite LPG Cylinders Market forecasted to grow at 9.7% CAGR in 2022
This 200+ pages market report, from Stratview Research, studies the composite LPG cylinders market over the period 2011 to 2022.
(EMAILWIRE.COM, February 15, 2019 )
Stratview Research announces the launch of a new research report on Global Composite LPG Cylinders Market by Cylinder Type (Type III and Type IV), by Cylinder Size Type (0-5kg, 6-10kg, and 11kg & Above), by Application Type (Kitchen & Domestic Use, Transportation, Recreational Use, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017–2022.
The Global Composite LPG Cylinders Market: Highlights
As per Stratview Research, the global composite LPG cylinders market offers an impressive CAGR of 9.7% during the forecast period of 2017 to 2022 and reach US$ 189.7 million in 2022, which offers an opportunity to the composites industry players to align themselves with the market growth.
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There are several factors bolstering the growth of composite LPG cylinders in the global consumer goods industry. The author of the report cited that increasing demand for lightweight, explosion proof and non-corrosive LPG cylinders and government push towards the usage of composite cylinders are some of the major drivers of the market. Increase in the consumption of LPG in developing economies would further elevate the demand for composite LPG cylinders over the next five years.
As per the research findings, type IV is the most widely preferred cylinder type in the composite LPG cylinders market. It is expected to remain larger and faster-growing cylinder type during the forecast period as it offers the maximum weight reduction and higher burst pressure as compared to type I and type III cylinders. The most popular size of composite LPG cylinders is 10kg, which is used in cooking application for domestic and commercial applications.
In terms of application, kitchen & domestic use is expected to remain the largest and fastest-growing application type in the global composite LPG cylinders market during the forecast period. There is an increasing replacement of type I cylinders with type IV cylinders, owing to their advantages of lightweight and an excellent burst pressure.
In terms of region, Europe is expected to remain the largest market for composite LPG over the next five years, driven by demand from recreational use. However, Asia-Pacific is likely to experience the highest growth during the same period.
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
Stratview Research announces the launch of a new research report on Global Composite LPG Cylinders Market by Cylinder Type (Type III and Type IV), by Cylinder Size Type (0-5kg, 6-10kg, and 11kg & Above), by Application Type (Kitchen & Domestic Use, Transportation, Recreational Use, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017–2022.
The Global Composite LPG Cylinders Market: Highlights
As per Stratview Research, the global composite LPG cylinders market offers an impressive CAGR of 9.7% during the forecast period of 2017 to 2022 and reach US$ 189.7 million in 2022, which offers an opportunity to the composites industry players to align themselves with the market growth.
Click here for table of contents:- https://stratviewresearch.com/toc/276/composite-LPG-cylinders-market.html
Or
Request a sample here:- https://stratviewresearch.com/Request-Sample/276/composite-LPG-cylinders-market.html
There are several factors bolstering the growth of composite LPG cylinders in the global consumer goods industry. The author of the report cited that increasing demand for lightweight, explosion proof and non-corrosive LPG cylinders and government push towards the usage of composite cylinders are some of the major drivers of the market. Increase in the consumption of LPG in developing economies would further elevate the demand for composite LPG cylinders over the next five years.
As per the research findings, type IV is the most widely preferred cylinder type in the composite LPG cylinders market. It is expected to remain larger and faster-growing cylinder type during the forecast period as it offers the maximum weight reduction and higher burst pressure as compared to type I and type III cylinders. The most popular size of composite LPG cylinders is 10kg, which is used in cooking application for domestic and commercial applications.
In terms of application, kitchen & domestic use is expected to remain the largest and fastest-growing application type in the global composite LPG cylinders market during the forecast period. There is an increasing replacement of type I cylinders with type IV cylinders, owing to their advantages of lightweight and an excellent burst pressure.
In terms of region, Europe is expected to remain the largest market for composite LPG over the next five years, driven by demand from recreational use. However, Asia-Pacific is likely to experience the highest growth during the same period.
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
Contact Information:
Stratview Research
Ritesh Gandecha
Tel: +1-313-307-4176
Email us
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Stratview Research
Ritesh Gandecha
Tel: +1-313-307-4176
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results