Europe Composite LPG Cylinder Market is to be Dominated by the Type III Segment through 2028
Rising usage of composite LPG
cylinders for various applications is driving the growth of the Europe composite LPG cylinder market in the forecast period.
According to
TechSci Research report, “Europe Composite LPG Cylinder Market - By Country, Competition, Forecast & Opportunities, 2028”, the Europe composite LPG cylinder market is
expected to register robust growth during the forecast period, 2024-2028. As,
variety of end-use industries, including transportation, aerospace & defense,
wind energy, and construction & infrastructure, are increasingly adopting
composite cylinders.
Expanding government initiatives to use
composite cylinders and rising demand for lightweight, explosion-proof, and
non-corrosive LPG cylinders throughout the projection period. Additionally,
during the following five years, it is anticipated that a growing number of
people in the region will prefer LPG to conventional & inefficient sources
when cooking. Additionally, government is promoting the production of composite
LPG cylinders due to their ease of transportation and low production costs,
which is anticipated to support the market's growth in the upcoming years.
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The
Europe composite LPG cylinder market is segmented based on product, size,
application, and country. Based on product, the market can be segmented into
type III and type IV. Based on size, the
market is divided into 0 to 5 Kg, 6 to 10 Kg, and 11 Kg & above. Based on
application, the market is divided into kitchen & domestic use,
transportation, recreational use, and others. Based on country, the market is
segmented into Germany, United Kingdom, France, Italy, Spain, and rest of
Europe.
Based on product, the market for composite LPG cylinders
is divided into type III and type IV segments. In the market for composite LPG
cylinders, type IV cylinders are the most popular. Throughout the forecast
period, it is anticipated to maintain its larger and faster-growing cylinder
type. Type IV tanks are the only ones where all the main composite LPG cylinder
manufacturers are present. Comparing type IV cylinders to type I and type III
cylinders, type IV delivers the greatest weight reduction and the highest burst
pressure.
Fully wrapped composite cylinders, often referred to as type
III composite cylinders, have a metal liner that is entirely covered with a
composite or fiber resin. To maximize durability and performance, layers of
strong impact-resistant fiber are fully wrapped around it. Epoxy resin matrix
is then applied over it in customary patterns, creating an ultra-lightweight. Extremely
strong composite cylinder can withstand higher pressures than typical,
all-aluminum cylinders. High demand for fully wrapped composite cylinders has
been caused by an increase in the use of natural gas and LPG as power sources
in the automotive industry. Additionally, the use of government support
policies and the benefits of using natural gas in the transportation industry
have increased demand for storage cylinders. For applications such as home
oxygen therapy and medical oxygen cylinder in ambulances, where portability and
capacity are crucial, composite cylinders are ideal. The creation of drones and
unmanned aerial vehicles (UAVs), which employ these types of cylinders for fuel
storage, was prompted by the necessity for national border protection and an
increase in border disputes. The market is expanding because of increased use
of these composite cylinders in the military and aerospace industries.
Based on application, the Europe composite LPG cylinders
market is divided into four categories: transportation, recreational use,
kitchen & residential use, and others. Throughout the forecast period,
kitchen and domestic use is anticipated to continue to be the most popular and
rapidly expanding application type for composite LPG cylinders. Type IV
cylinders are replacing type I cylinders in increasing numbers because of their
advantages of being lightweight and having excellent burst pressure.
Additionally, due to its expensive price and limited supply, piped natural gas
is being replaced in homes with composite LPG cylinders.
Based on country, Germany will dominate the market in the
forecast period, due to the high population and consumption of LPG gas.
Major market players in the Europe composite LPG cylinder market are:
- Hexagon
Composites
- Aburi
Composites
- Amtrol-Alfa
- Time
Technoplast Ltd.
- Metal
Mate
- ALAMAN
Gas Cylinders
- Worthington
Industries
- Maurya
Udyog Limited
- Sahamitr
Pressure Container
- Metal
Mate Co., Ltd.
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“Due to the presence of top composite LPG cylinder
producers like Hexagon Composites, Aburi Composites, and Metal Mate who are
concentrating on expanding their geographic footprint by conducting their
global operations from Europe, the composite LPG cylinder market in Europe is
expanding quickly. Additionally, the regional dominance up until 2019 is
primarily due to the early adoption of composite LPG cylinders. Additionally,
the market for composite LPG cylinders in Europe is anticipated to expand
quickly in the upcoming years due to the growing number of applications for
these cylinders." said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Europe Composite LPG Cylinder Market Segmented By Product (Type III, Type IV), By Size (0 to 5 Kg,
6 to 10 Kg, and 11 Kg & Above), By Application (Kitchen & Domestic Use,
Transportation, Recreational Use, and Others), By Country, Competition, Forecast and Opportunities, 2028” has evaluated the future growth
potential of Europe composite LPG cylinder
market and provides statistics & information
on market size, structure, and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities Europe composite LPG cylinder market.
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