Gas Cylinder Market to Grasp Outstanding Growth USD of 4,649,514.48 Thousand by 2030, Size, Share, Trends, Opportunities, Key Drivers and Growth Prospectus
An increase in demand for medical oxygen cylinders is an important driver for the gas cylinder industry. The rise in the consumption of L.P.G. cylinders for various applications is gaining prominence. An increase in the number of government activities aimed at increasing consumer awareness and demand for gas cylinders in various sectors are expected to propel the growth of the global gas cylinder market.
Opportunities for Players:Rise in cylinder innovation and technological advancements
Gas cylinder manufacturers are constantly improving their cylinder packages to satisfy changing market demands. Higher pressures, digital displays, and newly engineered guards and valves allow for more gas, cylinder intelligence, and simpler transportation without compromising safety. The transportation of high-value gases is crucial, increasing the demand for secure, controlled gas cylinders. Advances in the compression of volatile and nonreactive gases have affected the production of gas cylinders. Enhanced safety and innovative cylinder designs have improved the handling and storage capabilities of gas cylinders. As a result of this rise in cylinder innovation and technological advancements are expected to provide a market growth opportunity for the gas cylinder market. As a result of this rise in cylinder innovation and technological advancements are expected to provide a market growth opportunity for the gas cylinder market.
Recent DevelopmentIn September 2022, Worthington Industries' new plant serving the hydrogen mobility market was completed in under two years. The new plant will produce Type III and IV composite pressure cylinders. The cylinders are lightweight and made of metallic or polymeric liners with carbon fiber reinforcement that can withstand high pressures. Applications include onboard fueling systems for cars, trucks, buses, trains, and ships, as well as storage and transport containers for compressed hydrogen and compressed natural gas (CNG)In March 2021, Luxfer Gas Cylinders announced the acquisition of Structural Composites Industries, a North American composite cylinder manufacturer. The acquisition strengthens Luxfer's composite cylinder offering and aligns with recent investments to further enhance their alternative fuels capability to address the CNG and Hydrogen market growth opportunities, as well as broadening our portfolio in aerospace, life support and other markets
Some of the major players operating in the Gas Cylinder market are:3M,Aygaz A.?.,FABER INDUSTRIE SPA,Hexagon Ragasco AS,Luxfer Gas Cylinders,Worthington Industries Inc,Beijing Tianhai Industry Co., Ltd.,Drägerwerk AG & Co. KGaA,EKC,Linde plc,Time Technoplast Ltd.,MS GROUP,Welz Gas Cylinder GmbH, andZhejiang Tianlong cylinder
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Critical Insights Related to the Gas Cylinder Included in the Report:Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this marketValue chain analysis of prominent players in the marketCurrent trends influencing the dynamics of this market across various geographiesRecent mergers, acquisitions, collaborations, and partnershipsRevenue growth of this industry over the forecast periodMarketing strategy study and growth trendsGrowth driven factor analysisEmerging recess segments and region-wise marketAn empirical evaluation of the curve of this marketAncient, Present, and Probable scope of the market from both prospect value and volume
Market Dynamics: Gas Cylinder MarketIncrease in the demand of medical oxygen cylinder
Medical care providers frequently use oxygen gas cylinders for therapeutic and diagnostic reasons. Medical oxygen gas systems, such as oxygen, concentrators, and compressed oxygen gas cylinders, are widely used in homecare settings and are typically selected by elderly patients with mobility issues and require a consistent oxygen supply.
The global increase in industrialization has had a negative impact on the overall quality of breathing air. Because of fast growth and increased pollution, the air quality index (AQI) has been elevated, increasing the prevalence of respiratory disorders. Patients suffering from chronic respiratory diseases (CRDs) such as Chronic Obstructive Pulmonary Disease (COPD) require oxygen supplementation to improve their quality of life. Pollution, cigarette smoke, occupational chemicals and dust, and other factors can contribute to Chronic Rrespiratory Diseases (CRDs). In recent years, there has been an increase in the senior population with chronic conditions requiring ongoing respiratory assistance.Rise in the consumption of LPG cylinders for various application
Liquefied petroleum gas (LPG) is a fuel that burns cleanly, is sustainable, and is efficient. Because it is a sustainable, low-carbon, efficient, and innovative energy source. It provides advantages to customers. Industry and the environment LPG is less expensive than other traditional fuels since most of its energy is turned into heat, and it can be transported, stored, and utilized in a wide range of applications, including residential, commercial, agriculture, industrial, and auto gas.
LPG is a gas, but it is frequently kept under pressure, which converts it to a liquid. One of the major advantages of LPG over other energy sources is its ease of transportation. It has a better heating value and contains no Sulphur. Because LPG burns regularly, it is more dependable than other kinds of energy. LPG is more ecologically friendly than other energy sources. Though all energy sources emit carbon dioxide, when compared to oil, LPG emits just 81% of the carbon dioxide that oil produces. When compared to coal, another energy source, LPG emits just 70% of the carbon dioxide.
Consider Data Bridge Market Research for this Report which would Help Impact Your Revenues PositivelyThis study offers the latest product news, trends, and updates from the industry's leading players who have leveraged their market position.It also offers strategic plans and standards to arrive at informed business decisions adopted by the main players, thereby advocating your go to market strategies.In addition, it offers insights into the dynamics of customer behaviour that can help the organization better curate market strategiesUsage of exclusive tailor-made tools along with primary research, secondary research and our in-house data model helps us in extracting the exact market numbersMapping the customer in 3P grid comprising of Purpose, Planning and Positioning, thereby delivering a solution by keeping the prospecting client at the sweet spotThe market research report includes all of the market's valuable elements, such as sales growth, product pricing & analysis, growth opportunities, and recommendations for addressing market challengesThe report covers all the primary mergers & acquisitions, alliances, and collaborations that have generated additional opportunities for market players or in some cases, challenges
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Key Industry Segmentation: Gas Cylinder Market
ProductHigh pressureLow pressureAcetylene
WrapsWrap lessGlass fiberAramid fiberCarbon fiber
GasFlammable gasesInert gasesToxic gasesPyrophoric gasesOxidizers
ApplicationKitchen and domesticProcessing industriesMedicalTransportation
Regional Analysis/Insights: Gas Cylinder Market
The major countries covered in the gas cylinder market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia & New Zealand, Thailand, Indonesia, Hong Kong, Philippines, Taiwan, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
In Asia-Pacific, the China is expected to dominate the market due to an increase in demand for medical oxygen cylinders in the region. The U.S. is expected to dominate the North American gas cylinder market due to the increase in the number of government activities aimed at increasing consumer awareness.
Table of Contents:IntroductionMarket SegmentationExecutive SummaryPremium InsightsGlobal Gas Cylinder Market: RegulationsMarket OverviewGlobal Gas Cylinder Market, By MaterialGlobal Gas Cylinder Market, By ProductGlobal Gas Cylinder Market, By WrapsGlobal Gas Cylinder Market, By GasGlobal Gas Cylinder Market, By ApplicationGlobal Gas Cylinder Market, By RegionGlobal Gas Cylinder Market: Company LandscapeSWOT AnalysesCompany ProfileQuestionnairesRelated Reports
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