The Composite LPG Cylinders Market to experience an impressive growth of 9.7% CAGR during 2017-2022

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Composite LPG Cylinders Market, answers all the important questions.
 
Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Composite LPG Cylinders Market.
 
The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2017-2022.
 
The important questions the report answers are:

1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

 
These questions and many more, big and small, are all discussed in the report in great detail.
 
 
The strategic Market dissection
 
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.
 
Dissection by

1. Cylinder Type (Type III Cylinder, Type IV Cylinder)
2. Size Type (0-5 kg, 6-10 kg, 11 kg & above)
3. Application Type (Kitchen and Domestic Use, Transportation, Recreational Use, Others)
4. Region (North America, Europe, Asia-Pacific and Rest of the World)

 
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The Growth Prognosis & its Drivers
 
The global composite LPG cylinders market is expected to grow at an impressive CAGR of 9.7% over the next five years to reach US$ 189.7 million in 2022. 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 the developing economies further elevate the demand for composite LPG cylinders over the next five years. 
 
The Key players
 
The top players are Hexagon Composites ASA, Aburi Composites, Amtrol-Alfa, Time Technoplast Ltd., and Metal Mate Co., Ltd., and AL Aman Gas Cylinders Manufacturing LLC.
 
Emerging Trends: The global composite LPG cylinders market is segmented based on cylinder type as type III and type IV. 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. All the major composite LPG cylinder manufacturers have a presence in type IV tanks only. Type IV cylinder offers the maximum weight reduction and higher burst pressure as compared to type I and type III cylinders.
 
Based on the application type, the global composite LPG cylinders market is segmented as kitchen & domestic use, transportation, recreational use, and others. 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. Additionally, piped natural gas in households is being replaced with composite LPG cylinders, owing to its limited reserves and high cost.
 
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