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
DENVER, Jan. 11, 2023 /PRNewswire/ -- Data Bridge Market Research has recently published a Report, titled, "Gas Cylinder Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. To create an international Gas Cylinder market report, a team of multilingual researchers who are skilled at different languages come together with which they professionally execute market research globally. The report explains market analysis based on regional, local as well as global level. By synchronizing with project managers, the team provide the clients inputs on every strategic aspect including product development, key areas of development, application modelling, use of technologies, the acquisition strategies, exploring niche growth opportunities and new markets. To achieve success in the competition of global market place, choosing a trustworthy Gas Cylinder market research report is the key.
By understanding client's requirements precisely and following them firmly, the superior Gas Cylinder market research report has been structured. The report puts on view significant product developments and tracks recent acquisitions, mergers, and research in the Gas Cylinder industry by the key players. Furthermore, this market report also provides a watchful investigation of the current state of the market which covers several market dynamics. An exhaustive analysis of factors influencing the investment is also provided in the persuasive Gas Cylinder report which forecasts impending opportunities for the businesses and develops the strategies to improve return on investment (ROI).
The gas cylinder market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.0% in the forecast period of 2023 to 2030 and is expected to reach USD 4,649,514.48 thousand by 2030.
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Market Overview:
A gas cylinder is a pressure vessel that stores gases at higher than atmospheric pressures. High-pressure gas cylinders, also known as bottles. Depending on the physical qualities of the item, the stored components inside the cylinder may be in a supercritical fluid, compressed gas, Vapour over liquid, or dissolved in a substrate material. The valve and connecting connection are positioned at the top of a normal gas cylinder design, extending and standing upright on a flattened bottom end. The increasing focus of renowned manufacturers on developing unique cylinder designs that are capable of improving safety measures, optimizing handling and storage abilities, and are lightweight is anticipated to drive the market. The increased use of gas cylinders in various applications such as water treatment, soldering, beverage dispensing, medical purposes, heating and cooking, and fire extinguishing is expected to increase demand worldwide.
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 Development
- In 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.Ş.,
- 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, and
- Zhejiang 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 market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
Market Dynamics: Gas Cylinder Market
- Increase 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.
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Key Industry Segmentation: Gas Cylinder Market
Material
- Steel
- Composite
Product
- High pressure
- Low pressure
- Acetylene
Wraps
- Wrap less
- Glass fiber
- Aramid fiber
- Carbon fiber
Gas
- Flammable gases
- Inert gases
- Toxic gases
- Pyrophoric gases
- Oxidizers
Application
- Kitchen and domestic
- Processing industries
- Medical
- Transportation
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:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Gas Cylinder Market: Regulations
- Market Overview
- Global Gas Cylinder Market, By Material
- Global Gas Cylinder Market, By Product
- Global Gas Cylinder Market, By Wraps
- Global Gas Cylinder Market, By Gas
- Global Gas Cylinder Market, By Application
- Global Gas Cylinder Market, By Region
- Global Gas Cylinder Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
To Check the Complete Table of contents, click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-gas-cylinder-market
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