Gas Cylinder Market By Material (Steel, Composite), By Wrap Rype (HDPE, Glass Fiber, Aramid Fiber, And Others), By Gas Type (Inert Gases, Flammable Gases, Toxic Gases, And Others), By Application (Kitchen and Domestic, Processing Industries, And Others), By Region And Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, And Forecast 2023-2032

Report Overview

Gas Cylinder Market size is expected to be worth around USD 16.5 Bn by 2032 from USD 7.7 Bn in 2022, growing at a CAGR of 8.1% during the forecast period from 2023 to 2032.

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The Global Gas Cylinder Market report presents an intricate landscape of a thriving industry that has integrated itself seamlessly into the fabric of countless businesses. Gas cylinders, those remarkable pressure vessels, have transcended boundaries, serving a variety of industries spanning from the complex realm of healthcare to the dynamic fields of food and beverage, energy, and automotive.

The manufacturing process, design philosophy, and material utilization of these gas-filled receptacles have undergone a revolutionary change as a result of a constant stream of innovation. This revolution, fueled by an insatiable desire for progress, has produced lighter, more durable, and safer gas cylinders. By incorporating cutting-edge materials such as high-strength steel, composites, aluminum, and carbon fiber, the industry has spawned a new generation of resilient and durable pressure containers. The incorporation of novel materials, the refinement of design paradigms, and the creation of self-monitoring and -tracking intelligent gas cylinders have all emerged as significant advancements within this wave of transformation.

The gas cylinder market is buoyed by substantial investments in key industries such as healthcare, automotive, energy, and the alluring food and beverage sector. Within the domain of healthcare, gas cylinders reign supreme, catering to a vast array of vital applications, such as the delicate art of oxygen therapy, the realm of anesthesia, and the management of pain. The automotive industry, sensing the winds of change, has directed its investments toward embracing gas cylinders as repositories for the mighty hydrogen fuel cells that power electric vehicles, heralding in a new era of environmentally friendly transportation. In the meantime, the energy industry utilizes gas cylinders to store, generate, and transport natural gas, all while attempting to satisfy the insatiable demand for energy.

Yet, as with any success story, the gas cylinder market confronts its share of ethical dilemmas. Principal among these concerns is the presence of high-pressure environments within these containers, which casts a shadow of danger over their handling, transportation, and storage. In addition, consideration is given to the ethical implications of the use of potentially hazardous gases. In response, stakeholders and manufacturers have joined forces in their pursuance of solutions, placing a premium on transparency, explicability, and unwavering accountability to ensure the well-being of all.

The vast and varied applications of the gas cylinder market extend their tentacles across the business landscape, offering a plethora of opportunities across a vast array of industries. Behold the resolute power of gas cylinders, which are harnessed to sustain the machinery and equipment that orchestrate the harmonious symphony of oil refineries, factories, and chemical plants. Moreover, these remarkable vessels are enshrined in the core of hospitals and clinics around the world, where they serve as the life-giving conduits of oxygen therapy, the guardians of pain management, and the gatekeepers of anesthesia, quietly nourishing the essence of human life.

Driving Factors

Increasing Demand From Various Industries

Industries such as healthcare, oil and gas, chemical, automotive, aerospace, and manufacturing utilize gas cylinders extensively. The increasing demand from these industries is a major factor propelling the gas cylinder market. For instance, the healthcare industry requires gas cylinders for medical gases, whereas the oil and gas industry employs cylinders for the storage and transport of gases.

Rising Energy Consumption

As the global population continues to increase, energy demand is rising. Gas cylinders play a crucial role in the storage and distribution of liquefied petroleum gas (LPG) and compressed natural gas (CNG), among other gases used in energy production. Demand for gas cylinders is being driven by expanding energy consumption.

Growing Adoption Of Alternative Fuels

The trend toward greener and more sustainable energy sources is accelerating. This includes the use of alternative fuels for transportation and industrial applications, such as CNG and hydrogen. These alternative fuels are stored and transported in gas cylinders, driving demand for cylinders in this market segment.

Increasing Use Of Medical Gases

The healthcare industry stores and distributes medical gases such as oxygen, nitrogen, and carbon dioxide using gas cylinders. Demand for medical gases and gas cylinders is on the rise due to the increasing global population and the need for advanced healthcare services.

Restraining Factors

Safety Regulations

The gas cylinder market is governed by stringent safety regulations to protect the public and employees. These regulations govern the design, construction, testing, and maintenance of cylinders used for transporting and storing gases. Consequently, businesses in the gas cylinder market must invest in research and development to remain compliant with the ever-changing safety regulations. Although these regulations serve a laudable purpose, they increase the cost of manufacturing and distributing gas cylinders.

Raw Material Prices

The production of gas cylinders requires an abundance of basic materials, including steel, aluminum, and composites. The cost of these materials can have a significant impact on the total price of manufacturing gas cylinders. In addition, the fluctuating prices of basic materials can cause market instability, making it difficult to accurately predict the price of gas cylinders. In turn, these fluctuations impact the gas cylinder market and its suppliers.

Environmental Concerns

The environmental impact of the gas cylinder market is an additional significant factor restraining its expansion and operations. Significant greenhouse gas emissions result from the production of gas cylinders, which contribute to climate change. Therefore, manufacturers are under pressure to adopt greener and more sustainable practices with minimal environmental impact. In addition, the disposal of used gas cylinders is difficult because they are classified as hazardous waste and must be treated as such.

Alternative Technologies

The traditional gas cylinder market faces competition from alternative technologies such as fuel cells and batteries. Fuel cells, for instance, offer an alternative energy source for a variety of applications, thereby eradicating the need for gas cylinders. In order for the gas cylinder market to remain competitive and pertinent in the energy industry, it must adopt new technologies.

Wrap Rype Analysis

The global gas cylinder market has experienced significant growth over the past few years, with the Aramid Fiber segment playing a significant role in this expansion. It is anticipated that the Aramid Fiber segment will continue to dominate the market in the future years. Consumer trends in this sector are characterized by a high degree of volatility, complexity, originality, and human-like behavior.

The adoption of the Aramid Fiber segment is being driven by the economic growth of emerging economies. The economies of nations such as China, India, and Brazil are expanding significantly. As a consequence, the demand for gas cylinders increases in these nations. The Aramid Fiber segment is favored due to its superior strength, lightweight, and capacity to contain compressed gases.

Consumer behavior toward the Aramid Fiber segment is swiftly changing. The advantages of Aramid Fiber gas cylinders over traditional steel cylinders have become more apparent to consumers. Due to its lightweight nature, which makes it convenient and simple to handle for daily use, the Aramid Fiber segment is preferred by consumers.

Due to its high strength, lightweight, and low maintenance costs, the Aramid Fiber segment is anticipated to experience the highest growth rate in the coming years. These factors make this market segment more appealing to businesses and consumers. Enhanced environmental protection regulations by the government have also been a significant factor. Aramid Fiber gas cylinders emit less carbon than traditional steel cylinders, making them an environmentally preferable option.

Gas Type Analysis

The Inert Gases segment has dominated the global gas cylinder market. Due to its efficacy and efficiency, this market segment is anticipated to maintain its dominance in the future years. Emerging economies' economic growth is a major factor in the Inert Gases segment's adoption. As economic prosperity increases, the demand for gas cylinders increases. This segment is well-liked due to its capacity to store and transport gases without interacting with the surrounding environment.

The Inert Gases segment has seen a shift in consumer attitudes. Consumers have become more aware of the segment's numerous benefits. Consumers prefer the Inert Gases segment because of its high efficiency and efficacy in storing and transporting gases.

Due to its high efficiency and efficacy, the Inert Gases segment is anticipated to record the highest growth rate in the coming years. This segment has become more appealing to businesses and consumers due to its efficacy in storing and transporting gases with minimal loss. This segment's use in industries such as healthcare, chemicals, and aerospace has also contributed significantly to its growth.

Application Analysis

The Kitchen and Domestic Segment leads the global gas cylinder market. This segment is anticipated to maintain its dominance in the future years due to its widespread popularity and application diversity. The adoption of the Kitchen and Domestic segment is influenced by the economic growth of emerging economies. There is an increase in demand for LPG (Liquid Petroleum Gas) for household and domestic purposes as the economy grows. The Kitchen and Domestic segment is popular because it provides a pure and secure energy source for cooking.

The behavior of consumers towards the Kitchen and Domestic segment has evolved. Consumers are increasingly aware of the advantages of using LPG for heating. Consumers favor the Kitchen and Domestic segment due to its eco-friendliness, affordability, and security. Due to its extensive application and popularity, the Kitchen and Domestic segment is expected to record the highest growth rate over the next few years. The domestic and kitchen use of LPG has increased steadily, particularly in developing nations. The segment's affordability, accessibility, and environmental sustainability make it an appealing option for consumers. As a result, it is anticipated that the Kitchen and Domestic segment will continue to dominate the global gas cylinder market.

Key Market Segments

By Material

• Steel
• Composite

By Wrap Rype

• HDPE
• Glass Fiber
• Aramid Fiber
• Carbon Fiber
• Wrap less

By Gas Type

• Inert Gases
• Flammable Gases
• Toxic Gases
• Oxidizers
• Pyrophoric Gases

By Application

• Kitchen and Domestic
• Processing Industries
• Medical
• Transportation

Growth Opportunity

Specialty and Medical Gas Demand

The global demand for specialty and medical gases is expanding due to the rising cost of healthcare and the demand for high-quality medical facilities. These gases are essential to the success of numerous medical procedures, including diagnosis, treatment, and surgery. Respiratory care, anesthesia, and emergency medical services also employ medical gases. In addition, specialty gases are utilized in a variety of industrial applications, including welding, cutting, and metal fabrication.

The LPG and Natural Gas Markets

LPG and natural gas are essential energy sources for homes and businesses, with LPG being more adaptable and less polluting than other fossil fuels. Several countries have promoted the use of LPG for cooking, heating, and transportation in recent years. Moreover, natural gas is utilized extensively in energy production, transportation, and industrial processes. Aided by the shale gas revolution in the United States and recent discoveries in the East Mediterranean region, the market for natural gas has been expanding swiftly in all regions.

Lightweight Cylinders

Conventional steel or aluminum gas cylinders are cumbersome and weighty, making them difficult to handle and transport. The gas cylinder industry has been revolutionized by the introduction of lightweight cylinders manufactured from advanced materials such as composites, fiber-reinforced plastics, and high-strength alloys. The advantages of these cylinders include a higher strength-to-weight ratio, resistance to corrosion, durability, and safety. In industrial and medical applications where portability and ease of handling are crucial, lightweight cylinders are extensively employed.

Newly Emerging Economies

Several emerging economies, including China, India, and Brazil, are experiencing accelerated industrialization and urbanization, which is driving demand for gas cylinders. These nations are making substantial investments in infrastructure development, such as roads, railways, airports, and seaports, to facilitate quicker and more cost-effective transportation. In addition, the growing population and middle-class consumers in these economies are driving up demand for domestic gas, vehicle fuel, and industrial applications.

Latest Trends

Composite Cylinders

Due to their high strength-to-weight ratio, composite cylinders comprised of carbon fiber-reinforced materials are gaining popularity in the gas cylinder market. Composite cylinders, unlike traditional steel cylinders, are resistant to corrosion, which reduces maintenance costs and extends product life. In addition, composite cylinders are safer than steel cylinders because they are less likely to explode when subjected to heat. Medical gases, industrial gases, and specialty gases are frequently transported using these cylinders.

Smart Tracking

Intelligent surveillance technology is transforming the gas cylinder market. Many manufacturers of gas cylinders are turning to intelligent tracking systems to enhance safety, reduce loss, and boost productivity. Intelligent tracking systems use RFID or QR codes to trace cylinders from the time they are manufactured until they are delivered. This technology enables users to track the location, status, and distribution of cylinders. Smart monitoring systems provide valuable information on cylinder usage, allowing businesses to optimize inventory and utilization.

Sustainable Materials

The gas cylinder market is becoming increasingly concerned about sustainability. Numerous manufacturers are investigating sustainable materials in an effort to lessen their environmental impact. Composite cylinders, which are comprised of lightweight materials, are more eco-friendly than conventional steel cylinders. In addition, manufacturers are investigating options for reusable cylinders and recycling to reduce waste. These environmentally friendly solutions also help businesses save money on disposal fees.

Safety Features

The gas cylinder market places an emphasis on safety. New safety features are being implemented by manufacturers to reduce the likelihood of accidents and injuries. Some cylinders, for instance, feature pressure relief valves that discharge gas if the pressure exceeds a certain threshold. Others feature pressure gauges that enable users to monitor the pressure in real-time. These safety features enhance the overall safety of the gas cylinder market and aid in the prevention of accidents.

Portable Cylinders

In the gas cylinder market, portable cylinders are gaining popularity due to their increased transportability. These cylinders are portable, lightweight, and adaptable to a variety of environments. In the healthcare industry, portable cylinders are commonly used to convey medical gases to remote locations. In the food and beverage industry, they are used to transport CO2 for carbonation.

Regional Analysis

The region's robust manufacturing sector is responsible for Asia-Pacific's dominance in the gas cylinder market. The region's industrial sector is highly diverse, extending from large-scale manufacturing to small and medium-sized businesses. Diversification of the industrial sector has increased demand for gas cylinders in a variety of industrial applications.

China and India, two of the world's most populous nations, contribute significantly to the Asia-Pacific gas cylinder market. China's industrial production is estimated to account for 30 percent of the global industrial output. The country's robust demand for gas cylinders is largely attributable to the rapid expansion of its manufacturing sector. India, on the other hand, has a large population that has continued to fuel the country's industrial and economic growth, contributing to the demand for gas cylinders in India.

In addition, the expansion of the healthcare industry in the region has contributed to the growth of the gas cylinder market. Respiratory care is a crucial component of the healthcare industry, and many medical facilities in the Asia-Pacific region rely on gas cylinders to provide oxygen to patients. In the future years, the demand for gas cylinders in the Asia-Pacific healthcare sector is projected to increase significantly due to an increase in healthcare facilities and medical usage.

Key Regions and Countries

North America

• US
• Canada
• Mexico

Western Europe

• Germany
• France
• The UK
• Spain
• Italy
• Portugal
• Ireland
• Austria
• Switzerland
• Benelux
• Nordic
• Rest of Western Europe

Eastern Europe

• Russia
• Poland
• The Czech Republic
• Greece
• Rest of Eastern Europe

APAC

• China
• Japan
• South Korea
• India
• Australia & New Zealand
• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Colombia
• Chile
• Argentina
• Costa Rica
• Rest of Latin America

Middle East & Africa

• Algeria
• Egypt
• Israel
• Kuwait
• Nigeria
• Saudi Arabia
• South Africa
• Turkey
• United Arab Emirates
• Rest of MEA

Key Players Analysis

Praxair is a market leader in the gas cylinder market, offering an extensive selection of gas cylinders and accessories for a variety of applications. In order to provide high-quality products to its consumers, the company focuses on continuous innovation and R&D.

Linde is another major actor in the global gas cylinder market, offering solutions for a variety of industries, such as the healthcare, food processing, and chemical processing sectors.

Air Liquide is a French multinational corporation that provides global gas and energy solutions. The company offers an extensive selection of gas cylinders, such as LPG cylinders, medical oxygen cylinders, and industrial gas cylinders.

Luxfer Gas Cylinders is an industry leader in the production of high-pressure gas cylinders and corresponding accessories. The business serves numerous industries, including the medical, inhaling air, fire extinguisher, and alternative fuel sectors.

Worthington Industries is a global industrial corporation headquartered in the United States that specializes in the production and distribution of pressure cylinders and related goods. The company is well-established in North America, Europe, and Asia.

The Norwegian company Hexagon Composites ASA specializes in composite high-pressure gas cylinders and related solutions. To meet the expanding demand for clean energy, the company prioritizes innovative technologies and sustainable solutions.

Top Key Players in Gas Cylinder Market

• Praxair
• Linde
• Air Liquide
• Luxfer Gas Cylinders
• Worthington Industries Inc
• Hexagon Ragasco AS
• 3M
• Aygaz A.S.
• FABER INDUSTRIE SPA
• Dragerwerk AG & Co. KGaA
• Avery Dennison
• Fuji
• SK Cylinder
• Other Key Players

Recent Development

In 2023, Luxfer Gas Cylinders, another significant industry player, also disclosed its expansion plans. In response to the expanding demand for alternative fuel vehicles and compressed natural gas (CNG) solutions, the company has announced its intention to increase its production capacity in the United States.

In 2022, Air Liquide, a multinational provider of industrial gases and services, entered the market with the acquisition of the hydrogen cylinder business of Messer Group. It is anticipated that the move will strengthen Air Liquide's position as a prominent supplier of hydrogen cylinders for industrial and mobile applications and further consolidate the company's presence in Europe.

Report Scope