Gas cylinders have sought applications across various industrial sectors, ranging from automotive compressed natural gas (CNG) to imperative processes of medical, beverage, and fabrication. Future of the global gas cylinders market seems positive with the development opportunities in the gas carriers & storage, recreation industries, life support, and transportation. Growing demand for gas cylinders with greater capacity, proliferation in natural gas vehicles, and high requirement for lightweight cylinders are key factors propelling the market for gas cylinders worldwide.
Future Market Insights (FMI) has recently developed and published an exhaustive research report, titled “Gas Cylinders Market: Global Industry Analysis (2012-2016) & Opportunity Assessment (2017-2026)”. The report tracks expansion of the global gas cylinders market, imparting dynamics and forecasts on the market for the period between 2017 and 2026. Key players in the market can avail this exclusive report to assess the inferred forecast for better understanding the market’s current conditions, and developing informed strategies for future expansion of their businesses. Revenues from the market players over the historical period have been benchmarked for developing baselines to forecast the market size for the forecast period. Infusing quantitative intelligence with qualitative insights, the report delivers an accurate forecast on growth of the global gas cylinders market.
With soaring oil & petrochemical prices, the transportation and storage of valuable gases is translating into lucrative profit margins and high value growth for companies. The adoption of gas cylinders continues to gain traction in such critical operations. Future Market Insights foresees a robust growth for the global gas cylinders market in the years ahead. According to its recent forecast study, the global gas cylinders market is estimated to grow at a vigorous 8% CAGR in terms of value over the period, 2017-2026. Advanced safety features and effective storage capabilities of gas cylinders will play a key role in driving their sales during this assessment period. The report has further projected that gas cylinders sold across the globe by the end of 2026 will bring in revenues worth over US$ 11 Bn.
Report Synopsis
The report has been composed for catering concerns of every gas cylinder manufacturing industry across the global landscape. Key areas addressed in the report include the market dynamics, opportunities, drivers and restraints, which are likely to have a significant impact on the market expansion in the foreseeable future. An exhaustive analysis has been offered on these factors to provide better understanding on the ways that gas cylinders is produced and distributed among end-users, along with a presumptive study on the likely future transformations in the gas cylinders market globally.
Cost structure, pricing analysis, and supply chain of gas cylinders have been elucidated comprehensively in the report, along with intelligence on regulatory standpoint of gas cylinders for identifying remunerative avenues and restrained aspects in the market landscape. An executive summary, which initiates the report, offers a concise yet insightful analysis on key market segments coupled with relevant market numbers. The overview chapter, trailing the executive summary, offers a complete scenario of the global gas cylinders market, including a succinct market introduction and a formal definition of “gas cylinders”.
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The report observes that sales of wrap less gas cylinders will bring in the largest share of revenues in the global market throughout the forecast period. By the end of 2026, wrap less gas cylinders worth over US$ 5.2 Bn are pegged to be sold globally. However, the report foresees a rapid growth in demand for gas cylinders equipped with carbon fibre and aramid fibre wraps. Thermal stability of aramid fibres will drive their application in the wrapping of gas cylinder openings. Similarly, excellent strength-to-weight ratio of carbon fibres will extend their use as gas cylinder wrapping materials. Over the forecast period, carbon fibre-wrapped gas cylinders will register fastest revenue growth at 9.3% CAGR, while sales of aramid fibre-wrapped gas cylinders will bring in more than US$ 1.6 Bn by 2026-end.
The type of gas being stored and the size of the cylinder will also play a key role in influencing the sales of gas cylinders. In 2018 and beyond, the demand for gas cylinders with 6kgs and 14kgs sizes will soar at a considerable rate, the revenues from which will account for nearly one-third of global gas cylinders market value. The report further reveals that majority of gas cylinders manufactured in the world will be used to store flammable gasses. In 2017, nearly US$ 1.3 Bn worth of gas cylinders sold globally were used for storing flammable gases.
Competition Landscape
FMI’s report on the global gas cylinders market conveys an outlook on the engaged scenario of the market, featuring rivalry prevalent among key companies and elucidating future circumstances of the market in its concluding chapter. This chapter of the report profiles key market players and offers intelligence on them in terms of product overview, company overview, key financials, key developments and SWOT analysis. Companies mentioned in the report have been minutely examined, covering novel strategies employed, product innovations being undertaken, and impending or likely mergers & acquisition activities between the market players. This chapter is crucial for the report readers as it imparts an in-depth analysis on the competitive scenario of the global gas cylinders market, which can be leveraged by the market players for planning their future business direction.
Research Methodology
Credibility of the researched statistics and data is backed by the unique research methodology employed by the analysts at FMI, which ensures higher accuracy. FMI’s research report on the global gas cylinders market can assist its readers in gaining detailed insights on many different aspects governing the market around key regional segments included in the report. The report readers can further slate key strategies for tapping into vital revenue pockets and gaining benefits over the intensifying competition in the market. Information presented in the report has been scrutinized and monitored thoroughly by FMI’s industry experts. Figures and numbers offered in the report have also been validated by the analysts in order to facilitate strategic decision making for the report readers.
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