Global Gas Cylinder Market Is Predicted To Surge Ahead At A CAGR Of 8% Through 2031

Posted on 2023-06-29 by Fact.MR in Industrial // 0 Comments

The gas cylinder market refers to the industry involved in the production, distribution, and utilization of gas cylinders for the storage and transportation of various gases. Gas cylinders are pressurized containers designed to hold gases such as oxygen, nitrogen, helium, acetylene, carbon dioxide, and many others. Gas cylinders play a crucial role in a wide range of industries, including medical and healthcare, industrial manufacturing, food and beverage, automotive, construction, and energy. They are used for applications such as welding and cutting, medical gas therapy, industrial processes, beverage carbonation, firefighting, and many others.

Several factors contribute to the growth of the gas cylinder market. Firstly, the increasing demand for industrial gases drives the need for gas cylinders. Industrial gases are essential for various manufacturing processes, including metal fabrication, chemical production, electronics manufacturing, and pharmaceuticals. Gas cylinders provide a safe and reliable means of storing and transporting these gases to end-users. Secondly, the growing healthcare industry fuels the demand for medical gas cylinders. Medical gases such as oxygen, nitrous oxide, and compressed air are critical for patient care, anesthesia, respiratory therapies, and other medical procedures. Gas cylinders specifically designed and certified for medical use ensure the delivery of these gases with the highest level of safety and purity.

Moreover, the construction and infrastructure development activities contribute to the demand for gas cylinders. In construction projects, gas cylinders are used for welding, cutting, and heating applications. The growth in infrastructure projects, particularly in emerging economies, creates opportunities for gas cylinder manufacturers.

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Key findings of the Gas Cylinder market study:

The report provides a present market outlook on Gas Cylinder. Additionally, the Gas Cylinder market share is anticipated to grow with a CAGR of 8% in the forecast period.
Regional breakdown of the Gas Cylinder market based on predefined taxonomy.
Innovative manufacturing processes implemented by Gas Cylinder vendors in detail.
Region-wise and country-wise fragmentation of the Gas Cylinder market to grasp the revenue, and growth outlook in these areas.
Changing preferences among consumers across various regions and countries.
Factors (Positive and Negative) impacting the growth of the global Gas Cylinder market.
Gas Cylinder price, market share, and Trends forecast for assessment period 2021-2031

Why is Demand for Gas Cylinders Gaining Traction in the Market?

Demand for gas cylinders is anticipated to increase due to the availability of improved cylinder safety solutions that guarantee zero leakage and help organise work spaces whenever cylinders with compressed gas or other hazardous gas are used. Along with cylinder labelling, it is now crucial to install regulator safety mounting brackets in residential and commercial settings before using gas cylinders to make them safer to handle. The proper labelling of cylinders aids in rapidly determining the gas cylinder’s contents and the degree of prudence that must be used.

The locking cap, which assures maximum safety and lowers the likelihood of abuse and vandalism by restricting unauthorised access to the main cylinder control valve and regulator, is another useful safety mechanism. Players in the industry are concentrating on employing the most safe working approaches for customers because safety is still the top concern. Retail costs for gases like LPG, CNG, inert gases, and pyrophoric gases are mostly influenced by variables that are typically out of any one country’s control. The influence of nations with large natural gas reserves over these issues is greater. Price swings are a typical occurrence for key commodities like gas, oil, and petroleum.

Competitive landscape analysis

The global market for gas cylinders is anticipated to see an increase in demand as people switch to natural gas automobiles to reduce their carbon footprints caused by the combustion of fossil fuels. There has been a growth in demand for petrol cylinders across a number of different industries, including transportation and life support.

Manufacturers are putting a lot of emphasis on safety measures. The market expansion of petrol cylinder dealers is anticipated to be driven by technological advances such as new cylinder designs that optimise storage capabilities and simplify handling due to extra safety features and being light weight.

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