Gas Cylinders Market Highlights

• Global gas cylinders market revenue is poised to garner USD 12.1 billion by 2032 with a CAGR of 5.6% from 2024 to 2032
• Asia-Pacific gas cylinders market value occupied around USD 2.5 billion in 2023
• Europe gas cylinders market growth will record a CAGR of more than 6% from 2024 to 2032
• Among gas type, the innert gases sub-segment generated 30% of the market share in 2023
• Based on wrap type, the wrap less sub-segment generated notable market share in 2023
• Increasing adoption of composite materials for lighter and safer gas cylinders is the gas cylinders market trend that fuels the industry demand

Gas cylinders are under pressure containers designed to store gases at high pressures. They are commonly made of materials like steel, aluminum, or composite materials, ensuring durability and safety. These cylinders find widespread applications across various industries, including healthcare, manufacturing, welding, and transportation. In healthcare, they store medical gases like oxygen, nitrogen, and carbon dioxide for therapeutic purposes. Industrial processes rely on gas cylinders for tasks such as cutting, brazing, and welding. Additionally, they are crucial in laboratories for research and experimentation purposes. The portability and versatility of gas cylinders make them indispensable for powering tools and equipment in remote locations and emergency situations, ensuring a continuous and reliable supply of gases for various applications.

Global Gas Cylinders Market Dynamics

Market Drivers

• Increasing demand for clean energy solutions drives the adoption of gas cylinders in various applications
• Growing industrialization and urbanization fuel the demand for gas cylinders in manufacturing and construction sectors
• Stringent safety regulations and standards boost the requirement for secure gas storage solutions

Market Restraints

• Fluctuating raw material prices pose challenges to gas cylinder manufacturers in maintaining profitability
• Limited infrastructure for gas distribution and storage inhibits market growth, especially in developing regions
• Concerns regarding carbon emissions and environmental sustainability may hinder the expansion of the gas cylinder market

Market Opportunities

• Technological advancements in lightweight materials and composite manufacturing
• Expansion of the healthcare industry and the increasing use of medical gases
• Rising investments in renewable energy projects such as hydrogen fuel cells

Gas Cylinders Market Report Coverage

Gas Cylinders Market Insights

The escalating demand for clean energy solutions is propelling the widespread adoption of gas cylinders across diverse applications. For instance, according to World Economic Forum, in 2023, the clean energy sector experienced a significant surge, witnessing a 50% increase in renewable energy capacity added to global energy systems compared to the preceding year. These cylinders serve as vital vessels for storing and transporting gases like hydrogen and compressed natural gas (CNG), which are integral components of clean energy initiatives. In sectors ranging from transportation to industrial manufacturing, gas cylinders offer a convenient and efficient means of harnessing eco-friendly energy sources. Their versatility enables them to power vehicles, provide backup energy in remote areas, and support renewable energy projects. As societies increasingly prioritize sustainability, the role of gas cylinders in facilitating the transition to cleaner energy alternatives continues to expand.

The expansion of the gas cylinder market may face challenges due to growing concerns about carbon emissions and environmental sustainability. As awareness of climate change rises, industries and consumers alike are seeking cleaner alternatives to traditional fuel sources. This shift in preference could lead to decreased demand for gas cylinders, especially in sectors where renewable energy options are becoming more accessible and affordable. Additionally, stricter regulations aimed at reducing greenhouse gas emissions may further impact the market by imposing higher costs and limitations on gas cylinder usage. To sustain growth, companies in the gas cylinder industry may need to invest in research and development of greener technologies and actively promote their environmental initiatives to support consumers.

The growing emphasis on renewable energy, notably hydrogen fuel cells, presents an opportunity for the gas cylinder business. As the need for clean energy solutions rises, so does the need for efficient storage and transportation of gasses such as hydrogen. Gas cylinders are critical components in the infrastructure for safely storing and delivering gasses. This spike in renewable energy investments is expected to fuel significant growth in the gas cylinders market, as industries seek dependable solutions to help them migrate to sustainable practices. As a result, gas cylinder manufacturers and suppliers are well-positioned to take advantage of this increasing market scenario.

Gas Cylinders Market Segmentation

The worldwide market for gas cylinders is split based on cylinder type, wrap type, gas type, application, and geography.

Gas Cylinders Type

• High Pressure
• Low Pressure
• Cryogenic Cylinders
• Composite Cylinders

According to the gas cylinders industry analysis, high pressure cylinders are commonly used for storing gases like oxygen, nitrogen, hydrogen, and argon. They are designed to withstand high pressures, and Industries such as healthcare, aerospace, and manufacturing often rely on high-pressure cylinders for their gas storage needs. Additionally, low-pressure cylinders are typically used for gases that do not require high-pressure storage, such as propane, carbon dioxide, and some specialty gases. They are often used in applications like heating, welding, and beverage carbonation. They still hold notable market share, particularly in industries like food and beverage and construction.

Gas Cylinders Wrap Type

• Wrap Less
• Glass Fiber
• Aramid Fiber
• Carbon Fiber
• Others

According to the gas cylinders industry analysis, the rising demand for lightweight and portable gas cylinders is driving the dominance of wrap-less wrap type segments in the market. This innovative design offers enhanced durability and safety while significantly reducing weight compared to traditional cylinders. Its appeal lies in its ability to provide convenience for various applications, from industrial to recreational, fostering its rapid adoption globally. With a focus on efficiency and sustainability, the wrap-less wrap type segment expected to dominates market.

Gas Cylinders Gas Type

• Inert Gases
• Flammable Gases
• Toxic Gases
• Pyrophoric Gases
• Oxidise

According to the gas cylinders industry forecast, inert gases are poised to dominate the gas cylinder market due to their versatility and widespread industrial applications. These gases, such as helium, argon, and nitrogen, are crucial for various industries, including manufacturing, healthcare, and electronics. Their inert nature makes them ideal for creating inert atmospheres, preventing unwanted chemical reactions. Additionally, inert gases are essential for welding, food packaging, and semiconductor production, further driving their demand in the global market.

Gas Cylinders Application

• Kitchen & Domestic
• Processing Industries
• Medical
• Transportation
• Others

According to the gas cylinders industry forecast, kitchen & domestic segment holds a dominant position due to its widespread use in households for cooking purposes. These cylinders are essential for powering gas stoves, heaters, and other appliances, making them indispensable in everyday life. The segment's dominance is further solidified by the continuous demand for cooking gas across residential settings globally. Additionally, the convenience and efficiency offered by gas cylinders make them a preferred choice for households compared to alternative fuel sources. As a result, manufacturers and distributors focusing on innovations to maintain its dominance in market. For instance, in January 2021, Hexagon Composites ASA introduced its next-generation smart LPG cylinders, which display the remaining gas levels and cooking time on the cylinder. Furthermore, the cylinder gives distributors with knowledge into consumer usage patterns, allowing for enhanced logistics.

Gas Cylinders Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Gas Cylinders Market Regional Analysis

For several reasons, the Asia-Pacific region dominates gas cylinder market, propelled by rapid industrialization and urbanization across its diverse economies. With countries like China and India leading the charge, the demand for gas cylinders has surged, driven by burgeoning sectors such as manufacturing, healthcare, and automotive. Additionally, stringent safety regulations and increasing awareness regarding the benefits of using gas cylinders further fuel this growth. The region's robust infrastructure development and expanding healthcare industry are also significant contributors to the market's dominance. As a result, robust presence of manufacturers further poised for continued expansion in the forecast future. For instance, in July 2021, Indane, a subsidiary of Indian Oil Corporation, unveiled the Composite Cylinder, a groundbreaking intelligent gas container. Promising to be lighter, safer, and reportedly more durable than traditional cylinders, this innovation allows consumers to gauge the gas volume through certain translucent components. The cylinder features an exterior blow-molded HDPE liner secured to the casing, with an outer polymer layer enveloping the liner.

Europe is expected to dominate gas cylinder market in forecast year. Firstly, stringent regulations regarding safety and environmental concerns drive the demand for high-quality gas cylinders in industries such as healthcare, manufacturing, and automotive. Secondly, the region's focus on sustainability and green initiatives fosters the adoption of alternative energy sources like hydrogen, necessitating specialized storage solutions. Additionally, Europe's robust infrastructure and technological advancements enable efficient distribution and usage of gas cylinders across diverse applications further contributes to region’s growth. For instance, in 2022, Air Liquide, a global leader in industrial gases and services, strengthened its market position by acquiring the hydrogen barrel business of the Messer Group. This strategic move is expected to bolster Air Liquide's status as a leading supplier of hydrogen barrels for both industrial and mobile applications, further solidifying the company's presence in Europe.

Gas Cylinders Market Players

Some of the top gas cylinders companies offered in our report include 3M, Avery Dennison, Aygaz, Beijing Tianhai Industry Co., Dragerwerk AG & Co. KGaA, Everest Kanto Cylinder Ltd., Faber Industrie SPA, Hexagon Composites ASA, Linde PLC, Luxfer Gas Cylinder, Time Technoplast, and Worthington Cylinders.