Industrial Gas Cylinder Market Insight: Market Trends, Growth, Forecasted from 2024 TO 2031

Executive Summary

The Industrial Gas Cylinder Market research report provides a comprehensive analysis of market conditions, trends, and geographical spread. The market is expected to grow at a CAGR of 6% during the forecasted period.

The report highlights key market trends such as increasing demand for industrial gases in various industries including healthcare, food and beverage, manufacturing, and automotive. This is driving the growth of the industrial gas cylinder market as these gases are commonly stored and transported in cylinders.

In terms of geographical spread, North America, Asia Pacific (APAC), Europe, USA, and China are key regions for the industrial gas cylinder market. North America and Europe have a well-established industrial infrastructure and high demand for industrial gases, driving market growth in these regions. APAC and China are seeing significant growth due to rapid industrialization and increasing adoption of industrial gases in various industries.

Overall, the Industrial Gas Cylinder Market research report provides valuable insights into market conditions, trends, and geographical spread. With a projected CAGR of 6%, the market is expected to witness steady growth in the coming years.

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Market Segmentation:

This Industrial Gas Cylinder Market is further classified into Overview, Deployment, Application, and Region.

In terms of Components, Industrial Gas Cylinder Market is segmented into:

Sinoma Technology Co., Ltd.
Worthington Industries
Rama Cylinders
Faber Industrie
Ningbo Meike Acetylene Bottle Co., Ltd.
Luxfer Group
Beijing Tianhai Industry Co., Ltd.
Hebei Baigong Industrial Co., Ltd.
Lianyungang Zhongfu Lianzhong Composite Materials Group Co., Ltd.
Everest KantoCylinders
Chart Industries

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The Industrial Gas Cylinder Market Analysis by types is segmented into:

Steel Industrial Gas Cylinder
Aluminum Industrial Gas Cylinder
Composite Industrial Cylinder

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The Industrial Gas Cylinder Market Industry Research by Application is segmented into:

General Industry
Chemical Energy
Food Industry
Medical Industry
Other

In terms of Region, the Industrial Gas Cylinder Market Players available by Region are:

North America:

United States
Canada

Europe:

Germany
France
U.K.
Italy
Russia

Asia-Pacific:

China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia

Latin America:

Mexico
Brazil
Argentina Korea
Colombia

Middle East & Africa:

Turkey
Saudi
Arabia
UAE
Korea

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Key Drivers and Barriers in the Industrial Gas Cylinder Market

Key drivers in the Industrial Gas Cylinder market include the increasing demand for industrial gases in various end-use industries, rising investments in infrastructural development, and a growing need for efficient storage and transportation of gases. Barriers in the market may include stringent regulations regarding the transportation and storage of industrial gases, high initial setup costs, and safety concerns associated with gas handling. Challenges faced in the market include fluctuating prices of raw materials, stiff competition among manufacturers, and a lack of skilled labor for handling and maintenance of gas cylinders. Additionally, the COVID-19 pandemic has also impacted the market by disrupting supply chains and causing delays in production and distribution.

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Competitive Landscape

Worthington Industries is a leading industrial gas cylinder manufacturer based in the United States. The company was founded in 1955 and has since grown to become a global leader in the industry. Worthington Industries is known for its high-quality products and innovative solutions for storing and transporting industrial gases. The company has a strong presence in the market, with a wide range of customers across various industries.

Faber Industrie is another key player in the industrial gas cylinder market. The company is based in Italy and has a strong reputation for producing advanced composite gas cylinders. Faber Industrie has been in business for over 40 years and has established itself as a trusted supplier of gas cylinders for a wide range of applications. The company's products are known for their durability, safety, and efficiency.

Luxfer Group is a global leader in the industrial gas cylinder market, with a strong presence in Europe, North America, and Asia. The company was founded in 1898 and has a long history of innovation in the field of gas containment. Luxfer Group offers a wide range of gas cylinders, including aluminum, composite, and steel cylinders, for various industrial applications. The company's products are widely used in sectors such as healthcare, aerospace, and alternative fuels.

The sales revenue of these companies varies, with Worthington Industries reporting sales of over $3 billion in 2020, Faber Industrie reporting sales of over $200 million in the same year, and Luxfer Group reporting sales of over $400 million. These figures highlight the strong market position and growth potential of these key players in the industrial gas cylinder market.

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