The Global LPG Storage Cylinder Market was valued at USD 2,650 million in 2023 and is projected to reach USD 3,674.98 million by 2032, growing at a Compound Annual Growth Rate (CAGR) of 3.70% during the forecast period (2023–2032). This growth stems from increasing adoption of clean energy solutions, rapid urbanization, and expanding LPG applications across residential, commercial, and industrial sectors worldwide.
As the global energy landscape shifts toward sustainable solutions, LPG cylinders play a critical role in safe fuel storage and transportation. In this analysis, we profile the Top 10 Companies in the LPG Storage Cylinder Industry—market leaders driving innovation in manufacturing, safety standards, and distribution networks for this essential energy infrastructure.
🔟 1. Worthington Industries
Headquarters: Columbus, Ohio, USA
Key Offering: Steel & Composite LPG Cylinders
Worthington Industries dominates the global LPG cylinder market with a comprehensive portfolio of steel and composite solutions. The company serves diverse markets across North America, Europe, and Asia with products renowned for their durability and compliance with international safety standards.
Innovation Highlights:
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Pioneering composite cylinder technology
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Lightweight solutions tailored for emerging markets
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Strategic alliances with major gas distributors
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9️⃣ 2. Hexagon Ragasco
Headquarters: Raufoss, Norway
Key Offering: Composite LPG Cylinders
Hexagon Ragasco leads the composite cylinder segment with lightweight, corrosion-resistant solutions distributed to over 70 countries. Their cylinders meet the most stringent global safety certifications while offering significant weight advantages.
Innovation Highlights:
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Fully recyclable composite materials
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Integrated smart monitoring systems
8️⃣ 3. Aygaz
Headquarters: Istanbul, Turkey
Key Offering: LPG Cylinders & Distribution Network
As Turkey’s LPG market leader, Aygaz combines cylinder manufacturing with an extensive distribution infrastructure. The company serves both retail consumers and industrial clients across multiple countries.
Innovation Highlights:
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Advanced digital tracking platform
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Expanding footprint in Middle East and Africa
7️⃣ 4. Faber Industrie
Headquarters: Bergamo, Italy
Key Offering: Steel LPG Cylinders
Faber Industrie stands as Europe’s largest LPG cylinder manufacturer, producing over 20 million units annually for more than 80 countries. Their products set benchmarks for quality and safety in the industry.
Innovation Highlights:
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State-of-the-art automated production
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Proprietary safety valve technology
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LPG Storage Cylinder Market – View in Detailed Research Report
6️⃣ 5. Luxfer Gas Cylinders
Headquarters: Manchester, UK
Key Offering: Aluminum & Composite Cylinders
Luxfer specializes in alternative materials for LPG storage, offering lightweight aluminum and composite solutions that serve both traditional and developing markets with innovative cylinder technologies.
Innovation Highlights:
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Material science advancements
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Specialized cylinders for industrial applications
5️⃣ 6. Jiangsu Minsheng
Headquarters: Zhenjiang, China
Key Offering: Cost-effective Steel Cylinders
As a major Chinese manufacturer, Jiangsu Minsheng supplies cost-efficient steel cylinder solutions to domestic and international markets, particularly across Asia and Africa.
Innovation Highlights:
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High-volume manufacturing capabilities
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Expanding export distribution networks
4️⃣ 7. Sahamitr Pressure Container
Headquarters: Bangkok, Thailand
Key Offering: Southeast Asian Market Solutions
Sahamitr leads Thailand’s LPG cylinder market with products specifically designed for regional requirements and operating conditions throughout Southeast Asia.
Innovation Highlights:
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Developing smart valve systems
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Capacity expansion initiatives
3️⃣ 8. Bhiwadi Cylinders
Headquarters: Rajasthan, India
Key Offering: Domestic LPG Solutions
Bhiwadi Cylinders supports India’s growing LPG market through large-scale production capabilities, playing a key role in the country’s domestic energy infrastructure.
Innovation Highlights:
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Manufacturing automation
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Supporting government’s Ujjwala scheme
2️⃣ 9. Mauria Udyog
Headquarters: Mumbai, India
Key Offering: Commercial-Grade Cylinders
Mauria Udyog produces high-quality steel cylinders for domestic and commercial applications from ISO-certified facilities serving India’s growing energy market.
Innovation Highlights:
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Advanced protective coatings
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Smart cylinder development
1️⃣ 10. Manchester Tank
Headquarters: Franklin, Tennessee, USA
Key Offering: North American Propane Solutions
Manchester Tank specializes in DOT-certified propane cylinders for the U.S. and Canadian markets, providing reliable storage solutions for residential and commercial applications.
Innovation Highlights:
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Enhanced safety systems
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Extreme condition engineering
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LPG Storage Cylinder Market – View in Detailed Research Report
🌍 Market Outlook: The Evolving LPG Storage Landscape
The LPG cylinder industry is undergoing significant transformation, driven by technological innovation, regulatory changes, and evolving consumer demands. Market leaders are responding with advanced solutions that address safety, efficiency, and sustainability challenges.
📈 Key Industry Trends:
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Growing preference for composite cylinders due to weight and safety benefits
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Government initiatives promoting clean cooking fuel adoption
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Integration of IoT technologies for cylinder tracking
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Market expansion in developing regions
Market Segmentation Analysis
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By Product Type: Steel maintains dominance (70% share), while composites exhibit 6.2% CAGR
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By Application: Domestic use accounts for 65% volume; automotive segment growing at 4.1% CAGR
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Regionally: Asia-Pacific leads with 42% market share; North America leads in composite adoption
The companies profiled represent the vanguard of this dynamic industry, developing the storage solutions that support global energy transition through accessible LPG distribution.
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LPG Storage Cylinder Market – View in Detailed Research Report