Asia Pacific LPG Cylinder Market Growth & Forecast 2025

1. 2015 – 2025 ASIA PACIFIC LPG CYLINDER MARKET FORECAST & OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

2. Scope of Report Product of Interest (POI): LPG Cylinder Asia Pacific LPG cylinder market is expected to grow at a robust CAGR during the forecast period, on account of growing demand for liquefied natural gas as it is touted as an environment friendly alternative over coal, petrol and diesel. As a result, governments across various countries in the region are promoting its use over traditional fuels. Lack of infrastructure for distribution of LPG is the primary reason for the growing popularity of LPG cylinders in the region. Market Segmentation CYLINDER TYPE Review Period 2015 – 2019 Base Year 2019 Estimated Year 2020 Forecast Period 2021 – 2025 COUNTRY Year Range • Metal • Composite • India • Japan • China • Thailand • South Korea SIZE • 0 to 5 Kg • 6 to 10 Kg • 11 Kg & Above APPLICATION • Residential/Consumer-use • Power & Utilities • Transport/Auto-fuel

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6. RESEARCH METHODOLOGY

7. Research Methodology Market Profiling Data Analysis Data Collection Data Validation Developing List of Respondents Formulating Questionnaire In-depth secondary research was conducted to determine top players in the Asia Pacific LPG cylinder market, overall market size and segmental market size. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the Asia Pacific LPG cylinder market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection Primary Research Desk Research Company Analysis • Recent Developments • Market Changing Aspects/Dynamics • Government Policies • Conclusion • Market Participants • Key Strengths • Identifying Key Opinion Leaders • Questionnaire Design • In-depth Interviews Primary Research Secondary Research Paid Sources • LinkedIn • TechSci Internal Database • Company Websites • Company Annual Reports • White Paper Study • Financial Reports • Investor Presentations • Regulatory Body • Associations, etc. • Factiva • Hoovers

8. Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of Asia Pacific LPG cylinder market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as growing demand for liquefied natural gas as it is touted as an environment friendly alternative to coal, petrol and diesel. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in this market. Methodology Followed for Calculation of Market Size: • Market Size by: Market size, in terms of value and volume, for the year 2019 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as LPG cylinder companies, channel partners, market influencers & end users, industry experts, and other industry participants. • The team interviewed more than 15 – 20 LPG cylinder companies, 45 – 50 channel partners, 80 – 100 end users, and 15 – 20 industry experts and other value chain stakeholders in the Asia Pacific LPG cylinder market to obtain the overall market size from 2015 to 2019, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during 2015-2019.

9. Research Methodology • Respondents were asked about the current and future market growth rates, market shares by cylinder type, by size, by application, by country and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders. Methodology Followed for Calculation of Market Shares: • Market sharesby cylinder type, by size, by application, by country and by companywere calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of LPG cylinder market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: • TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software. • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market to forecast Asia Pacific LPG cylinder market, TechSci Research used various forecast techniques such as: Moving Average Time Series Analysis Regression Analysis Econometric and Judgmental Analysis

10. Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium- and long-term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD million.

11. Industry Brief According to TechSci Research report, “Asia Pacific LPG Cylinder Market By Cylinder Type, By Size, By Application, By Country, Competition, Forecast & Opportunities, 2025”, Asia-Pacific LPG cylinder market is projected to grow at CAGR of over 5% in terms of value through 2025 on account of extension utilization of LPG in domestic applications and lack of proper infrastructure for the transportation of LPG. Due to unavailability of pipelines in developing economies, liquefied natural gas is transported in cylinders made of metal or composite material. Owing to lower greenhouse emission due to the use of LPG as fuel, several verticals including automotive & construction are switching or have switched to LPG, fueling the demand for LPG, which is anticipated to drive the LPG market through 2025 in the region. However, presence of alternative fuel can hamper the growth of the market. LPG cylinder market in Asia-Pacific can be segmented based on cylinder type, size, application and country. In terms of cylinder type, metal segment is expected to account for the largest share and the trend is likely to continue in the coming years as well. This is due to subsidy offered by government on metal LPG cylinders and attributable to the fact that these cylinders are environment friendly in comparison to composite ones. LPG cylinder market in Asia-Pacific is consolidated with few players occupying the dominant share. Major players operating in the market include China Huanri Group Co. Ltd., Hebei baigong high-pressure vessel Co. Ltd., Mauria Udyog Ltd., Metal Mate Co. Ltd., Sahamitr Pressure Container Plc, Supreme Industries Ltd., Worthington Industries Inc., and Time Technoplast Ltd, among others. “Asia-Pacific LPG cylinder market is expected to grow at brisk growth rate through 2025 due to growing demand for LPG as it is a cleaner fuel with low carbon footprint and high energy value. Moreover, piping natural gas requires huge initial investment for laying pipelines & maintenance after laying whereas LPG cylinders are readily available for instant use. This is expected to positively influence the growth of LPG cylinder market in the region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

12. Sample Data - Snapshot Asia Pacific LPG Cylinder Market Size, By Value (USD Million), By Volume (Million Units) 2015–2025F CAGR By Value & By Volume CAGR By Value & By Volume XX% YY% Asia Pacific LPG Cylinder Market Share, By Country, By Value, 2019 & 2025F India LPG Cylinder Market Share, By Size, By Value, 2015–2025F

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