Executive Summary

The gas cylinder market size was projected to be US$ 7.5 billion in 2023. By the end of 2024, the industry is likely to reach a valuation of US$ 7.9 billion. During the forecast period, the global market for gas cylinder is expected to garner a 5.2% CAGR and reach a size US$ 13.1 billion by 2034.

A rising demand from a variety of sectors including, industrial, agricultural, catering, transportation, logistics, dairy manufacturing, power generation, and others contributes to the market expansion of gas cylinders in the upcoming year, which is anticipated to be propelled by a number of significant factors across multiple segments. The increased demand for gas cylinders is due to their critical function in enabling operations in these industries, underscoring their adaptability and indispensability in sustaining routine tasks and industrial procedures.

Technological and design advancements in gas cylinders are driving market expansion through the improvement of safety, efficiency, and usability. Cylinders that are customized to particular gas types, sizes, colors, and aromas are currently being developed by manufacturers in order to satisfy the changing needs of industries and consumers. Furthermore, the implementation of intelligent monitoring systems and lightweight materials is accelerating sector-wide adoption, which will contribute to the market's growth in the coming year.

An important factor propelling market expansion is the increasing demand for specialty gases, including helium and nitrous oxide. The utility of these gases transcends industry boundaries, encompassing food and beverage, healthcare, and manufacturing, thereby stimulating the demand for specialized gas cylinders. Supported by rising consumer expectations and industry standards, the market for specialty gas cylinders is positioned for substantial growth in the coming year due to the growing emphasis on quality, purity, and dependability.

The increase in demand for gas cylinders in sectors such as the healthcare industry and the proliferation of internal combustion engine vehicles are among the primary factors propelling the market for gas cylinders. Gas cylinders are commonly employed in the healthcare sector for diagnostic and therapeutic objectives. Cylinders filled with medical oxygen gas are frequently utilized in the home care of geriatric patients who are immobile and necessitate a continuous oxygen supply.

Cylinders of medical gas are crucial for the administration of anesthetic gases to patients. During surgery, anesthetic gases are favored for regulating the comatose state of health, ensuring pain relief, and inducing relaxation and comfort. These gas cylinders provide a ready-to-use reservoir of critical life-sustaining gases, including nitric oxide, carbon dioxide, and oxygen, which aid in the stabilization of patients in the event of an emergency. Anesthetic gases and oxygen are utilized in particular therapies and treatments.

• With the advent of digitalization and the emergence of e-commerce platforms, the industrial gases sector is increasingly providing gas cylinders to a broader consumer base.
• With an increasing focus on sustainability and environmental preservation, there is a growing demand for gas cylinder materials that are lightweight, recyclable, and environmentally favorable.

Particularly, the Asia-Pacific region offers substantial expansion prospects for the gas cylinder industry. In countries such as China and India, rapid industrialization, urbanization, and economic development are fueling demand in every sector, from manufacturing to healthcare. In addition, the expanding food and beverage industry in the region, along with the rising utilization of specialty gases in the healthcare and electronics industries, is anticipated to stimulate market expansion in the forthcoming year. This will establish Asia Pacific as a significant catalyst for the expansion of the global market.

The implementation of rigorous safety regulations and standards pertaining to the transportation, storage, and management of gases compelled the use of premium gas cylinders that adhere to global safety standards. This, in turn, stimulated the expansion of the market.

Gas cylinders, which are utilized in green technologies such as hydrogen fuel cells and renewable energy storage systems, are anticipated to experience a substantial surge in demand throughout the period ahead of the forecast.

The healthcare sector is expected to sustain its influence on the market for gas cylinders used in the transportation and storage of medical gases. This is due to factors such as the geriatric population, advancements in healthcare technology, and rising investments in healthcare infrastructure worldwide.

It is anticipated that the increased prevalence of e-commerce platforms and online distribution channels will facilitate the acquisition of gas cylinders, thereby expanding their availability to encompass a broader spectrum of clients, such as small and medium-sized enterprises.

Definition

A gas cylinder is a pressure vessel used to contain gases at pressures greater than those of the atmosphere. Cylinders of high-pressure gas, commonly referred to as bottles. The components contained within the cylinder may be dissolved in a substrate material, supercritical fluid, compressed gas, or vapor over liquid, depending on the physical characteristics of the item. In a conventional gas cylinder configuration, the valve and connecting connection are situated atop the cylinder, protruding and maintaining an erect position on a level lower section. The market is expected to be propelled by the growing emphasis of well-known manufacturers on developing distinctive cylinder designs that enhance safety features, optimize handling and storage capabilities, and are lightweight. It is anticipated that the increased use of gas cylinders for water treatment, soldering, beverage dispensing, medical purposes, heating and cookery, and fire extinguishing will increase global demand.

Trend

Increased adoption of lightweight and portable gas cylinder designs drive the market

It is expected that the market will experience substantial demand as a result of various factors contributing to the increased adoption of lightweight and portable gas cylinder designs. These designs provide improved portability and convenience, appealing to both industrial and consumer sectors in search of adaptable solutions for compressed gas transportation and utilization. For mobile applications, sectors including healthcare, outdoor recreation, and culinary services necessitate portable cylinders; their lightweight constructions mitigate transportation expenses and logistical intricacies. Moreover, the continued progress in materials and engineering methodologies guarantees the durability and safety protocols upheld by lightweight cylinders, thereby accelerating their integration into diverse industries. In general, the inclination towards gas cylinder designs that are lightweight and portable satisfies the changing demands of contemporary industries, thereby stimulating significant market demand in the forthcoming years.

Drivers

Global expansion in the healthcare industry's boost the sales

In the coming year, the gas cylinder market is anticipated to experience a substantial expansion due to the healthcare industry's rising demand for medical gases and cylinders, which is fueled by factors including technological advancements and a growing population. The demand for dependable and effective gas storage and delivery systems increases in tandem with the expansion of healthcare facilities to accommodate a greater number of patients and enable advanced medical procedures that necessitate compressed gases for anesthesia, respiratory therapy, and medical imaging. The increasing demand for compressed gases in the healthcare industry not only signifies their critical role but also provides profitable prospects for gas cylinder producers to address the sectors' changing requirements, thereby propelling market expansion in the coming years.

Restraints

Supply chain disruptions, susceptible socioeconomic environment restrict the market growth

The gas cylinder industry is exceptionally susceptible to variations in the worldwide socioeconomic environment, encompassing the impact of political factors on international commerce. These variables have the potential to significantly impact the availability and cost of primary materials necessary for the production of tubes. Supply chain disruptions caused by political instability, trade disputes, and economic sanctions may result in scarcities and exorbitant costs of basic materials. In addition, changes in socioeconomic status have the potential to impact energy consumption trends, thereby influencing the market demand for gas cylinders. The market is subject to a degree of unpredictability due to these dynamics, which complicates the ability of manufacturers to strategize production and pricing, consequently impeding market expansion.

Opportunities

Rising demand for specialty gases create multiple opportunity

The increasing market demand for specialized gases in diverse sectors provides the gas cylinder industry with a significant opportunity for expansion. These glasses are being utilized more frequently in the food, pharmaceutical, and chemical industries for a variety of purposes, including food preservation, chemical processing, and medical procedures. The surge in demand for gas cylinders propels the market for safe and dependable gas storage and transportation solutions, which in turn increases the need for such products. Recent trends in the industry suggest a consistent increase in the utilization of specialized gases. Consequently, this drives the demand for gas cylinders of superior quality, thereby stimulating market growth in terms of both quantity and technological progress.

Challenges

Increases in transportation expenses challenge the market growth

The market's expansion is substantially hindered by the substantial increases in transportation expenses that result from the rigorous standards for the secure conveyance of gas cylinders. In order to avert accidents and leaks, it is critical that these tubes are secured and handled appropriately; therefore, specialized apparatus and procedures are required. Due to the need to invest in reinforced vehicles and trained personnel to ensure compliance with safety regulations, this results in increased logistic costs. Elevated transportation expenses may ultimately result in elevated prices for final consumers, which may have the effect of diminishing market demand. This situation poses a significant obstacle for lesser market participants, as they may be resource-constrained and unable to effectively handle the escalated operational expenses.

Impact of COVID-19

The Gas Cylinder Market has been significantly impacted by the COVID-19 pandemic, which has caused supply chain disruptions, diminished industrial activities, and modified consumer behavior. Gas cylinder demand decreased as a result of the extensive lockdowns and restrictions implemented to contain the virus's spread, especially in industries that rely significantly on gas usage, such as hospitality, tourism, and automotive. In addition, labor shortages and logistical obstacles impeded manufacturing and distribution operations, which exacerbated the market downturn.

Nevertheless, amidst the global health crisis, specific sectors of the gas cylinder industry experienced a surge in demand, particularly in the pharmaceutical, healthcare, and food industries, where the continued utilization of cooking fuels and medicinal gases was critical. Furthermore, with the progressive reopening of economies and the subsequent adjustment of businesses to novel standards, prospects for market innovation and diversification surfaced. As industries recover and adjust to the changing post-pandemic environment, the Gas Cylinder Market is anticipated to experience a resurgence in the future, albeit with a renewed emphasis on resilience and adaptability in the face of forthcoming disruptions.

Segmentations:

By Gas Type

Increased utilization of helium and nitrogen oxide is anticipated to increase demand for gas cylinders over the next year. Helium's demand is propelled by its diverse range of applications in industries including healthcare, electronics, and aerospace, with medical imaging and gas chromatography being particularly significant. Likewise, the proliferation of Nitrous Oxide in the automotive sector for performance enhancement and medical and dental procedures contributes to the increase in demand for gas cylinders containing these gases.

• Helium
• Nitrous Oxide

By Size (Litre)

The classification of gas cylinder dimensions according to liter ranges, including 2–5, 5–10, 10–15, 15–20, and 20–25 liters, serves as an indication of the varied requirements of consumers and industries. The market is expected to experience an increase in demand for gas cylinders across a range of applications, such as medical equipment, industrial processes, and household cookery. The "Others" provision signifies the ability to adapt in order to accommodate specific or increased capacity needs. By catering to a diverse range of consumers with varying volume requirements, this strategy is anticipated to stimulate market expansion and innovation in the coming year.

• 2 – 5
• 5 – 10
• 10 – 15
• 15 – 20
• 20 - 25
• Others

By Color

In the gas cylinder market, color-based segmentation provides both functional and aesthetic benefits. Cylinders are typically labelled as follows: yellow for industrial gases, purple for inert gases, blue for compressed air or oxygen, and pink for specialised gases such as helium. The "Others" category houses supplementary colors that are employed to designate particular gas varieties or for branding objectives. This system of classification promotes straightforward discernment, adherence to safety regulations, and brand awareness, thereby bolstering consumer trust and operational effectiveness. This color-based segmentation is anticipated to stimulate market expansion in the coming year by satisfying the varying requirements of industries and reinforcing safety regulations.

• Yellow
• Purple
• Blue
• Pink
• Others

By Flavors

The innovative strategy of classifying gas cylinder flavors as in the food and beverage industries, where flavored gases are utilized—into categories such as "Others," mint, strawberry, lemon, grape, blueberry, and orange—illustrates the aforementioned flavors. Although revitalizing beverages are commonly associated with mint and lemon flavors, strawberry, grape, blueberry, and orange flavors appeal to a wider range of palates. The incorporation of "Others" provides adaptability to incorporate distinctive or developing flavor trends. By providing enterprises aiming to improve the flavor and aroma of their products with a greater selection of alternatives, this segmentation strategy is expected to stimulate market demand, thereby fostering innovation and market expansion in the coming years.

• Mint
• Strawberry
• Lemon
• Grape
• Blueberry
• Orange
• Others

By Application

Analyzing the various sectors and industries that depend on compressed gases for distinct objectives can be achieved through the segmentation of gas cylinder usage by application. Gases are employed in the catering and bartending industries to carbonate beverages and preserve food, whereas they are utilized in medicine for anaesthesia and medical gases. Gases may be utilized in health and fitness for cryotherapy or oxygen therapy. Compressed gases are frequently used in model rocketry and racing propulsion systems. In the production of food and beverages, gases may be used for processing and packaging. Transportation and logistics may utilize fuel or refrigeration gases. Gases are utilized in the dairy industry for pasteurization and packaging. The "Others" category provides the necessary adaptability to accommodate specialized applications. The implementation of application-based segmentation is anticipated to stimulate innovation and market expansion in the forthcoming period, thereby propelling demand for gas cylinders across various industries.

• Catering
• Medicine
• Bartending
• Health & Fitness
• Model Rocketry
• Racing
• Food and beverage
• Transport & Logistics
• Dairy Manufacturing
• Others

Geography Chapter

Growing industry in the United States to Boost Sales

Through 2034, the gas cylinder market in the United States is anticipated to increase at a CAGR of XX%. Gas cylinders are necessary for the storage and transportation of various gases in the manufacturing, power generation, transport & logistics, food & beverage and other industries, that comprise the nation's diverse industrial base. The proliferation of these sectors propels the need for gas cylinders in a variety of applications.

The United States maintains a prominent position in the energy industry due to its substantial output of renewable energy sources, natural gas, and hydrocarbons. The demand within the energy sector is propelled by the necessity of gas cylinders for storing and transporting gases utilized in energy exploration, production, and distribution.

Expansion of the food and beverage industry throughout the Asia-Pacific region.

In the coming year, the anticipated expansion of the food and beverage industry throughout the Asia-Pacific region will substantially increase the demand for flavored gas cylinders. In response to the increased consumer demand for novel and varied culinary experiences in the region, food and beverage manufacturers are progressively adopting flavored gases as a means to improve the aroma and flavor characteristics of their products. Flavored gas cylinders provide a practical and effective solution for various purposes, including carbonating beverages, infusing flavors into confectionery, and preparing specialty culinary creations. The increased demand for flavored gas cylinders is indicative of the sector's pursuit of distinctiveness and consumer involvement, which will drive the market for these items to experience significant expansion in the near future.

Company Landscape

The gas cylinder market is distinguished by a heterogeneous composition of international, regional, and domestic participants who engage in competition across multiple market segments and geographic areas.

In pursuit of market share and differentiation, the gas cylinder industry is highly competitive, attracting numerous manufacturers, suppliers, distributors, and service providers. Demand for gas cylinders encompasses numerous sectors, including construction, industry, healthcare, automotive, and energy.

Some of the prominent developments by the important companies in this domain are

• Luxfer Gas Cylinders, an additional notable participant in the industry, revealed its intentions for expansion in 2023. As a consequence of the growing market demand for compressed natural gas (CNG) solutions and alternative fuel vehicles, the organization has declared its intent to augment its manufacturing capabilities within the United States.
• Air Liquide, a global provider of industrial gases and services, made its market entry in 2022 through the acquisition of Messer Group's hydrogen barrel business. The action is expected to enhance Air Liquide's standing as a leading provider of hydrogen containers for industrial and mobile purposes, as well as solidify the organization's footprint in Europe.
• Indane, an affiliate of Indian Oil Corporation, introduced the Composite Cylinder, a novel intelligent gas cylinder, in July 2021. It is lighter, safer, and allegedly more robust than conventional gas cylinders. The ability of consumers to ascertain the volume of gas contained within the tube is facilitated by the translucency of specific components. An exterior blow-molded HDPE liner is affixed to the garment. The outermost layer envelops the liner with polymer.

Company Profile

The diversified portfolio of products offered by the multinational conglomerate 3M Company spans numerous industries, including industrial, consumer goods, healthcare, and consumer goods. 3M, an organization founded in the United States in 1902, has emerged as a frontrunner in the field of innovation by placing considerable importance on research and development. Among the renowned brands in the organization's portfolio are Scotch, Post-it, and Command. Operating in more than seventy countries worldwide, 3M is dedicated to providing inventive resolutions that not only elevate productivity but also better quality of life, all the while upholding its fundamental principles of sustainability and corporate accountability.

Conclusion:

The market for gas cylinders is anticipated to experience substantial expansion in the forthcoming year due to several factors: rising demand in a wide range of applications, technological progress in gas cylinder materials, and the widespread adoption of alternative gas types. These trends emphasize the market's ability to withstand and adjust to changing industry demands, as well as the critical function that gas cylinders play in facilitating numerous sectors and activities.

The gas cylinder market is anticipated to experience significant expansion in the forthcoming year on account of its diverse range of industrial applications. Compressed gases are utilized in every industry, from transportation and logistics to medicine and catering and food & beverage, for a variety of functions spanning from rocket propulsion to food preservation. The wide range of applications for gas cylinders highlights the market's adaptability and durability, which is conducive to its ongoing growth.

As environmental consciousness and a greater emphasis on sustainability increase, market dynamics are being influenced, which is driving demand for eco-friendly gas cylinder solutions. Composite materials and recyclable cylinders are among the alternatives being investigated by manufacturers in an effort to reduce carbon emissions and environmental impact. The emphasis on sustainability finds favor among both consumers and industries, resulting in increased adoption and a positive impact on market growth in the upcoming year due to companies' efforts to comply with environmental regulations and goals.

Moreover, with the ongoing emphasis of sectors on sustainability, safety, and efficiency in gas transportation and storage, the market for gas cylinders is anticipated to experience continued innovation and investment. The aforementioned growth trajectory offers prospects for stakeholders to exploit nascent trends and advancements, thereby establishing a favorable position for themselves in a dynamic and ever-changing market environment.

Technological advancements and an increase in cylinder innovation are anticipated to create a market expansion opportunity for the gas cylinder industry. Technological advancements and the subsequent surge in cylinder innovation are anticipated to generate a market expansion opportunity for gas cylinders.

• The increasing apprehension regarding environmental sustainability and fuel efficiency is driving fleet operators and consumers to search for vehicles with reduced carbon emissions and fuel consumption.
• Various regions are witnessing the implementation of regulatory bodies and governments providing tax benefits, subsidies, and incentives to encourage the use of alternative fuel vehicles and infrastructure.
• The market is expanding due to the increasing incidence of respiratory ailments, including chronic obstructive pulmonary disease, asthma, and pneumonia.
• Market expansion is propelled by medical gas cylinders featuring advanced valve systems, pressure regulators, and safety features that facilitate the efficient operation of these apparatuses.
• The demand for medical gases is being fueled by the increasing number of surgical procedures, which includes elective surgeries, emergency interventions, and minimally invasive procedures.
• The increasing prevalence of telemedicine and home healthcare services is stimulating the need for portable medical gas cylinders, which facilitate the administration of medical gases, including oxygen therapy, to patients in their residences.
• In the automotive gas cylinder sector, innovation, investment, and market expansion are being stimulated through the formation of strategic alliances and partnerships.
• Market expansion is aided by the establishment of CNG/LPG refueling stations and distribution networks, which facilitate the adoption of alternative fuel vehicles.

Commercial Adoption is Expected to Grow Significantly

• Luxfer Gas Cylinders, a leading U.S.-based manufacturer of light, high-pressure kind III composite cylinders, introduced its first Non-Limited Life (NLL) medical containers in October 2020. Through this launch, the organization intends to aid individuals afflicted with respiratory ailments in the wake of the escalating prevalence of COVID-19. The cask is intended for hospitals and is constructed to last for at least 15 years.
• Faber Industrie Spa (Faber) successfully attained a weighted efficiency of 0.84 kg/l for its CNG type 1 tube operating at 200 working pressure in April 2019. Additionally, the organization proposes that the efficacy be increased to 0.75 kg/l through the application of a sophisticated high-strength steel grade. With this technological accomplishment, the organization intends to gain market dominance through technological advancement.