According to TechSci Research report, “India LPG Cylinder Market– By Region, Competition, Forecast & Opportunities, 2029F”, the India LPG Cylinder market is anticipated to register a high CAGR in the forecast period. The modern-day call for hubs being created, which include rural LPG families and the favorable situation for AutoLPG, are anticipated to create great possibilities for the LPG cylinder market players. The urbanization rate in India is rising, driving the growth of the LPG cylinder market. As people move to urban areas, they have access to better infrastructure, including LPG distribution networks. This makes it easier for them to get LPG cylinders, which is boosting its demand.
Furthermore, the prices of LPG have been declining in recent years, making it more affordable for consumers. This is also driving the growth of the LPG cylinder market. For instance, Indian Oil has reduced the expenses of LPG cylinders business. Announcing the information on its website, the oil advertising and marketing organization stated that the brand-new expenses could be relevant from 1 June 2023. After this modern deduction, the nineteen kg business LPG cylinder will retail at INR 1773 in Delhi as compared to INR 1856.50 earlier. Similarly, the economic cylinder will fee INR 1,875.50 in Kolkata (INR 1960.50 earlier), INR 1,725 in Mumbai (INR 1808.50 earlier), and INR 1937 in Chennai (INR 2021.50 earlier). Since the cost is decreasing, the market is expected to grow in the forecast period.
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Furthermore, India has witnessed a remarkable surge in the demand for liquefied petroleum gas (LPG) cylinders in recent years. This growth can be attributed to two key factors: the rise of Village Level Entrepreneurs (VLC) and the increasing adoption of digital services. Both these factors have revolutionized the distribution and accessibility of LPG cylinders in rural areas, empowering communities and driving economic development.
Village Level Entrepreneurs (VLCs) have emerged as a vital link between LPG suppliers and remote rural areas. These enterprising individuals establish small businesses at the village level to distribute LPG cylinders, catering to the needs of the local population. VLCs are often local residents who understand the unique challenges faced by their communities and possess the knowledge and connections necessary to navigate them effectively. By leveraging their entrepreneurial skills, VLCs have become key drivers of LPG cylinder adoption, particularly in regions where traditional distribution networks may be inadequate.
Key market players in the India LPG Cylinder Market include:
- Indian Oil Corporation Limited
- Bharat Petroleum Corporation Limited
- Haldia Petrochemicals Ltd (HPL)
- Gujarat Gas Limited
- Maharashtra Natural Gas Limited
- Shv Energy Private Limited
- Aegis Logistics Limited
- Confidence Petroleum India Limited
- Time Technoplast Limited
- Prestige Feed Mills Ltd.
The India LPG Cylinder Market is segmented based on Material Type, Cylinder type, Application, Size, and region. Based on Material Type, the market is segmented into Glass Fiber composites, Metal, and Others. Based on Cylinder type, the market is segmented into Metal and Composites. Based on Application, the market is segmented into Residential/Consumer-use, Power & Utilities, and Transport/Auto-fuel. Based on Size, the market is divided into 0 to 5 Kg, 6 to 10 Kg, and 11 Kg & Above. Based on region, the market is segmented into West, North, South, and East.
Based on Application, the market is segmented into Residential/Consumer-use, Power & Utilities, and Transport/Auto-fuel. The residential sector is expected to dominate the market in the forecast period. Due to this, the availability of LPG cylinders has increased in recent years, making them more accessible to households. This is due to the government’s initiatives to promote the use of LPG, such as the Pradhan Mantri Ujjwala Yojana (PMUY). In addition, LPG is a convenient and safe cooking fuel. It is easy to use and does not produce smoke or harmful pollutants. This makes it a popular choice for the residential sector.
The number of Transport/Auto-fuel establishments is increasing in India, which is driving the demand for LPG cylinders in Transport/Auto-fuel sector. This is due to the growing number of transport facilities in India.
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“The India LPG cylinder market has experienced significant growth due to the efforts of Village Level Entrepreneurs (VLCs) and the adoption of digital services. With continued support and advancements in technology, the VLC-driven and digitally enabled LPG cylinder market in the Indian nation is poised for further expansion and success due to which the market is expected to grow in the future.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India LPG Cylinder Market By Material Type (Steel, Composite, And Others), By Material Type (Glass Fiber Composites, Metal, Others), By Cylinder type (Metal, Composites), By Application (Residential/Consumer-use, Power & Utilities, Transport/Auto-fuel), By Size (0 to 5 Kg, 6 to 10 Kg, 11 Kg & Above)By Region, Competition, Forecast and Opportunities, 2028..”, has evaluated the future growth potential of India LPG Cylinder Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the India LPG Cylinder Market.
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