Acetylene Gas Cylinder Market Size, Share, Growth, and Industry Analysis, By Type (<10L, 10L-40L, >40L), By Application (Factory, Scientific Research Field), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

Acetylene Gas Cylinder Market REPORT OVERVIEW

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The global acetylene gas cylinder market size was 142.2 million in 2022. As per our research, the acetylene gas cylinder market is expected to reach USD 163.5 million by 2028, exhibiting a CAGR of 2.4% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, acetylene gas cylinder experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

A van and minivan conversions serves as a vehicle that is sent to outside firms to be fitted with various comforts for camping excursions and road journeys, as well as fittings for business uses. It might be a full-sized passenger van that has had the back seats reconfigured for commercial use instead of a family van, such as automobiles, educational shuttle buses, and limousines. Other adaptations could involve specialized fitting work to modify a light commercial vehicle's cargo area so that it can be used for delivery or supply chain operations.

In order to keep them secure and make use of the entire storage capacity of the truck, this includes a variety of things like installing freezing systems, installing stacking structures for storing of equipment and commodities, and so forth. In order to protect them and make use of the vehicle's entire storage capacity. Nowadays, more vans are being converted for individual use, such as traveling and recreational activities.

Additionally, the market offers opportunity for technical developments including networking solutions and smart home features. Overall, the market presents several opportunities for organizations to profit from the expanding need for flexible and customized mobile solutions.

COVID-19 Impact: Interruption in Services to Deplete Market Growth

Uncertainty, postponed investments, altered supply chains, and increasing localisation were all caused by the COVID-19 pandemic. To enhance margins, businesses are choosing ambitious price and efficiency targets in response to the pandemic's effects. One of the most important tactics for market development has been identified as cooperation across the value chain. In addition, focused on customers, technologically enabled products are a well-known trend in the sector. However, the market was impacted drastically during the COVID-19 pandemic.

LATEST TRENDS

"Growth in the Metal Working Activities to Stimulate Market Development  "

Due to the rise in metal working activities around the world, the metal fabrication segments, which comprised of the worldwide acetylene gas market share in 2021, are predicted to grow at a substantial CAGR over the forecast period. Acetylene is used for oxyacetylene cutting, heat treatment, welding, soldering, and other metal fabrication processes. Numerous end-use industries, including the automotive, building construction, industrial, and others, utilize these metals.

Acetylene Gas Cylinder Market SEGMENTATION

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• By Type

Based on type; the market is divided into <10L, 10L-40L, >40L

<10L is the leading part of the type segment.

• By Application

Based on the application; the market is divided into factory, scientific research field

Factory is the leading part of the application segment.

DRIVING FACTORS

"Transportation Sector to Aid Market Expansion "

The market share of acetylene gas held by the transportation sector was about much lower in 2021, and it is anticipated to expand at a substantial CAGR during the projected period. An increasing need for acetylene gas cylinder is being created worldwide as a result of a rise in manufacturing in the transport sector. The most common material utilized to fabricate metal parts for automobiles is acetylene gas.

The European Automobile Manufacturers' Association (ACEA) estimates that in April 2022, there will be around 684,506 new passenger cars and 125,034 new commercial vehicles registered in the European Union. As a result, the scope of the acetylene gas cylinder market growth is going to grow throughout the forecast period due to rising metal consumption and rising transportation sector production.

"Employment in Chemical Industries to Foster Industry Progress "

Acetylene gas cylinder is utilized in the chemical industry for a variety of purposes, including the synthesis of chemicals for the creation of different compounds such acetic acid, acetaldehyde, and acetic anhydride. These products are frequently used in the manufacture of medicines, polymers, and other products. For instance, the European Union Organization estimates that 376 metric tons of plastic would be produced worldwide in 2021. Different plastic goods are utilized to create numerous household and additional products. Additionally, acetylene gas is used in processes that aid in the synthesis of vitamins A and E.

Numerous end-use industries use these goods extensively. As a result, the chemical sector will eventually be driven by expanding end-use industries, which will in turn fuel the acetylene gas market share.

RESTRAINING FACTORS

"Associated Environmental Challenges to Limit the Market Evolution "

The worldwide acetylene gas cylinder market has long faced significant environmental challenges. Both the environment and living things are being impacted by the dangerous particulate matter emissions produced during the production of acetylene gas. Airborne particles have an impact on visibility and air quality.

Particle matter reduces visibility, which diminishes an area's appeal and practicality and can have a negative impact on buildings and vegetation. Acetylene gas market restraints during the forecast period include skin and respiratory tract irritation, asthma, and dermatitis brought on by excessive exposure to the gas.

Acetylene Gas Cylinder Market REGIONAL INSIGHTS

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"Expanding Infrastructural Projects in Asia Pacific to Support Market Advancement "

Due to the expanding industrial, automotive, residential, commercial, and big infrastructure projects in developing nations including China, India, Indonesia, and others, the Asia Pacific region had the greatest chunk of the acetylene gas cylinder market share in 2021. A sort of welding procedure that combines heat and oxygen in order to melt and bond metal components is the main cause of the development of acetylene gas cylinder.

Any metal can be melted by the heat generated by the burning of acetylene gas cylinder. Acetylene gas cylinder, which is widely employed in numerous end-use sectors, is also in high demand as a result of the metal industry's expansion, rising production, and increased investment. 

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Norris Cylinder (U.S.)
• Worthington (U.S.)
• MNKgases (Ireland)
• Cyl-Tec (U.S.)
• ECS (U.S.)
• BOC(Linde) (U.K.)
• JAI MARUTI GAS (India)
• Tianhai (China)
• Henan Shenghui (China)
• Henan Saite (China)
• Ningbo Meike (China)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.