Pressure Vessel Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Pressure Vessel Market: By Product Type (Boilers, Reactors, Separators, and Others), Material Type (Steel Alloys, Composites, and Others), Heat Source (Unfired and Fired), Industry Vertical (Power, Oil & Gas, Chemicals & Petrochemicals, and Others) And Geography

 

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Report

Description

Pressure Vessel Market size is expected to be valued at USD 178.7 billion in 2022 and is expected to grow at a CAGR of 5.4% in 2022-2028. A pressure vessel is a closed vessel intended to grip gases or liquids at a considerably higher or lower pressure than surrounding pressure. Furthermore, alternative fuels are extracted from sources instead of petroleum, which comprise gaseous fuels, including natural gas, propane; hydrogen, and alcohols such as ethanol, butanol, and methanol; vegetables and oils derived from waste; and electricity. However, pressure vessels are used in the production of alternative fuel which is called pressure vessels for alternative fuel. The pressure vessel for alternative fuel is made of titanium, steel, nickel alloys, and aluminum. Vessels are in the shape of cylindrical or spherical. Furthermore, the main alternative fuels are electricity, biodiesel, hydrogen, ethanol, propane, and natural gas. The increase in demand for alternative fuels can lead to pressure vessel market growth. Moreover, increasing acceptance of supercritical power generation techniques together with significant growth in the petrochemical and chemical business and the influence of the manufacturing sector by technological innovations are some primary factors that can boost the global pressure vessel market size. Apart from these, the investment for exploration and production actions in numerous industries such as power generation, oil and gas, chemicals, and various other sectors can also accelerate the market in the future. Pressure vessels provide resistance from cross-contamination and corrosion which makes it useful in various chemical procedures. However, the booming growth of the chemical industry accompanied by the advantages of pressure vessels can also drive the global market further.  However, some factors such as corrosion of metal apparatuses frequently within pressure vessels which decreases equipment efficiency can restrain the growth of the market.

 

Pressure Vessel Market

MARKET SUMMARY
-
5.4%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 5.4%
  • Largest Market– North America
  • Fastest Growing Market– Asia Pacific

Pressure Vessel Market

  • The pressure vessel market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The pressure vessel market segmented based on product type, material type, heat source, industry vertical, and region.
Key Players
  • Bharat Heavy Electricals.
  • Larsen & Toubro.
  • General Electric Co
  • Halvorsen
  • IHI Corporation
Pressure Vessel Market Dynamics

One of the major reasons for the global pressure vessel market growth is the extensive accessibility of many sizes of pressure vessels. pressure vessels are obtained according to the volume of water ingested. This is the main factor as governments of numerous countries internationally are presently concentrating on sustainable and shrewd use of natural resources. Moreover, as freshwater sources are reducing gradually, industry specialists should always search for pressure systems that either devour less capacity of water or create a wastewater treatment from which water can be obtained and put into a pressure system for fulfilling their demand for the water sources. These factors are expected to propel the growth of the market in the forecast period.


Asia-Pacific Got Significant Share

Pressure Vessel Market

The Asia Pacific is dominating the global pressure vessel market, due to the fast development of the power sector. Moreover, the increasing installation of nuclear powerhouses and quickly growing chemical and oil and gas sectors have also attributed to the growth of the market. In addition, North America is one of the most profitable regions and is generating new prospects for global players. increasing installation in industries, such as oil and gas, chemical and petrochemical, and power generation which has the potential to increase the demand for pressure vessels in these regions. Apart from this, the growing use of nuclear reactors in nuclear power production has created a demand for the use of pressure vessel.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The pressure vessel market report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Pressure Vessel Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The primary factors that drive the market are increasing consideration towards the renewable energy segment, customization options of pressure vessels, and rising requirements for energy around the globe.

Wilcox Enterprises. (U.S.A), Doosan Heavy Industries & Construction Co. (South Korea), Mitsubishi Heavy Industries. (Japan), Bharat Heavy Electricals. (India), Larsen & Toubro. (India), Dongfang Electric Machinery. (China), General Electric Co (U.S.A), Halvorsen (Norway), and IHI Corporation (Japan) are the key players in the market.

The Asia Pacific is dominating the pressure vessel market.

Steel placed under the material type segment is the fastest-growing segment of the market.


Report

Table Of Content

1. Executive Summary
2. Global Pressure Vessel Market Introduction
2.1. Global Pressure Vessel Market – Taxonomy
2.2. Global Pressure Vessel Market –Definitions
2.2.1. Product Type
2.2.2. Material Type
2.2.3. Heat Source
2.2.4. Industry Vertical
2.2.5. By Region
3. Global Pressure Vessel Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Pressure Vessel Market Dynamic Factors – Impact Analysis
3.6. Global Pressure Vessel Market – Competition Landscape
3.7. Epidemiology
4. Global Pressure Vessel Market Analysis, 2017-2021 and Forecast, 2022-2028
4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Pressure Vessel Market, By Product Type, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.1. Boilers
5.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Reactors
5.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Separators
5.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
5.4. Others
5.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.4.3. Market Opportunity Analysis
6. Global Pressure Vessel Market, By Material Type, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.1. Steel Alloys
6.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Composites
6.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Others
6.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
7. Global Pressure Vessel Market, By Application, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.1. Unfired
7.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Fired
7.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
8. Global Pressure Vessel Market, By End User, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.1. Power
8.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Oil & Gas
8.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Chemicals & Petrochemicals
8.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Others
8.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
9. Global Pressure Vessel Market Forecast, By Region, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.1. North America
9.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.1.3. Market Opportunity Analysis
9.2. Europe
9.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.2.3. Market Opportunity Analysis
9.3. Asia-Pacific
9.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.3.3. Market Opportunity Analysis
9.4. Latin America
9.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.4.3. Market Opportunity Analysis
9.5. Middle East and Africa
9.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.5.3. Market Opportunity Analysis
9.6. Global Pressure Vessel Market – Opportunity Analysis Index, By Product Type, By Material Type, By Application, By End User, and Region, 2022-2028
10. North America Pressure Vessel Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
10.1. Product Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Boilers
10.1.2. Reactors
10.1.3. Separators
10.1.4. Others
10.2. Material Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Steel Alloys
10.2.2. Composites
10.2.3. Others
10.3. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.3.1. Unfired
10.3.2. Fired
10.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.4.1. Power
10.4.2. Oil & Gas
10.4.3. Chemicals & Petrochemicals
10.4.4. Others
10.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.5.1. USA
10.5.2. Canada
10.6. North America Pressure Vessel Market – Opportunity Analysis Index, By Product Type, By Material Type, By Application, By End User, and Country, 2022-2028
10.7. North America Pressure Vessel Market Dynamics – Trends
11. Europe Pressure Vessel Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
11.1. Product Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Boilers
11.1.2. Reactors
11.1.3. Separators
11.1.4. Others
11.2. Material Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Steel Alloys
11.2.2. Composites
11.2.3. Others
11.3. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.3.1. Unfired
11.3.2. Fired
11.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.4.1. Power
11.4.2. Oil & Gas
11.4.3. Chemicals & Petrochemicals
11.4.4. Others
11.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.5.1. Germany
11.5.2. UK
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Rest of Europe
11.6. Europe Pressure Vessel Market – Opportunity Analysis Index, By Product Type, By Material Type, By Application, By End User, and Country, 2022-2028
11.7. Europe Pressure Vessel Market Dynamics – Trends
12. Asia-Pacific Pressure Vessel Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
12.1. Product Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Boilers
12.1.2. Reactors
12.1.3. Separators
12.1.4. Others
12.2. Material Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Steel Alloys
12.2.2. Composites
12.2.3. Others
12.3. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.3.1. Unfired
12.3.2. Fired
12.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.4.1. Power
12.4.2. Oil & Gas
12.4.3. Chemicals & Petrochemicals
12.4.4. Others
12.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.5.1. China
12.5.2. India
12.5.3. Japan
12.5.4. ASEAN
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia-Pacific
12.6. Asia-Pacific Pressure Vessel Market – Opportunity Analysis Index, By Product Type, By Material Type, By Application, By End User, and Country, 2022-2028
12.7. Asia-Pacific Pressure Vessel Market Dynamics – Trends
13. Latin America Pressure Vessel Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
13.1. Product Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Boilers
13.1.2. Reactors
13.1.3. Separators
13.1.4. Others
13.2. Material Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Steel Alloys
13.2.2. Composites
13.2.3. Others
13.3. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.3.1. Unfired
13.3.2. Fired
13.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.4.1. Power
13.4.2. Oil & Gas
13.4.3. Chemicals & Petrochemicals
13.4.4. Others
13.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Latin America Pressure Vessel Market – Opportunity Analysis Index, By Product Type, By Material Type, By Application, By End User, and Country, 2022-2028
13.7. Latin America Pressure Vessel Market Dynamics – Trends
14. Middle East and Africa Pressure Vessel Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
14.1. Product Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.1.1. Boilers
14.1.2. Reactors
14.1.3. Separators
14.1.4. Others
14.2. Material Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.2.1. Steel Alloys
14.2.2. Composites
14.2.3. Others
14.3. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.3.1. Unfired
14.3.2. Fired
14.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.4.1. Power
14.4.2. Oil & Gas
14.4.3. Chemicals & Petrochemicals
14.4.4. Others
14.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
14.5.1. Gulf Cooperation Council (GCC) Countries
14.5.2. South Africa
14.5.3. Rest of MEA
14.6. MEA Pressure Vessel Market- Opportunity Analysis Index, By Product Type, By Material Type, By Application, By End User, and Country, 2022-2028
14.7. MEA Pressure Vessel Market Dynamics – Trends
15. Competition Landscape
15.1. Strategic Dashboard of Top Market Players
15.2. Company Profiles (Introduction, Financial Analysis, Key Product Types, Key Developments, Strategies, and SWOT Analysis)
15.2.1. Babcock and Wilcox Enterprises. (U.S.A)
15.2.2. Doosan Heavy Industries & Construction Co. (South Korea)
15.2.3. Mitsubishi Heavy Industries. (Japan)
15.2.4. Bharat Heavy Electricals. (India)
15.2.5. Larsen & Toubro. (India)
15.2.6. Dongfang Electric Machinery. (China)
15.2.7. General Electric Co (U.S.A)
15.2.8. Halvorsen (Norway)
15.2.9. IHI Corporation (Japan)
16. Research Methodology
17. Key Assumptions and Acronyms

Report

Company Profile

  • Babcock and Wilcox Enterprises. (U.S.A)
  • Doosan Heavy Industries & Construction Co. (South Korea)
  • Mitsubishi Heavy Industries. (Japan)
  • Bharat Heavy Electricals. (India)
  • Larsen & Toubro. (India)
  • Dongfang Electric Machinery. (China)
  • General Electric Co (U.S.A)
  • Halvorsen (Norway)
  • IHI Corporation (Japan)

Description

Pressure Vessel Market size is expected to be valued at USD 178.7 billion in 2022 and is expected to grow at a CAGR of 5.4% in 2022-2028. A pressure vessel is a closed vessel intended to grip gases or liquids at a considerably higher or lower pressure than surrounding pressure. Furthermore, alternative fuels are extracted from sources instead of petroleum, which comprise gaseous fuels, including natural gas, propane; hydrogen, and alcohols such as ethanol, butanol, and methanol; vegetables and oils derived from waste; and electricity. However, pressure vessels are used in the production of alternative fuel which is called pressure vessels for alternative fuel. The pressure vessel for alternative fuel is made of titanium, steel, nickel alloys, and aluminum. Vessels are in the shape of cylindrical or spherical. Furthermore, the main alternative fuels are electricity, biodiesel, hydrogen, ethanol, propane, and natural gas. The increase in demand for alternative fuels can lead to pressure vessel market growth. Moreover, increasing acceptance of supercritical power generation techniques together with significant growth in the petrochemical and chemical business and the influence of the manufacturing sector by technological innovations are some primary factors that can boost the global pressure vessel market size. Apart from these, the investment for exploration and production actions in numerous industries such as power generation, oil and gas, chemicals, and various other sectors can also accelerate the market in the future. Pressure vessels provide resistance from cross-contamination and corrosion which makes it useful in various chemical procedures. However, the booming growth of the chemical industry accompanied by the advantages of pressure vessels can also drive the global market further.  However, some factors such as corrosion of metal apparatuses frequently within pressure vessels which decreases equipment efficiency can restrain the growth of the market.

 

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