Pressure Vessels Market Size, Share & Trends Analysis Report By Material (Titanium, Steel), By Product (Boiler, Nuclear Reactor), By End-use (Chemicals & Petrochemicals, Power Generation), By Region, And Segment Forecasts, 2023 - 2030

Pressure Vessels Market Size, Share & Trends Analysis Report By Material (Titanium, Steel), By Product (Boiler, Nuclear Reactor), By End-use (Chemicals & Petrochemicals, Power Generation), By Region, And Segment Forecasts, 2023 - 2030


Pressure Vessels Market Growth & Trends


The global pressure vessels market size is expected to reach USD 75.82 billion by 2030 registering a CAGR of 3.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing demand for pressure vessels in chemical & petrochemical and oil & gas industries is expected to drive market growth.

Pressure vessels are containers used to hold high-pressure gases and liquids in various application industries including petrochemicals, chemicals, natural gas storage systems, nuclear reactor vessels, distillation towers, and hot water storage tanks. The ever-increasing need for energy is anticipated to propel the product demand in various application industries.

Increasing chemical demand from various end-use industries is encouraging new capital investment in chemical industry. The production capacity of chemicals is expected to increase on account of setting up of new chemical facilities. This is expected to augment the demand for various types of pressure vessels and storage tanks used in different chemical processes.

The global market is fragmented with major companies striving for market leadership. Key players focus on forward integration to maximize their profits and expand their regional presence across the globe. In addition, manufacturers are expected to tie up with engineering solution providers to deliver high-quality product solutions at affordable prices.

Pressure Vessels Market Report Highlights

  • The steel segment accounted for the largest revenue share of 30.2% in 2022 in the pressure vessels market owing to its characteristics, such as high chemical & corrosion resistance and ability to withstand sunlight, humid conditions, and high temperature
  • The boiler segment accounted for the largest revenue share of 59.6% in 2022 owing to the superior performance of boilers in various industrial processes
  • The chemical & petrochemical segment accounted for the largest revenue share of 39.6% in 2022. This dominance is attributed to the increased demand for chemicals and chemical products from various end-use applications.
  • Asia Pacific dominated the market and accounted for the largest revenue share of 37.2% in 2022. Moreover, the region is expected to expand at the fastest CAGR of 5.1% during the forecast period.
  • Europe accounted for the second-largest market share, in terms of revenue, in 2022. Factors such as product innovation and extensive R&D by key manufacturers are anticipated to bolster regional product demand for different industrial processes across various end-use applications.
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Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Material
1.1.2. Product
1.1.3. End-use
1.1.4. Regional scope
1.1.5. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Material outlook
2.2.2. Product outlook
2.2.3. End-use outlook
2.2.4. Regional outlook
2.3. Competitive Insights
Chapter 3. Pressure Vessels Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry opportunities & challenges
3.6. Pressure Vessels Market Analysis Tools
3.6.1. Industry Analysis - Porter’s Five Forces
3.6.1.1. Supplier power
3.6.1.2. Buyer power
3.6.1.3. Substitution threat
3.6.1.4. Threat of new entrant
3.6.1.5. Competitive rivalry
3.6.2. PESTEL Analysis
3.6.2.1. Political landscape
3.6.2.2. Technological landscape
3.6.2.3. Economic landscape
3.6.2.4. Social landscape
3.6.2.5. Legal landscape
Chapter 4. Supplier Portfolio Analysis
4.1. List of Suppliers
4.2. Kraljic Matrix
4.3. Sourcing Best Practices
4.4. Negotiation Strategies
Chapter 5. Pressure Vessels Market: Material Estimates & Trend Analysis
5.1. Pressure Vessels Market: Key Takeaways
5.2. Pressure Vessels Market: Material Movement & Market Share Analysis, 2022 & 2030
5.3. Titanium
5.3.1. Titanium market estimates and forecasts, 2018 to 2030 (USD Billion)
5.4. Nickel & Nickel Alloys
5.4.1. Nickel & nickel alloys market estimates and forecasts, 2018 to 2030 (USD Billion)
5.5. Tantalum
5.5.1. Tantalum market estimates and forecasts, 2018 to 2030 (USD Billion)
5.6. Steel
5.6.1. Steel market estimates and forecasts, 2018 to 2030 (USD Billion)
5.6.1.1. Carbon Steel
5.6.2. Carbon steel market estimates and forecasts, 2018 to 2030 (USD Billion)
5.6.2.1. Stainless Steel
5.6.3. Stainless steel market estimates and forecasts, 2018 to 2030 (USD Billion)
5.7. Others
5.7.1. Others market estimates and forecasts, 2018 to 2030 (USD Billion)
Chapter 6. Pressure Vessels Market: Product Estimates & Trend Analysis
6.1. Pressure Vessels Market: Key Takeaways
6.2. Pressure Vessels Market: Product Movement & Market Share Analysis, 2022 & 2030
6.3. Boiler
6.3.1. Boiler market estimates and forecasts, 2018 to 2030 (USD Billion)
6.4. Nuclear Reactor
6.4.1. Nuclear reactor market estimates and forecasts, 2018 to 2030 (USD Billion)
6.5. Separator
6.5.1. Separator market estimates and forecasts, 2018 to 2030 (USD Billion)
6.6. Others
6.6.1. Others market estimates and forecasts, 2018 to 2030 (USD Billion)
Chapter 7. Pressure Vessels Market: End-use Estimates & Trend Analysis
7.1. Pressure Vessels Market: Key Takeaways
7.2. Pressure Vessels Market: End-use Movement & Market Share Analysis, 2022 & 2030
7.3. Chemicals & Petrochemicals
7.3.1. Chemicals & petrochemicals market estimates and forecasts, 2018 to 2030 (USD Billion)
7.4. Oil & Gas
7.4.1. Oil & gas market estimates and forecasts, 2018 to 2030 (USD Billion)
7.5. Power Generation
7.5.1. Power generation market estimates and forecasts, 2018 to 2030 (USD Billion)
7.6. Others
7.6.1. Others market estimates and forecasts, 2018 to 2030 (USD Billion)
Chapter 8. Pressure Vessels Market: Regional Estimates & Trend Analysis
8.1. Regional Outlook
8.2. Pressure Vessels Market by Region: Key Takeaways
8.3. North America
8.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.3.2. U.S.
8.3.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.3.3. Canada
8.3.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.3.4. Mexico
8.3.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.4. Europe
8.4.1. Germany
8.4.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.4.2. UK
8.4.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.4.3. France
8.4.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.4.4. Italy
8.4.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.4.5. Russia
8.4.5.1. Russia estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.4.6. Spain
8.4.6.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.5. Asia Pacific
8.5.1. China
8.5.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.5.2. India
8.5.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.5.3. Japan
8.5.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.5.4. South Korea
8.5.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.5.5. Australia
8.5.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.5.6. Thailand
8.5.6.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.5.7. Indonesia
8.5.7.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.5.8. Malaysia
8.5.8.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.6. Central & South America
8.6.1. Brazil
8.6.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.6.2. Argentina
8.6.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.7. MEA
8.7.1. Saudi Arabia
8.7.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.7.2. UAE
8.7.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
8.7.3. South Africa
8.7.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
Chapter 9. Competitive Landscape
9.1. Recent Developments & Impact Analysis, By Key Market Participants
9.2. Market Participant Categorization
9.2.1. IHI Corporation
9.2.1.1. Company overview
9.2.1.2. Financial performance
9.2.1.3. Product benchmarking
9.2.1.4. Strategic initiatives
9.2.2. Babcock & Wilcox Enterprises, Inc.
9.2.2.1. Company overview
9.2.2.2. Financial performance
9.2.2.3. Product benchmarking
9.2.2.4. Strategic initiatives
9.2.3. Pressure Vessels (India)
9.2.3.1. Company overview
9.2.3.2. Financial performance
9.2.3.3. Product benchmarking
9.2.3.4. Strategic initiatives
9.2.4. MITSUBISHI HEAVY INDUSTRIES, LTD.
9.2.4.1. Company Overview
9.2.4.2. Financial performance
9.2.4.3. Product benchmarking
9.2.4.4. Strategic initiatives
9.2.5. Samuel, Son & Co.
9.2.5.1. Company overview
9.2.5.2. Financial performance
9.2.5.3. Product benchmarking
9.2.5.4. Strategic initiatives
9.2.6. Alloy Products Corp.
9.2.6.1. Company overview
9.2.6.2. Financial performance
9.2.6.3. Product benchmarking
9.2.6.4. Strategic initiatives
9.2.7. Abbott Pressure Vessels
9.2.7.1. Company overview
9.2.7.2. Financial performance
9.2.7.3. Product benchmarking
9.2.7.4. Strategic initiatives
9.2.8. Doosan Corporation
9.2.8.1. Company overview
9.2.8.2. Financial performance
9.2.8.3. Product benchmarking
9.2.8.4. Strategic initiatives
9.2.9. Bharat Heavy Electricals Limited
9.2.9.1. Company overview
9.2.9.2. Financial performance
9.2.9.3. Product benchmarking
9.2.9.4. Strategic initiatives
9.2.10. LARSEN & TOUBRO LIMITED
9.2.10.1. Company overview
9.2.10.2. Financial performance
9.2.10.3. Product benchmarking
9.2.10.4. Strategic initiatives
9.2.11. MERSEN PROPERTY
9.2.11.1. Company overview
9.2.11.2. Financial performance
9.2.11.3. Product benchmarking
9.2.11.4. Strategic initiatives
9.2.12. Xylem
9.2.12.1. Company overview
9.2.12.2. Financial performance
9.2.12.3. Product benchmarking
9.2.12.4. Strategic initiatives
9.2.13. Tinita Engg Pvt. Ltd
9.2.13.1. Company overview
9.2.13.2. Financial performance
9.2.13.3. Product benchmarking
9.2.13.4. Strategic initiatives
9.2.14. WCR Inc.
9.2.14.1. Company overview
9.2.14.2. Financial performance
9.2.14.3. Product benchmarking
9.2.14.4. Strategic initiatives

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