Pressure Vessel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Pressure Vessel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028


The global pressure vessel market size reached US$ 23.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.34% during 2022-2028.

Pressure vessels are spherical or cylindrical containers used to store high-pressure gases or liquids. They comprise components, such as distributor trays, catalyst support grids, baffles, and de-mister pads. At present, the production of pressure vessels is inspected under the American Society of Mechanical Engineers (ASME) Boiler and Pressure Vessel Code. These standards aid in eliminating redundant fabrication, reducing traceability and inspection, improving quality control, and minimizing the overall cost.

Pressure Vessel Market Trends:
A considerable rise in the need for energy around the world on account of rapid urbanization and increasing reliance on smart devices represents one of the key factors strengthening the growth of the market. Pressure vessels are widely utilized as receivers wherein physical and chemical processes undertake at high temperatures and pressures. As a result, there is a significant rise in the employment of these vessels in the oil and gas industry across the globe. Moreover, pressure vessels are adopted in the chemical industry worldwide as they assist in combining, dividing, and removing directions of an existing product. They also offer benefits, such as resistance from cross-contamination and corrosion. Furthermore, leading players are introducing advanced pressure vessels, such as pressure boilers. This, in confluence with the growing usage of supercritical power generation technology, is creating a favorable market outlook. Besides this, the escalating demand for customized vessels is offering lucrative growth opportunities to market players across the globe. Some of the other major factors, including the thriving chemical and petrochemical industry, the increasing requirement for cooling and heating equipment, and extensive investments in exploration and production activities by leading oil and gas companies, are anticipated to drive the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global pressure vessel market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material, product and end use.

Breakup by Material:

Hastelloy
Titanium
Nickel and Nickel Alloys
Tantalum
Steel
Stainless Steel
Duplex Steel
Carbon Steel
Super Duplex Steel
Others
Others

Breakup by Product:

Boiler
Nuclear Reactor
Separator
Others

Breakup by End Use:

Chemicals and Petrochemicals
Oil and Gas
Power Generation
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott & Co (Newark) Ltd., Alloy Products Corp., Babcock & Wilcox Enterprises Inc., Bharat Heavy Electricals Limited, Doosan Heavy Industries & Construction, GEA Group Aktiengesellschaft, Halvorsen Company, IHI Corporation, Larsen & Toubro Limited, Mitsubishi Power Ltd., Pressure Vessels (India) and Samuel Son & Co.

Key Questions Answered in This Report

1. How big is the global pressure vessel market?
2. What is the expected growth rate of the global pressure vessel market during 2023-2028?
3. What are the key factors driving the global pressure vessel market?
4. What has been the impact of COVID-19 on the global pressure vessel market?
5. What is the breakup of the global pressure vessel market based on the material?
6. What is the breakup of the global pressure vessel market based on the product?
7. What is the breakup of the global pressure vessel market based on the end use?
8. What are the key regions in the global pressure vessel market?
9. Who are the key players/companies in the global pressure vessel market?


1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Pressure Vessel Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Material
6.1 Hastelloy
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Titanium
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Nickel & Nickel Alloys
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Tantalum
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Steel
6.5.1 Market Trends
6.5.2 Key Segments
6.5.2.1 Stainless Steel
6.5.2.2 Duplex Steel
6.5.2.3 Carbon Steel
6.5.2.4 Super Duplex Steel
6.5.2.5 Others
6.5.3 Market Forecast
6.6 Others
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by Product
7.1 Boiler
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Nuclear Reactor
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Separator
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by End Use
8.1 Chemicals and Petrochemicals
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Oil and Gas
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Power Generation
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Abbott & Co (Newark) Ltd.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 Alloy Products Corp.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Babcock & Wilcox Enterprises Inc.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.4 Bharat Heavy Electricals Limited
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Doosan Heavy Industries & Construction
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 GEA Group Aktiengesellschaft
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Halvorsen Company
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 IHI Corporation
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Larsen & Toubro Limited
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Mitsubishi Power Ltd.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Pressure Vessels (India)
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Samuel Son & Co.
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio

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