Global Pressure Vessels Market Growth 2023-2029

Global Pressure Vessels Market Growth 2023-2029

Pressure Vessels is a closed container designed to hold gases or liquids at a pressure substantially different from the ambient pressure.

The pressure differential is dangerous, and fatal accidents have occurred in the history of pressure vessel development and operation. Consequently, pressure vessel design, manufacture, and operation are regulated by engineering authorities backed by legislation. For these reasons, the definition of a pressure vessel varies from country to country, but involves parameters such as maximum safe operating pressure and temperature, and are engineered with a safety factor, corrosion allowance, minimum design temperature (for brittle fracture), and involve nondestructive testing, such as ultrasonic testing, radiography, and pressure tests, usually involving water, also known as a hydro-test, but could be pneumatically tested involving air or another gas.
LPI (LP Information)' newest research report, the “Pressure Vessels Industry Forecast” looks at past sales and reviews total world Pressure Vessels sales in 2022, providing a comprehensive analysis by region and market sector of projected Pressure Vessels sales for 2023 through 2029. With Pressure Vessels sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Pressure Vessels industry.
This Insight Report provides a comprehensive analysis of the global Pressure Vessels landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Pressure Vessels portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Pressure Vessels market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Pressure Vessels and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Pressure Vessels.
The global Pressure Vessels market size is projected to grow from US$ 101310 million in 2022 to US$ 100570 million in 2029; it is expected to grow at a CAGR of 100570 from 2023 to 2029.
Global Pressure Vessels key players include CB&I, IHI Corporation, Mitsubishi Heavy Industries, etc. Global top three manufacturers hold a share over 3%.
North America is the largest market, with a share over 30%, followed by Europe and Asia-Pacific, both have a share about 55 percent.
In terms of product, Titanium is the largest segment, with a share about 50%. And in terms of application, the largest application is Petrochemical, followed by Oil & Gas, Coal Chemical, Nuclear Power, Non-ferrous Metal, etc.
This report presents a comprehensive overview, market shares, and growth opportunities of Pressure Vessels market by product type, application, key manufacturers and key regions and countries.
Market Segmentation:
Segmentation by type
Titanium
Steel
Stainless Steel
Nickel Material
Zirconium
Other
Segmentation by application
Petrochemical
Oil & Gas
Coal Chemical
Nuclear Power
Non-ferrous Metal
Other
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
McDermott
IHI Corporation
Mitsubishi Heavy Industries
Hitachi Zosen
Morimatsu
L&T
Doosan
KNM
SPVG
Mersen
JSW
Belleli
Neuenhauser Kompressorenbau
ATB
Springs Fabrication
Hanson
THVOW
LS Group
Sunpower Group
CIMC Enric
CFHI
AVIC Liming Jinxi
Key Questions Addressed in this Report
What is the 10-year outlook for the global Pressure Vessels market?
What factors are driving Pressure Vessels market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Pressure Vessels market opportunities vary by end market size?
How does Pressure Vessels break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.