Pressure Vessel Global Market Insights 2025, Analysis and Forecast to 2030, by Market Participants, Regions, Technology, Application

Pressure Vessel Market Summary


Pressure Vessels are robust containers designed to hold gases or liquids at high pressures, widely used in chemicals, oil and gas, power generation, water and wastewater treatment, and other industrial applications. Constructed from materials like steel or alloys, they ensure safety and efficiency in handling volatile substances. The Pressure Vessel industry is a critical segment of the global industrial equipment market, characterized by its reliance on advanced engineering, compliance with stringent safety standards, and adaptability to diverse industrial processes. The market is driven by demand from energy and chemical sectors, industrial expansion, and infrastructure development, particularly in emerging economies. However, it faces challenges from high fabrication costs, competition from alternative storage solutions, and raw material price volatility, shaping its growth trajectory in a competitive landscape.

Market Size and Growth Forecast
The global Pressure Vessel market is estimated at approximately USD 56.5 to 62.3 billion in 2025, with a projected compound annual growth rate (CAGR) of 2.8% to 4.4% from 2025 to 2030, reaching USD 66.0 to 78.0 billion by 2030. This growth reflects steady demand from key industries, supported by energy and industrial trends, though moderated by cost and regulatory pressures.

Regional Analysis
North America: Holding 25-30% of the market share, North America grows at 2-3%. The United States leads with demand in oil and gas and power generation, driven by shale energy production. Trends focus on safety upgrades and energy efficiency.
Europe: Accounting for 20-25% of the market share, Europe grows at 1.5-2.5%. Germany and the UK emphasize chemical processing and power, with trends highlighting EU safety standards and sustainability, though growth is tempered by mature markets.
Asia Pacific: Representing 35-40% of the market share, this region grows at 4-5%. China and India dominate due to rapid industrialization and chemical growth, with Japan focusing on precision applications. Trends emphasize cost-effective production and infrastructure expansion.
Rest of the World: With a 10-15% share, this region grows at 3-4%. Brazil and Saudi Arabia see uptake in oil and gas, driven by energy needs. Trends focus on durable, affordable vessels.

Application Analysis
Chemicals: Expected to grow at 3-4%, dominant application (38% share). Trends focus on handling aggressive substances.
Oil & Gas: Projected at 2.5-3.5%, key use (31% share). Trends emphasize safety in extraction and refining.
Power Generation: Anticipated at 2-3%, significant use (24% share). Trends target efficiency in steam systems.
Water and Wastewater: Expected to grow at 3-4%, niche use (2% share). Trends focus on treatment upgrades.
Others: Projected at 2-3%, covering minor uses. Trends explore industrial versatility.

Key Market Players
IHI: A leader in high-pressure vessel solutions.
Morimatsu: Specializes in durable industrial vessels.
MITSUBISHI HEAVY INDUSTRIES: Offers advanced vessel designs.
Belleli Energy: Provides robust pressure vessels.
Brembana&Rolle: Focuses on customized industrial solutions.
These firms compete on safety, durability, and innovation.

Porter's Five Forces Analysis
Threat of New Entrants: Medium; high capital and regulatory barriers deter entry, though emerging markets offer opportunities.
Threat of Substitutes: Medium; storage tanks compete, but pressure vessels’ high-pressure capability sustains demand.
Bargaining Power of Buyers: High; large industrial clients negotiate pricing and quality.
Bargaining Power of Suppliers: Medium; reliance on steel gives leverage, offset by sourcing diversity.
Competitive Rivalry: High; players compete on safety, cost, and customization.

Market Opportunities and Challenges
Opportunities:
-Chemical and oil & gas growth in Asia Pacific boosts demand.
-Power generation upgrades drive adoption.
-Innovations in safety and efficiency enhance market appeal.

Challenges:
-High fabrication costs limit adoption in emerging markets.
-Competition from alternative storage solutions challenges market share.
-Raw material price volatility affects profitability.