Pressure Vessel - Global Market Outlook (2019-2027)

According to Stratistics MRC, the Global Pressure Vessel Market is accounted for $40.85 billion in 2019 and is expected to reach $67.60 billion by 2027 growing at a CAGR of 6.5% during the forecast period. Increasing refinery and chemical plant construction activities, the increasing requirement for energy and growing adoption of supercritical and ultra-supercritical power generation technology are some of the factors propelling the growth of the market. However, higher capital requirements and maintenance costs are hampering the growth of the market.

Pressure Vessels are enclosed cylindrical structure used by various industries that hold liquids and gases at high pressure. Pressure vessels are manufactured according to standard regulations and their applications. Designing of pressure vessel requires corrosion allowance, maximum safe operating pressure and temperature, minimum design temperature and safety factor. 

Based on the end-user, the chemicals & petrochemicals segment is anticipated to hold considerable market share during the forecast period owing to experiencing heightened demand from several construction projects in the developing region and increasing consumption of goods such as fertilizers & agrochemical products, plastics & human-made fibers, and research laboratory chemicals. By geography, Asia Pacific is expected to grow at a significant market share during the forecast period due to rapid expansion of the power sector, rising installation of nuclear powerhouses, and rapidly expanding oil & gas and chemical sectors.

Some of the key players profiled in the Pressure Vessel Market include Bharat Heavy Electricals Limited, Westinghouse Electric Company, Tinita Engineering Pvt. Ltd, Samuel, Son & Co., Pressure Vessels, Mitsubishi Hitachi Power Systems, Larsen & Toubro, Kelvion Holdings GmbH, IHI Corporation, Hitachi Zosen, Dongfang Turbine Co., Ltd., General Electric, Doosan Mecatec, Babcock & Wilcox Enterprises, and Halvorsen Company.     

Types Covered:
• Separators 
• Nuclear Reactor 
• Boilers 
• Other Types 

Heat Sources Covered:
• Unfired 
• Fired    

Construction Types Covered:
• CNG Type I 
• CNG Type II 
• CNG Type III 
• CNG Type IV  

Materials Covered:
• Tantalum 
• Nickel & Nickel Alloys 
• Titanium 
• Hastelloy
• Zirconium 
• Steel Alloys 
• Composites 
• Other Materials 

Applications Covered:
• Storage Vessel  
• Processing Vessel  
• Gas Storage  
• Compressed Natural Gas Vehicles 
• Oil Pressure Vessels
• Special Gas Pressure Vessels  

End Users Covered:
• Power Generation  
• Oil & Gas  
• Fertilizers  
• Chemicals & Petrochemicals  
• Other End Users  

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances