Pressure Vessels Market, By Material Type, By Product Type, By End-User, By Geography

Description

The pressure vessels market is estimated to be valued at USD 60.39 Bn in 2024 and is expected to reach USD 77.88 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 60.39 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	3.70%	2031 Value Projection:	US$ 77.88 Bn

Figure. Pressure Vessels Market Share (%), By Region 2024

Pressure vessels are enclosed structures designed to hold gases or liquids at a pressure substantially different from the ambient pressure. Some common examples include compressed natural gas cylinders, decompression chambers, autoclaves, steam generators, and gas cylinders. The global pressure vessels market has been growing steadily driven by the increasing demand from various end-use industries such as oil and gas, chemicals and petrochemicals, power generation, and food and beverage. Strict regulations regarding the installation and inspection of pressure vessels are also propelling the demand for high-quality, engineered pressure equipment. Innovation in materials and manufacturing techniques is further expanding the applications of pressure vessels.

Market Dynamics:

Rising energy demand across the world has been a key driver for the pressure vessels market. The oil and gas industry utilizes numerous pressure vessels for the exploration, production, refining, storage, and transportation of hydrocarbons. Growth in the global chemical and petrochemical industries is also fueling the installation of pressure reactors, columns, and other equipment. In the power sector, increasing focus on nuclear and solar energy will augment the demand for steam generators and solar thermal systems incorporating pressure vessels. The growing food and beverage industry particularly in developing nations is propelling the demand for autoclaves. Stringent safety regulations and quality standards continue to restrain the market growth to some extent by increasing production and installation costs. However, the development of fiber reinforced polymer composite vessels presents new profitable opportunities in the coming years.

Key Features of the Study:

This report provides in-depth analysis of the global pressure vessels market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global pressure vessels market based on the following parameters company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Doosan Corporation, IHI Corporation, Babcock & Wilcox Enterprises, Inc., Pressure Vessels (India), MITSUBISHI HEAVY INDUSTRIES, LTD., Samuel, Son & Co., Alloy Products Corp., Abbott Pressure Vessels , Bharat Heavy Electricals Limited, LARSEN & TOUBRO LIMITED, MERSEN PROPERTY, Xylem, Tinita Engg Pvt. Ltd, WCR Inc., Teknoflow Green Equipments Pvt. Ltd., Nano-Mag Technologies, Delpro Equipments Pvt. Ltd., Shreno Engineering Limited, Jaysons Machinery & Equipments Pvt.Ltd., and Varadraj Industries
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global pressure vessels market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global pressure vessels market

Detailed Segmentation-

By Material Type:
- Titanium
- Nickel & Nickel Alloys
- Tantalum
- Steel
- Others
By Product Type:
- Boiler
- Nuclear Reactor
- Separator
- Others
By End-User:
- Chemicals & Petrochemicals
- Oil & Gas
- Power Generation
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- Doosan Corporation
- IHI Corporation
- Babcock & Wilcox Enterprises, Inc.
- Pressure Vessels (India)
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Samuel, Son & Co.
- Alloy Products Corp.
- Abbott Pressure Vessels
- Bharat Heavy Electricals Limited
- LARSEN & TOUBRO LIMITED
- MERSEN PROPERTY
- Xylem
- Tinita Engg Pvt. Ltd
- WCR Inc.
- Teknoflow Green Equipments Pvt. Ltd.
- Nano-Mag Technologies
- Delpro Equipments Pvt. Ltd.
- Shreno Engineering Limited
- Jaysons Machinery & Equipments Pvt.Ltd.
- Varadraj Industries

Product Code: CMI7091

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Material Type
- Market Snippet, By Product Type
- Market Snippet, By End-User
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Mergers and Acquisitions

4. Global Pressure Vessels Market - Impact of Coronavirus (COVID-19) Pandemic

Overview
Factors Affecting the Global Pressure Vessels Market
Impact Analysis

5. Global Pressure Vessels Market, By Material Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Titanium
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Nickel & Nickel Alloys
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Tantalum
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Steel
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends

6. Global Pressure Vessels Market, By Product Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Boiler
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Nuclear Reactor
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Separator
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends

7. Global Pressure Vessels Market, By End-User, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Chemicals & Petrochemicals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Oil & Gas
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Power Generation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends

8. Global Pressure Vessels Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020-2031
North America
- Introduction
- Market Size and Forecast, By Material Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Product Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By End-User, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - U.S.
  - Canada
Latin America
- Introduction
- Market Size and Forecast, By Material Type, 2019 - 2031, (US$ Bn))
- Market Size and Forecast, By Product Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By End-User, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By Material Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Product Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By End-User, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Material Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Product Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By End-User, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Middle East & Africa
- Introduction
- Market Size and Forecast, By Material Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Product Type, 2019 - 2031 (US$ Bn)
- Market Size and Forecast, By End-User, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
  - GCC Countries
  - Israel
  - Rest of Middle East & Africa

9. Competitive Landscape

Market Share Analysis
Company Profiles
- Doosan Corporation
  - Company Overview
  - Material Type Portfolio
  - Recent Developments/Updates
- IHI Corporation
  - Company Overview
  - Material Type Portfolio
  - Recent Developments/Updates
- Babcock & Wilcox Enterprises, Inc.
  - Company Overview
  - Material Type Portfolio
  - Recent Developments/Updates
- Pressure Vessels (India)
  - Company Overview
  - Material Type Portfolio
  - Recent Developments/Updates
- MITSUBISHI HEAVY INDUSTRIES, LTD.
  - Company Overview
  - Material Type Portfolio
  - Recent Developments/Updates
- Samuel, Son & Co.
  - Company Overview
  - Material Type Portfolio
  - Recent Developments/Updates
- Alloy Products Corp.
  - Company Overview
  - Material Type Portfolio
  - Recent Developments/Updates
- Abbott Pressure Vessels
  - Company Overview
  - Material Type Portfolio
  - Recent Developments/Updates
- Bharat Heavy Electricals Limited
  - Company Overview
  - Material Type Portfolio
  - Recent Developments/Updates
- LARSEN & TOUBRO LIMITED
  - Company Overview
  - Material Type Portfolio
  - Recent Developments/Updates
- MERSEN PROPERTY
  - Company Overview
  - Material Type Portfolio
  - Recent Developments/Updates
- Xylem
  - Company Overview
  - Material Type Portfolio
  - Recent Developments/Updates
- Tinita Engg Pvt. Ltd
- WCR Inc.
- Teknoflow Green Equipments Pvt. Ltd.
- Nano-Mag Technologies
- Delpro Equipments Pvt. Ltd.
- Shreno Engineering Limited
- Jaysons Machinery & Equipments Pvt.Ltd.
- Varadraj Industries

10. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

11. Section

References
Research Methodology
About Us and Sales Contact
- Browse 25 market data tables* and 20 figures* on "Global Pressure Vessels Market" - Global forecast to 2031.