Market Overview:
The global pressure vessels market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for pressure vessels from various end-use industries, such as petrochemical, oil & gas, coal chemical, nuclear power and non-ferrous metal. In addition, the growing demand for titanium and other high-end materials in pressure vessels is also contributing to the growth of this market. However, volatility in raw material prices may restrain the growth of this market to some extent during the forecast period.
Product Definition:
A pressure vessel is a closed container designed to hold gases or liquids at a pressure different from the ambient pressure. The pressure differential is created by external mechanical means, such as pumps or compressors, or internally, as in the case of a boiler.
Titanium:
Titanium is a metal that is strong, lightweight and corrosion-resistant. It has the highest strength of all rare metals. Its high thermal conductivity makes it very popular in heat exchangers and boilers where stainless steel or copper would be used for piping or vessels.
Steel:
Steel is a metal and has various properties which make it suitable for use in pressure vessels. It can be cold-rolled steel or hot-dipped steel, depending on the application. Cold rolled steel finds greater application in household appliances such as refrigerators and washing machines while hot-dipped finds greater applications in automobiles, construction equipment, oil drilling platforms etc.
Application Insights:
Petrochemical emerged as the dominant application segment in 2017 and accounted for a revenue share of over 40.0% in 2017. The growth can be attributed to increasing demand for chemical products across the globe. Moreover, technological advancements and growing industrialization are likely to support industry expansion over the coming years.
The oil & gas segment is projected to witness significant growth over the forecast period owing to rising exploration activities coupled with an increase in production levels from existing fields across various regions including Middle East & Africa, Asia Pacific, North America and Europe.
Regional Analysis:
Asia Pacific was the leading revenue contributor in 2017 and is anticipated to witness a CAGR of XX% over the forecast period. The region has been witnessing rapid growth in construction spending, which is expected to have a positive impact on market demand over the coming years.
Country % Share of Total Market Size in 2016 China 45% India 23% Japan 19% South Korea 14% Taiwan 11%.
North America emerged as one of the prominent regional markets for pressure vessels with a share of 16.1%. Increasing oil & gas production coupled with growing shale gas reserves in U.S., Canada and Mexico is expected to be one of the major factors driving product demand over the next eight years.
Growth Factors:
- Increasing demand for pressure vessels from the oil and gas industry as a result of increasing exploration and production activities
- Rising demand for pressure vessels in the chemical processing industry to meet the growing needs of end-users
- Growing popularity of miniaturized pressure vessels in various applications
- Technological advancements in manufacturing processes that are resulting in improved quality and performance of pressure vessels
- Proliferation of new applications for pressure vessels across different industries
Scope Of The Report
Report Attributes
Report Details
Report Title
Pressure Vessels Market Research Report
By Type
Titanium, Steel, Stainless Steel, Nickel Material, Zirconium, Other
By Application
Petrochemical, Oil & Gas, Coal Chemical, Nuclear Power, Non-ferrous Metal, Other
By Companies
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
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Pressure Vessels Market Report Segments:
The global Pressure Vessels market is segmented on the basis of:
Types
Titanium, Steel, Stainless Steel, Nickel Material, Zirconium, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Petrochemical, Oil & Gas, Coal Chemical, Nuclear Power, Non-ferrous Metal, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- 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
Highlights of The Pressure Vessels Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Titanium
- Steel
- Stainless Steel
- Nickel Material
- Zirconium
- Other
- By Application:
- Petrochemical
- Oil & Gas
- Coal Chemical
- Nuclear Power
- Non-ferrous Metal
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Pressure Vessels Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A pressure vessel is a metal or plastic container, typically cylindrical in shape, used to store or transport pressurized gas or liquids.
Some of the major companies in the pressure vessels market are 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.
The pressure vessels market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Pressure Vessels Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Pressure Vessels Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Pressure Vessels Market - Supply Chain
4.5. Global Pressure Vessels Market Forecast
4.5.1. Pressure Vessels Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Pressure Vessels Market Size (000 Units) and Y-o-Y Growth
4.5.3. Pressure Vessels Market Absolute $ Opportunity
5. Global Pressure Vessels Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Pressure Vessels Market Size and Volume Forecast by Type
5.3.1. Titanium
5.3.2. Steel
5.3.3. Stainless Steel
5.3.4. Nickel Material
5.3.5. Zirconium
5.3.6. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Pressure Vessels Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Pressure Vessels Market Size and Volume Forecast by Application
6.3.1. Petrochemical
6.3.2. Oil & Gas
6.3.3. Coal Chemical
6.3.4. Nuclear Power
6.3.5. Non-ferrous Metal
6.3.6. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Pressure Vessels Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Pressure Vessels Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Pressure Vessels Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Pressure Vessels Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Pressure Vessels Demand Share Forecast, 2019-2026
9. North America Pressure Vessels Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Pressure Vessels Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Pressure Vessels Market Size and Volume Forecast by Application
9.4.1. Petrochemical
9.4.2. Oil & Gas
9.4.3. Coal Chemical
9.4.4. Nuclear Power
9.4.5. Non-ferrous Metal
9.4.6. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Pressure Vessels Market Size and Volume Forecast by Type
9.7.1. Titanium
9.7.2. Steel
9.7.3. Stainless Steel
9.7.4. Nickel Material
9.7.5. Zirconium
9.7.6. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Pressure Vessels Demand Share Forecast, 2019-2026
10. Latin America Pressure Vessels Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Pressure Vessels Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Pressure Vessels Market Size and Volume Forecast by Application
10.4.1. Petrochemical
10.4.2. Oil & Gas
10.4.3. Coal Chemical
10.4.4. Nuclear Power
10.4.5. Non-ferrous Metal
10.4.6. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Pressure Vessels Market Size and Volume Forecast by Type
10.7.1. Titanium
10.7.2. Steel
10.7.3. Stainless Steel
10.7.4. Nickel Material
10.7.5. Zirconium
10.7.6. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Pressure Vessels Demand Share Forecast, 2019-2026
11. Europe Pressure Vessels Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Pressure Vessels Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Pressure Vessels Market Size and Volume Forecast by Application
11.4.1. Petrochemical
11.4.2. Oil & Gas
11.4.3. Coal Chemical
11.4.4. Nuclear Power
11.4.5. Non-ferrous Metal
11.4.6. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Pressure Vessels Market Size and Volume Forecast by Type
11.7.1. Titanium
11.7.2. Steel
11.7.3. Stainless Steel
11.7.4. Nickel Material
11.7.5. Zirconium
11.7.6. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Pressure Vessels Demand Share, 2019-2026
12. Asia Pacific Pressure Vessels Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Pressure Vessels Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Pressure Vessels Market Size and Volume Forecast by Application
12.4.1. Petrochemical
12.4.2. Oil & Gas
12.4.3. Coal Chemical
12.4.4. Nuclear Power
12.4.5. Non-ferrous Metal
12.4.6. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Pressure Vessels Market Size and Volume Forecast by Type
12.7.1. Titanium
12.7.2. Steel
12.7.3. Stainless Steel
12.7.4. Nickel Material
12.7.5. Zirconium
12.7.6. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Pressure Vessels Demand Share, 2019-2026
13. Middle East & Africa Pressure Vessels Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Pressure Vessels Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Pressure Vessels Market Size and Volume Forecast by Application
13.4.1. Petrochemical
13.4.2. Oil & Gas
13.4.3. Coal Chemical
13.4.4. Nuclear Power
13.4.5. Non-ferrous Metal
13.4.6. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Pressure Vessels Market Size and Volume Forecast by Type
13.7.1. Titanium
13.7.2. Steel
13.7.3. Stainless Steel
13.7.4. Nickel Material
13.7.5. Zirconium
13.7.6. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Pressure Vessels Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Pressure Vessels Market: Market Share Analysis
14.2. Pressure Vessels Distributors and Customers
14.3. Pressure Vessels Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. McDermott
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. IHI Corporation
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Mitsubishi Heavy Industries
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Hitachi Zosen
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Morimatsu
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. L&T
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Doosan
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. KNM
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. SPVG
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Mersen
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. JSW
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Belleli
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Neuenhauser Kompressorenbau
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. ATB
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Springs Fabrication
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Hanson
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. THVOW
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. LS Group
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Sunpower Group
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. CIMC Enric
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
