| According to the latest report by IMARC Group, titled, “Pressure Vessel Market Size: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, the global pressure vessel market exhibited XX growth during 2015-2020 and expects the market to grow at a CAGR of XX% during 2021-2026.
Pressure vessels refer to spherical or cylindrical-shaped containers that are used for storing high-pressure gases or liquids. Some common components of pressure vessels are distributor trays, catalyst support grids, baffles, demister pads, etc. Pressure vessels are commonly used as receivers for high-temperature and high-pressure physical and chemical processes. They help in removing redundant fabrication, lowering traceability and inspection, enhancing quality control, reducing the overall cost, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Pressure Vessel Market Trends:
The rising need for energy on account of elevating levels of urbanization is driving the pressure vessels market. Furthermore, the growing utilization of these vessels in the oil and gas industry for transportation purposes represents another growth-inducing factor. Moreover, pressure vessels are widely used in the chemical industry as they aid in the mixing and dividing different products. In addition to this, numerous manufacturers are introducing advanced pressure vessels, such as pressure boilers, that allow heat from an industrial process to be used or removed, which is bolstering the product demand. Additionally, various other factors, including the increasing requirement for cooling and heating equipment and extensive investments in the development of advanced product variants, are expected to fuel the market growth in the coming years.
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Global Pressure Vessel Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Abbott & Co (Newark) Ltd., Alloy Products Corp., Babcock & Wilcox Enterprises Inc., Bharat Heavy Electricals Limited, Doosan Heavy Industries & Construction, GEA Group Aktiengesellschaft, Halvorsen Company, IHI Corporation, Larsen & Toubro Limited, Mitsubishi Power Ltd., Pressure Vessels (India) and Samuel Son & Co.
The report has segmented the market on the basis on material, product and end use.
Breakup by Material:
Hastelloy
Titanium
Nickel and Nickel Alloys
Tantalum
Steel
Stainless Steel
Duplex Steel
Carbon Steel
Super Duplex Steel
Others
Others
Breakup by Product:
Boiler
Nuclear Reactor
Separator
Others
Breakup by End Use:
Chemicals and Petrochemicals
Oil and Gas
Power Generation
Others
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021- 2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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