Pressure Vessel Market- A Global Strategic Market Report
According to the report added by Progressive Markets, the global Pressure Vessel Market is anticipated to exhibit a CAGR of 6.5% during the period 2017-2025. The detailed study, titled Global Pressure Vessel Market- Size, Trend, Share, Opportunity Analysis, and Forecast, 2014-2025 , presents a comprehensive analysis of the top market factors, their impact analysis, along with the pressure vessel market trends. Data presented in the report is acquired from extensive research of the market, carried out by research analysts with inputs from core industry experts.
Pressure vessels find applications in several industries, ranging from the mining and oil refineries to the nuclear power plants, aerospace, nuclear power plants, and the railroad industry. These vessels are widely used to store fluids under pressure, internal or external. The fluids in the closed container are held at a pressure significantly higher or lower from the atmospheric pressure. Cylindrical and conical pressure vessels are preferred over spherical vessels owing to the difficulty in manufacturing spherical objects. These containers are used as water storage tanks as well as compressed air receivers. Distillation towers, autoclaves, diving cylinders, recompression chambers, storage vessels for LPG pressure reactors, vessels in oil refineries & petrochemical plants, submarine & space ship habitats, nuclear reactor vessels, pneumatic reservoirs, and hydraulic reservoirs are some of the other applications of pressure vessels. Inflammable and high-pressure gases and liquids can be safely stored for industrial applications. The parameters of pressure vessels and safety walls vary according to the region and its applications.
Drivers & Restraints:
Numerous factors play a vital role in the overall growth and development of the pressure vessel market. The rapid growth of the market can be attributed to the robust expansion of the chemical industry in the emerging countries, thus fueling the need for reliable pressure vessels. The rise in capacity of power generation, across the globe, also propels the growth of the market. However, the slowdown of the mining industry and the declining state of the upstream oil & gas industry is expected to restrict the growth of the market. The pressure vessel industry offers several opportunities for the market players to grow by reaping large benefits.
Pressure Vessel Market Key Segments:The global pressure vessel industry is segmented based on the type, material, end-user industry, and the geography. Boilers, nuclear reactors, and separators are some of the types of pressure vessels. Based on the material, the market is classified as steel alloys, other alloys, and composites. The end-user industries include oil & gas, chemicals, power, and others. The presence of the market is analyzed in the regions of Asia-Pacific, Europe, North America, and LAMEA. Global pressure vessel market share analysis is provided for each of the market segments.
- Nuclear Reactors
- Steel Alloys
- Other Alloys
By End-user Industry
- Oil & Gas
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- North America
- Saudi Arabia
- South Africa
- Rest of LAMEA
The industry displays a competitive landscape with a few market players in the forefront, that contribute to the growth of the pressure vessel market size. Leading market players profiled in the pressure vessel market analysis report include Babcock and Wilcox Enterprises Inc., Aeron Composite Pvt. Ltd., Abbott, Barton Firtop Engineering Co., Ltd, Doosan Heavy Industries & Construction, Samuel Pressure Vessels, Pressure Vessels India, Bharat Heavy Electricals Ltd., Larsen & Toubro Ltd., and Mitsubishi Heavy Industries, Ltd. Information about the company overview, financial & business segments, recent developments, and the winning strategies adopted by the leading market players, enable the entry-level organizations to gain an edge over their competitors and expand their reach in the global market.
Key Benefits of the Report
The pressure vessel market report presents a complete analysis of the global market and highlights the current and emerging market trends. Quantitative and qualitative analysis of the current market identifies the most lucrative opportunities, in terms of growth and revenue. The report also divulges information about the research methodology along with the market scope and definitions. The global pressure vessel market forecast is based on the trends analysis and is based on extensive primary and secondary research of the industry. Vital pressure vessel industry statistics, figures and tables included in the report add credibility to the information provided. Elaborate figures and tables illustrate the segment-wise pressure vessel market value for the analysis period. This report is a perfect tool for organizations, stakeholders, and investors as it provides a critical insight and assists them in evaluating the potential and the attractiveness of the market. The pressure vessel market outlook assists the market players in formulating strategic business moves and gain maximum returns on their investments.