- Size, Trend, Share, Opportunity Analysis, and Forecast, 2014-2025
Pressure vessels are ergonomically designed to enclose gases or liquids at a pressure substantially different from the ambient pressure. Pressure vessels can be of almost any shape, but cylinder and cone shapes are usually employed for industrial applications. In industries, pressure vessels are used as compressed air receivers and domestic hot water storage tanks. Other applications of pressure vessels are diving cylinders, distillation towers, recompression chambers, autoclaves, pressure reactors, nuclear reactor vessels, vessels in oil refineries & petrochemical plants, submarine & space ship habitats, hydraulic reservoirs, pneumatic reservoirs, and storage vessels for LPG. They form an integral part of the industry infrastructure for safe handling of gases and liquids. The safety valves and parameters of pressure vessels are different in different regions as per the regulations and their applications. The global pressure vessel market is expected to grow at a CAGR of 6.5% from 2017 to 2025.
The global pressure vessel market is segmented into types, material, end-user industry, and geography. Based on type, the market is divided into boilers, nuclear reactors, separators, and others. Based on material, it is categorized into steel alloys, other alloys, and composites. By end-user industry, the market is classified into chemicals, oil & gas, power, and others. Geographic breakdown and deep analysis of each of the aforesaid segments have resulted in the following regions: North America, Europe, Asia-Pacific, and LAMEA.
The top players in the global pressure vessel market include Abbott, Aeron Composite Pvt. Ltd., Babcock and Wilcox Enterprises Inc., Barton Firtop Engineering Co., Ltd, Bharat Heavy Electricals Ltd., Doosan Heavy Industries & Construction, Larsen & Toubro Ltd., Mitsubishi Heavy Industries, Ltd., Pressure Vessels India, and Samuel Pressure Vessels.
By End-user Industry
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