IMARC Group, a leading market research company, has recently releases report titled “Pressure Vessel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The study provides a detailed analysis of the industry, including the global pressure vessel market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the pressure vessel market?
The global pressure vessel market size reached US$ 23.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028.
What is pressure vessel?
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.
Request for a sample copy of this report: https://www.imarcgroup.com/pressure-vessel-market/requestsample
What are the growth prospects and trends in the pressure vessel industry?
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 of different products. Furthermore, many manufacturers are introducing advanced pressure vessels, such as pressure boilers. that allow heat from an industrial process to be used or removed, which bolsters 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.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Who are the key players operating in the industry?
The report covers the major market players including:
- 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)
- Samuel Son & Co.
Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same 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 Group’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.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: [email protected]
Follow us on Twitter: @imarcglobal
About Author
