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Keen Insight for Pressure Vessels Market – Global Forecast to 2026

Keen Insight for Pressure Vessels Market – Global Forecast to 2026

A pressure vessel is a mechanical device that is designed to store liquids or gases at a specific pressure in a closed container.  Pressure vessels are categorized into three main types horizontal, vertical, and spherical. Shell, head, nozzle, and support are the main components of a pressure vessel. Pressure vessels are widely used in many industrial applications, and they generally appear as industrial compressed air receivers and domestic hot water storage tanks. In addition, they find their applications in the hydraulic and pneumatic reservoir under pressure, rail vehicle airbrake reservoir, and in storage vessels for liquefied gases, such as ammonia, chlorine, and liquid petroleum gas (LPG).

Pressure Vessels Market Conspectus

Global Pressure Vessels Market Report demonstrated that Pressure Vessels market is poised to present surging growth during the predicted period from USD 4,057 million in 2019 to reach USD 11,396 million by 2026 with a CAGR of 15.9%. Global economic development, government regulations adjustment, related industry dynamics, industrial upgrading, and competition among market’s participators are some of the key factors that influence the Pressure Vessels market development. A distinctive and comprehensive picture of Pressure Vessels is embodied in the report.

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Major Participators Landscape

The global pressure vessels market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. It is observed that these suppliers are increasingly competing with each other based on factors such as quality, characteristics, functions, and services. Due to product expansion, technological innovation and mergers and acquisitions, the market competition environment is intensifying.

Key market players covered in the report such as Samuel Pressure Vessel Group, Doosan Heavy Industries & Construction, Mitsubishi Heavy Industries, Ltd., Bharat Heavy Electricals Limited, Larsen & Toubro Limited, Westinghouse Electric Company LLC., General Electric, Halvorsen, IHI Corporation, Pressure Vessels, etc.

Market Drivers Abstract

Rising demand for water and wastewater treatment

Huge electricity demand and industrialization in different regions

Increasing upstream & downstream activities in the oil & gas industry

Market Challenges Abstract

Unpredictability in oil and gas prices

Market Trends Abstract

Development in petrochemical and chemical industry in India

Pressure Vessels Type Abstract

Based on type, the Pressure Vessels can be bifurcated into Natural Gas Pressure Vessels, Oil Pressure Vessels, Special Gas Pressure Vessels (Hydrogen, nitrogen etc.), and Other.

Pressure Vessels Application Abstract

Based on application, the Pressure Vessels market is divided into Low Temperature and Cryogenic Storage Systems, Storage Terminals for Bulk Liquids and Refrigerated Products, Liquefied Natural Gas Storage, Water Storage, and Others.

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Key Regions Overview

The report covers the major countries analysis in North America, Europe, Asia Pacific, and the rest of the world. Furthermore, policy mobilization, social dynamics, fashion trends, and economic development in these countries are also taken into consideration.

In terms of production value, Asia-Pacific is the largest market with a proportion of 40.66%, followed by Europe and North America, accounting for 27.98% and 26.63% respectively. Asia-Pacific accounted for the major share of the Pressure Vessel Market Size in 2018 and will continue to lead in the forecast period.  China and India are the largest markets in the region, due to increasing demand for electricity and power generation capacity additions. The factors that could be attributed to the Asia-Pacific growth include growing demand for power generation and electricity capacity embellishments, growing focus on renewable power generation and transformation of current power organization. In addition, countries such as South Korea, Japan, and Malaysia also have high-growth prospects in the Asia-Pacific pressure vessel market.

Table of Content

1 Report Overview

1.1  Product Definition and Scope

1.2  PEST (Political, Economic, Social and Technological) Analysis of Pressure Vessels Market

2 Market Trends and Competitive Landscape

3 Segmentation of Pressure Vessels Market by Types

4 Segmentation of Pressure Vessels Market by End-Users

5 Market Analysis by Major Regions

6 Product Commodity of Pressure Vessels Market in Major Countries

7 North America Pressure Vessels Landscape Analysis

8 Europe Pressure Vessels Landscape Analysis

9 Asia Pacific Pressure Vessels Landscape Analysis

10 Latin America, Middle East & Africa Pressure Vessels Landscape Analysis  

11 Major Players Profile

11.1 Samuel Pressure Vessel Group

11.1.1 Samuel Pressure Vessel Group Company Profile and Recent Development

11.1.2 Market Performance

11.1.3 Product and Service Introduction

11.2 Doosan Heavy Industries & Construction

11.3 Mitsubishi Heavy Industries, Ltd.

11.4 Bharat Heavy Electricals Limited

11.5 Larsen & Toubro Limited

11.6 Westinghouse Electric Company LLC.

11.7 General Electric

11.8 Halvorsen

11.9 IHI Corporation

11.10 Pressure Vessels

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Target Audience:

Pressure Vessels manufacturers

Distributors and resellers of Pressure Vessels

Pressure Vessels industry associations

Product managers, Pressure Vessels industry administrator, C-level executives of the industries

Government agencies and NGOs

Market Research and consulting firms

Small and Medium-sized Enterprises (SMEs)

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