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PUBLISHER: IMARC | PRODUCT CODE: 1390457
PUBLISHER: IMARC | PRODUCT CODE: 1390457
Pressure Vessel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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PAGES: 142 Pages
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Abstract
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 4.34% during 2022-2028.
Pressure vessels are spherical or cylindrical containers used to store high-pressure gases or liquids. They comprise components, such as distributor trays, catalyst support grids, baffles, and de-mister pads. At present, the production of pressure vessels is inspected under the American Society of Mechanical Engineers (ASME) Boiler and Pressure Vessel Code. These standards aid in eliminating redundant fabrication, reducing traceability and inspection, improving quality control, and minimizing the overall cost.
Pressure Vessel Market Trends:
A considerable rise in the need for energy around the world on account of rapid urbanization and increasing reliance on smart devices represents one of the key factors strengthening the growth of the market. Pressure vessels are widely utilized as receivers wherein physical and chemical processes undertake at high temperatures and pressures. As a result, there is a significant rise in the employment of these vessels in the oil and gas industry across the globe. Moreover, pressure vessels are adopted in the chemical industry worldwide as they assist in combining, dividing, and removing directions of an existing product. They also offer benefits, such as resistance from cross-contamination and corrosion. Furthermore, leading players are introducing advanced pressure vessels, such as pressure boilers. This, in confluence with the growing usage of supercritical power generation technology, is creating a favorable market outlook. Besides this, the escalating demand for customized vessels is offering lucrative growth opportunities to market players across the globe. Some of the other major factors, including the thriving chemical and petrochemical industry, the increasing requirement for cooling and heating equipment, and extensive investments in exploration and production activities by leading oil and gas companies, are anticipated to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global pressure vessel market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based 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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Key Questions Answered in This Report
- 1. How big is the global pressure vessel market?
- 2. What is the expected growth rate of the global pressure vessel market during 2023-2028?
- 3. What are the key factors driving the global pressure vessel market?
- 4. What has been the impact of COVID-19 on the global pressure vessel market?
- 5. What is the breakup of the global pressure vessel market based on the material?
- 6. What is the breakup of the global pressure vessel market based on the product?
- 7. What is the breakup of the global pressure vessel market based on the end use?
- 8. What are the key regions in the global pressure vessel market?
- 9. Who are the key players/companies in the global pressure vessel market?
Product Code: SR112023A4177
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Pressure Vessel Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Material
- 6.1 Hastelloy
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Titanium
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Nickel & Nickel Alloys
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Tantalum
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Steel
- 6.5.1 Market Trends
- 6.5.2 Key Segments
- 6.5.2.1 Stainless Steel
- 6.5.2.2 Duplex Steel
- 6.5.2.3 Carbon Steel
- 6.5.2.4 Super Duplex Steel
- 6.5.2.5 Others
- 6.5.3 Market Forecast
- 6.6 Others
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
7 Market Breakup by Product
- 7.1 Boiler
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Nuclear Reactor
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Separator
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by End Use
- 8.1 Chemicals and Petrochemicals
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Oil and Gas
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Power Generation
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Others
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Abbott & Co (Newark) Ltd.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 Alloy Products Corp.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Babcock & Wilcox Enterprises Inc.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.4 Bharat Heavy Electricals Limited
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Doosan Heavy Industries & Construction
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 GEA Group Aktiengesellschaft
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Halvorsen Company
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 IHI Corporation
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Larsen & Toubro Limited
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 Mitsubishi Power Ltd.
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Pressure Vessels (India)
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Samuel Son & Co.
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.1 Abbott & Co (Newark) Ltd.
Product Code: SR112023A4177
List of Figures
- Figure 1: Global: Pressure Vessel Market: Major Drivers and Challenges
- Figure 2: Global: Pressure Vessel Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Pressure Vessel Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Pressure Vessel Market: Breakup by Material (in %), 2022
- Figure 5: Global: Pressure Vessel Market: Breakup by Product (in %), 2022
- Figure 6: Global: Pressure Vessel Market: Breakup by End Use (in %), 2022
- Figure 7: Global: Pressure Vessel Market: Breakup by Region (in %), 2022
- Figure 8: Global: Pressure Vessel (Hastelloy) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Pressure Vessel (Hastelloy) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Pressure Vessel (Titanium) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Pressure Vessel (Titanium) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Pressure Vessel (Nickel and Nickel Alloys) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Pressure Vessel (Nickel and Nickel Alloys) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Pressure Vessel (Tantalum) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Pressure Vessel (Tantalum) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Pressure Vessel (Steel) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Pressure Vessel (Steel) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Pressure Vessel (Other Materials) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Pressure Vessel (Other Materials) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Pressure Vessel (Boiler) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Pressure Vessel (Boiler) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Pressure Vessel (Nuclear Reactor) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Pressure Vessel (Nuclear Reactor) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Pressure Vessel (Separator) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Pressure Vessel (Separator) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Pressure Vessel (Other Products) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Pressure Vessel (Other Products) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: Pressure Vessel (Chemicals and Petrochemicals) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: Pressure Vessel (Chemicals and Petrochemicals) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Global: Pressure Vessel (Oil and Gas) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Global: Pressure Vessel (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Global: Pressure Vessel (Power Generation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Global: Pressure Vessel (Power Generation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: Global: Pressure Vessel (Other End Uses) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: Global: Pressure Vessel (Other End Uses) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: North America: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: North America: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: United States: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: United States: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: Canada: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: Canada: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Asia-Pacific: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Asia-Pacific: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: China: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: China: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Japan: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Japan: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: India: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: India: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: South Korea: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: South Korea: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Australia: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Australia: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Indonesia: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Indonesia: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Others: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Others: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Europe: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Europe: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Germany: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Germany: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: France: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: France: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: United Kingdom: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: United Kingdom: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Italy: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Italy: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Spain: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Spain: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Russia: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Russia: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Others: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Others: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Latin America: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Latin America: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Brazil: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Brazil: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Mexico: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 79: Mexico: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 80: Others: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 81: Others: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 82: Middle East and Africa: Pressure Vessel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 83: Middle East and Africa: Pressure Vessel Market: Breakup by Country (in %), 2022
- Figure 84: Middle East and Africa: Pressure Vessel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 85: Global: Pressure Vessel Industry: SWOT Analysis
- Figure 86: Global: Pressure Vessel Industry: Value Chain Analysis
- Figure 87: Global: Pressure Vessel Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Pressure Vessel Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Pressure Vessel Market Forecast: Breakup by Material (in Million US$), 2023-2028
- Table 3: Global: Pressure Vessel Market Forecast: Breakup by Product (in Million US$), 2023-2028
- Table 4: Global: Pressure Vessel Market Forecast: Breakup by End Use (in Million US$), 2023-2028
- Table 5: Global: Pressure Vessel Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Pressure Vessel Market: Competitive Structure
- Table 7: Global: Pressure Vessel Market: Key Players
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