Pressure Vessels Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Material, By Product, By End Use, By Region, and By Competition 2020-2030F

Description

The Global Pressure Vessels Market, valued at USD 56.00 Billion in 2024, is projected to experience a CAGR of 5% to reach USD 75.05 Billion by 2030. Pressure vessels are sealed containers engineered to hold gases or liquids at pressures significantly different from ambient conditions, serving critical functions across diverse industrial sectors. The market's expansion is primarily supported by the increasing global demand for energy, fueling requirements in oil and gas processing, power generation, and renewable energy applications.

Market Overview
Forecast Period	2026-2030
Market Size 2024	USD 56.00 Billion
Market Size 2030	USD 75.05 Billion
CAGR 2025-2030	5%
Fastest Growing Segment	Steel
Largest Market	Asia Pacific

Key Market Drivers

The global pressure vessels market is significantly propelled by stringent global safety regulations and compliance requirements. These mandates compel industries to adhere to rigorous design, manufacturing, and operational standards for pressure containment solutions, necessitating ongoing investment in modern, compliant equipment to ensure operational safety across diverse sectors. For example, according to the Association of Equipment Manufacturers (AEM), in 2024, regulations for industrial machinery manufacturers increased by 68% since 2017, totaling 20,805 regulations. This surge in regulatory oversight directly influences demand for certified pressure vessels built to higher specifications, often leading to replacement cycles for older, non-compliant units.

Key Market Challenges

The high initial manufacturing and installation costs present a notable impediment to the growth of the global pressure vessels market. These expenses are driven by the necessity of employing costly raw materials, including specialized alloys and high-grade steels, coupled with the intricate engineering and fabrication processes required to meet stringent safety and performance standards. The substantial capital outlay for material procurement and complex manufacturing techniques, such as advanced welding and non-destructive testing, often deters new investments and lengthens project timelines for industrial endeavors.

Key Market Trends

The rise of smart pressure vessels, integrated with Internet of Things (IoT) sensors, is a significant trend, allowing real-time data collection on operational parameters such as pressure and temperature. This continuous monitoring enhances safety by enabling proactive identification of anomalies, reducing failures and minimizing unscheduled downtime. Operators obtain immediate insights into vessel health, optimizing performance and maintenance schedules. A November 2023 Eseye survey revealed 86% of manufacturing respondents planned to expand their IoT systems within 18 months, with 3% aiming to double connected devices. This digital integration supports compliance with safety regulations through enhanced data logging and traceability.

Key Market Players

IHI Corporation
Babcock & Wilcox Enterprises, Inc.
Pressure Vessels (India)
Mitsubishi Heavy Industries, Ltd.
Samuel, Son & Co.
Alloy Products Corp.
Abbott & Co (Newark) Ltd
Doosan Corporation
Bharat Heavy Electricals Limited (BHEL)
Larsen & Toubro Limited

Report Scope:

In this report, the Global Pressure Vessels Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Pressure Vessels Market, By Material:

Titanium
Steel

Pressure Vessels Market, By Product:

Boiler
Nuclear Reactor

Pressure Vessels Market, By End Use:

Chemicals & Petrochemicals
Power Generation

Pressure Vessels Market, By Region:

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Pressure Vessels Market.

Available Customizations:

Global Pressure Vessels Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Pressure Vessels Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Material (Titanium, Steel)
- 5.2.2. By Product (Boiler, Nuclear Reactor)
- 5.2.3. By End Use (Chemicals & Petrochemicals, Power Generation)
- 5.2.4. By Region
- 5.2.5. By Company (2024)
5.3. Market Map

6. North America Pressure Vessels Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Material
- 6.2.2. By Product
- 6.2.3. By End Use
- 6.2.4. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Pressure Vessels Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Material
    - 6.3.1.2.2. By Product
    - 6.3.1.2.3. By End Use
- 6.3.2. Canada Pressure Vessels Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Material
    - 6.3.2.2.2. By Product
    - 6.3.2.2.3. By End Use
- 6.3.3. Mexico Pressure Vessels Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Material
    - 6.3.3.2.2. By Product
    - 6.3.3.2.3. By End Use

7. Europe Pressure Vessels Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Material
- 7.2.2. By Product
- 7.2.3. By End Use
- 7.2.4. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Pressure Vessels Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Material
    - 7.3.1.2.2. By Product
    - 7.3.1.2.3. By End Use
- 7.3.2. France Pressure Vessels Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Material
    - 7.3.2.2.2. By Product
    - 7.3.2.2.3. By End Use
- 7.3.3. United Kingdom Pressure Vessels Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Material
    - 7.3.3.2.2. By Product
    - 7.3.3.2.3. By End Use
- 7.3.4. Italy Pressure Vessels Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Material
    - 7.3.4.2.2. By Product
    - 7.3.4.2.3. By End Use
- 7.3.5. Spain Pressure Vessels Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Material
    - 7.3.5.2.2. By Product
    - 7.3.5.2.3. By End Use

8. Asia Pacific Pressure Vessels Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Material
- 8.2.2. By Product
- 8.2.3. By End Use
- 8.2.4. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Pressure Vessels Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Material
    - 8.3.1.2.2. By Product
    - 8.3.1.2.3. By End Use
- 8.3.2. India Pressure Vessels Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Material
    - 8.3.2.2.2. By Product
    - 8.3.2.2.3. By End Use
- 8.3.3. Japan Pressure Vessels Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Material
    - 8.3.3.2.2. By Product
    - 8.3.3.2.3. By End Use
- 8.3.4. South Korea Pressure Vessels Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Material
    - 8.3.4.2.2. By Product
    - 8.3.4.2.3. By End Use
- 8.3.5. Australia Pressure Vessels Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Material
    - 8.3.5.2.2. By Product
    - 8.3.5.2.3. By End Use

9. Middle East & Africa Pressure Vessels Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Material
- 9.2.2. By Product
- 9.2.3. By End Use
- 9.2.4. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Pressure Vessels Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Material
    - 9.3.1.2.2. By Product
    - 9.3.1.2.3. By End Use
- 9.3.2. UAE Pressure Vessels Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Material
    - 9.3.2.2.2. By Product
    - 9.3.2.2.3. By End Use
- 9.3.3. South Africa Pressure Vessels Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Material
    - 9.3.3.2.2. By Product
    - 9.3.3.2.3. By End Use

10. South America Pressure Vessels Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Material
- 10.2.2. By Product
- 10.2.3. By End Use
- 10.2.4. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Pressure Vessels Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Material
    - 10.3.1.2.2. By Product
    - 10.3.1.2.3. By End Use
- 10.3.2. Colombia Pressure Vessels Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Material
    - 10.3.2.2.2. By Product
    - 10.3.2.2.3. By End Use
- 10.3.3. Argentina Pressure Vessels Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Material
    - 10.3.3.2.2. By Product
    - 10.3.3.2.3. By End Use

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Pressure Vessels Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. IHI Corporation
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. Babcock & Wilcox Enterprises, Inc.
15.3. Pressure Vessels (India)
15.4. Mitsubishi Heavy Industries, Ltd.
15.5. Samuel, Son & Co.
15.6. Alloy Products Corp.
15.7. Abbott & Co (Newark) Ltd
15.8. Doosan Corporation
15.9. Bharat Heavy Electricals Limited (BHEL)
15.10. Larsen & Toubro Limited