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The pressure vessels market is driven by the amplified demand for water and wastewater treatment. In addition, the augmentation of coal capacities and revival of nuclear power plants in Japan is anticipated to boost the growth of the pressure vessels market.
Growing production activities in manufacturing industries have led to a significant impact on the global water demand. Besides, the rising need to adhere to stringent environmental regulations and water conservation norms have compelled industrial operators to install wastewater and desalination plants. Pressure vessels are used in water treatment plants to optimize the temperature of the water and increase energy efficiency. Therefore, the rising demand for water and wastewater treatment is expected to fuel the growth of the global pressure vessels market during the forecast period.
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Major Five Pressure Vessels Companies:
IHI Corp.
IHI Corp. operates its business through segments such as Resources, Energy and Environment, Social Infrastructure and Offshore Facility, Industrial System and General-purpose Machinery, Aero Engine, Space and Defense, and Others. The company designs and manufactures towers, drums, and heat exchangers for oil refineries and petrochemical, chemical, and gas treatment plants and engages in structural analysis and aseismic design involving such equipment.
Kelvion Holding GmbH
Kelvion Holding GmbH operates its business through the Unified segment. The company offers plate heat exchangers, shell & tube heat exchangers, finned-tube heat exchangers, modular cooling towers, and refrigeration heat exchangers.
KNM Group Berhad
KNM Group Berhad operates its business through segments such as Asia and Oceania, Europe, and America. The company offers columns and towers, reactors, separators, steam drums, jacketed vessels, ultra-high vacuum and cryogenic vessels, deaerators, and autoclaves.
Kobe Steel Ltd.
Kobe Steel Ltd. operates its business through segments such as Iron & Steel, Welding, Aluminum & Copper, Machinery, Engineering, Construction Machinery, Electric Power, and Other Businesses. The company offers pressure vessels to oil refineries and a variety of chemical plants.
Larsen and Toubro Ltd.
Larsen and Toubro Ltd. operates its business through segments such as Infrastructure, Power, Heavy Engineering, Defence Engineering, Electrical and Automation, Realty, and Others. The company offers pressure vessels & large columns for LNG Liquefaction Terminals across the world.
Pressure Vessels Market End-user Outlook (Revenue, USD Billion, 2020-2025)
- Power generation - size and forecast 2020-2025
- Chemicals - size and forecast 2020-2025
- Oil and gas - size and forecast 2020-2025
- Others - size and forecast 2020-2025
Pressure Vessels Market Geography Outlook (Revenue, USD Billion, 2020-2025)
- APAC - size and forecast 2020-2025
- Europe - size and forecast 2020-2025
- North America - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
- South America - size and forecast 2020-2025
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