Global $250+ Billion Pressure Vessels Markets to 2027: Growing Demand in Chemical & Petrochemical and Oil & Gas Industries

DUBLIN, Oct. 14, 2020 /PRNewswire/ -- The "Pressure Vessels Market Size, Share & Trends Analysis Report by Material (Hastelloy, Steel), by Product (Boiler, Nuclear Reactor), by End Use (Chemicals & Petrochemicals, Power Generation), and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.

The global pressure vessels market size is expected to reach USD 250.6 billion by 2027 registering a CAGR of 5.2%.

The growing demand for pressure vessels in chemical & petrochemical and oil & gas industries is expected to drive market growth.

Pressure vessels are containers used to hold high-pressure gases and liquids in various application industries including petrochemicals, chemicals, natural gas storage systems, nuclear reactor vessels, distillation towers, and hot water storage tanks. The ever increasing need for energy is anticipated to propel the product demand in various application industries.

Increasing chemical demand from various end-use industries is encouraging new capital investment in chemical industry. The production capacity of chemicals is expected to increase on account of setting up of new chemical facilities. This is expected to augment the demand for various types of pressure vessels and storage tanks used in different chemical processes.

The global market is fragmented with major companies striving for market leadership. Key players focus on forward integration to maximize their profits and expand their regional presence across the globe. In addition, manufacturers are expected to tie up with engineering solution providers to deliver high-quality product solutions at affordable prices.

Pressure Vessels Market Report Highlights

• Steel led the overall market and accounted for over 30% of overall revenue share in 2019 owing to its characteristics, such as high chemical & corrosion resistance and ability to withstand sunlight, humid conditions, and high temperature
• Boilers product segment accounted for the largest revenue share of 60.3% in 2019 owing to superior performance of these products in various industrial processes
• Asia Pacific led the global market with a share of 35.8% in 2019 owing to rising installation of nuclear powerhouses and rapidly expanding oil & gas and chemical sectors in the region
• Europe was the second-largest regional market in 2019 on account of technological advancements, pertaining to the superior performance of various types of pressure vessels
• Presence of several local companies in Asia is expected to pose a significant threat to key global companies, mainly in terms of product price and quality

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Market Variables, Trends, and Scope
3.1. Penetration & Growth Prospect Mapping
3.2. Industry Value Chain Analysis
3.2.1. Major Raw Material Trends Analysis
3.3. Regulatory Framework
3.4. Technology Framework
3.5. Pressure Vessels Market - Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry Challenges
3.6. Business Environmental Tools Analysis: Pressure Vessels Market
3.6.1. Porter's Five Forces Analysis
3.6.2. PESTLE Analysis

Chapter 4. Pressure Vessels Market: Material Estimates & Trend Analysis
4.1. Pressure Vessels Market: Material Movement Analysis, 2019 & 2027
4.2. Hastelloy
4.3. Titanium
4.4. Nickel & Nickel Alloys
4.5. Tantalum
4.6. Steel
4.6.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
4.6.2. Stainless Steel
4.6.3. Duplex Steel
4.6.4. Carbon Steel
4.6.5. Super Duplex Steel

Chapter 5. Pressure Vessels Market: Product Estimates & Trend Analysis
5.1. Pressure Vessels Market: Product Movement Analysis, 2019 & 2027
5.2. Boiler
5.3. Nuclear Reactor
5.4. Separator

Chapter 6. Pressure Vessels Market: End-Use Estimates & Trend Analysis
6.1. Pressure Vessels Market: End-Use Movement Analysis, 2019 & 2027
6.2. Chemicals & Petrochemicals
6.3. Oil & Gas
6.4. Power Generation

Chapter 7. Pressure Vessels Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2019 & 2027
7.2. Pressure Vessels Market: Regional Movement Analysis, 2019 & 2027

Chapter 8. Competitive Landscape
8.1. Key Global Players, Their Initiatives, & Its Impact on the Market
8.2. Competitive Dashboard
8.3. Vendor Landscape
8.3.1. List of raw material suppliers
8.3.2. List of Manufacturers, by Geographical Presence
8.3.3. List of Distributors
8.3.4. List of Key End Users, by Country
8.4. Strategic Framework

Chapter 9. Company Profiles
9.1. Company overview
9.2. Financial performance
9.3. Product benchmarking
9.4. Strategic initiatives

• IHI Corporation
• Babcock & Wilcox Enterprises, Inc.
• Pressure Vessels (India)
• Mitsubishi Hitachi Power Systems, Ltd.
• Samuel, Son & Co.
• Alloy Products Corp
• Abbott & Co (Newark) Ltd.
• Doosan Heavy Industries & Construction
• Bharat Heavy Electricals Limited
• LARSEN & TOUBRO LIMITED
• Mersen
• Xylem Inc.
• Tinita Engineering Pvt. Ltd
• WCR Inc

For more information about this report visit https://www.researchandmarkets.com/r/jrfq06

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