The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising global thermal energy demand, which is driving increased pressure vessel adoption, is expected to drive innovation in pressure vessel manufacturing, driving the market during the forecast period.

The global pressure vessel market is expected to grow from $36.37 billion in 2022 to $38.31 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The pressure vessel market size is expected to grow to $46.37 billion in 2027 at a CAGR of 4.9%.

Get A Free Sample On The Global Pressure Vessel Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8567&type=smp

Global Pressure Vessel Market Segments Include:

• By Type: Boiler, Reactor, Separator, Other Types
• By Heat Source: Fired, Un-Fired
• By Application: Storage Vessels, Processing Vessels
• By Material Type: Steel Alloys, Composites, Other Material Types
• By End-User Channel: Power, Oil and Gas, Food and Beverages, Pharmaceuticals, Chemicals, Other End-User Channels
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global pressure vessel market in 2021.

Major Market Players in the pressure vessel market include Babcock & Wilcox Enterprises, General Electric, Larsen & Toubro, Mitsubishi Hitachi Power Systems, Hitachi Zosen, IHI Corporation, Bharat Heavy Electricals Limited.

Technological innovation is a key trend that is gaining traction in the pressure vessel market. Key players are increasingly focusing on integrating smarter and safer safety systems in order to improve design and analysis and gain a competitive advantage in the market. For example, Hexagon, a Swedish sensor solutions, software solutions, and autonomous solutions company, launched its PV Elite 23, a complete solution for vessel and heat exchanger design, analysis, and evaluation, in January 2021. The automatic design options enable users to quickly, accurately, and profitably modify vessel designs to save time and design equipment for the most extreme uses.

The Pressure Vessel Global Market Report 2023  provides a pressure vessel market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The pressure vessel market forecast analyzes pressure vessel market size, pressure vessel market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A pressure vessel is a container designed to hold gases or liquids at significantly higher pressures than the surrounding atmosphere. These are used for storing liquid or gases such as petroleum products, chemicals, or even air or water at high pressure.

Explore Similar Reports From The Business Research Company:

Pressure Sensor Global Market Report 2023

Vessel Traffic Management Global Market Report 2023

Warship And Naval Vessels Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: