Global Pressure Vessels Market, By Product (Boiler, Nuclear Reactor, Separator, Others), By Material

Published Date: | Report Code : EQ1958441

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A Pressure Vessel is a container designed to hold gasses or liquids at a significantly different pressure from the ambient pressure. The design includes parameters such as maximum safe operating pressure and temperature, safety factor, allowance for corrosion and minimum design temperature because Pressure vessels can be hazardous, and chances of deadly accidents. Pressure vessels are produced composites and steel alloys. The global pressure vessel market is expected to boom because of the rapid commissioning of large-scale industrial projects combined with increasing energy demand.

Segment Analysis

The global pressure vessel market is segmented on the basis of product material and end user industry. By product, this market is categories into the boiler, nuclear reactor, separator, and others. Boilers segment is expected high demand for a growing number of power plants in the Asia Pacific region. The separator segment is also anticipated rapid growth in the future because of the rising demand for petrochemicals and chemicals. On the basis of material, this market is split into steel alloy, other alloys, and composite. Steel alloys segment is expected to boom because of its outstanding resistance features assist to carry liquids and gasses of high pressure. The global pressure vessels market is expected rapid growth in the Asia Pacific region owing to rapidly developing renewable industries are anticipated to drive the regional market in China, India, South Korea, and Australia. Furthermore, supporting government initiatives to expand power generation capacity is expected to contribute significantly to regional market development. 

Key Factors Impacting Market Growth:
    • Power plants existing in developing regions 
    • Reduced oil and gas projects due to falling crude oil prices 

Regional Outlook:

Major regions for pressure vessel market are estimated to North America, Western Europe, and Asia Pacific. North America and Western Europe have been traditional markets for pressure vessel owing to strong presence of industrial sector. The industrial sector has been one of the key contributors to the economies in these regions. Major industries in these regions are estimated to be building & construction, automotive, healthcare, manufacturing, and so on. These industries have an established base resulting in stable market demand. Moreover, most of these industries have been witnessing transition in terms of product development and production methods. These factors are expected to drive the demand for pressure vessel market in the North America and Western Europe region. 

Major markets by country in these regions include US, Germany, France, UK, Canada, Spain, and others. Asia Pacific and Middle East region has witnessed tremendous growth of the industrial sector in recent years. Major companies operating in this market have made strategic developments to improve market presence in these regions. In addition to this, some of the fastest growing economies including China and India have been major markets for various end-use industries including building & construction, automotive, healthcare, manufacturing, and so on. Among these industries, building & construction, automotive, healthcare, manufacturing, and so on are estimated to register high demand for pressure vessel market during the forecast period. On the other hand, 

Middle East region has witnessed diversification in terms of industrial outlook in recent decades. UAE, Saudi Arabia, Qatar, and others have been instrumental in promoting development of various industries including building & construction, pharmaceuticals, automotive, and so on. This is expected to drive the growth of pressure vessel market directly or indirectly in the region. Eastern Europe consisting of Russia and Turkey promises a stable demand for pressure vessel market during the forecast period. Rest of the World including South America and Africa are estimated to be a developing market with strong potential in strategic future.

Companies Covered: Samuel Pressure Vessel Group, Doosan Heavy Industries & Construction, Mitsubishi Heavy Industries, Ltd., Bharat Heavy Electricals Limited, Larsen & Toubro Limited, Westinghouse Electric Company LLC., General Electric, Halvorsen and IHI Corporation...

Market Segmentation:
By Product:
    • Boiler
    • Nuclear Reactor
    • Separator

By Material:
    • Steel Alloy
    • Other Alloy
    • Composite

By End User Industry:
    • Chemical
    • Oil & Gas
    • Power
    • Others

Region:
    • North America
        ◦ By Country (US, Canada, Mexico)
        ◦ By Product
        ◦ By Material
        ◦ By End User Industry
    • Western Europe
        ◦ By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
        ◦ By Product
        ◦ By Material
        ◦ By End User Industry
    • Eastern Europe
        ◦ By Country (Russia, Turkey, Rest of Eastern Europe)
        ◦ By Product
        ◦ By Material
        ◦ By End User Industry
    • Asia Pacific
        ◦ By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
        ◦ By Product
        ◦ By Material
        ◦ By End User Industry
    • Middle East 
        ◦ By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
        ◦ By Product
        ◦ By Material
        ◦ By End User Industry
    • Rest of the World
        ◦ By Region (South America, Africa)
        ◦ By Product
        ◦ By Material
        ◦ By End User Industry

Reasons To Buy This Report:
    • Market size estimation of the global pressure vessels market on a regional and global basis 
    • Unique research design for market size estimation and forecast 
    • Profiling of major companies operating in the market with key developments
    • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:
We provide customization of the study to meet specific requirements:
    • By Segment 
    • By Sub-segment 
    • By Region/Country
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