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Pressure Vessel Market Size, Share, Key Trends, Strategies, Drivers, Outlook and Forecast to 2024

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The global pressure vessel market is expected to reach USD 225.84 billion by 2024, according to a new report by Grand View Research, Inc. Read More @ http://www.radiantinsights.com/research/pressure-vessel-market
Pressure Vessel Market Size, Share, Emerging Opportunities,
Strategies, Drivers, Outlook and Forecast to 2024
The global pressure vessel market is expected to reach USD 225.84 billion by 2024, according to a new report by
Grand View Research, Inc. Increasing investment in energy sector is anticipated to be the major driving factor for
the industry growth.
These vessels are containers designed to hold liquids or gases at high pressure. They have wide applications across
various industries including chemicals, oil & gas, petrochemicals, power in the form of compressed air receivers,
distillation towers, hot water storage tanks, nuclear reactor vessels, and natural gas storage systems.
They form an integral part of industry infrastructure for safe handling of gases and liquids. Increasing investment
to build high performance-infrastructure for oil exploration activities is expected to drive the industry. The tanks
are also used to store propane which is a by-product of liquefied gas processing.
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Their application as boilers in thermal energy production is further anticipated to augment the industry volume in
near future. These boilers are also used for the domestic hot water system. Many companies need water in the
purest form and use fractional distillation. Overall product usage in distillation towers is anticipated to provide
great opportunities for overall industry growth.
Further key findings from the report suggest:
Steel alloy dominated the market with an approximate share of 40% in 2015 and is expected to continue its
dominance owing to easy availability of steel and superior qualities. The composite materials sector is anticipated
to witness the highest growth over the forecast period. Some composite based vessels are expected to offer better
performance than steel, which is expected to increase its preference in the near future.
Boilers are anticipated to grow at significant rate over the forecast period on account of its wide industrial
applications, especially in fractional distillation. Around one-fourth of the industry in 2024 is expected to be
captured by in nuclear reactors on account of increasing atomic energy implementations.
Power generation was the leading end-use segment and accounted for 33.5% of total market revenue in 2015.
Increasing energy demand has been prompting increasing power generation which is expected to drive this
segment over the forecast period.
Chemicals manufacturing is anticipated to witness the highest growth rate of 5.8% on account of increasing
chemical projects in developing regions including the Middle East and Asia Pacific.
Asia Pacific was the leading regional market and accounted for 38.3% of total market revenue in 2015. Growth of
power and chemicals industry in China and India coupled with government support to expand power generation
capacities are anticipated to drive the regional market.
Major players operating in the global industry include Mitsubishi, Larsen & Toubro, Bharat Heavy Electricals,
Pressure Vessels India, Samuel Pressure Vessels, Doosan, Babcock and Wilcox, Barton Firtop, and Abbott.
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Table of Contents
Chapter 1 Methodology & Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Pressure Vessel - Industry Summary & Key Buying Criteria
Chapter 3 Pressure Vessel Industry Outlook
3.1 Market segmentation
3.2 Market size and growth prospects
3.3 Pressure Vessel- Value chain analysis
3.3.1 Vendor landscape
3.4 Raw material analysis
3.5 Legislative framework
3.6 Pressure vessel market dynamics
3.6.1 Market driver analysis
3.6.2 Market restraint analysis
3.7 Key market opportunities - prioritized
3.8 Industry analysis - Porter's
3.9 Pressure vessel- Company Market Share Analysis
3.10 Pressure vessel - PESTEL analysis
Chapter 4 Pressure Vessel Material Outlook
4.1 Global pressure vessel market revenue share by material, 2015 & 2024
4.2 Steel Alloy
4.2.1 Global steel alloy pressure vessel market estimates and forecast, 2014 - 2024
4.2.2 Global steel alloy pressure vessel market estimates and forecast by region, 2014 - 2024
4.3 Steel Alloy
4.3.1 Global steel alloy pressure vessel market estimates and forecast, 2014 - 2024
4.3.2 Global steel alloy pressure vessel market estimates and forecast by region, 2014 - 2024
4.4 Steel Alloy
4.4.1 Global steel alloy pressure vessel market estimates and forecast, 2014 - 2024
4.4.2 Global steel alloy pressure vessel market estimates and forecast by region, 2014 - 2024
Chapter 4 Pressure Vessel Product Outlook
4.1 Global pressure vessel market revenue share by product, 2015 & 2024
4.2 Boiler
4.2.1 Global boiler market estimates and forecast, 2014 - 2024
4.2.2 Global boiler market estimates and forecast by region, 2014 - 2024
4.3 Nuclear reactor
4.3.1 Global nuclear reactor market estimates and forecast, 2014 - 2024
4.3.2 Global nuclear reactor market estimates and forecast by region, 2014 - 2024
4.4 Separator
4.4.1 Global separator market estimates and forecast, 2014 - 2024
4.4.2 Global separator market estimates and forecast by region, 2014 - 2024
4.5 Other
4.5.1 Global other products market estimates and forecast, 2014 - 2024
4.5.2 Global other products market estimates and forecast by region, 2014 - 2024
Chapter 4 Pressure Vessel End-Use Outlook
4.1 Global pressure vessel market revenue share by end-use, 2015 & 2024
4.2 Oil & gas
4.2.1 Global pressure vessel market estimates and forecast from oil & gas, 2014 - 2024
4.2.2 Global pressure vessel market estimates and forecast from oil & gas by region, 2014 - 2024
4.3 Chemical
4.3.1 Global pressure vessel market estimates and forecast from chemical, 2014 - 2024
4.3.2 Global pressure vessel market estimates and forecast from chemical by region, 2014 - 2024
4.4 Power generation
4.4.1 Global pressure vessel market estimates and forecast from power generation, 2014 - 2024
4.4.2 Global pressure vessel market estimates and forecast from power generation by region, 2014 - 2024
4.5 Other
4.5.1 Global pressure vessel market estimates and forecast from other applications, 2014 - 2024
4.5.2 Global pressure vessel market estimates and forecast from other applications by region, 2014 - 2024
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