Pressure Vessel Market for Alternative Fuels Expected to Reach $8,529 Million, Globally, by 2023
According to a new report published by Allied Market Research titled, Pressure vessel Market For Alternative Fuels by Construction Type, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the pressure vessel market for alternative fuels was valued at $3,038 million in 2016, and is expected to reach at $8,529 million by 2023, growing at a CAGR of 16.6% from 2017 to 2023. The CNG type I was the highest revenue contributor to the global pressure vessel market for alternative fuels in 2016. Asia-Pacific accounted for the lead position in 2016, and is expected to grow at the highest rate during the study period.Request Sample Report: https://www.alliedmarketresearch.com/request-sample/2222
Pressure vessels are the containers that store fluids under high pressure. These vessels are used in industries, such as petroleum refining, chemical, power, food & beverages, and pharmaceuticals. Pressure vessels are categorized into three main types horizontal, vertical, and spherical. Shell, head, nozzle, and support are the main components of a pressure vessel. The market for CNG pressure vessel is driven by the increase in the number of natural gas vehicle (NGV) vehicles around the world. Also, due the increase in the average prices of fuels over last one decade, low-cost natural gases are being preferred in Asia-Pacific and LAMEA region.
Access Full Summary at: https://www.alliedmarketresearch.com/pressure-vessel-market
The hydrogen vehicle is projected to witness the highest growth during the forecast period, owing to the establishment of several chemical companies in the Middle East. The energy segment is anticipated to witness substantial growth during the forecast period. At present, the count for hydrogen fuel vehicles around the world is approximately 15,000 and the number is expected to rise in coming decade as it is available and renewable. Also, the fact that hydrogen vehicles do not contribute to climate change as there are no greenhouse gas emission, they are gaining preference from manufacturers such as Toyota, Nissan, Honda, Ford, and BMW.
Key Findings of the Pressure Vessel Market:
• The CNG vehicle segment occupied the highest share in 2016, and is expected to grow at a CAGR of 16.5%, in terms of value, during the forecast period.
• Asia-Pacific is the leading consumer, accounting for approximately half of the share of the global market in 2016, followed by LAMEA.
• The hydrogen vehicle segment is expected to register the highest CAGR of 22.7%, in terms of value.
• Brazil and Argentina are the leading provider of CNG pressure vessel for LAMEA.
• China is the leading market in the Asia-Pacific, accounting for approximately three-fifth share of the global pressure vessel market for alternative fuels in 2016.
Asia-Pacific accounted for the highest market share in 2016, and is estimated to grow at the highest CAGR of 17.7%, owing to the presence of major automobile manufacturers in China. In addition, the demand from the natural gas vehicles is expected to drive the market growth in Asia-Pacific.
The key players profiled in this report are 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, IHI Corporation, and Pressure Vessels (India).
For Purchase Enquiry Visit: https://www.alliedmarketresearch.com/purchase-enquiry/2222
About Us: -
Allied Market Research is a Market Research Company which offers Syndicate & Custom Market Research Reports with Consulting Services.
Contact Us: -
5933 NE Win Sivers Drive,
#205, Portland, OR 97220,
United States.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Pressure Vessel Market for Alternative Fuels Expected to Reach $8,529 Million, Globally, by 2023 here
News-ID: 566187 • Views: …
More Releases from Allied Market Research
Gardening Equipment Market Exhibit a Remarkable CAGR of 6.2% and is expected to …
Gardening Equipment Market by Product Type (Lawn Mowers, Handheld equipment, Others), by End-User (Residential, Commercial), by Sales Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global gardening equipment industry generated $40.40 billion in 2021, and is anticipated to generate $74.97 billion by 2031, witnessing a CAGR of 6.2% from 2022 to 2031.
Download Sample PDF:
https://www.alliedmarketresearch.com/request-sample/A07856
Prime determinants of growth
Rapid industrialization & urbanization, surge in middle-class…
2030 Forecast | Micro Motor Market Growing at 4.1% CAGR and Expected to reach $5 …
Micro Motor Market by Type (AC and DC), Technology (Brushed Motor and Brushless Motor), Power Consumption (Less Than 10V, 10V-20V, and More Than 20V), and Application (Industrial, Automotive & Aerospace, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global micro motor industry generated $36.47 billion in 2020, and is estimated to generate $56.06 billion by 2030, witnessing a CAGR of 4.1% from 2021…
Cross Laminated Timber Market Exhibit a Remarkable CAGR of 8.4% and is expected …
The growth of the global cross laminated timber market is driven by growth of the building construction industry, the rise in demand for sustainable construction materials, and various advantages of cross-laminated timber.
Cross Laminated Timber Market By Layer Type (3-Ply, 5-Ply, and Other), By Structure Type (Wall, Roof And Floor, and Other), By Application (Residential, and Non-Residential): Global Opportunity Analysis And Industry Forecast, 2023-2032". The cross laminated timber market was valued…
Marine Gel Coat Market Size 2024, Industry Share, CAGR, Regional Forecast 2032
According to the report, the global marine gel coat market generated $4.2 billion in 2022, and is anticipated to generate $7.5 billion by 2032, rising at a CAGR of 6.1% from 2023 to 2032.
Allied Market Research has recently published a report, titled, "Marine Gel Coat Market Size, Share, Competitive Landscape and Trend Analysis Report by Gelcoat Type, by Resin Type: Global Opportunity Analysis and Industry Forecast, 2023-2032."
…
More Releases for Pressure
Pressure measurement via PLC: AMS 2710 pressure sensor module for direct connect …
For pressure measurement in devices with integrated SPS/PLC or other modular control, traditional encapsulated transmitters are often too expensive and too large. OEM sensors for soldering are inexpensive, but in addition to their own circuit board, they require various electronic components for adjusting the input and output voltage levels and protection against polarity reversal and short-circuiting. Small, inexpensive pressure sensor modules such as the AMS 2710 with 12..36 V…
Wireless pressure sensor
AMSYS presents the barometric wireless pressure sensors of the AMS 4506 series in a small, compact and robust plastic housing (35 x 25 x 13.5 mm³). The wireless pressure sensor AMS 4506 from AMSYS is suitable for barometric pressure measurement and vacuum monitoring. The particular advantage of this wireless sensor is that it can be used in places that are difficult to access, such as wind turbines, in applications that…
Automotive Engine and Transmission Sensors Market Report 2018: Segmentation by P …
Global Automotive Engine and Transmission Sensors market research report provides company profile for NXP Semiconductors, Texas Instruments, Melexis, GE, TE Connectivity, Robert Bosch, Continental, Denso, Delphi, Sensata, Analog Devices, Infineon Technologies and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for…
Digital Pressure Controllers Market Report 2018: Segmentation by Product (Primar …
Global Digital Pressure Controllers market research report provides company profile for MKS Instruments, Const, Dwyer Instruments, Beijing Spake Technology Co., Ltd., Adarsh Industries, Fluke, Mensor (Wika), GE, Additel Corporation and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year…
Differential Pressure Transducer Features Oil-Free, High Line Pressure Design
American Sensor Technologies, Inc. (AST) has released the AST5300 wet/wet differential pressure transducer for use in Explosion-Proof and Non-Incendive areas. Featuring all 316L and Inconel X750 material, the AST5300 is suitable for various liquids and gases requiring high line pressure (1,500 PSI) and low differential pressure (10 PSID) measurements.
One of the biggest benefits to the AST5300 differential pressure transducer is that the sensor is completely free of fluid…
New Product: Winters LLP Pressure Transmitter for Low Pressure
July 25, 2011
Toronto, Ontario - Winters Instruments is pleased to announce the LLP Series Pressure Transmitter, designed specifically for use on applications that produce low pressures up to 25 psi. Featuring a 304 SS housing and 316L SS flexible diaphragm for pressure sensing, the LLP Transmitter is ideal for general industry use, as well as, OEM customers who require a high quality, high accuracy pressure transmitter.
Measuring 4” in height, this…