Press release
Pressure Vessel Market to experience an impressive growth of 4.7% during 2019-2024
Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Pressure Vessel Market.
The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2019-2024.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?
These questions and many more, big and small, are all discussed in the report in great detail.
The Pressure Vessel Market: Highlights
The global pressure vessel market is likely to witness an impressive CAGR of 4.7% during the forecast period. Rapid industrialization and enormous demand for electricity are the prime factors that proliferate the pressure vessel market globally. Significant investment towards renewable energy in Asia-pacific and North America to meet growing demand for power supply is expected to boost the demand for pressure vessels in the coming five years.
The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.
Dissection by Segments
• by Material Type : Steel Alloys, Composites and Others
• by Type : Boilers, Nuclear Reactors and Others
• by End-User Industry : Oil & Gas, Chemicals and Others
• by Region : North America, Europe, Asia-Pacific, and RoW
Get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/438/Pressure-Vessel-Market.html
Market Segments
Based on the type, the pressure vessel market is segmented as boilers, nuclear reactors, separators, and others. Boilers are expected to remain the largest segment of the market during the forecast period, owing to a huge demand for boilers in power generation plants to produce electricity. Asia-Pacific is expected to contribute immensely towards the growth of the boilers segment, owing to a rapid industrialization and significant economic development in the emerging Asian economies mainly in China and India.
Based on the end-use industry type, the pressure vessel market is segmented into oil & gas, chemical, power generation, and others. Power plant is projected to remain the largest segment of the market, driven by an incessant increase in the demean for power due to increasing population. The chemicals segment is estimated to witness the highest growth in the coming years, driven by an increased demand for specialty chemicals. The oil & gas segment is also likely to generate a healthy demand for pressure vessels in the coming five years.
In terms of regions, Asia-Pacific is expected to lead the market for pressure vessels during the forecast period. The surge in the demand for electricity to meet requirements of expanding industrial, commercial, and residential sectors is the key factor behind the extraordinary growth of the region. Europe and North America are the other two major markets with substantial growth opportunities, owing to ongoing economic recovery in both of the markets.
Players
Some of the major pressure vessel manufacturers are Babcock and Wilcox Enterprises, Inc., Doosan Heavy Industries & Construction Co., Ltd., Mitsubishi Heavy Industries, Ltd., Bharat Heavy Electricals Limited, Larsen & Toubro Limited, Dongfang Electric Machinery Co., Ltd., General Electric Company, IHI Corporation, Samuel Pressure Vessel Group, and Westinghouse Electric Company LLC.
Click Here for Other Reports from Stratview Research in the Advanced materials Industry:
https://www.stratviewresearch.com/market-reports/Advanced-Materials.html
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Stratview Research is a global market intelligence firm offering a wide range of services including syndicated market reports, consulting, sourcing intelligence, and customer research. We are a trusted brand in the research industry with capability of commissioning complex projects within a short span of time with high level of accuracy.
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