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Pressure Vessel Industry Analysis 2023-2032: Size, Growth And Top Trends | Babcock & Wilcox Enterprises, General Electric, Larsen & Toubro, Mitsubishi Hitachi Power Systems, Hitachi Zosen
Pressure Vessel Market
Pressure Vessel Market Size, Growth Rate, And Forecast
The global pressure vessel market size 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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pressure vessel market size is expected to grow to $46.37 billion in 2027 at a CAGR of 4.9%.
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Pressure Vessel Market Drivers
The rising global thermal energy demand leading to the growing adoption of pressure vessels is the major driver for the growth of the market. Thermal energy is the term used to describe the energy present in a system that determines its temperature.
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Pressure Vessel Market Segments
• 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: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Pressure Vessel market.
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Pressure Vessel Market Key Players
Major competitors 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.
The Business Research Company's "Global Pressure Vessel Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Pressure Vessel Market Include:
1. Executive Summary
2. Pressure Vessel Market Characteristics
3. Pressure Vessel Market Trends And Strategies
4. Pressure Vessel Market - Macro Economic Scenario
5. Pressure Vessel Market Size And Growth
……
26. Africa Pressure Vessel Market
27. Pressure Vessel Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Pressure Vessel Market
29. Pressure Vessel Market Future Outlook and Potential Analysis
30. Appendix
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