Press release
Pressure Vessel Market to Reach USD 63.22 Bn by 2029, emerging at a CAGR of 4.93 percent and forecast 2023-2029
Pressure Vessel Market
This report covers the design, construction, use, and legal obligations associated with pressure vessels. It emphasizes safety, minimum design temperature, corrosion allowance, and the extensive testing required, including non-destructive testing, radiography, hydrostatic testing, pressure testing, and ultrasonic testing.
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Pressure Vessel Market Research Methodology:
The market analysis is based on extensive research, combining both primary and secondary sources. The report covers testing procedures, including non-destructive testing, radiography, hydrostatic testing, pressure testing, and ultrasonic testing.
What are Pressure Vessel Market Dynamics:
The key drivers behind the growth of the pressure vessel market include the increasing global demand for electricity, customization options for pressure vessels, and their expanding use in power generation. Moreover, the commitment to reduce climate change impacts by transitioning to renewable, low-emission fuels and achieving zero emissions by 2050 is a major driver of demand for composite pressure vessels.
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What is Pressure Vessel Market Segmentation:
by Product
1. Boiler
2. Nuclear Reactor
3. Separator
by Material
1. Steel Alloy
2. Other Alloy
3. Composite
by End Use
1. Oil & Gas
2. Chemical
3. Power Generation Chemicals & Petrochemicals
4. Other
by Application
1. Storage Vessels
2. Processing Vessels
by Source
1. Fired
2. Un-Fired
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Who are Pressure Vessel Market Key Players:
1. Springs Fabrication(US)
2. Samuel Pressure Vessel Group(US)
3. Westinghouse Electric Company LLC.(US)
4. CB&I(US)
5. Babcock and Wilcox Enterprises,Inc.(US)
6. General Electric Company(US)
7. Doosan Heavy Industries & Construction(South Korea)
8. Bharat Heavy Electricals Ltd(India)
9. Larsen & Toubro Ltd.(India)
10. Dongfang Electric Machinery Co., Ltd..(China)
11. Shanghai Electric(China)
12. IHI Corporation(Japan)
13. Mitsubishi Heavy Industries, Ltd.(Japan)
14. IHI Corporation(Japan)
15. Kobelco(Japan)
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Table of content for the Pressure Vessel Market includes:
Pressure Vessel Market: Research Methodology
Pressure Vessel Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3. Pressure Vessel Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
MandA by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
4.Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Pressure Vessel Market Regional Insights:
Asia Pacific: The Asia Pacific region is projected to maintain its status as the largest and fastest-growing market for pressure vessels. This is driven by a growing fleet of passenger cars and M&HCVs, rising demand for alternative fuel vehicles, and significant gas requirements for power generation to support the region's burgeoning manufacturing, commercial, and residential sectors. Governmental attention and increased R&D expenditure are further propelling the pressure vessel industry in this region. The growth is also attributed to the expanding nuclear power operations and increased demand in the chemical sector.
North America: North America is expected to witness significant growth through the forecast period, owing to rapid industrialization and the rising demand for high-energy pressure vessels. The U.S. and Mexico hold the largest regional share, driven by the presence of major market participants and growing urbanization. Furthermore, the shift towards using natural gas for power generation is expected to contribute to market revenue growth.
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Key Offerings:
Past Market Size and Competitive Landscape (2022 to 2029)
Past Pricing and price curve by region (2022 to 2029)
Market Size, Share, Size and Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by growth and trend
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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