Press release
Pressure Vessel Global Market 2025: Size, CAGR, Drivers, and Trends
What Is The Projected Market Size Of The Global Pressure Vessel Global Market Report 2025 And Its Growth Rate?
The latest report shows strong recent growth in the pressure vessel market, with key statistics indicating:
• The market increased from $40.08 billion in 2024 to $42.11 billion in 2025, at a CAGR of 5.1%.
• The rise can be contributed to industrial expansion, increased energy consumption, advancements in materials and fabrication techniques, stringent safety regulations, and more.
• Future projections estimate strong growth, reaching $52.83 billion in 2029 at a CAGR of 5.8%.
• This forecasted growth can be attributed to the transition to cleaner energy sources, focus on sustainable manufacturing, and expansion of chemical and petrochemical sectors among other factors.
What Is Driving The Growth In The Pressure Vessel Global Market Report 2025?
The rising global thermal energy demand leading to growing adoption of pressure vessels is a major factor contributing to the growth of the market. Thermal energy plays a significant role in the system determining its temperature. In the production process, nuclear energy is used to generate thermal power where there are different pressure vessels used. These vessels provide barriers that keep radioactive material out of the environment. According to the International Atomic Energy Agency, world nuclear generating capacity is expected to more than double by 2050, contributing to the rising demand for pressure vessels.
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Who Are The Key Players Driving Pressure Vessel Global Market Report 2025 Growth?
Significant players operating in the pressure vessel market include:
• General Electric Company
• Larsen & Toubro
• Mitsubishi Hitachi Power Systems
• Hitachi Zosen
• Bharat Heavy Electricals Limited
• Samuel Pressure Vessel Group
• Halvorsen Company
• Doosan Heavy Industries & Construction Co. Ltd.
• DongFang Turbine Co. Ltd.
• Westinghouse Electric Company
• And many others
What Are The Key Trends In The Pressure Vessel Global Market Report 2025?
Major forecasted trends in the pressure vessel market include:
• Advancements in materials and manufacturing
• Customization and engineering solutions
• Focus on lightweight materials
• Life cycle cost considerations
• Resilience to external forces
• Adoption of non-destructive testing techniques
What Are The Segments Of The Global Pressure Vessel Global Market Report 2025?
The pressure vessel market is segmented into:
1) By Type: Boiler, Reactor, Separator, Other Types
2) By Heat Source: Fired, Un-Fired
3) By Material Type: Steel Alloys, Composites, Other Material Types
4) By Application: Storage Vessels, Processing Vessels
5) By End-User Channel: Power, Oil And Gas, Food And Beverages, Pharmaceuticals, Chemicals, Other End-User Channels
Which Region Leads The Pressure Vessel Global Market Report 2025?
North America had the largest market share in the pressure vessel market in 2024. Western Europe was the second-largest region. Coverage in the report includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Pressure Vessel Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Pressure Vessel Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Pressure Vessel Global Market Report 2025 for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Pressure Vessel Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Pressure Vessel Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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