Press release
Pressure Vessels Market is Forecasted to Reach US$ 8823.7 million in 2026, Says Stratview Research
Stratview Research, a global market research firm has launched a report on the global pressure vessels market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/438/Pressure-Vessel-Market.html#form
Report Highlights:
Market Size in 2026: US$ 8823.7 million
Growth (CAGR): 12.9% during 2021-2026
Forecast Period: 2021-2026
Trend Period: 2015-2019
Base Year: 2020
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Pressure Vessels Market:
The global pressure vessels market is segmented based on application type, vessel type, and region.
Based on application type - The pressure vessels market is segmented as life support, transportation, recreational, industrial, gas carrier & storage, and others. Transportation is expected to remain the largest as well as the fastest-growing application type in the market with a share of more than 62.2% during the forecast period owing to the increasing demand for natural gas-powered vehicles across regions. Over the years, the price of gasoline has been soaring, creating a greater demand for cars that run on alternative fuels, such as fuel cells and CNG. Among transportation, hydrogen (fuel-cell) vehicles is likely to create a humungous growth opportunity for the market participants in the coming five years.
Based on the vessel type - The market is segmented as type-I, type-II, type-III, and type-IV. Type-I vessel is expected to hold a huge market share of >70% owing to its well-proven track record paired with the overall lowest cost. However, the dominance of vessel type differs from region to region. North America, a relatively small market, has a high dominance of type-III and type-IV vessels, whereas, Asia-Pacific, the largest market for pressure vessels, is immensely dominated by type-I vessels. Overall, the type-IV vessel is subjected to record the highest growth in the future, owing to its lightweight, excellent strength, and corrosion resistance. In addition to these factors, type-IV pressure vessels can hold gases at high pressures due to their inherent strength as well as large volumes of gases can be stored, key factors compelling system integrators and OEMs to transition from heavyweight metal vessels to lightweight composite vessels.
To know the most attractive segments, click here:
https://www.stratviewresearch.com/438/Pressure-Vessel-Market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to remain the largest as well as the fastest-growing market with a share of more than 65% for pressure vessels during the forecast period. This growth outlook is majorly attributed to the following-
The region is quite vulnerable to high-tension border conflicts and terror threats.
• A huge fleet of passenger cars and M&HCVs paired with an increased demand for automobiles with alternative fueling options and large requirements of gases for power generation to fulfill the needs of the region's developing industrial, commercial, and residential sectors are some of the fundamental drivers of the region's exceptional growth.
• Increased R&D investments and more attention from governments are further benefiting the pressure vessel market significantly.
Pressure Vessels Market Drivers:
Some of the key drivers listed in the report are given below.
• Increasing need for energy.
• Increasing industrialization.
• Safety regulations by governments.
• Increase in nuclear power generation plants.
Top Companies in the Pressure vessels Market:
Stratview Research has identified the following companies as the top market players.
• Beijing Tianhai Industry Co., Ltd.
• Catalina Cylinders
• Cylinders Holding a.s.
• Everest Kanto Cylinder Ltd.
• Faber Industrie SPA
• Grupo Mat
• Hexagon Composites
• Iljin Composites
• Luxfer Holdings PLC
• Norris Cylinder (A TriMas Company)
• Sinoma Science & Technology Co., Ltd.
• Shenyang Gas Cylinder Safety Technology Co., Ltd
• Worthington Industries, Inc.
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Pressure Vessels Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Automotive Pressure Vessels Market: https://www.stratviewresearch.com/2303/automotive-pressure-vessels-market.html
• Type-I Pressure Vessels Market: https://www.stratviewresearch.com/1975/type-I-pressure-vessels-market.html
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About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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