Press release
Type-I Pressure Vessels Market is Forecasted to Reach USD 6.9 Billion in 2031, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm has launched a report on the global Type-I 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/1975/type-I-pressure-vessels-market.html#form
Report Highlights: `
Market Size in 2031: USD 6.9 billion
Growth (CAGR): 4.7% during 2024-2031
Forecast Period: 2024-2031
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 2
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Type-I Pressure Vessels Market:
The global Type-I Pressure Vessels Market is segmented by application type, and region
Based on application type: The market is segmented into life support, transportation, recreational, industrial, gas carrier & storage, and other applications. Transportation is likely to be the primary driver of demand for Type I pressure vessels, fueled by CNG-powered vehicles, industrial transport, and freight applications due to their cost-effectiveness and durability. However, the gas carrier & storage market is expected to grow at the fastest rate during the forecast period, driven by the rising demand for natural gas and hydrogen, expanding storage infrastructure, and increasing investments in large-scale gas transportation and distribution networks.
To know the most attractive segments, click here for a free sample of the report: https://www.stratviewresearch.com/Request-Sample/1975/type-I-pressure-vessels-market.html#form
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to remain the dominant region throughout the forecast period, whereas Europe is projected to grow at the fastest rate over the forecasted year. This growth outlook is majorly attributed to the following-
• Fueled by the strong presence of industry stakeholders, positioning the region as a key driver for both transportation and industrial applications.
• China, Japan, and are expected to be the major markets, with leading regional manufacturers such as Beijing Tianhai Industry and Everest Kanto Cylinder playing a significant role in the market's expansion.
• Meanwhile, Europe is set to grow the fastest, driven by strict environmental regulations, rapid hydrogen adoption, strong automotive and aerospace advancements, and significant government incentives for clean energy projects.
Type-I Pressure Vessels Market Drivers:
The growth of the Type-I Pressure Vessels Market is driven by several factors.
• The Type I pressure vessels market is witnessing steady growth, driven by their strong durability and cost-effectiveness across various industries, including automotive, industrial gas storage, and energy industries.
• Constructed entirely from metal, typically steel, these vessels are widely used for storing and transporting high-pressure gases such as compressed natural gas (CNG), hydrogen, and other industrial gases.
• The rising demand for CNG-powered vehicles and expanding energy infrastructure is contributing to market expansion, particularly in Asia-Pacific, where rapid industrialization and government policies are encouraging alternative fuel adoption.
Top 10 Companies in the Type-I Pressure Vessels Market:
Stratview Research has identified the following companies as the top market players:
• Cylinder Holding Group
• Beijing Tianhai Industry Co., Ltd.
• Everest Kanto Cylinder Ltd.
• TriMas Corporation
• CIMC Enric Holdings Limited
• Luxfer Holdings PLC
• Sinoma Science & Technology Co., Ltd.
• Worthington Industries, Inc.
• Chengdu Great High Pressure Vessel Co., Ltd
• Shanghai Bene High Pressure Container Co., Ltd
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Type-I 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:
• Pressure Vessels Market: https://www.stratviewresearch.com/438/Pressure-Vessel-Market.html
• Recreational Pressure Vessels Market : https://www.stratviewresearch.com/2306/recreational-pressure-vessels-market.html
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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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