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Global Pressure Vessel Market to Be Benefitted By Increasing Demand from the Oil and Gas and Chemical Industries with Forecast Analysis 2016-2024
MRRSE
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The report presents a comprehensive overview of the market including in-depth analysis of the historical data, along with a forecast for the period of 2016-2024. It also sheds light on the ongoing trend in the global pressure vessels market. The competitive dynamics of the market are inspected with the aid of analytical business profiling of the key players. Market dynamics such as drivers and restraints impacting the market’s growth trajectory are investigated in the report, both qualitatively and quantitatively. The major technological developments in recent times are also discussed in the report to inform about their potential effect on the market over the coming years.
According to the report, the major driver for the global pressure vessels market is the rising need for energy around the world. The rising awareness among people towards renewable energy sources has also supported the pressure vessels market massively. The increasing demand from the oil and gas and chemical industries is also propelling growth in the global pressure vessels market. On the other hand, the decrease in mining activities has restrained the pressure vessels market. Pressure vessels require a large quantity of metals, as they need a thick layer of metal in order to contain highly reactive and potentially destructive materials. Hence, high cost and reduction in the metals extraction are hampering the market growth.
The prominent geographical regions covered in the report are North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. Asia Pacific is the largest regional market for pressure vessels. The report offers in-depth insights into the competitive landscape of the market and presents information about company’s strengths and weaknesses, products description, financial details, market share, major technological improvements and involvement in activities such as acquisitions and mergers. The major companies in the global pressure vessels market include Mitsubishi Heavy Industries Ltd., Doosan Heavy Industries & Construction, Bharat Heavy Electricals Ltd. and Larsen & Toubro Ltd. Intensive R&D is carried out by these players for expanding the capabilities of pressure vessels.
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