Pressure Vessels Market: Segmentation Analysis
The 120 pages report analyzes the pressure vessels market by end-user (power generation, chemicals, oil and gas, and others) and geography (APAC, Europe, North America, MEA, and South America).
By end-user, the market is generating maximum revenue in the power generation segment. The segment is driven by the increasing demand for uninterrupted power from residential, commercial, and industrial sectors. In addition, increasing investments in renewable energy will foster the growth of the market during the forecast period.
In terms of geography, APAC will dominate the market, occupying a 50% share of the global market. The region is creating significant growth opportunities for market players. Growing industrialization and economic development in countries such as China and India are creating significant demand for power in the region. In addition, factors such as the growing number of investments from international investors and the rising financial support from energy organizations and regional banks for developing renewable projects are driving the growth of the pressure vessels market in APAC.
Pressure Vessels Market: Growth Drivers
The pressure vessels market is driven by the amplified demand for water and wastewater treatment. The demand for water and wastewater treatment is increasing across industries such as F&B, pharmaceutical, and pulp and paper. Besides, the growing stringency of regulations on manufacturing activities is compelling companies to establish new treatment plants and replace old treatment plants. In addition, the growing demand for drinking water has increased investments in wastewater and desalination plants in countries such as UAE, Egypt, India, and China. All these factors are driving the growth of the global pressure vessels market.
In addition, the augmentation of coal capacities and revival of nuclear power plants in Japan will further accelerate the growth of the market.
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Some of key Pressure Vessels Players:
IHI Corp.: The company designs and manufactures towers, drums, and heat exchangers for oil refineries and petrochemical, chemical, and gas treatment plants and engages in structural analysis and aseismic design involving such equipment.
Kelvion Holding GmbH: The company offers plate heat exchangers, shell & tube heat exchangers, finned-tube heat exchangers, modular cooling towers, and refrigeration heat exchangers.
KNM Group Berhad: The company offers column and towers, reactors, separators, steam drums, jacketed vessels, ultra high vacuum and cyrogenic vessels, deaerators, and autoclaves.
Kobe Steel Ltd.: The company offers pressure vessels to oil refineries and a variety of chemical plants.
Larsen and Toubro Ltd.: The company offers pressure vessels & large columns for LNG Liquefaction Terminals across the world
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Pressure Vessels Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
Market growth 2021-2025 |
USD 44.60 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.92 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
APAC at 50% |
Key consumer countries |
China, US, Japan, Italy, and Australia |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
IHI Corp., Kelvion Holding GmbH, KNM Group Berhad, Kobe Steel Ltd., Larsen and Toubro Ltd., McDermott International Inc., Mersen Corporate Services SAS, Mitsubishi Heavy Industries Ltd., Samuel Son & Co. Ltd., and The Japan Steel Works Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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