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Pressure Vessel Market Includes Various Strategies Followed by Them in the Market to Maximize Their Growth and Revenue
The report comprises SWOT analysis of the key players, based on their core competencies, position, performance, and developments in the market. This provides a clear picture of growth avenues in the market that are being adopted by the players. Mitsubishi Heavy Industries, Ltd. (Japan), Babcock and Wilcox Enterprises, Inc. (U.S.), Doosan Heavy Industries & Construction (South Korea), Bharat Heavy Electricals Limited (India), and Larsen & Toubro Limited (India) are some of the most active players in the market. Other companies include Dongfang Electric Machinery Co., Ltd (China), General Electric (U.S.), Halvorsen (U.S.), IHI Corporation (Japan), Pressure Vessels India (India), Samuel Pressure Vessel Group (U.S.), and Westinghouse Electric Company LLC. (U.S.)
Competitive landscape provides an overall picture of the market scenarios, along with the market share, based on the revenue of the leading players in the market. Various strategies and developments adopted by the leading players from January 2014 to April 2016 have also been included in order to analyze the best strategies. Companies in the pressure vessel market adopted both organic and inorganic strategies to gain market share and revenue growth. Contracts and agreements have been identified as the major strategy adopted by the leading players in the market to gain market share. The market has witnessed some major contracts and agreements between top players to maximize their geographical reach and revenue generation. Merger and acquisition was the second most adopted growth strategy to tap the opportunities in the pressure vessel market. Moreover, new product development has also influenced businesses of the market players. Product development, according to the changing demand, based on the market scenario, has helped companies to tap the arising demand for pressure vessels.
Mitsubishi Heavy Industries, Ltd. (Japan) is one of the leading companies in the pressure vessel market. Contracts & agreements was the major growth strategy adopted by the company to enhance its geographic revenue. In December 2015, it received a contract from San Buenaventura Power Ltd., (the Philippines) to supply a boiler, steam turbine, and a generator. Through this contract the company intended to leverage its advanced technologies related to expertise in designing and manufacturing of boilers and its auxiliaries, and further enhance its marketing activities in the region.
Babcock and Wilcox Enterprises, Inc. (U.S.) adopted merger & acquisition as its key growth strategy to increase its market share. In June 2014, Babcock and Wilcox Enterprises, Inc. acquired MEGTEC (U.S.) as a part of its diversification strategy to achieve growth globally.
Growth in the pressure vessel market is influenced by various stakeholders such as pressure vessel manufacturers and suppliers; end-user industries such as chemicals, oil & gas, and power industries; state and national regulatory authorities; government and industry associations; state- or government-owned corporations; and various international certification agencies. The report caters to the demand of these stakeholders providing new growth avenues.
Pressure Vessel Market by End-User Industry (Chemicals, Oil & Gas, Power, & Others), by Type (Boilers, Nuclear Reactors, Separators, & Others), by Material (Steel Alloys, Other Alloys, & Composites), & by Region (Asia-Pacific, North America, Europe, the Middle East & Africa, and South America) - Global Forecast to 2021
Markets and Markets
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