Pressure Vessel Market by Type (Boiler, Reactor and Separator) Material (Steel Alloys and Composites) Heat Source (Fired and Unfired), End User (Power, Chemicals & Petrochemicals, Oil & Gas and Fertilizers) and Region-Global Forecast to 2025
Pressure Vessel Market
Pressure vessel market is expected to grow at a CAGR of 4.5% during the forecast period (2020–2025)
Pressure Vessel Market and Top Companies
Key market players profiled in the pressure vessel market report includes:
- Babcock & Wilcox (US)
- General Electric (US)
- Larsen & Toubro (India)
- Mitsubishi Hitachi Power Systems (Japan)
- Hitachi Zosen (Japan)
- IHI Corporation (Japan)
- Bharat Heavy Electricals Limited (India)
- Doosan Mecatec (South Korea)
- Dongfang Turbine Co. Ltd (China)
- Westinghouse Electric Company (US)
Babcock & Wilcox (US) provides custom technologies, engineered solutions, and aftermarket solutions to a broad range of industries and mainly to the power generation industry. The company offers engineering and technology, including the procurement, erection, and specialty manufacturing of related industrial equipment, such as high-pressure equipment, environment control systems, ash-handling equipment, dry & wet cooling solutions for steam applications, and aftermarket service solutions. The company has three reportable business segments— Babcock & Wilcox, Vølund & Other Renewable, and SPIG (formerly known as the Power, Renewable, and Industrial segments, respectively). The company offers a wide range of boilers for power generation purposes under its Babcock & Wilcox segment.
General Electric (US) is a high-technology industrial company that manufactures and offers technologies for industries such as power, chemicals, and healthcare. The company operates through 5 industrial segments, namely, Power, Renewable Energy, Aviation, Healthcare, and Capital—its financial segment. GE Power is a branch of General Electric, which is involved in building power generation technologies. The company offers various equipment and machinery required in gas turbines, steam power plants, and nuclear power plants. GE Hitachi, an alliance of General Electric and Hitachi (formed in 2007), handles nuclear power plants and the manufacturing and installation of their equipment. GE Power offers steam boilers and boiling water reactors (BWR) that cater to power generation facilities for various end-user industries, such as mining, oil & gas, water & wastewater, agriculture, and steel manufacturing.
Larsen & Toubro (L&T) (India) is a multinational company engaged in technology, engineering, construction, manufacturing, and financial services. The company operates its business through segments, namely; Infrastructure, Power, Heavy Engineering, Defense Engineering, Electrical & Automation, Hydrocarbon, IT & Technology Services, Financial Services, Developmental Projects, and Others. L&T Heavy Engineering division is a fabricator company that supplies engineered-to-order critical equipment, piping, and systems. The segment mainly caters to the fertilizer, petrochemicals, refinery, oil & gas, coal gasification, and thermal & nuclear power industries. L&T’s Heavy Engineering segment offers various equipment and products, such as hydro processing reactors, waste heat boiler packages, ammonia converters, urea reactors, high-pressure heat exchangers, urea strippers, and other critical equipment for process plants. The company also provides equipment to nuclear process plants, that include steam generators, end shield assemblies, reactor pressure vessels, and pressurizers.
Mitsubishi Hitachi Power Systems (MHPS) (Japan) is a joint venture of thermal generation units of Mitsubishi Heavy Industries, Ltd. and Hitachi, Ltd, formed in 2014. The company is engaged in the entire production process of thermal power plants, ranging from development, design, manufacturing, construction, commissioning, and after-sales services. The company operates its business by manufacturing and selling products and services related to thermal power generation. The product portfolio of the company includes gas turbine combined cycle (GTCC) power plants, steam power plants, integrated coal gasification combined cycle (IGCC) power plants, geothermal power plants, gas turbines, steam turbines, boilers, air quality control systems (AQCS), generators, control systems, fuel cells, and power generation plant peripheral equipment.
Hitachi Zosen (Japan) is an industrial equipment provider that designs, manufactures, and constructs various equipment, plants, and machinery. The company operates its business through 3 reportable segments, namely, Machinery, Infrastructure, and Environmental Systems & Industrial Plants. The company offers a wide range of pressure vessel equipment under its plant equipment product category. Hitachi Zosen manufactures pressure vessels and heat exchangers that are consumed by various end users, such as refineries, petrochemical plants, fertilizer plants, pulp plants, and seawater desalination plants. The company also offers nuclear power plant heat exchangers, vessels, and reprocessing plant equipment. It offers boilers through its subsidiary company, IMEX.
IHI Corporation (Japan) is a heavy industry manufacturer engaged in heavy machinery manufacturing, bridge building, plant construction, and aero-engine production. The company operates its business through 4 segments, namely, Resource, Energy and Environment; Social Infrastructure and Offshore Facility; Industrial Systems and General-purpose Machinery; and Aero Engine, Space and Defense. IHI Corporation designs and manufactures a wide range of pressure vessels through its subsidiary IHI Plant Services Corporation. Products offered by the company include towers, drums, and heat exchangers for oil refineries and petrochemical, chemical, and gas treatment plants. IHI Corporation also offers pressure vessel reactors for nuclear plants that majorly include boiling water reactors (BWRs), advanced boiling-water reactors (ABWRs), and pressurized-water reactors (PWRs). Also, it offers a broad product portfolio related to utility and industrial boilers.
Bharat Heavy Electricals Limited (BHEL) (India) is an engineering and manufacturing enterprise operating in the field of energy and infrastructure. It is also a manufacturer of power equipment. It operates its business through 2 segments, namely, Power and Industry. The Power segment includes various power equipment, such as steam generators, boilers & its auxiliaries, and steam & hydro turbines. The Industrial segment deals in transmission, transportation, renewables, water treatment, defense, and industrial products. Pressure vessel and its auxiliaries come under the Power segment. The company has presence in 83 countries across all continents and operates through a strong network of service centers, manufacturing units, joint ventures, and overseas offices.
Doosan Mecatec (South Korea) is a subsidiary of Doosan Heavy Industries & Construction. The company is involved in the manufacture and sales of chemical process equipment, including static equipment for oil, gas, and petrochemical plants, such as pressure vessel, reactor, and heat exchanger. The company possesses expertise in supplying critical columns and pressure vessels that weigh 1,000 tones or more for refinery, petrochemical, and gas plants, such as distillation column, fractionator, absorber, C3/C2 splitter, and demethanizer. Major clients of the company include oil & gas companies, such as Exxon Mobil, CLG, BP, Shell, and ConocoPhilips. The company has presence in the US and South Korea.
Dongfang Turbine Co., Ltd. (China) is a power station equipment manufacturing company. The company is a wholly owned subsidiary of Dongfang Electric Corporation. It offers a wide range of products and equipment related to various power plants of different energy sources. The company offers solutions for nuclear power, thermal power, gas turbine, auxiliary power systems, and industrial steam turbines. Products offered by the company include thermal power turbines, nuclear power turbines, gas turbines, steam turbine retrofit, spare parts, and industrial turbines. The company offers LP HEATER pressure vessels for nuclear power plants, and comply with the ASME code, BPVC codes, and India Boiler Regulation (IBR).
Westinghouse Electric Company (US) is a supplier of nuclear technology. The company provides a wide range of nuclear power plant products and services to utilities throughout the world. The products offered by the company are both for new nuclear plants and existing plants. Pressure vessel equipment related to nuclear plants offered by the company include heat exchangers and reactor vessels. The company is present in 19 countries across the Americas, Asia, Europe, the Middle East, and Africa.
Pressure Vessel Market and Type of Pressure Vessel
Types of pressure vessel considered in the study are:
- Boilers
- Reactors
- Separators
Boilers – The boilers segment is expected to capture the largest market size during the forecast period. The dependency of developing and emerging countries on thermal power generation, particularly in Asia Pacific, is contributing to the growth of this segment. Moreover, rise in new refinery and chemical plant construction projects in the Middle East & Africa is likely to boost the market growth in the coming years. However, the demand for boilers is likely to witness a sharp decline in 2020 and 2021 due to the COVID-19 pandemic.
Reactors – Stable growth in nuclear energy generation on account of increasing energy generation in nuclear power plants is a major factor supporting the growth of the reactors market. However, multiple nuclear plants have been shut down, and new additions to the grid are lower, which is hampering the growth of the market.
Separators – A separator is a pressure vessel used for separating gaseous and liquid components. The oil & gas industry is currently facing downturns due to volatile prices and stagnant production operations, which is likely to affect the demand for separators in the coming years. However, with Gulf countries trying to increase production in the coming years, the demand for separators is likely to surge.
Pressure Vessel Market and End Users
Major end users for pressure vessel market are:
- Power
- Oil & Gas
- Chemicals & Petrochemicals
- Fertilizers
Power – Aged power plants in developed economies are expected to drive the demand for pressure vessels. Retrofit and modernization projects in Europe and North America are expected to contribute significantly to the pressure vessels for the power sector.
Oil & Gas – Oil & gas upstream operations require pressure vessels, such as boilers, heat exchangers, drums, and separators. The oil & gas industry is experiencing a downturn due to the halt in operations caused by the COVID-19 pandemic. The chances of the industry recovering from the situation seem bleak. Hence, the growth of the pressure vessel market for the oil & gas industry is expected to be the lowest among all other industries during the forecast period.
Chemicals & Petrochemicals – The petrochemicals industry is experiencing heightened demand from numerous construction projects in the Asia Pacific region. More than 20 refineries are expected to be constructed in the Middle East & Africa and Asia Pacific region in the next 5 years. All these factors are driving the growth of the pressure vessel market for the chemicals & petrochemicals industry.
Fertilizers – The industry utilizes boilers, heat exchangers, and separators at large. However, the industry’s growth is subject to overall agricultural production. According to the Food and Agriculture Organization (FAO), in 2019, the fertilizers industry was expected to witness an investment of USD 111 billion by 2023. These investments will drive the pressure vessel market in fertilizers industry.
Key Developments: Pressure Vessel Market
- In April 2020, L&T received a contract from Wuhan Engineering Ltd., a heavy engineering, procurement, and construction company, to supply key gasification equipment for its first coal gasification project in India.
- In January 2020, Babcock & Wilcox Construction Co. LLC, a subsidiary of Babcock & Wilcox, was awarded a contract to install retrofit boiler equipment at a US coal-fired power plant. Under the contract, Babcock & Wilcox Construction Co. LLC would be responsible for the removal and installation of various boiler parts, which would help the plant to continue operating efficiently.
- In December 2019, BHEL won a contract from NLC India Limited (NLCIL), a thermal power generation utility, for supplying a Boiler, Turbine & Generator (BTG) package for two units of 500 MW lignite-based thermal plant at Neyveli, Tamil Nadu.
[173 Pages Report] The global pressure vessel market size is projected to reach USD 53.3 billion by 2025 from an estimated USD 42.7 billion in 2020, at a CAGR of 4.5% during the forecast period. Changes in power generation technology, increasing demand for petrochemicals and chemicals leading to refinery construction, and the growing fertilizer industry are driving the market growth.
By material, the steel alloy segment is expected to make the most significant contribution to the pressure vessel market during the forecast period.
Steel alloys include carbon steel, chromium-molybdenum alloys, and stainless steel. Carbon steel is a combination of iron & steel, whereas stainless steel is an iron alloy with a minimum of 10.5% chromium. Other elements are added to stainless steel to enhance its structure and properties such as formability and strength. High corrosion resistance is the main characteristic of good grade stainless steel. An increase in the number of industrial power projects and the replacement of existing pressure vessels are the major factors driving the growth of the market.
By end-user, the chemicals & petrochemicals segment is expected to grow at the fastest rate during the forecast period in the global pressure vessel market.
The chemicals industry is growing globally owing to increasing consumption of goods such as fertilizers & other agrochemical products, LED lightings, coatings & adsorbents, plastics & human-made fibers, and research laboratory chemicals. According to the International Council of Chemical Associations (ICCA), the chemical industry was valued at USD 5.7 trillion in 2017, which was equivalent to a 7% share in the global GDP. Furthermore, the petrochemical industry is experiencing heightened demand from numerous construction projects in the Asia Pacific region.
Asia Pacific is expected to be the largest market during the forecast period.
North America, Europe, Asia Pacific, Middle East & Africa, and South America are the major regions considered for the study of the pressure vessel market. In Asia Pacific, pressure vessels find applications majorly in power generation, oil & gas, refinery, and chemical industries. Pressure vessels are a vital part of the power generation industry wherein they are used for applications such as steam generation, regeneration, and reheating, and reactors. With the increasing demand for power, substantial investments have been made in developing as well as emerging countries to increase their power generation capabilities. Hence, power generation investments are expected to boost the demand for pressure vessels in the Asia Pacific region.
Key Market Players
The major players in the global pressure vessel market are Babcock & Wilcox Enterprises (US), General Electric(US), Larsen & Toubro (India), IHI Corporation (Japan), Mitsubishi Hitachi Power Systems (Japan), Hitachi Zosen (Japan), Bharat Heavy Electricals Limited (India), Doosan Mecatec (South Korea), Dongfang Turbine Co., Ltd. (China), Samuel, Son & Co. (US), Westinghouse Electric Company (US), and Halvorsen Company (US), Pressure Vessels (India), and Kelvion Holdings GmbH (Germany)
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|
Report Metric |
Details |
|
Market Size available for years |
2018–2025 |
|
Base year considered |
2019 |
|
Forecast period |
2020–2025 |
|
Forecast units |
Value (USD) |
|
Segments covered |
Material, Heat source, Type, End user, and Region |
|
Geographies covered |
Asia Pacific, North America, Europe, the Middle East & Africa, and South America |
|
Companies covered |
Babcock & Wilcox Enterprises (US), General Electric(US), Larsen & Toubro (India), IHI Corporation (Japan), Mitsubishi Hitachi Power Systems (Japan), Hitachi Zosen (Japan), Bharat Heavy Electricals Limited (India), Doosan Mecatec (South Korea), Dongfang Turbine Co., Ltd. (China), Samuel, Son & Co. (US), Westinghouse Electric Company (US), and Halvorsen Company (US), Pressure Vessels (India), and Kelvion Holdings GmbH (Germany) |
This research report categorizes the pressure vessel market based on material, heat source, type, end user, and region.
Based on material:
- Steel alloys
- Composites
- Other alloys (Note: Other alloys include grey-cast iron, ductile iron, and nickel alloys)
Based on the heat source:
- Fired
- Unfired
Based on type:
- Boilers
- Reactors
- Separators
- Others (Others include vessels include heat exchangers, drums, columns, and towers)
Based on end-user:
- Power
- Oil & Gas
- Chemicals & Petrochemicals
- Fertilizers
- Others (Others include mining, pulp & paper, shipping, and water & wastewater industries)
Based on the region:
- North America
- Asia Pacific
- South America
- Europe
- Middle East & Africa
Recent Developments
- In April 2020, L&T received a contract from Wuhan Engineering Ltd., a heavy engineering, procurement & construction company, to supply key gasification equipment for its first coal gasification project in India.
- In January 2020, Babcock & Wilcox Construction Co. LLC, a subsidiary of Babcock & Wilcox, was awarded a contract to install retrofit boiler equipment at a US coal-fired power plant. Under the contract, Babcock & Wilcox Construction Co. LLC would be responsible for the removal and installation of various boiler parts, which would help the plant to continue operating efficiently.
- In October 2019, GE Hitachi Nuclear Energy (GEH), a GE and Hitachi alliance, and Synthos SA, a chemical manufacturing company, collaborated to investigate the potential to construct GEH’s BWRX-300 small modular reactor in Poland. The company aims to invest in clean energy solutions with the help of such collaborations.
Key Questions Addressed by the Report
- The report identifies and addresses the key segments of the pressure vessel market, which will help manufacturers and service providers review the growth in demand.
- The report helps system providers understand the pulse of the market and provides insights regarding the drivers, restraints, opportunities, and challenges.
- The report will help key players understand the strategies of their competitors better and make more pivotal strategic decisions.
- The report addresses the market share analysis of key players in the pressure vessel market, and with the help of this, companies can enhance their revenues in the respective markets.
- The report provides insights about emerging geographies for pressure vessels, and hence, the entire market ecosystem can gain a competitive advantage.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Frequently Asked Questions (FAQ):
What are the growth perspectives for the global pressure vessel market?
The increasing investments in the construction of petrochemical refineries across Asia Pacific and the Middle East & Africa are expected to drive the pressure vessel market.
Which type of pressure vessel is leading the demand across end users?
Boilers are expected to witness the highest demand in coming years owing to a surge in the number of projects for the construction of power plants and refineries. Boilers are used to produce heat through steam generated in them in various industries, such as power generation, pulp & paper, fertilizers, chemicals, and oil & gas.
Which of the construction material will lead the pressure vessel market by 2025?
Steel alloys are the most widely used materials for manufacturing pressure vessels. Pressure vessels made up of steel alloys are highly sustainable and ensure safer operations. With the growing stringency of the American Society of Mechanical Engineers (ASME) and boiler manufacturing codes, the segment is likely to record the highest growth during the forecast period.
Which end user is likely to create maximum demand for pressure vessels market in coming years?
Increasing demand for chemicals and petrochemicals is driving market for pressure vessels. The petrochemicals industry is experiencing heightened demand from numerous construction projects in the Asia Pacific region.
What are key strategies implemented by top players to compete for market share in the pressure vessel market?
The companies in the pressure vessel market are focused on contracts & agreements as the key strategy to increase their market share and regional presence.
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 19)
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION AND SCOPE
1.2.1 PRESSURE VESSEL MARKET: INCLUSIONS VS. EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 GEOGRAPHIC SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 23)
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Breakdown of primaries
2.2 SCOPE
2.3 MARKET SIZE ESTIMATION
2.3.1 DEMAND-SIDE ANALYSIS
2.3.1.1 Assumptions
2.3.1.2 Limitations
2.3.1.3 Calculation
2.3.2 SUPPLY-SIDE ANALYSIS
2.3.2.1 Assumptions
2.3.2.2 Calculation
2.4 FORECAST
2.5 MARKET BREAKDOWN AND DATA TRIANGULATION
2.6 PRIMARY INSIGHTS
3 EXECUTIVE SUMMARY (Page No. - 32)
3.1 SCENARIO ANALYSIS
3.1.1 OPTIMISTIC SCENARIO
3.1.2 REALISTIC SCENARIO
3.1.3 PESSIMISTIC SCENARIO
4 PREMIUM INSIGHTS (Page No. - 39)
4.1 ATTRACTIVE OPPORTUNITIES IN PRESSURE VESSEL MARKET
4.2 PRESSURE VESSEL MARKET, BY TYPE
4.3 PRESSURE VESSEL MARKET, BY MATERIAL
4.4 PRESSURE VESSEL MARKET, BY HEAT SOURCE
4.5 PRESSURE VESSEL MARKET, BY END USER
4.6 PRESSURE VESSEL MARKET, BY REGION
4.7 ASIA PACIFIC PRESSURE VESSEL MARKET, BY END USER & COUNTRY
5 MARKET OVERVIEW (Page No. - 43)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing adoption of supercritical and ultra-supercritical power generation technology
5.2.1.2 Increasing refinery and chemical plant construction activities in Asia Pacific and Middle East
5.2.1.3 Expanding global fertilizer industry
5.2.2 RESTRAINTS
5.2.2.1 Increase in decommissioning activities of nuclear reactors
5.2.2.2 Significantly higher capital requirements and maintenance costs
5.2.3 OPPORTUNITIES
5.2.3.1 Installation of new pressure vessels in aging power plants
5.2.3.2 Technological advancements in materials, testing methodologies, and designs
5.2.4 CHALLENGES
5.2.4.1 Strict emission standards related to pressure vessels
5.3 SUPPLY CHAIN OVERVIEW
5.3.1 KEY INFLUENCERS
5.3.1.1 Raw material providers
5.3.1.2 Equipment manufacturers
5.3.1.3 End users
6 PRESSURE VESSEL MARKET, BY TYPE (Page No. - 51)
6.1 INTRODUCTION
6.2 BOILER
6.2.1 INITIATION OF REFINERY PROJECTS AND AGING POWER INFRASTRUCTURE TO DRIVE BOILERS MARKET
6.3 REACTOR
6.3.1 PHASE-OUT OF NUCLEAR POWER PLANTS TO AFFECT MARKET FOR REACTORS
6.4 SEPARATOR
6.4.1 GROWING OIL & GAS OPERATIONS IN MIDDLE EAST AND ASIA PACIFIC TO DRIVE SEPARATORS MARKET
6.5 OTHER TYPES
7 PRESSURE VESSEL MARKET, BY MATERIAL (Page No. - 57)
7.1 INTRODUCTION
7.2 STEEL ALLOYS
7.2.1 HIGH DEMAND FOR STEEL ALLOYS-BASED PRESSURE VESSELS FROM ASIA PACIFIC DRIVING MARKET GROWTH
7.3 COMPOSITES
7.3.1 TECHNICAL ADVANCEMENTS FUEL DEMAND FOR LIGHTWEIGHT COMPOSITE PRESSURE VESSELS
7.4 OTHER ALLOYS
8 PRESSURE VESSEL MARKET, BY HEAT SOURCE (Page No. - 61)
8.1 INTRODUCTION
8.2 FIRED PRESSURE VESSEL
8.2.1 REQUIREMENT FOR BOILER REPLACEMENT FROM CONVENTIONAL POWER PLANTS BOOSTS DEMAND FOR FIRED PRESSURE VESSELS
8.3 UNFIRED PRESSURE VESSELS
8.3.1 INCREASED DEMAND FOR HIGH-EFFICIENCY PRESSURE VESSELS ACCELERATES UNFIRED PRESSURE VESSEL MARKET GROWTH
9 PRESSURE VESSEL MARKET, BY END USER (Page No. - 65)
9.1 INTRODUCTION
9.2 POWER
9.2.1 AGED THERMAL POWER INFRASTRUCTURE BOOSTING DEMAND FOR PRESSURE VESSELS IN POWER INDUSTRY
9.3 OIL & GAS
9.3.1 FLUCTUATIONS IN UPSTREAM OIL & GAS INDUSTRY TO AFFECT DEMAND FOR PRESSURE VESSELS
9.4 CHEMICALS & PETROCHEMICALS
9.4.1 HIGH DEMAND FOR CHEMICALS AND PETROCHEMICALS PROPEL PRESSURE VESSEL MARKET GROWTH
9.5 FERTILIZERS
9.5.1 SLACKENED DEMAND FOR FERTILIZERS FROM ASIA PACIFIC AND MIDDLE EAST & AFRICA DUE TO COVID-19 OUTBREAK AFFECTING DEMAND FOR PRESSURE VESSELS
9.6 OTHER END USER
10 PRESSURE VESSEL MARKET, BY REGION (Page No. - 71)
10.1 INTRODUCTION
10.2 SCENARIO ANALYSIS
10.2.1 OPTIMISTIC SCENARIO
10.2.2 REALISTIC SCENARIO
10.2.3 PESSIMISTIC SCENARIO
10.3 ASIA PACIFIC
10.3.1 BY TYPE
10.3.2 BY MATERIAL
10.3.3 BY HEAT SOURCE
10.3.4 BY END USER
10.3.5 BY COUNTRY
10.3.5.1 China
10.3.5.1.1 Rising demand for industrial chemicals and power foster pressure vessel market growth in China
10.3.5.2 India
10.3.5.2.1 Increasing power generation capacity in India boosting domestic demand for pressure vessels
10.3.5.3 Japan
10.3.5.3.1 Growing chemicals industry in Japan accelerating country’s pressure vessel market growth
10.3.5.4 Australia
10.3.5.4.1 Country’s plans to expand its oil and gas exports to augment demand for pressure vessels
10.3.5.5 South Korea
10.3.5.5.1 Increasing chemical production in e country fostering demand for pressure vessels
10.3.5.6 Malaysia
10.3.5.6.1 Investments in power generation capacity addition driving pressure vessel market growth in Malaysia
10.3.5.7 Indonesia
10.3.5.7.1 Modification of oil refineries driving requirement for pressure vessels in Indonesia
10.3.5.8 Rest of Asia Pacific
10.4 EUROPE
10.4.1 BY TYPE
10.4.2 BY MATERIAL
10.4.3 BY HEAT SOURCE
10.4.4 BY END USER
10.4.5 BY COUNTRY
10.4.5.1 Germany
10.4.5.1.1 Increasing chemical production accounting for rising demand for pressure vessels in Germany
10.4.5.2 UK
10.4.5.2.1 Oil & gas industry in UK propelling pressure vessel market growth
10.4.5.3 France
10.4.5.3.1 Growing chemicals & petrochemicals industry in France supporting country’s pressure vessel market growth
10.4.5.4 Norway
10.4.5.4.1 Increasing exports of chemicals and oil leading to rising need for pressure vessels in Norway
10.4.5.5 Netherlands
10.4.5.5.1 Chemical & refinery upgrade and expansion projects drive demand for pressure vessels in Netherlands
10.4.5.6 Italy
10.4.5.6.1 Increasing polymer production to drive Italian pressure vessel market growth
10.4.5.7 Spain
10.4.5.7.1 Growing refinery construction projects fostering demand for pressure vessels in Spain
10.4.5.8 Rest of Europe
10.5 NORTH AMERICA
10.5.1 BY TYPE
10.5.2 BY MATERIAL
10.5.3 BY HEAT SOURCE
10.5.4 BY END USER
10.5.5 BY COUNTRY
10.5.5.1 US
10.5.5.1.1 Increasing chemical production, along with shale production, to boost market growth
10.5.5.2 Canada
10.5.5.2.1 Growing oil & gas sector likely to drive market growth
10.5.5.3 Mexico
10.5.5.3.1 Rising demand from oil & gas industry, along with increasing chemical production, to fuel demand for pressure vessels
10.6 MIDDLE EAST & AFRICA
10.6.1 BY TYPE
10.6.2 BY MATERIAL
10.6.3 BY HEAT SOURCE
10.6.4 BY END USER
10.6.5 BY COUNTRY
10.6.5.1 Saudi Arabia
10.6.5.1.1 Increasing refinery construction projects to drive market growth
10.6.5.2 UAE
10.6.5.2.1 High demand for pressure vessels from oil & gas upstream and downstream industries
10.6.5.3 Qatar
10.6.5.3.1 Oil & gas sector creating demand for pressure vessels
10.6.5.4 Kuwait
10.6.5.4.1 Increasing investments in power sector to drive demand for pressure vessels
10.6.5.5 South Africa
10.6.5.5.1 Growing power and manufacturing sectors to drive market growth
10.6.5.6 Egypt
10.6.5.6.1 Growing power demand likely to boost market growth
10.6.5.7 Nigeria
10.6.5.7.1 Increasing demand for pressure vessels for LNG from oil & gas and shipping industries to foster market growth
10.6.5.8 Algeria
10.6.5.8.1 Growing power industry to boost demand for pressure vessels
10.6.5.9 Rest of Middle East & Africa
10.7 SOUTH AMERICA
10.7.1 BY TYPE
10.7.2 BY MATERIAL
10.7.3 BY HEAT SOURCE
10.7.4 BY END USER
10.7.5 BY COUNTRY
10.7.5.1 Brazil
10.7.5.1.1 Oil & gas industry expected to drive market growth
10.7.5.2 Venezuela
10.7.5.2.1 Low industrial growth affecting market growth
10.7.5.3 Argentina
10.7.5.3.1 Reviving oil & gas sector likely to provide opportunities
10.7.5.4 Chile
10.7.5.4.1 Growing electricity demand expected to boost demand for pressure vessels
10.7.5.5 Rest of South America
11 COMPETITIVE LANDSCAPE (Page No. - 125)
11.1 OVERVIEW
11.2 COMPETITIVE LEADERSHIP MAPPING
11.2.1 VISIONARY LEADERS
11.2.2 INNOVATORS
11.2.3 DYNAMIC DIFFERENTIATORS
11.2.4 EMERGING COMPANIES
11.3 RANKING OF PLAYERS AND INDUSTRY CONCENTRATION, 2019
11.4 COMPETITIVE SCENARIO
11.4.1 CONTRACTS & AGREEMENTS
11.4.2 PARTNERSHIPS, COLLABORATIONS, ALLIANCES, AND JOINT VENTURES
12 COMPANY PROFILES (Page No. - 131)
(Business overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, MNM view)*
12.1 BABCOCK & WILCOX ENTERPRISES
12.2 GENERAL ELECTRIC
12.3 LARSEN & TOUBRO
12.4 MITSUBISHI HITACHI POWER SYSTEMS
12.5 HITACHI ZOSEN
12.6 IHI CORPORATION
12.7 BHARAT HEAVY ELECTRICALS LIMITED
12.8 DOOSAN MECATEC
12.9 DONGFANG TURBINE CO., LTD.
12.10 SAMUEL, SON & CO.
12.11 WESTINGHOUSE ELECTRIC COMPANY
12.12 HALVORSEN COMPANY
12.13 PRESSURE VESSELS (INDIA)
12.14 KELVION HOLDING GMBH
12.15 VI FLOW
12.16 ERGIL
12.17 GLADWIN TANK
12.18 ROBINSON PIPE & VESSEL
12.19 TITAN METAL FABRICATORS
12.20 ALLOY PRODUCTS
*Details on Business overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, MNM view might not be captured in case of unlisted companies.
13 APPENDIX (Page No. - 166)
13.1 INSIGHTS OF INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 AVAILABLE CUSTOMIZATIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
LIST OF TABLES (110 TABLES)
TABLE 1 PRESSURE VESSEL MARKET: PLAYERS/COMPANIES CONNECTED
TABLE 2 PRESSURE VESSEL MARKET SNAPSHOT
TABLE 3 COST AND THERMAL EFFICIENCIES OF POWER GENERATION TECHNOLOGIES
TABLE 4 REFINERIES & PETROCHEMICAL PLANT CONSTRUCTION PROJECTS 2018–2020
TABLE 5 FIRED PRESSURE VESSEL MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 6 PRESSURE VESSEL MARKET VOLUME, BY TYPE, 2018–2025 (UNITS)
TABLE 7 BOILER: PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 8 REACTOR: PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 9 SEPARATOR: FIRED PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 10 OTHER TYPES: PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 11 PRESSURE VESSEL MARKET SIZE, BY MATERIAL, 2018–2025 (USD MILLION)
TABLE 12 STEEL ALLOYS: FIRED PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 13 COMPOSITES: PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 14 OTHER ALLOYS: PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 15 FIRED PRESSURE VESSEL MARKET SIZE, BY HEAT SOURCE, 2018–2025 (USD MILLION)
TABLE 16 FIRED PRESSURE VESSEL: PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 17 UNFIRED PRESSURE VESSELS: PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 18 PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 19 POWER: PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 20 OIL & GAS: PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 21 CHEMICALS & PETROCHEMICALS: PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 22 FERTILIZERS: PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 23 OTHER END USER: PRESSURE VESSEL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 24 OPTIMISTIC SCENARIO: PRESSURE VESSEL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 25 REALISTIC SCENARIO: PRESSURE VESSEL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 26 PESSIMISTIC SCENARIO: PRESSURE VESSEL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 27 ASIA PACIFIC: PRESSURE VESSEL MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 28 ASIA PACIFIC: FIRED PRESSURE VESSEL MARKET SIZE, BY MATERIAL, 2018–2025 (USD MILLION)
TABLE 29 ASIA PACIFIC: PRESSURE VESSEL MARKET SIZE, BY HEAT SOURCE, 2018–2025 (USD MILLION)
TABLE 30 ASIA PACIFIC: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 31 POWER: ASIA PACIFIC PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 32 OIL & GAS: ASIA PACIFIC FIRED PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 33 CHEMICALS & PETROCHEMICALS: ASIA PACIFIC PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 34 FERTILIZERS: ASIA PACIFIC PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 35 OTHER END USER: ASIA PACIFIC PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 36 ASIA PACIFIC PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 37 CHINA: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 38 INDIA: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 39 JAPAN: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 40 AUSTRALIA: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 41 SOUTH KOREA: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 42 MALAYSIA: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 43 INDONESIA: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 44 REST OF ASIA PACIFIC: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 45 EUROPE: PRESSURE VESSEL MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 46 EUROPE: PRESSURE VESSEL MARKET SIZE, BY MATERIAL, 2018–2025 (USD MILLION)
TABLE 47 EUROPE: PRESSURE VESSEL MARKET SIZE, BY HEAT SOURCE, 2018–2025 (USD MILLION)
TABLE 48 EUROPE: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 49 POWER: EUROPE PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 50 OIL & GAS: FIRED EUROPE PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 51 CHEMICALS & PETROCHEMICALS: EUROPE PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 52 FERTILIZERS: FIRED EUROPE PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 53 OTHER END USER: FIRED EUROPE PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 54 EUROPE: FIRED PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 55 GERMANY: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 56 UK: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 57 FRANCE: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 58 NORWAY: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 59 NETHERLANDS: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 60 ITALY: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 61 SPAIN: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 62 REST OF EUROPE: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 63 NORTH AMERICA: FIRED PRESSURE VESSEL MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 64 NORTH AMERICA: FIRED PRESSURE VESSEL MARKET SIZE, BY MATERIAL, 2018–2025 (USD MILLION)
TABLE 65 NORTH AMERICA: FIRED PRESSURE VESSEL MARKET SIZE, BY HEAT SOURCE, 2018–2025 (USD MILLION)
TABLE 66 NORTH AMERICA: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 67 POWER: NORTH AMERICA FIRED PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 68 OIL & GAS: NORTH AMERICA FIRED PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 69 CHEMICALS & PETROCHEMICALS: NORTH AMERICA PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 70 FERTILIZERS: NORTH AMERICA PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 71 OTHER END USER: NORTH AMERICA PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 72 NORTH AMERICA PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 73 US: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 74 CANADA: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 75 MEXICO: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 76 MIDDLE EAST & AFRICA: PRESSURE VESSEL MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 77 MIDDLE EAST & AFRICA: PRESSURE VESSEL MARKET SIZE, BY MATERIAL, 2018–2025 (USD MILLION)
TABLE 78 MIDDLE EAST & AFRICA: PRESSURE VESSEL MARKET SIZE, BY HEAT SOURCE, 2018–2025 (USD MILLION)
TABLE 79 MIDDLE EAST & AFRICA: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 80 POWER: MIDDLE EAST & AFRICA PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 81 OIL & GAS: MIDDLE EAST & AFRICA PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 82 CHEMICALS & PETROCHEMICALS: MIDDLE EAST & AFRICA FIRED PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 83 FERTILIZERS: MIDDLE EAST & AFRICA FIRED PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 84 OTHER END USER: MIDDLE EAST & AFRICA PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 85 MIDDLE EAST & AFRICA: PRESSURE FIRED VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 86 SAUDI ARABIA: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 87 UAE: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 88 QATAR: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 89 KUWAIT: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 90 SOUTH AFRICA: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 91 EGYPT: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 92 NIGERIA: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 93 ALGERIA: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 94 REST OF MIDDLE EAST & AFRICA: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 95 SOUTH AMERICA: FIRED PRESSURE VESSEL MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 96 SOUTH AMERICA: FIRED PRESSURE VESSEL MARKET SIZE, BY MATERIAL, 2018–2025 (USD MILLION)
TABLE 97 SOUTH AMERICA: FIRED PRESSURE VESSEL MARKET SIZE, BY HEAT SOURCE, 2018–2025 (USD MILLION)
TABLE 98 SOUTH AMERICA: FIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 99 POWER: SOUTH AMERICA UNFIRED PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 100 OIL & GAS: SOUTH AMERICA PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 101 CHEMICALS & PETROCHEMICALS: SOUTH AMERICA UNFIRED PRESSURE VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 102 FERTILIZERS: SOUTH AMERICA PRESSURE UNFIRED VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 103 OTHER END USER: SOUTH AMERICA PRESSURE UNFIRED VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 104 SOUTH AMERICA: PRESSURE UNFIRED VESSEL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 105 BRAZIL: PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 106 VENEZUELA: PRESSURE UNFIRED VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 107 ARGENTINA: PRESSURE UNFIRED VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 108 CHILE: PRESSURE UNFIRED VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 109 REST OF SOUTH AMERICA: UNFIRED PRESSURE VESSEL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 110 DEVELOPMENTS OF KEY PLAYERS IN UNFIRED PRESSURE VESSEL MARKET, 2017–2019
LIST OF FIGURES (44 FIGURES)
FIGURE 1 PRESSURE VESSEL MARKET: RESEARCH DESIGN
FIGURE 2 RESEARCH METHODOLOGY: ILLUSTRATION OF UNFIRED PRESSURE VESSEL COMPANY REVENUE ESTIMATION (2019)
FIGURE 3 RANKING OF KEY PLAYERS & INDUSTRY CONCENTRATION, 2019
FIGURE 4 DATA TRIANGULATION METHODOLOGY
FIGURE 5 SCENARIO ANALYSIS: PRESSURE VESSEL MARKET, 2018–2025
FIGURE 6 ASIA PACIFIC HELD LARGEST SHARE OF UNFIRED PRESSURE VESSEL MARKET IN 2019
FIGURE 7 BOILERS ARE EXPECTED TO DOMINATE UNFIRED PRESSURE VESSEL MARKET, BY TYPE, IN 2020
FIGURE 8 STEEL ALLOYS TO DOMINATE PRESSURE VESSEL MARKET, BY MATERIAL, DURING FORECAST PERIOD
FIGURE 9 FIRED SEGMENT DOMINATED PRESSURE VESSEL MARKET, BY HEAT SOURCE, IN 2019
FIGURE 10 POWER SEGMENT TO LEAD PRESSURE VESSEL MARKET, BY END USER, DURING FORECAST PERIOD
FIGURE 11 HIGH DEMAND FOR PRESSURE VESSELS FROM NEW REFINERY & CHEMICAL PLANT CONSTRUCTION SUPPLEMENTS PRESSURE VESSEL MARKET GROWTH, 2020–2025
FIGURE 12 BOILERS TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 13 STEEL ALLOYS TO EXHIBIT HIGHEST CAGR IN PRESSURE VESSEL MARKET FROM 2020 TO 2025
FIGURE 14 UNFIRED SEGMENT ACCOUNTED FOR LARGER SHARE OF UNFIRED PRESSURE VESSEL MARKET IN 2019
FIGURE 15 CHEMICALS & PETROCHEMICALS SEGMENT TO RECORD HIGHEST CAGR IN PRESSURE VESSEL MARKET DURING FORECAST PERIOD
FIGURE 16 PRESSURE VESSEL MARKET IN ASIA PACIFIC IS EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 17 POWER SEGMENT AND CHINA DOMINATED UNFIRED PRESSURE VESSEL MARKET IN ASIA PACIFIC IN 2019
FIGURE 18 PRESSURE VESSEL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, & CHALLENGES
FIGURE 19 GLOBAL REFINERY CAPACITY, 2010–2018
FIGURE 20 NUMBER OF OIL REFINERIES, BY GEOGRAPHY, 2000–2018
FIGURE 21 DECOMMISSIONED REACTORS, 2012–2019
FIGURE 22 PRESSURE VESSEL MARKET: SUPPLY CHAIN
FIGURE 23 BOILER ACCOUNTED FOR LARGEST SHARE OF UNFIRED PRESSURE VESSEL MARKET, BY TYPE, IN 2019
FIGURE 24 STEEL ALLOYS TO CONTINUE TO DOMINATE UNFIRED PRESSURE VESSEL MARKET, BY MATERIAL, DURING FORECAST PERIOD
FIGURE 25 FIRED PRESSURE VESSELS TO CAPTURE LARGER MARKET SIZE, BY HEAT SOURCE, IN 2020
FIGURE 26 CHEMICALS & PETROCHEMICALS SEGMENT TO RECORD HIGHEST CAGR IN PRESSURE VESSEL MARKET DURING FORECAST PERIOD
FIGURE 27 UNFIRED PRESSURE VESSEL MARKET IN CHINA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 28 CRITERIA IMPACTING ECONOMY
FIGURE 29 ASIA PACIFIC: PRESSURE VESSEL MARKET OVERVIEW
FIGURE 30 EUROPE: PRESSURE VESSEL MARKET OVERVIEW
FIGURE 31 KEY DEVELOPMENTS IN PRESSURE VESSEL MARKET, 2017–APRIL 2020
FIGURE 32 PRESSURE VESSEL MARKET: (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019
FIGURE 33 RANKING OF KEY PLAYERS & INDUSTRY CONCENTRATION, 2019
FIGURE 34 BABCOCK & WILCOX: COMPANY SNAPSHOT
FIGURE 35 BABCOCK & WILCOX: SWOT ANALYSIS
FIGURE 36 GENERAL ELECTRIC: COMPANY SNAPSHOT
FIGURE 37 GENERAL ELECTRIC: SWOT ANALYSIS
FIGURE 38 LARSEN & TOUBRO: COMPANY SNAPSHOT
FIGURE 39 LARSEN & TOUBRO: SWOT ANALYSIS
FIGURE 40 HITACHI ZOSEN: COMPANY SNAPSHOT
FIGURE 41 HITACHI ZOSEN: SWOT ANALYSIS
FIGURE 42 IHI CORPORATION: COMPANY SNAPSHOT
FIGURE 43 IHI CORPORATION: SWOT ANALYSIS
FIGURE 44 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY SNAPSHOT
This study involved four major activities in estimating the current size of the global pressure vessel market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. After that, the market breakdown and data triangulation were done to determine the market size of the segments and sub-segments.
Secondary Research
This research study involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global pressure vessel market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research
The pressure vessel market comprises several stakeholders, such as end-product manufacturers, raw material providers, and end-users in the supply chain. The demand-side of this market is characterized by its end-users, such as power, oil & gas, chemicals & petrochemicals, fertilizers, and others. The supply-side is characterized by pressure vessel providers, raw material providers, integrators, and others. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents are given below:
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of the global pressure vessel market and its dependent submarkets. These methods were also used extensively to determine the extent of various sub-segments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and demand have been identified through extensive secondary research, and their market share has been determined through both primary and secondary research.
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the whole market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the end-use industries.
Report Objectives
- To define, describe, segment, and forecast the global pressure vessel market based on material, heat source, type, end user, and region
- To provide critical analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the global pressure vessel market with respect to individual growth trends, future expansions, and contribution of each segment to the market
- To analyze opportunities in the market for stakeholders and describe the competitive landscape of the market
- To forecast the growth of the global pressure vessel market in key regions (North America, Europe, Middle East & Africa, Asia Pacific, and South America)
- To profile and rank key players and comprehensively analyze their market share
- To analyze competitive developments in the pressure vessel market, such as contracts & agreements, expansions & investments, new product launches, mergers & acquisitions, joint ventures, and partnerships & collaborations
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for the pressure vessel market report:
Regional Analysis
- Further breakdown of region or country-specific analysis
Company Information
- Detailed analyses and profiling of additional market players (up to 5)
Get in-depth analysis of the COVID-19 impact on the Pressure Vessel Market
Benchmarking the rapid strategy shifts of the Top 100 companies in the Pressure Vessel Market
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Growth opportunities and latent adjacency in Pressure Vessel Market