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Pressure Vessel Market is expected to grow with the CAGR of approximately 6% by 2023

Pressure Vessel Market is expected to grow with the CAGR of approximately 6% by 2023

Global Pressure Vessel Market
Pressure Vessel market is expected to grow with the CAGR of approximately 6% from 2017 to 2023,Pressure Vessel Market Information Report by Material (Steel Alloys, Other Alloys, Composites), by Product (Boilers, Nuclear Reactors, Separators, Others), by Application

Market research future published a raw research report Global Pressure Vessel Market that contains the information from 2017 to 2023.  The Pressure Vessel market is expected to grow with the CAGR of approximately 6% from 2017 to 2023

Market Highlights

Drivers for the global pressure vessel market are growing need for energy around the world. Boilers, the dominant type of pressure vessel in current global market are used in various energy generation procedures, which is expected to support their demand in coming years. The growing attention towards the renewable energy sector has also promoted the pressure vessel market immensely. Due to the growing scarcity of natural fuels, more there is more focus on the renewable energy resources, which is benefitting the growth of pressure vessel market. Chemicals that react violently with the atmospheric compounds need to be transported and stored in pressure vessel. The customizability of pressure vessels is another key driver for the global pressure vessel market. On the other hand, the drop in mining activities has restrained the pressure vessels market to a certain degree. Pressure vessels need large amounts of metals, since they need to safeguard with a barrier thick enough to contain even highly reactive and potentially destructive materials. Thus, the decrease in the mining of metals has restrained the pressure vessel market.

Key Players:

The key players of Global Pressure Vessel Market are

  • Babcock and Wilcox Enterprises, Inc. (U.S.A),
  • Doosan Heavy Industries & Construction Co., Ltd. (South Korea),
  • Mitsubishi Heavy Industries Ltd. (Japan),
  • Bharat Heavy Electricals Limited. (India),
  • Larsen & Toubro Limited. (India),
  • Dongfang Electric Machinery Co., Ltd. (China),
  • General Electric Co (U.S.A),
  • Halvorsen (Norway),
  • IHI Corporation (Japan),
  • Pressure Vessels (India),
  • Samuel Pressure Vessel Group. (U.S.A),
  • Westinghouse Electric Company LLC. (U.S.A) 
  • others.

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Steel alloy pressure vessel accounts for the highest market share

Steel alloys are widely used as a material and is expected to continue accounting for maximum revenue share in the global industry, owing to its exceptional strength features that help in carrying high-pressure liquids and gasses. Also easy availability and less costing factors help steel alloys  hold larger share in the pressure vessel market.

 The market has been analyzed based on material types, product, applications and regions. Among all the regions, the Asia-Pacific region is expected to grow rapidly. The rapid expansion of the power sector in the region, the growing operation of nuclear power, and the increasing demand from the chemicals industry drives the growth of the pressure vessels market in Asia-Pacific region. The expected expansion of urban and industrial infrastructure in the region in the coming years will ensure gradual demand for electricity. This will drive the demand for pressure vessels in the region, as they are essential in most conventional power generation procedures.

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 1    Executive Summary

2        Research Methodology
2.1    Scope Of The Study
2.1.1  Definition
2.1.2  Research Objective
2.1.3  Assumptions
2.1.4  Litations
2.2    Research Process
2.2.1  Primary Research
2.2.2  Secondary Research
2.3    Market Size Estimation
2.4    Forecast Model

3    Market Dynamics
3.1    Market Drivers
3.2    Market Inhibitors
3.3    Supply/Value Chain Analysis 
3.4    Porter’s Five Forces Analysis

4      Global Pressure Vessel Market, By Material
4.1    Introduction
4.2    Steel Alloys
4.3    Other Alloys
4.4    Composites
5      Global Pressure Vessel Market, By Product

List of Tables

Table 1        Global Pressure Vessel Market, By Material
Table 2        Global Pressure Vessel Market, By Product
Table 3        Global Pressure Vessel Market, By Application
Table 4     Global Pressure Vessel Market, By Regions
Table 5     North America Pressure Vessel Market, By Material

Continue……..

List of Figures

Figure 1    Research Product
Figure 2    Global Pressure Vessel Market: By Material (%)
Figure 3    Global Pressure Vessel Market: By Product (%)
Figure 4    Global Pressure Vessel Market: By Application (%)
Figure 5    Global Pressure Vessel Market: By Region 

Continue…….

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