Global High-Pressure Vessel Market is valued approximately at USD 166.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.38% over the forecast period 2020-2027. Pressure vessels are containers which are designed to store liquids and gases of high pressure. The properties such as capability of retaining its structural properties, Offers great resistance to corrosion, excellent tensile strength of pressure vessels may vary according to the requirement of the application and regional regulations; however, the primary role of pressure vessels is to withstand high pressure. Steel and composite materials, such as carbon fiber and polymer, are the materials used in pressure vessels which can withstand high pressure and high temperature. Rising need for energy around the world is the major driving factor. According to EIA.ORG, Increasing income, urbanization, and increased electricity access lead to rising energy demand. Increasing end-use consumption results in a 79 per cent increase in electricity generation between 2018 and 2050. The increasing attention given to the renewable energy sector by governments around the world has also massively benefited the market for pressure vessels, is the opportunity factor. The decrease in mining activities has restrained the market for pressure vessels to a certain extent. As per SRD, Supply chain delay interruptions for parts, equipment, and consumables impacting productivity have occurred around the world. Access to mining sites was also a problem, as many countries took social distancing and quarantine measures. AngloAmerican has announced that their capital expenditure will be reduced by one billion US dollars by 2020.

The regional analysis of global High-Pressure Vessel market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Due to the rapid expansion of the power sector in this region Asia Pacific is expected to be the largest market for pressure vessel. Installing nuclear powerhouses and increasing oil and gas industries along with chemical industries are opening up opportunities in the Asia Pacific region for global market growth. The Middle East & Africa invests significantly in new power projects and other factors influencing regional demand are well-established oil & gas infrastructures. The development of Latin America’s urban and industrial infrastructure is also expected to create a market for pressure vessels in this area.

Major market player included in this report are:
Larsen & Toubro Ltd.,
Mitsubishi Heavy Industries, Ltd.,
Doosan Heavy Industries & Construction
Bharat Heavy Electricals Ltd. Mersen
Hexagon xperion
Parr Instrument
Autoclave Engineers
LPP Group
Premex Solutions
Berghof-instruments


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Titanium
Steel
Stainless Steel
Nickel Material
Zirconium
Composite Material
By Application:
Petrochemical
Chemical
Coal Chemical
Nuclear Power
Non-ferrous Metal
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Urgent Care Center Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors