Pressure Vessels Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Feb 2021
  • Pages: 120
  • SKU: IRTNTR70008
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The pressure vessels market share is expected to increase by USD 44.60 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5%.

This pressure vessel market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by end-user (Power generation, Chemicals, Oil and gas, and Others) and geography (APAC, Europe, North America, MEA, and South America). The pressure vessels market report also offers information on several market vendors, including 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. among others.

What will the Pressure Vessels Market Size be During the Forecast Period?

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Pressure Vessel Market: Key Drivers and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The amplified demand for water and wastewater treatment is notably driving the pressure vessel market growth, although factors such as unpredictability in oil and gas prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the pressure vessel industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Driver for the Pressure Vessel Market

Amplified demand for water and wastewater treatment requirements are some key drivers for the market in focus. Pressure vessels help in optimizing the temperature of the water and increase the energy efficiency of the water treatment plant. Therefore, an increase in such plants is expected to fuel the demand for the global pressure vessel market. Water is a critical element for manufacturing industries, which is expected to have a significant impact on global water demand. Furthermore, growing production activities in these manufacturing industries will require adherence to stringent environmental regulations and water conservation norms, which is expected to drive the pressure vessel market.

Key Challenge for the Pressure Vessel Market

Unpredictability in oil and gas prices is one of the key challenges for the market in focus. The recent fall in crude oil prices will disrupt the revenue generation of the pressure vessel market, as the oil and gas industry is one of the leading end-user industries for the market. Pressure vessels are used for various applications in the oil and gas industry, such as crude oil production, drilling, oil and gas production, petrochemical, and oil and gas storage and transportation. Volatility in oil and gas prices will affect its production, and, in turn, the prices of various vessels will decline. This will affect the vendors of the market in focus and reduce their profitability.

This pressure vessels market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Pressure Vessels Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 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.
  • The Japan Steel Works Ltd.

 

This statistical study of the pressure vessels market encompasses successful business strategies deployed by the key vendors. The pressure vessels market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The pressure vessels market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Pressure Vessels Market?

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50% of the market’s growth will originate from APAC during the forecast period. China, Japan, and Australia are the key markets for pressure vessels in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing demand for pressure vessels from the regional power and oil and gas industries will facilitate the pressure vessels market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Pressure Vessels Market?

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The pressure vessels market share growth by the power generation segment will be significant during the forecast period. The power generation industry caters to the power requirements of the residential, commercial, and industrial sectors. All these sectors demand an uninterrupted power supply for efficient functioning. This efficiency, in a thermal power plant, is mainly achieved using pressure vessels. The increase in investment by both developing and developed countries in capacity addition in renewable energy and substations is expected to propel the demand for pressure vessels in the power industry.

This report provides an accurate prediction of the contribution of all the segments to the growth of the pressure vessels market size and actionable market insights on post COVID-19 impact on each segment.

 

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

$ 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

Key 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 recovery analysis and future consumer dynamics, Market condition analysis for forecast period

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What are the Key Data Covered in this Pressure Vessel Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive pressure vessels market growth during the next five years
  • Precise estimation of the pressure vessels market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the pressure vessel industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of pressure vessels market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Market characteristics
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Power generation - Market size and forecast 2020-2025
    • Chemicals - Market size and forecast 2020-2025
    • Oil and gas - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • APAC - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • North America - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers – Demand led growth
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption
    • Competitive landscape

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • 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.
    • The Japan Steel Works Ltd.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your FREE sample now!
    The pressure vessels market growth will increase by $44.60 billion during 2020-2025.
    The pressure vessels market is expected to grow at a CAGR of 4.98% during 2020-2025.
    Technavio has segmented the pressure vessels market by end user (Power generation, Chemicals, Oil and gas, and Others) and geographic (APAC, Europe, North America, MEA, and South America).
    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., The Japan Steel Works Ltd. are a few of the key vendors in the pressure vessels market.
    APAC will register the highest growth rate of 49.75% among the other regions. Therefore, the pressure vessels market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    • China
    • US
    • Japan
    • Italy
    • Australia
    The key factors driving the pressure vessels market growth are:
    • Amplified demand for water and wastewater treatment
    The pressure vessels market vendors should focus on grabbing business opportunities from the power generation segment as it accounted for the largest market share in the base year.
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