The Pressure Vessel Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Pressure Vessel Market?
The pressure vessel market has seen consistent growth recently, expanding from a size of $40.08 billion in 2024 to reaching $42.11 billion in 2025. This growth represents a compound annual growth rate (CAGR) of 5.1%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Pressure Vessel Industry?
The Pressure Vessel market is forecasted to reach $52.83 billion in 2029, growing at a compound annual growth rate (CAGR) of 5.8%.
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What are the Key Growth Drivers Fueling the Pressure Vessel Market?
The key drivers in the pressure vessel market are:
• Transition towards cleaner energy sources
• Expansion in the chemical and petrochemical sectors
• Greater role in carbon capture procedures
• Increased adoption of pressure vessels in water treatment facilities
Global Market Segmentation: Identifying Major Pressure Vessel Industry Segments
The pressure vessel market covered in this report is segmented –
1) By Type: Boiler, Reactor, Separator, Other Types
2) By Heat Source: Fired, Un-Fired
3) By Material Type: Steel Alloys, Composites, Other Material Types
4) By Application: Storage Vessels, Processing Vessels
5) By End-User Channel: Power, Oil And Gas, Food And Beverages, Pharmaceuticals, Chemicals, Other End-User Channels
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What are the Emerging Trends Shaping the Future of the Pressure Vessel Market?
The key trends in the pressure vessel market are:
• There is a trend towards the utilization of cleaner energy sources and sustainable manufacturing methods in the pressure vessel market.
• The development of small-scale modular reactors is becoming a significant emerging trend.
• The market is seeing an increased focus on utilizing lightweight materials and considering life cycle costs.
• The adoption ofnon-destructive testing techniques in pressure vessel manufacturing and engineering is also becoming more prevalent.
Who Are the Top Competitors & Leading Players in the Pressure Vessel Market?
Major companies in the pressure vessel market are:
• General Electric Company
• Larsen & Toubro
• Mitsubishi Hitachi Power Systems
• Hitachi Zosen
• Bharat Heavy Electricals Limited
• Samuel Pressure Vessel Group
• Halvorsen Company
• Doosan Heavy Industries & Construction Co. Ltd.
• DongFang Turbine Co. Ltd.
• Westinghouse Electric Company
• Kelvion Holding GmbH
• Ergil Grup
• Alfa Laval AB
• Abbott & Co (Newark) Ltd.
• Alloy Products Corp.
• GEA Group AG
• IHI Plant Services Corporation
• Fabrication Services Inc.
• Engineered Pressure Systems Inc.
• Andritz AG
• SPX Corporation
• Sumitomo Heavy Industries Ltd.
• Siemens AG
• Nooter/Eriksen Inc.
• NuScale Power LLC
• Zhejiang Shengda Steel Tower Co. Ltd.
• Parker Hannifin Corporation
• Mannesmann AG
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the pressure vessel market share in 2024
