Pressure Vessel Market Report 2026

Pressure Vessel Market Overview

• Pressure Vessel market size has reached to $41.37 billion in 2025 • Expected to grow to $53.66 billion in 2030 at a compound annual growth rate (CAGR) of 5.4% • Growth Driver: The Pivotal Role Of Pressure Vessels In The Rising Tide Of Renewable Power • Market Trend: Technological Wave In The Pressure Vessel Market • North America was the largest region in 2025 and Western Europe is the fastest growing region.

What Is Covered Under Pressure Vessel Market?

Pressure vessel is a container designed to hold gases or liquids at a pressure substantially different from the ambient pressure. These are used for storing liquid or gases such as petroleum products, chemicals, or even air or water at high pressure. The main types of pressure vessels include boiler, reactor, separator and other types. Boilers are used to heat the liquids and other materials. Boilers or tanks designed to operate at pressures significantly higher than ambient pressure, typically defined as greater than 15 PSIG are considered pressure vessels. The pressure vessels heat sources include fired and un-fired, with applications such as storage vessels and processing vessels. The pressure vessels material type includes steel alloys, composites and other material types, used by end-user channels including power, oil and gas, food and beverages, pharmaceuticals, chemicals and other end-user channels.

What Is The Pressure Vessel Market Growth Forecast?

The pressure vessel market size is expected to see strong growth in the next few years. It will grow to $53.66 billion in 2030 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to energy transition and hydrogen storage demand, expansion of renewable and clean energy projects, stricter industrial safety regulations, growth in chemical and pharmaceutical manufacturing, increasing investments in industrial infrastructure. Major trends in the forecast period include rising demand for high-capacity pressure vessels, growing adoption of advanced alloy and composite materials, increased focus on safety and regulatory compliance, expansion of pressure vessels for energy storage applications, integration of smart monitoring and inspection technologies.

Tariff Impact On Pressure Vessel Market

Tariffs have impacted the pressure vessel market by increasing the cost of imported steel alloys, composite materials, fabricated components, and specialized manufacturing equipment. These impacts are most evident across oil and gas, power generation, and chemical processing applications, particularly in asia-pacific and europe where cross-border sourcing of raw materials and vessels is common. Higher tariffs have raised project capital costs and extended procurement timelines for large-scale installations. At the same time, tariffs have encouraged domestic fabrication, localization of material supply, and investment in regional manufacturing capacity, supporting long-term supply chain resilience.

What Is The Driver Of The Pressure Vessel Market?

The increasing adoption of renewable sources of energy is significantly contributing to the growth of the pressure vessel market. Renewable energy comes from natural sources that replenish themselves more quickly than they are used up. Pressure vessels play a crucial role in renewable energy applications, particularly in the storage and utilization of various gases. Additionally, pressure vessels are employed in the storage and transportation of hydrogen, a key element in green hydrogen production for fuel cells and other clean energy technologies. For instance, in December 2023, according to reports published by the Department for Energy Security and Net Zero, a UK-based government department, in Quarter 3 of 2023, renewable electricity generation reached 30.1 TWh, marking a 6.8% increase from 2022, with the addition of 2.9 GW of new renewable capacity, including a significant rise in solar PV and wind installations, leading to renewables' share reaching 44.5% of total electricity generation. Therefore, the increased adoption of renewable energy sources is expected to propel the growth of the pressure vessel industry.

Key Players In The Global Pressure Vessel Market

Major companies operating in the pressure vessel market are General Electric Company, Larsen & Toubro Limited, Mitsubishi Hitachi Power Systems, Ltd., Hitachi Zosen Corporation, Bharat Heavy Electricals Limited, Samuel Pressure Vessel Group (Samuel, Son & Co., Limited), Halvorsen Company, Inc., Doosan Heavy Industries & Construction Co., Ltd., Dongfang Turbine Co., Ltd., Westinghouse Electric Company LLC, Ergil Grup Makina İmalat Sanayi ve Ticaret A.Ş., Alloy Products Corporation, GEA Group Aktiengesellschaft, IHI Plant Services Corporation, Fabrication Services, Inc., Engineered Pressure Systems, Inc., ANDRITZ Aktiengesellschaft, Sumitomo Heavy Industries, Ltd., Nooter/Eriksen, Inc., NuScale Power, LLC, Zhejiang Shengda Steel Tower Co., Ltd.

Global Pressure Vessel Market Trends and Insights

Major companies operating in the pressure vessel market are focusing on developing innovative products such as high-pressure hydrogen storage vessels to support the growing adoption of hydrogen-powered mobility and ensure safe, efficient on-board fuel storage. High-pressure hydrogen storage vessels refer to advanced composite or metal-lined containers engineered to store hydrogen gas at extremely high pressures while maintaining structural integrity, safety, and lightweight performance for transportation and industrial applications. For instance, in September 2024, NPROXX, a Netherlands-based company that offers hydrogen storage solutions, launched the AH620-70 hydrogen pressure vessel, designed to operate at a pressure of 700 bar. This vessel targets the heavy vehicle market, including long-haul trucks and the automotive sector. It complies with strict regulations such as R134 and HGV2, ensuring safety and reliability for hydrogen storage applications. The AH620-70 features a lightweight design that enhances the efficiency and range of hydrogen-powered vehicles, marking a significant advancement in sustainable transportation solutions.

What Are Latest Mergers And Acquisitions In The Pressure Vessel Market?

In April 2024, BEA Technologies, an Italy-based company that produces automatic filtration systems acquired TECNO INOX for an undisclosed amount. With this acquisition, BEA Technologies aims to leverage TECNO INOX’s expertise in stainless steel pressure vessels to enhance its automatic filtration system offerings, expanding its product portfolio for applications in diverse industries such as food, beverage, and pharmaceuticals while improving manufacturing processes and quality standards. TECNO INOX is an Italy-based company that offers pressure vessels.

What Defines the Pressure Vessel Market?

The pressure vessel market consists of sales of glassware, autoclaves, compressed gas cylinders, compressors and vacuum chambers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Pressure Vessel Market Report 2026?

The pressure vessel market research report is one of a series of new reports from The Business Research Company that provides market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the pressure vessel industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.