Pressure Vessels Market Size, Share, Growth Analysis, By Material(Steel Alloys, Other alloys, Composites), By Product(Boilers, Nuclear reactors, Separators, and Others), By Application(Oil and gas, Chemicals, Power generation, and Others), By Region - Industry Forecast 2024-2031

A diverse array of manufacturers and industry participants vying for a market share in the busting market defines the competitive scene of the global pressure vessel market. In order to retain their competitive advantage, these players partake in product innovation, strategic partnerships, mergers, and purchases. The market’s competitive nature is a direct result of the climbing demand for uber quality pressure vessels across several sectors like oil and gas, energy, and chemicals.

As the safe and effectiveness of the product still play a vital role in market growth, manufacturers are focusing on producing novel materials and concepts that are in line with the strict requirements and regulations.The growing emphasis placed on sustainability is also changing market practices, pushing businesses to bring forward pressure vessel solutions which are green and energy efficient. Overall, in the global pressure vessel market, the key to success lies with innovation, legal compliance, and evolving industry knowledge.

Top Player’s Company Profiles

• Babcock and Wilcox Enterprises, Inc. (US)

• 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 (US)

• Halvorsen (Norway)

• IHI Corporation (Japan)

• Pressure Vessels (India)

• Samuel Pressure Vessel Group (US)

• Westinghouse Electric Company LLC (US)

• Foster Wheeler AG (Switzerland)

• Thyssenkrupp AG (Germany)

• CBI (Chicago Bridge & Iron) (US)

• SPVG (South Korea)

• CIMC (China)

• Sumitomo Heavy Industries Ltd. (Japan)

• McDermott International, Inc. (US)

• Kelvion Holding GmbH (Germany)