Pressure Vessels Market Size, Share, Trends, Growth Outlook

The global Pressure Vessels Market is poised to register a 4.8% CAGR from $53.1 Billion in 2024 to $70.3 Billion in 2030.

The global Pressure Vessels Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Type (Boilers, Separators, Reactors, Others), By Heat Source (Fired Pressure Vessels, Unfired Pressure Vessels), By Application (Storage Vessels, Processing Vessels), By End-User (Power, Oil & Gas, Food & Beverages, Pharmaceuticals, Chemicals, Others).

An Introduction to Global Pressure Vessels Market in 2024

The pressure vessels market is witnessing steady growth driven by the expanding oil and gas, chemical, and power generation industries' need for safe and reliable containment solutions for storing and transporting hazardous fluids and gases at high pressures. Key trends shaping the future of the industry include the adoption of advanced materials, such as high-strength alloys and composites, to enhance vessel durability, corrosion resistance, and weight reduction. Moreover, technological innovations in vessel design, fabrication, and inspection, such as automated welding, non-destructive testing, and predictive maintenance, are improving operational efficiency, safety, and regulatory compliance. Additionally, the growing demand for hydrogen storage and carbon capture technologies is driving investments in large-scale pressure vessels for energy storage and environmental applications, further fueling market expansion. As industry players focus on enhancing product quality, reliability, and cost-effectiveness, the pressure vessels market is poised for sustained growth and innovation to meet evolving customer needs and regulatory requirements.

Pressure Vessels Market Competitive Landscape

The market report analyses the leading companies in the industry including Alfa Laval, Babcock & Wilcox Enterprises Inc, Bharat Heavy Electricals Ltd, Bumhan Mecatec, Dongfang Turbine Co. Ltd, ERGIL, General Electric Company, Gladwin Tank, Halliburton, Halvorsen Company, Hitachi Zosen Corp, IHI Corp, Kelvion Holding GmbH, Larsen & Toubro Ltd, Mitsubishi Hitachi Power Systems Ltd, Pressure Vessels, Robinson Pipe & Vessel, Samuel, Son & Co., VI Flow, Westinghouse Electric Company.

Pressure Vessels Market Dynamics

Pressure Vessels Market Trend: Adoption of Advanced Materials and Manufacturing Techniques

A prominent trend in the pressure vessels market is the adoption of advanced materials and manufacturing techniques. As industries such as oil and gas, chemical processing, and power generation demand pressure vessels that can withstand high pressures, temperatures, and corrosive environments, there is a growing interest in utilizing advanced materials such as high-strength alloys, composite materials, and advanced ceramics. Additionally, advancements in manufacturing technologies such as additive manufacturing (3D printing), automated welding, and robotic fabrication enable the production of complex pressure vessel designs with improved performance, reliability, and efficiency. This trend towards the use of advanced materials and manufacturing techniques is reshaping the pressure vessel industry, driving innovation and offering opportunities for enhanced product capabilities and cost-effective manufacturing solutions.

Pressure Vessels Market Driver: Growth in Energy and Petrochemical Industries

A key driver for the pressure vessels market is the growth in energy and petrochemical industries. The expansion of oil and gas exploration and production activities, coupled with increasing investments in renewable energy projects and petrochemical manufacturing, drives the demand for pressure vessels used in various applications such as storage, separation, and processing of fluids and gases. Pressure vessels play a critical role in ensuring the safe containment and transportation of volatile substances such as natural gas, crude oil, and industrial chemicals, supporting operations in refineries, chemical plants, power plants, and LNG (liquefied natural gas) terminals. As energy demand continues to rise globally and the petrochemical sector expands to meet growing consumer needs, the demand for pressure vessels is expected to remain strong, supporting market growth and investment in new infrastructure projects.

Pressure Vessels Market Opportunity: Expansion into Emerging Markets and Applications

An opportunity within the pressure vessels market lies in expansion into emerging markets and applications. While traditional sectors such as oil and gas, chemical processing, and power generation remain major consumers of pressure vessels, there are untapped opportunities in emerging industries and applications such as renewable energy storage, hydrogen fuel cells, and aerospace propulsion systems. Pressure vessels are essential components in technologies such as compressed air energy storage (CAES), hydrogen storage tanks, and rocket propulsion systems, where reliability, safety, and performance are paramount. By diversifying into these emerging markets and collaborating with technology innovators, pressure vessel manufacturers can capitalize on new growth opportunities, expand their market reach, and position themselves as key players in the evolving landscape of energy storage and transportation technologies.

Pressure Vessels Market Share Analysis: Boilers segment generated the highest revenue in the industry

The Boilers segment is the largest segment in the Pressure Vessels Market due to diverse key factors contributing to its dominance. Boilers are essential components in various industrial processes, energy generation, and heating systems, making them indispensable across a wide range of industries such as power generation, oil and gas, chemical processing, food and beverage, and pharmaceuticals. One of the primary reasons for the dominance of the Boilers segment is the critical role boilers play in steam generation, which is a fundamental requirement in many industrial processes for heating, sterilization, power generation, and mechanical work. Boilers are used to convert water into steam by applying heat from combustion sources such as fossil fuels, biomass, or electricity, which is then utilized in various applications such as power generation in steam turbines, heating in industrial processes, and space heating in buildings. Additionally, boilers are integral components in combined heat and power (CHP) systems, where they generate steam for electricity generation while simultaneously providing thermal energy for heating or cooling purposes, enhancing Over the forecast period energy efficiency and resource utilization. In addition, the versatility of boilers allows for their adaptation to different fuel sources, operating conditions, and process requirements, making them suitable for diverse applications and industries worldwide. Further, the growing demand for energy, stringent regulations on emissions, and the need for sustainable energy solutions drive investments in boiler technologies that offer higher efficiency, lower emissions, and improved reliability. As industries continue to prioritize efficiency, safety, and environmental sustainability, the demand for boilers in the Pressure Vessels Market is expected to remain strong, solidifying the Boilers segment as the largest segment. Additionally, ongoing advancements in boiler design, materials, controls, and combustion technologies further enhance their performance, reliability, and environmental compatibility, driving their market dominance across various end-use sectors.

Pressure Vessels Market Share Analysis: Fired Pressure Vessels Segment is poised to register the fastest growth rate (CAGR) over the forecast period to 2030

The Fired Pressure Vessels segment is the fastest growing segment in the Pressure Vessels Market due to diverse key factors driving its rapid expansion. Fired pressure vessels, also known as fired heaters or boilers, are vessels that contain a fluid and are heated externally using a direct-fired burner or an indirect heat source such as a furnace or combustion chamber. One of the primary reasons for the rapid growth of the Fired Pressure Vessels segment is the increasing demand for energy, particularly in industries such as oil and gas, petrochemicals, refining, and power generation. Fired pressure vessels play a critical role in these industries for various applications such as steam generation, process heating, thermal cracking, and distillation. Additionally, the resurgence of investment in oil and gas exploration and production activities, particularly in regions with abundant shale resources, drives the demand for fired pressure vessels used in drilling, well completion, and production processes. In addition, the growing adoption of alternative and renewable fuels such as natural gas, biomass, and hydrogen for fired pressure vessels contributes to their market growth, driven by environmental regulations, energy transition initiatives, and sustainability goals. Further, advancements in combustion technologies, control systems, and materials enable fired pressure vessels to achieve higher efficiency, lower emissions, and improved reliability, meeting stringent performance and environmental requirements. As industries seek to optimize energy efficiency, reduce operating costs, and minimize environmental impact, the demand for fired pressure vessels is expected to surge, making the Fired Pressure Vessels segment the fastest growing segment in the Pressure Vessels Market. Additionally, ongoing innovations in fired pressure vessel design, integration with renewable energy systems, and digitalization of operations further enhance their competitiveness and applicability in diverse industrial sectors, driving their market expansion and adoption.

Pressure Vessels Market Share Analysis: Processing Vessels Segment is poised to register the fastest growth rate (CAGR) over the forecast period to 2030

The Processing Vessels segment is the fastest growing segment in the Pressure Vessels Market due to diverse key factors driving its rapid expansion. Processing vessels play a crucial role in various industrial processes where containment and manipulation of fluids, gases, or solids are necessary for chemical reactions, mixing, separation, purification, or other processing operations. One of the primary reasons for the rapid growth of the Processing Vessels segment is the increasing demand for customized and specialized vessels tailored to specific processing requirements in industries such as chemical manufacturing, pharmaceuticals, food and beverage, biotechnology, and semiconductor fabrication. Processing vessels are utilized in a wide range of applications such as reactors, fermenters, crystallizers, evaporators, distillation columns, separators, and mixers, where they facilitate precise control over temperature, pressure, agitation, and residence time to achieve desired product quality, yield, and efficiency. Additionally, advancements in materials, design, and fabrication technologies enable the development of processing vessels capable of handling corrosive, abrasive, or high-purity fluids, as well as operating under extreme conditions such as high pressure or vacuum. In addition, the growing emphasis on process optimization, quality assurance, and regulatory compliance drives investments in processing vessels equipped with advanced features such as automation, monitoring, and safety systems, enhancing operational reliability and productivity. Further, the expansion of industries such as pharmaceuticals, biotechnology, and specialty chemicals, which require sophisticated processing equipment to produce high-value products with stringent quality standards, fuels the demand for processing vessels. As industries strive for innovation, efficiency, and sustainability in their manufacturing processes, the demand for processing vessels tailored to specific applications and process requirements is expected to surge, making the Processing Vessels segment the fastest growing segment in the Pressure Vessels Market. Additionally, ongoing advancements in processing technologies, such as continuous manufacturing, modular process systems, and bioprocessing, further drive the adoption of specialized processing vessels, driving market growth and expansion.

Pressure Vessels Market Report Segmentation

By Type
Boilers
Separators
Reactors
Others
By Heat Source
Fired Pressure Vessels
Unfired Pressure Vessels
By Application
Storage Vessels
Processing Vessels
By End-User
Power
Oil & Gas
Food & Beverages
Pharmaceuticals
Chemicals
Others
Regions Included
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)

Pressure Vessels Companies Profiled in the Market Study

Alfa Laval
Babcock & Wilcox Enterprises Inc
Bharat Heavy Electricals Ltd
Bumhan Mecatec
Dongfang Turbine Co. Ltd
ERGIL
General Electric Company
Gladwin Tank
Halliburton
Halvorsen Company
Hitachi Zosen Corp
IHI Corp
Kelvion Holding GmbH
Larsen & Toubro Ltd
Mitsubishi Hitachi Power Systems Ltd
Pressure Vessels
Robinson Pipe & Vessel
Samuel, Son & Co.
VI Flow
Westinghouse Electric Company
*- List Not Exhaustive

TABLE OF CONTENTS

1 Introduction to 2024 Pressure Vessels Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain

2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations

3 Executive Summary
3.1 Global Pressure Vessels Market Size Outlook, $ Million, 2021 to 2030
3.2 Pressure Vessels Market Outlook by Type, $ Million, 2021 to 2030
3.3 Pressure Vessels Market Outlook by Product, $ Million, 2021 to 2030
3.4 Pressure Vessels Market Outlook by Application, $ Million, 2021 to 2030
3.5 Pressure Vessels Market Outlook by Key Countries, $ Million, 2021 to 2030

4 Market Dynamics
4.1 Key Driving Forces of Pressure Vessels Industry
4.2 Key Market Trends in Pressure Vessels Industry
4.3 Potential Opportunities in Pressure Vessels Industry
4.4 Key Challenges in Pressure Vessels Industry

5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Pressure Vessels Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook

6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts

7 Global Pressure Vessels Market Outlook by Segments
7.1 Pressure Vessels Market Outlook by Segments, $ Million, 2021- 2030
By Type
Boilers
Separators
Reactors
Others
By Heat Source
Fired Pressure Vessels
Unfired Pressure Vessels
By Application
Storage Vessels
Processing Vessels
By End-User
Power
Oil & Gas
Food & Beverages
Pharmaceuticals
Chemicals
Others

8 North America Pressure Vessels Market Analysis and Outlook To 2030
8.1 Introduction to North America Pressure Vessels Markets in 2024
8.2 North America Pressure Vessels Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Pressure Vessels Market size Outlook by Segments, 2021-2030
By Type
Boilers
Separators
Reactors
Others
By Heat Source
Fired Pressure Vessels
Unfired Pressure Vessels
By Application
Storage Vessels
Processing Vessels
By End-User
Power
Oil & Gas
Food & Beverages
Pharmaceuticals
Chemicals
Others

9 Europe Pressure Vessels Market Analysis and Outlook To 2030
9.1 Introduction to Europe Pressure Vessels Markets in 2024
9.2 Europe Pressure Vessels Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Pressure Vessels Market Size Outlook by Segments, 2021-2030
By Type
Boilers
Separators
Reactors
Others
By Heat Source
Fired Pressure Vessels
Unfired Pressure Vessels
By Application
Storage Vessels
Processing Vessels
By End-User
Power
Oil & Gas
Food & Beverages
Pharmaceuticals
Chemicals
Others

10 Asia Pacific Pressure Vessels Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Pressure Vessels Markets in 2024
10.2 Asia Pacific Pressure Vessels Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Pressure Vessels Market size Outlook by Segments, 2021-2030
By Type
Boilers
Separators
Reactors
Others
By Heat Source
Fired Pressure Vessels
Unfired Pressure Vessels
By Application
Storage Vessels
Processing Vessels
By End-User
Power
Oil & Gas
Food & Beverages
Pharmaceuticals
Chemicals
Others

11 South America Pressure Vessels Market Analysis and Outlook To 2030
11.1 Introduction to South America Pressure Vessels Markets in 2024
11.2 South America Pressure Vessels Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Pressure Vessels Market size Outlook by Segments, 2021-2030
By Type
Boilers
Separators
Reactors
Others
By Heat Source
Fired Pressure Vessels
Unfired Pressure Vessels
By Application
Storage Vessels
Processing Vessels
By End-User
Power
Oil & Gas
Food & Beverages
Pharmaceuticals
Chemicals
Others

12 Middle East and Africa Pressure Vessels Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Pressure Vessels Markets in 2024
12.2 Middle East and Africa Pressure Vessels Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Pressure Vessels Market size Outlook by Segments, 2021-2030
By Type
Boilers
Separators
Reactors
Others
By Heat Source
Fired Pressure Vessels
Unfired Pressure Vessels
By Application
Storage Vessels
Processing Vessels
By End-User
Power
Oil & Gas
Food & Beverages
Pharmaceuticals
Chemicals
Others

13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Alfa Laval
Babcock & Wilcox Enterprises Inc
Bharat Heavy Electricals Ltd
Bumhan Mecatec
Dongfang Turbine Co. Ltd
ERGIL
General Electric Company
Gladwin Tank
Halliburton
Halvorsen Company
Hitachi Zosen Corp
IHI Corp
Kelvion Holding GmbH
Larsen & Toubro Ltd
Mitsubishi Hitachi Power Systems Ltd
Pressure Vessels
Robinson Pipe & Vessel
Samuel, Son & Co.
VI Flow
Westinghouse Electric Company

14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise

By Type
Boilers
Separators
Reactors
Others
By Heat Source
Fired Pressure Vessels
Unfired Pressure Vessels
By Application
Storage Vessels
Processing Vessels
By End-User
Power
Oil & Gas
Food & Beverages
Pharmaceuticals
Chemicals
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)