MRO Magazine

Pressure Vessel Market Worth $184.87 Billion by 2021 – Huge Electricity Demand & Industrialization in Different Regions – Research and Markets


May 17, 2016
By Business Wire News

DUBLIN

Research and Markets has announced the addition of the “Pressure Vessel Market by End-User Industry (Chemicals, Oil & Gas, Power, & Others), by Type (Boilers, Nuclear Reactors, Separators, & Others), by Material, & by Region – Global Forecast to 2021” report to their offering.

The pressure vessel market is expected to reach USD 184.87 Billion by 2021, at a CAGR of 5.38% from 2016 to 2021. The growth of this market is attributed to huge electricity demand and industrialization in different regions. Investments for renewable power generation in Asia-Pacific and North American countries have been planned to meet the rising power demand, which in turn are going to boost the demand for pressure vessels.

Meanwhile, Asia-Pacific is expected to be the largest market for pressure vessels during the forecast period. With electricity demand going up in the region, substantial investments in the power sector have been made, which are expected to boost the demand for pressure vessels.

At present, the pressure vessel has high acceptance due to its unique properties and for being a highly customized product. However, factors such as mining industry slowdown and the declining upstream oil & gas industry are restraining the growth of this market. There has been a stagnant growth in the global upstream oil & gas industry, resulting in countries shifting their focus and investments in other industries to diversify revenue stream. The slowdown in the mining as well as upstream oil & gas industries is expected to have a negative impact on the pressure vessel market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Technical Overview

6 Market Overview

7 Pressure Vessel Market, By Material

8 Pressure Vessel Market, By Type

9 Pressure Vessel Market, By End-User Industry

10 Pressure Vessel Market, By Region

11 Competitive Landscape

12 Company Profiles

Companies Mentioned:

  • Babcock And Wilcox Enterprises, Inc.
  • Doosan Heavy Industries & Construction
  • Mitsubishi Heavy Industries, Ltd.
  • Bharat Heavy Electricals Limited
  • Larsen & Toubro Limited
  • Dongfang Electric Machinery Co., Ltd.
  • General Electric
  • Halvorsen
  • IHI Corporation
  • Pressure Vessels (India)
  • Samuel Pressure Vessel Group
  • Westinghouse Electric Company Llc.

For more information visit http://www.researchandmarkets.com/research/72bcgm/pressure_vessel

Research and Markets
Laura Wood, Senior Manager
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