Pressure Vessels Market To Reach $75,818.4 Million By 2030

Pressure Vessels Market Growth & Trends

The global pressure vessels market size is estimated to reach USD 75,818.4 million by 2030, registering to grow at a CAGR of 4.0% from 2025 to 2030, according to a new report by Grand View Research, Inc. The growing demand for pressure vessels in chemical & petrochemical and oil & gas industries is expected to drive market growth.

Pressure vessels are containers used to hold high-pressure gases and liquids in various application industries including petrochemicals, chemicals, natural gas storage systems, nuclear reactor vessels, distillation towers, and hot water storage tanks. The ever-increasing need for energy is anticipated to propel the product demand in various application industries.

Increasing chemical demand from various end-use industries is encouraging new capital investment in chemical industry. The production capacity of chemicals is expected to increase on account of setting up of new chemical facilities. This is expected to augment the demand for various types of pressure vessels and storage tanks used in different chemical processes.

The global market is fragmented with major companies striving for market leadership. Key players focus on forward integration to maximize their profits and expand their regional presence across the globe. In addition, manufacturers are expected to tie up with engineering solution providers to deliver high-quality product solutions at affordable prices.

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Pressure Vessels Market Report Highlights

• The steel segment dominated the global pressure vessels industry and accounted for the largest revenue share of 29.7% in 2024.

• The boiler segment led the market and accounted for the largest revenue share of 59.4% in 2024, primarily driven by the increasing demand for efficient energy generation and industrial processes.

• The chemicals and petrochemicals segment held the dominant position in the market, with the largest revenue share of 38.6% in 2024, driven by the rising demand for various chemicals and plastics.

• The Asia Pacific pressure vessels market dominated the global market and accounted for the largest revenue share of 36.1% in 2024.

Pressure Vessels Market Segmentation

Grand View Research has segmented the global pressure vessels market based on material, product type, end-use, and region:

Pressure Vessels Material Outlook (Revenue, USD Million, 2018 - 2030)

• Titanium

• Nickel & Nickel Alloys

• Tantalum

• Steel

  • Carbon Steel

  • Stainless Steel

• Others

Pressure Vessels Product Type Outlook (Revenue, USD Million, 2018 - 2030)

• Boiler

• Nuclear Reactor

• Separator

• Others

Pressure Vessels End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Chemicals & Petrochemicals

• Oil & Gas

• Power Generation

• Others

Pressure Vessels Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Italy

  • Germany

  • Spain

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

  • UAE

List of Key Players in Pressure Vessels Market

• IHI Corporation

• Babcock & Wilcox Enterprises, Inc.

• Pressure Vessels (India)

• MITSUBISHI HEAVY INDUSTRIES, LTD.

• Samuel, Son & Co.

• Alloy Products Corp.

• Abbott Pressure Vessels

• Doosan Corporation

• Bharat Heavy Electricals Limited

• LARSEN & TOUBRO LIMITED

• MERSEN PROPERTY

• Xylem

• Tinita Engg Pvt. Ltd

• WCR Inc.