Pressure Vessels Supplier & Cost Intelligence Report, 2030

Pressure Vessels Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

  • Published Date: ---
  • Base Year for Estimate: 2022
  • Report ID: GVR-P-UC-035
  • Format: Electronic (PDF)
  • Historical Data: 2020 - 2021
  • Number of Pages: 0

Pressure Vessels Category Overview

The global pressure vessels category is anticipated to grow at a CAGR of 3.8% from 2023 to 2030. Growth of the category can be attributed to rising industrialization, growing energy demand, rising adoption of supercritical power generation technologies, rise of chemical & petrochemical sectors, and stringent government regulations & policies for safely transfer of gases and chemicals. The product offered in the category witnesses significant application in chemical & petrochemical sector.Pressure vessels are required for a variety of processing operations in the sector, such as chemical storage, mixing, distillation, and chemical reactions.The demand for novel, tailored compounds that fulfil certain needs and provide improved functionality is what is causing this change. However, high cost involved in the manufacturing and maintenance of pressure vessels as it requires specialized design & engineering would hinder the growth of the global category.

Key technologies that are transforming the manufacturing of pressure vessels include artificial intelligence (AI), 3D printing, robotics & automation, industry internet of things (IIoT), and augmented reality (AR). AI’s ability to evaluate enormous volumes of data in real-time is one of the most important advantages for manufacturing.AI algorithms can swiftly process and analyze data to detect patterns and trends, assisting manufacturers in understanding how production processes are operating. This is made possible by Industrial Internet of Things (IIoT) devices and sensors that gather data from machines, equipment, and production lines. 3D printing (also known as additive manufacturing), on the other hand, has altered the way businesses design, prototype, and produce goods. It enables manufacturers to cut production time & costs and developcomplicated geometries in a single step. In addition, it also enables manufacturers in producing spare parts as needed, which lowers the requirement for big inventories and boosts supply chain effectiveness.

The category for pressure vessels exhibits a fragmented landscape, with the presence of large number of global and regional small-scale and large-scale market players. Players in the industry are making significant investments in research & developments to enhance their product portfolio which will support the growth of global category. In addition, they are adopting a wide range of strategic initiatives to increase their market share, such as introduction of new products, mergers and acquisitions, contract-based agreements, and joint ventures. Furthermore, in order to reduce operational expenses and benefit their client, the players are opting the strategy of manufacturing locally. The category possesses low threat of new entrants as manufacturing pressure vessels require significant initial investments, team of skilled workforce, and constant pressure of increased raw material prices as the raw materials are commodities which are typically volatile to market conditions.

Cost of raw materials (steel, aluminium, nickel, titanium, etc.), labor costs, energy costs, and transportation costs are the key components of this category. Prices of raw materials, particularly steel or aluminium directly impacts the price of pressure vessels since the prices of these commodities are volatile and keeps on fluctuating, thus influencing the cost of production. In addition, besides the price of raw materials, the cost of production also gets affected by factors such as location of the manufacturing facility, quality control measures, regulatory compliance, design complexity, and size. To arrive at a cost estimate that complies with project specifications and safety regulations, manufacturers and project planners carefully weigh these elements and collaborate closely with skilled engineers and fabricators. The price for smaller vessels range between USD 9,500 - USD 39,500, whereas the price for larger vessels range between USD 99,500 - USD 999,500.

Asia-Pacific region dominates the global pressure vessels category, holding over 37.1% of global market share. The region is witnessing significant growth owing to the substantial investments being made by the business enterprises and the governments in refining and power sector which makes high demand for product offered in the category. In addition, nations such as India and China have several upcoming and ongoing projects that require the usage of industry products. For instance, the growth rate for the demand of power in India is anticipated to be doubled in the next 4 - 5 years. Closing the gap between the region's consumption and demand for energy is the driving force behind these projects. Assessing if a supplier can offer the vessel made by the required material to meet the end-use application, evaluating if the design of the vessel offered by a specific supplier can withstand rigorous usage, reviewing the documents to ensure that the product adheres to the quality standards set be certification authorities, and comparing the prices offered by multiple suppliers are some of the best sourcing practices considered in this category.

Pressure Vessels Procurement Intelligence Report Scope

Report Attribute


Pressure Vessels Category Growth Rate

CAGR of 3.8% from 2023 to 2030

Base Year for Estimation


Pricing Growth Outlook

5% - 10% decrease (Annually)

Pricing Models

Cost-plus pricing, Fixed pricing

Supplier Selection Scope

Cost and pricing, Past engagements, Productivity, Geographical presence

Supplier Selection Criteria

Geographic service provision, years in service, certifications, type of product (boiler / separator / reactor / others), application (storage vessel / processing vessel / others), product heat source (fired / unfired), pressure handling capability, technical support, regulatory compliance, and others

Report Coverage

Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key Companies Profiled

Äager GmbH, Alfa Laval Corporate AB, ANDRITZ AG, Babcock & Wilcox Enterprises, Inc., Doosan Enerbility Co., Ltd., Frames Group B.V., GEA Group AG, General Electric Company, Hitachi Zosen Corporation, IHI Plant Services Corporation, Larsen & Toubro Limited, and Samuel, Son & Co., Ltd.

Regional Scope


Revenue Forecast in 2030

USD 75.68 billion

Historical Data

2020 - 2021

Quantitative Units

Revenue in USD billion and CAGR from 2023 to 2030

Customization Scope

Up to 48 hours of customization free with every report.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Frequently Asked Questions About This Report

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Add-on Services

Should Cost Analysis

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Rate Benchmarking

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Salary Benchmarking

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

Supplier Newsletter

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

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