Market research Future Pressure Vessel Market 2018 Global Share, Trend. | Page 2

Pressure vessel market Research Report- Forecast to 2023
1 Summary
The Pressure Vessel Market is expected to grow over the CAGR of around 6% during the period 2017 to
2023.
Pressure vessels are manufactured according to standard regulations and their applications. As pressure
vessels are widely used for storing liquids and gases at high pressure, the high internal pressure bearing
capacity of the pressure vessel acts is the main feature driving pressure vessel market. Highly reactive
chemical compounds need a proper medium for transportation, which modern pressure vessels provides it,
as design parameters such as safe operating pressure & temperature, safety factor and corrosion allowance
accounts for it. The current manufacturing techniques under intensive R&D, nondestructive testing and
under the guidelines of government, have reduced the pressure vessel related accidents.
Key Players:
The key players of Global Pressure Vessel Market are Babcock and Wilcox Enterprises, Inc. (U.S.A),
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 (U.S.A), Halvorsen (Norway), IHI Corporation (Japan),
Pressure Vessels (India), Samuel Pressure Vessel Group. (U.S.A), Westinghouse Electric Company LLC.
(U.S.A) and others.
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