Global High Pressure Vessels Market Overview:
High pressure vessel is a container that has the capacity to hold high-pressure gases and liquids. These vessels are widely used in industries such as oil and gas, chemicals, nuclear reactor vessels, and others. The water, castor oil, silicon oil, sodium benzoate, ethanol, and glycol are some of the pressure transmitting media used in a high pressure vessel. These vessels are generally manufactured from curved sheets. The increasing demand in oil, gas and chemical industries leads to the growing demand in high pressure vessels.
Growth Drivers
- Increasing Use of High Pressure Vessels in Oil and Gas Industries
- Use for Storing Liquids and Gases Under High Pressure
Roadblocks
- High Cost of Equipment Used in Manufacturing of High Pressure Vessel
Opportunities
- Development of Ultrahigh Strength Vessel
- Growing Use of Steel Based High Pressure Vessel
Challenges
- Regular Maintenance and Stringent Inspection Procedures
Competitive Landscape:
Some of the key players profiled in the report are Larsen & Toubro Ltd (India), Mitsubishi Heavy Industries, Ltd (Japan), Doosan Heavy Industries and Construction (South Korea), Bharat Heavy Electricals Ltd. (India), General electric co (United States), Haskel (United States), IHI Corporation (Japan), Halvorsen (United States), Samuel pressure vessel group (United States), Dongfang electric machinery co. ltd (China) and Babcock and Wilcox Enterprises (United States). Analyst at AMA Research see United States and Asia Pacific Players to retain maximum share of Global High Pressure Vessels market by 2027. Considering Market by End-User Industry, the sub-segment i.e. Chemical Industry will boost the High Pressure Vessels market. Considering Market by Shape, the sub-segment i.e. Cylindrical will boost the High Pressure Vessels market. Considering Market by Materials, the sub-segment i.e. Alloy steels will boost the High Pressure Vessels market.
In September 2019, Voith Composites, a manufacturer of glass and carbon fibers entered into the partnership with Henguri Corporation (HRC), a manufacturer of composite products to work on the next generation of hydrogen high pressure vessels for fuel cell electric vehicles. and In December 2018, Hexagon, an international gas fuel solution provider received the approval from United States Department of Transportation for the high pressure vessel hydrogen transport system.
What Can be Explored with the High Pressure Vessels Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global High Pressure Vessels Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in High Pressure Vessels
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global High Pressure Vessels market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in High Pressure Vessels market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners and Providers, Raw Material Suppliers, Pressure vessels Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.