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Pressure Vessel Market Size And Revenue Outlook Through 2030
The pressure vessel market has experienced substantial growth in recent years. It is projected to increase from $41.37 billion in 2025 to $43.56 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 5.3%. The historical expansion of this market can be attributed to several factors, including the growth in oil and gas processing facilities, the expansion of power generation infrastructure, the demand for industrial storage solutions, the adoption of pressure-based chemical processing methods, and the ongoing development of boiler and reactor technologies.
The pressure vessel market is projected to experience robust expansion over the coming years. Its valuation is anticipated to reach $53.66 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 5.4%. This projected increase can be ascribed to factors such as the energy transition and the need for hydrogen storage, the proliferation of renewable and clean energy initiatives, more stringent industrial safety protocols, the expansion within chemical and pharmaceutical production, and greater capital expenditure in industrial infrastructure. Key developments during this period will involve an escalating requirement for high-capacity pressure vessels, the increasing use of sophisticated alloy and composite materials, a heightened emphasis on safety and adherence to regulations, the broadening application of pressure vessels in energy storage, and the incorporation of intelligent monitoring and inspection systems.
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Pressure Vessel Market Industry Drivers: What’s Behind The Revenue Growth?
The growing integration of renewable energy sources notably contributes to the expansion of the pressure vessel market. These energies originate from natural resources that regenerate faster than their consumption rate. Pressure vessels are essential in renewable energy applications, especially for the storage and application of diverse gases. Furthermore, they are utilized for holding and moving hydrogen, a critical component in producing green hydrogen for fuel cells and other clean energy solutions. As an illustration, in December 2023, reports from the Department for Energy Security and Net Zero, a UK-based government department, indicated that in Quarter 3 of 2023, renewable electricity generation attained 30.1 TWh. This represented a 6.8% rise from 2022, alongside an additional 2.9 GW of new renewable capacity, driven by a considerable increase in solar PV and wind installations, resulting in renewables accounting for 44.5% of overall electricity generation. Consequently, the heightened integration of renewable energy sources is anticipated to drive forward the expansion of the pressure vessel market.
Pressure Vessel Market Segment Landscape: Which Areas Lead Development?
The pressure vessel market covered in this report is segmented –
1) By Type: Boiler, Reactor, Separator
2) By Heat Source: Fired, Unfired
3) By Material Type: Steel Alloys, Composites, Other Material Types
4) By Application: Storage Vessels, Processing Vessels
5) By End-User Channel: Power, Oil And Gas, Food And Beverages, Pharmaceuticals, Chemicals, Other End-User Channels
Subsegments:
1) By Boiler: Water-Tube Boilers, Fire-Tube Boilers
2) By Reactor: Batch Reactors, Continuous Reactors
3) By Separator: Gas-Liquid Separators, Liquid-Liquid Separators
Pressure Vessel Market Growth Trends Reshaping The Competitive Landscape
Leading firms within the pressure vessel market are concentrating on creating cutting-edge products, specifically high-pressure hydrogen storage vessels, aimed at facilitating the increasing embrace of hydrogen-powered mobility and guaranteeing secure, effective on-board fuel storage. These high-pressure hydrogen storage vessels are defined as sophisticated composite or metal-lined containers specifically engineered to hold hydrogen gas under extremely high pressures, all while preserving structural integrity, safety, and lightweight characteristics crucial for both transportation and industrial uses. An illustration of this trend occurred in September 2024, when NPROXX, a Netherlands-based provider of hydrogen storage solutions, unveiled the AH620-70 hydrogen pressure vessel, engineered to function at a pressure of 700 bar. The AH620-70 is aimed at the heavy vehicle market, encompassing long-haul trucks and the broader automotive sector. It adheres to stringent regulations like R134 and HGV2, thereby guaranteeing safety and dependability for its hydrogen storage purposes. Its lightweight construction improves the efficiency and operational range of hydrogen-powered vehicles, representing a notable leap forward in sustainable transportation solutions.
Pressure Vessel Market Industry Leaders And Competitive Landscape
Major companies operating in the pressure vessel market are General Electric Company, Larsen & Toubro Limited, Mitsubishi Hitachi Power Systems, Ltd., Hitachi Zosen Corporation, Bharat Heavy Electricals Limited, Samuel Pressure Vessel Group (Samuel, Son & Co., Limited), Halvorsen Company, Inc., Doosan Heavy Industries & Construction Co., Ltd., Dongfang Turbine Co., Ltd., Westinghouse Electric Company LLC, Ergil Grup Makina Imalat Sanayi ve Ticaret A.S., Alloy Products Corporation, GEA Group Aktiengesellschaft, IHI Plant Services Corporation, Fabrication Services, Inc., Engineered Pressure Systems, Inc., ANDRITZ Aktiengesellschaft, Sumitomo Heavy Industries, Ltd., Nooter/Eriksen, Inc., NuScale Power, LLC, Zhejiang Shengda Steel Tower Co., Ltd.
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Pressure Vessel Market Regional Breakdown: Where Is Demand Concentrated?
North America was the largest region in the pressure vessel market share in 2025. Western Europe was the second-largest region in the pressure vessel market analysis. The regions covered in the pressure vessel market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
