Pressure Vessel Market Outlook: Industrial Expansion and Energy Infrastructure Growth Opportunities

Global Pressure Vessel Market to Reach USD 35.32 Billion, Driven by Rising Energy Demand and Industrial Expansion According to IMARC Group's latest research publication, The global pressure vessel market size was valued at USD 25.35 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 35.32 Billion by 2033, exhibiting a CAGR of 3.57% from 2025-2033.

How AI is Reshaping the Future of the Pressure Vessel Market

• Predictive Maintenance and Early Problem Detection: AI-based sensors are installed on pressure vessels to constantly check important factors like pressure, temperature, and stress. These smart systems can quickly notice unusual changes and warn operators before a serious problem happens. By identifying issues early, companies can avoid sudden equipment failures and reduce unexpected downtime by up to 30% in heavy industrial plants.
• Smarter Design and Testing: Machine learning helps engineers design better pressure vessels from the beginning. AI software studies different design options and selects the best shape, wall thickness, and materials based on operating conditions. This reduces the need for multiple physical prototypes and improves the vessel’s strength and safety, especially in high-pressure or extreme temperature environments.
• Continuous Safety Monitoring and Standards Compliance: AI-powered inspection systems help companies meet safety standards such as ASME and PED. These systems use computer vision to examine weld joints, detect corrosion, and identify surface defects. Compared to manual inspections, AI can work faster and provide more accurate results, helping ensure safety and regulatory compliance.

Explore Updated 2026 Market Trends & Analysis

Pressure Vessel Industry Overview

The Pressure Vessel Industry plays a critical role in sectors such as oil & gas, power generation, chemicals, food processing, and pharmaceuticals. Pressure vessels are designed to safely store and transport gases or liquids under high pressure and temperature conditions. Growing industrialization, expansion of energy infrastructure, and stricter safety regulations are driving market demand. Technological advancements, including advanced materials, automation, and AI-based monitoring systems, are improving vessel efficiency, safety, and lifespan across global industrial operations.

Pressure Vessel Market Trends & Drivers

Growing industrialization and expansion of energy projects are major drivers of the pressure vessel market. Industries such as oil & gas, power generation, chemicals, and water treatment rely heavily on pressure vessels for safe storage and processing. Increasing investments in refineries, petrochemical plants, and renewable energy facilities are creating steady demand for durable, high-performance vessels that can operate under extreme pressure and temperature conditions.

Governments and regulatory bodies are enforcing strict safety standards for pressure equipment to prevent accidents and environmental damage. Compliance with certifications such as ASME and PED has become mandatory in many regions. This is encouraging manufacturers to focus on high-quality materials, advanced welding techniques, and regular inspection systems. Strong regulatory oversight is pushing companies to upgrade old systems and adopt safer, more reliable pressure vessel technologies.

Innovation is transforming the pressure vessel industry. Manufacturers are using advanced alloys, corrosion-resistant materials, and automated fabrication methods to improve product durability. In addition, AI-powered sensors and digital monitoring systems enable predictive maintenance and real-time safety checks. These smart technologies help reduce downtime, extend equipment lifespan, and improve operational efficiency, making modern pressure vessels more reliable and cost-effective for industrial applications.

Leading Companies Operating in the Global Pressure Vessel Industry

• Abbott & Co (Newark) Ltd.
• Alloy Products Corp.
• Babcock & Wilcox Enterprises Inc.
• Bharat Heavy Electricals Limited
• Doosan Heavy Industries & Construction
• GEA Group Aktiengesellschaft
• Halvorsen Company
• IHI Corporation
• Larsen & Toubro Limited
• Mitsubishi Power Ltd.
• Pressure Vessels (India)
• Samuel Son & Co.

Pressure Vessel Market Report Segmentation

By Material:

• Hastelloy
• Titanium
• Nickel and Nickel Alloys
• Tantalum

• Steel (Stainless Steel, Duplex Steel, Carbon Steel, Super Duplex Steel, Others)
• Others

Steel accounts for the largest share of 29.7%, owing to its superior mechanical strength, cost-effectiveness, and suitability for harsh industrial environments.

By Product:

• Boiler
• Nuclear Reactor
• Separator
• Others

Boilers dominate with a 59.6% market share, driven by their critical role in thermal power generation, steam production, and industrial heating across multiple sectors.

By End Use:

• Chemicals and Petrochemicals
• Oil and Gas
• Power Generation
• Others

Chemicals and petrochemicals hold the leading position with 38.7% share, reflecting the sector's constant need for safe, high-pressure systems to process and store reactive substances.

Regional Insights

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific leads the global market with a 36.4% share, supported by rapid industrialization, large-scale energy projects, and government-backed manufacturing initiatives across China, India, and South Korea.

Recent News and Developments in the Pressure Vessel Market

• May 2025: Siemens Energy announced the successful delivery of high-pressure hydrogen storage vessels for a large green hydrogen project in Europe, supporting the expansion of renewable energy infrastructure and industrial decarbonization efforts.
• April 2025: Doosan Enerbility completed manufacturing of a large reactor pressure vessel for a next-generation nuclear power plant, strengthening its position in the global nuclear equipment supply chain.
• March 2025: Indian Oil Corporation commissioned new pressure vessels at its Panipat refinery as part of a capacity expansion project aimed at improving fuel processing efficiency and safety compliance.
• February 2025: Linde launched a new line of high-pressure cryogenic vessels designed for liquid hydrogen transport, addressing growing demand from hydrogen mobility and energy storage markets.
• January 2025: Mitsubishi Heavy Industries announced progress on advanced pressure vessel systems for carbon capture and storage (CCS) facilities, supporting large-scale CO₂ transport and long-term sequestration projects.

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