Pressure Vessel Market is estimated to be US$ 63.62 billion by 2030 with a CAGR of 4.50% during the forecast period
Pressure Vessel Market accounted for US$ 41.23 billion in 2020 and is estimated to be US$ 63.62 billion by 2030 and is anticipated to register a CAGR of 4.50%. Pressure vessels are used in manufacturing industry in order to hold liquids and gases at high pressure. Pressure vessel has high pressure with high temperature. Sometime flammable fluids or highly radioactive material is present in pressure vessel. It has to be design carefully to cope with the operating temperature and pressure. Pressure vessels are designed primarily based on diameter and thickness of their cylinder portion. These vessels are manufactured by using stainless steel and assembled by welding. Operation and manufacturing of pressure vessel is highly governed by authorities supported by legislation. The report " Global Pressure Vessel Market, By Material (Steel Alloy, Other Alloy, and Composites), By Product Type (Boiler, Nuclear Reactor, Separator, and Others), By End Use Application (Oil and Gas, Chemica