-2 Market Share

On the basis of regional analysis, the global pressure vessels market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

Based on region, the market in Asia Pacific industry is set to hold largest revenue share by 2037, attributed to increasing power and power generation investments in the region. Moreover, the increase in the establishments of nuclear power and the rise in demand for pressure vessels from chemicals and oil & gas industry has encouraged the growth of the global pressure vessels market. The on-going development of urban and industrial sector in the Asia Pacific region will provide for a consistent demand for electricity. This would enhance the demand for pressure vessels owing to the fact that the pressure vessels are a necessity in majority power generation procedures. The Middle East market is also anticipated to show growth owing to the deep-rooted oil & gas infrastructure in the region.