Global Industrial Gas Pressure Vessels Market was valued at USD 0.9 Billion in 2022 and is projected to reach USD 1.5 Billion by 2030, growing at a CAGR of 6.4% from 2024 to 2030.
The Industrial Gas Pressure Vessels Market has witnessed significant growth over the past few years. These vessels, used for storing and transporting gases at high pressures, are critical in various industries such as chemical manufacturing, oil and gas, healthcare, and food processing. According to industry reports, the global demand for industrial gas pressure vessels is expected to continue its upward trajectory, driven by increased industrialization and technological advancements in manufacturing processes.
The market is being fueled by the rising adoption of compressed natural gas (CNG) as an alternative to traditional fuels, coupled with the expanding use of industrial gases like nitrogen, oxygen, and hydrogen in a wide range of applications. Innovations in material science have led to the development of lighter, more durable vessels that can withstand higher pressures, further accelerating market growth. Additionally, government regulations around environmental sustainability and the need for safe and efficient storage of gases are adding to the demand for these vessels.
In terms of market segmentation, the demand for industrial gas pressure vessels is categorized by type, including composite pressure vessels, steel pressure vessels, and others. Composite vessels, known for their high strength-to-weight ratio and corrosion resistance, are expected to see the most growth. The North American market holds the largest share, but Asia Pacific is quickly emerging as a major growth area due to industrial expansion in countries like China and India.
End-user industries continue to evolve, with healthcare applications such as oxygen therapy and medical gas storage becoming increasingly important. Moreover, the food and beverage sector’s reliance on carbon dioxide and nitrogen for packaging and preservation is boosting the market. Looking ahead, there are increasing opportunities in hydrogen storage for fuel cell applications, a growing trend with the shift toward clean energy solutions.
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Sinoma Science & Technology Co.
Ltd.
Worthington Industries
Inc.
Rama Cylinders
Faber Industrie
Ningbo Meike Acetylene Cylinders Co.
Ltd.
Luxfer Group
Beijing Tianhai Industry Co.
Ltd.
Hebei Baigong Industrial Co.
Ltd.
Lianyungang Zhongfu Lianzhong Composites Group Co.
Ltd.
Everest Kanto Cylinders
Chart Industries
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Industrial Gas Pressure Vessels Market
General Industry
Chemical
Food
Medical
Others
Based on Types the Market is categorized into Below types that held the largest Industrial Gas Pressure Vessels market share In 2023.
Steel Vessels
Composite Vessels
Aluminum Vessels
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Industrial Gas Pressure Vessels Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Industrial Gas Pressure Vessels Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Industrial Gas Pressure Vessels Market, By Type
6. Global Industrial Gas Pressure Vessels Market, By Application
7. Global Industrial Gas Pressure Vessels Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Industrial Gas Pressure Vessels Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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