North America 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.
North America Industrial Gas Pressure Vessels Market: Applications and Industry Requirements
Industrial gas pressure vessels are essential components across various sectors, including chemical processing, oil and gas, power generation, and pharmaceuticals. These vessels are designed to safely contain gases or liquids at pressures significantly different from ambient conditions, ensuring the integrity and efficiency of industrial operations.
In the chemical industry, pressure vessels are utilized for processes such as chemical reactions, distillation, and storage of chemicals. They are engineered to withstand high pressures and temperatures, making them crucial for maintaining safety and operational efficiency. The demand for pressure vessels in this sector is driven by the need for large-scale chemical production and the handling of hazardous materials.
The oil and gas industry relies heavily on pressure vessels for various applications, including the storage and transportation of natural gas and oil. With the increasing demand for energy and the expansion of exploration activities, there is a growing need for specialized pressure vessels that can handle the unique challenges of this sector. The rise in liquefied natural gas (LNG) exports, particularly from the United States, further underscores the importance of pressure vessels in this industry. According to Rystad Energy, the expansion of U.S. LNG export terminals will require an additional 400 vessels to transport the supercooled gas to international buyers. citeturn0news6
In the power generation sector, pressure vessels are integral to the operation of boilers, steam generators, and heat exchangers. These components are essential for converting thermal energy into electrical energy. The increasing demand for electricity and the shift towards renewable energy sources are driving the need for advanced pressure vessels that can operate under varying conditions and meet stringent safety standards.
The pharmaceutical industry also utilizes pressure vessels for the production of various medications and vaccines. These vessels are used in processes such as sterilization, fermentation, and the synthesis of active pharmaceutical ingredients. The stringent regulatory requirements and the need for high-quality standards in this sector necessitate the use of pressure vessels that comply with international safety and quality standards.
Across all these industries, the requirements for industrial gas pressure vessels include high durability, resistance to corrosion, and the ability to withstand extreme pressures and temperatures. Compliance with safety standards, such as those set by the American Society of Mechanical Engineers (ASME), is also a critical factor in the design and manufacturing of these vessels. The integration of advanced materials and technologies, such as composite materials and smart sensors, is further enhancing the performance and safety of pressure vessels in the North American market.
In summary, the North American industrial gas pressure vessels market is driven by the diverse applications across key industries, each with specific requirements for safety, efficiency, and compliance. The ongoing advancements in technology and materials science continue to shape the future of this market, ensuring that pressure vessels meet the evolving demands of industrial operations.
North America Industrial Gas Pressure Vessels Market
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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 North America 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
North America (United States, North America and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, 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 North America 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. North America Industrial Gas Pressure Vessels Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. North America Industrial Gas Pressure Vessels Market, By Type
6. North America Industrial Gas Pressure Vessels Market, By Application
7. North America Industrial Gas Pressure Vessels Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. North America Industrial Gas Pressure Vessels Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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