Industrial Gas Pressure Vessels Market was valued at USD 7.5 Billion in 2022 and is projected to reach USD 12.5 Billion by 2030, growing at a CAGR of 6.7% from 2024 to 2030.
From 2023 to 2033, the Industrial Gas Pressure Vessels market is projected to experience an upturn, driven by advancements in manufacturing technologies, rising industrial applications, and increasing government investments in sustainable energy solutions. The shift toward cleaner and renewable energy sources, including hydrogen fuel cells and carbon capture technologies, will be a key factor in the heightened demand for high-pressure vessels capable of storing and transporting gases safely. Additionally, the global industrial shift toward more sustainable and energy-efficient practices will boost the demand for these vessels, especially in emerging markets in Asia-Pacific.
The trend towards the use of hydrogen as an alternative fuel will play a significant role in the market dynamics. Pressure vessels capable of withstanding the high pressures associated with hydrogen storage are expected to see robust growth in the coming years. As more countries and industries pursue green energy and sustainability goals, the demand for these specialized pressure vessels will only increase, aligning with the broader global shift toward decarbonization.
Further, the development of lightweight and cost-effective pressure vessels using advanced composites and polymers will address the challenges related to transportation and storage. This will make industrial gas pressure vessels more accessible to smaller businesses and industries in developing nations. On the demand side, industries such as food and beverage, chemicals, and pharmaceuticals will continue to push the need for high-quality, reliable gas storage solutions.
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The Industrial Gas Pressure Vessels market has experienced significant fluctuations from 2018 to 2022, driven by various economic, technological, and regulatory factors. During this period, the demand for industrial gas pressure vessels was largely influenced by the increasing adoption of gases like hydrogen, oxygen, and nitrogen across industries such as manufacturing, healthcare, and energy. The market’s growth was largely supported by the rising demand for efficient and durable gas storage solutions. However, challenges like fluctuating raw material costs and regulatory constraints on manufacturing and transport have posed concerns for the industry.
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, 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 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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