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Pressure Vessel Market Worth $184 Billion by 2021

MarketsandMarkets, May 11, 2016

The global pressure vessel market is projected to reach $184.87 billion (USD) by 2021 according to a report recently released by MarketsandMarkets. The report segments the pressure vessel market on the basis of end-user industry, type, material, and region. The pressure vessel market growth is attributed to several things, including an increased demand for electricity and power generation capacity, and fast growing chemical markets in the Asia-Pacific and North American regions.  Boilers are the largest segment among the type of pressure vessels. The boilers segment within the pressure vessel market is expected to have the highest growth from 2016 to 2021, given its increasing usage in the power generation sector. 

 

Click here to read the full article from MarketsandMarkets.


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