Type-I Pressure Vessels Market is Likely to Experience a Strong Growth During 2021-2026

The Type-I Pressure Vessels Market is likely to rebound at a promising CAGR of 5.3% in the long run to reach US$ 4.5 Billion in 2026.

A new report by Stratview Research with the title Global Type-I Pressure Vessels Market by manufacturers, regions, type, and application, forecast to 2026 comprises a detailed study of market size, share, and dynamics. The report is an illustrative sample demonstrating global Type-I Pressure Vessels Market trends, product category type, and market status. The report will help you understand the various applications of the usage and features of the product. It also covers the present and past market scenarios, market development patterns, and is likely to proceed with a continuing development over the forecast period.

What you get in this report/ Why to buy this report –

  • People looking for growth potential with respect to product categories can get all the desired information in this report, along with supporting figures and facts.

  • The report studies various competitive dynamics of the market by profiling key players to gain overall market growth.

  • It also includes a significant amount of analytical data about the impact of these advancements on the future of market growth.

  • The business development trends, and marketing networks are analysed in this study.

NOTE: Our analysts monitoring the market situation across the globe vindicate that the market will generate compensable prospects for the manufacturers post COVID-19 crisis.

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Segment Analysis

Based on the application type, the type-I pressure vessels market is segmented as life support, transportation, recreational, industrial, gas carrier & storage, and others. Transportation is expected to maintain its unassailable lead in application type classification of the market during the forecast period owing to the changing preference of customers for gasoline- and diesel-fueled vehicles to alternative-fueled vehicles owing to the higher price of gasoline and diesel across regions coupled with growing concerns regarding CO2 and NOx emissions. All the leading players of type-I pressure vessels are serving the transportation segment.

In terms of regions, Asia-Pacific is expected to remain the largest as well as the fastest-growing market for type-I pressure vessels during the forecast period, driven by the presence of a large number of industry stakeholders, making the region a growth engine of the transportation industry and industrial applications. China, Japan, and India are likely to be the key countries/markets for the region. Beijing Tianhai Industry and Everest Kanto Cylinder are the major companies manufacturing type-I pressure vessels based in the region.

Market Overview:

The Type-I Pressure Vessels Market is likely to rebound at a promising CAGR of 5.3% in the long run to reach US$ 4.5 Billion in 2026.

Pressure vessels are enclosed containers used to hold fluids, fumes, and gases at a pressure significantly higher or lower than the ambient pressure. They are widely used in various industries, such as transportation, petrochemical, oil & gas, chemical, and food processing. The first descent of the current modern pressure vessels was designed in the 1800s. After which a lot of evolutions took place and various codes and standards were implemented to make the vessels safer for users and to make them the best fit for various applications, addressing the emerging market requirements.

Our analysts keep a close eye on the recent developments and follow the latest company news related to different players operating in the global Type-I Pressure Vessels Market. This helps us to deeply analyze companies as well as the competitive landscape.

The top leading players operating in the market:

The key players of the global Type-I Pressure Vessels Market are –

  • Beijing Tianhai Industry Co., Ltd.

  • Cylinders Holding a.s.

  • Worthington Industries, Inc.

  • Everest Kanto Cylinder Ltd.

  • Norris Cylinder (A TriMas Company)

  • Faber Industrie SPA

  • Catalina Cylinders

  • Luxfer Holdings PLC

  • FIBA Technologies, Inc.

  • Grupo Mat

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Stratview Research is a leading global Market Research firm providing expert research solutions, trusted by clients worldwide. This firm possesses a global presence to enable current market information using the most up-to-date methodology, best-in-class research techniques, and cost-effective approaches. It also surveys clients in several countries to provide you with the most comprehensive illustration of global trends and behaviours.