US Pressure Vessel Market Research Report By Material (Steel Alloys, Other alloys, Composites), By Product (Boilers, Nuclear reactors, Separators, Others) and By Application (Oil & Gas, Chemicals, Power generation, Others) - Forecast to 2035

US Pressure Vessel Market Overview:

As per MRFR analysis, the US Pressure Vessel Market Size was estimated at 8.62 (USD Billion) in 2023. The US Pressure Vessel Market Industry is expected to grow from 9.5(USD Billion) in 2024 to 17 (USD Billion) by 2035. The US Pressure Vessel Market CAGR (growth rate) is expected to be around 5.433% during the forecast period (2025 - 2035).

Key US Pressure Vessel Market Trends Highlighted

The US Pressure Vessel Market is currently influenced by several important trends that define its trajectory. One of the key market drivers is the rising demand for energy, particularly from sectors such as oil and gas, which require safe and efficient pressure vessels for their operations. Additionally, the expansion of renewable energy sources, including solar and wind power, is also contributing to the demand for specialized pressure vessels designed for specific applications. The need for stringent safety and compliance regulations further enhances the demand, as industries must adhere to standards set forth by bodies like the American Society of Mechanical Engineers (ASME) and the Occupational Safety and Health Administration (OSHA).Opportunities in the US market are emerging from advancements in materials and technology, allowing for the development of lighter, more durable pressure vessels that can withstand extreme conditions. This shift not only increases efficiency but also enhances safety, making it a significant opportunity for manufacturers to explore new designs and materials. The ongoing trend of automation and digitalization in industrial processes is also influencing the market, with smart pressure vessels that can monitor performance and predict maintenance needs gaining popularity. Recent times have seen a heightened focus on sustainability within the US Pressure Vessel Market.Companies are increasingly prioritizing eco-friendly practices and materials, attracting a growing number of environmentally conscious clients. The energy transition towards greener solutions is pressing manufacturers to innovate and respond accordingly. As industries evolve, collaborative approaches among stakeholders, including manufacturers, regulatory bodies, and end-users, will likely shape the future landscape of pressure vessels in the US, ensuring safety, efficiency, and sustainability remain at the forefront of market developments.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

US Pressure Vessel Market Drivers

Increasing Demand for Energy Generation

The US Pressure Vessel Market Industry is significantly impacted by the rising demand for energy generation, particularly from renewable sources such as solar and wind power. According to the U.S. Energy Information Administration, the share of renewable energy in total U.S. electricity generation has surpassed 20% in recent years, highlighting a substantial shift toward cleaner energy solutions. This transition necessitates advanced pressure vessels that can withstand high pressures and temperatures associated with renewable energy technologies, leading to increased investments from major companies like General Electric and Siemens in developing robust pressure vessel technologies.The production of these vessels is critical to support the infrastructure for energy storage and transportation, aiming to achieve national energy goals. As a result, this upward trend in energy generation, bolstered by federal initiatives like the Inflation Reduction Act which seeks to encourage sustainable practices, is expected to drive significant growth in the US Pressure Vessel Market Industry.

Regulatory Compliance and Safety Standards

The stringent regulatory framework established by organizations such as the American Society of Mechanical Engineers and the Occupational Safety and Health Administration in the U.S. necessitates the use of high-quality pressure vessels in various industries, including oil and gas, chemical processing, and power generation. These regulations ensure that pressure vessels meet safety and performance standards, thereby driving the market. The U.S. Bureau of Labor Statistics indicated that workplace injuries in manufacturing were reduced by over 30% in recent years due to improved safety standards and equipment, including pressure vessels.This trend indicates a growing awareness and implementation of safety measures, which directly contributes to the increasing demand for compliant pressure vessels in the US Pressure Vessel Market Industry.

Advancements in Manufacturing Technologies

Innovations in manufacturing technologies such as additive manufacturing, also known as 3D printing, are revolutionizing the production of pressure vessels in the US Pressure Vessel Market Industry. According to a report from the National Institute of Standards and Technology, the use of additive manufacturing can reduce material waste by up to 70% while improving design flexibility and reducing lead times. Major corporations like Boeing and other aerospace and defense firms are investing heavily in these technologies, leading to more efficient and customized pressure vessel solutions for various applications.As these advancements continue to evolve, they are expected to enhance the performance and efficiency of pressure vessels, thereby attracting more investment and fostering growth in the US market.

Expansion of Chemical and Petrochemical Industries

The expansion of the chemical and petrochemical industries in the U.S. is a key driver for the US Pressure Vessel Market Industry. According to the American Chemistry Council, U.S. chemical production reached $768 billion in the previous year and is expected to grow by more than 20% over the next decade. This growth necessitates the use of pressure vessels for storage, processing, and transportation of various chemicals and gases. Companies like ExxonMobil and Dow Chemical are ramping up their production capabilities to meet increasing consumer demand, further illustrating the need for high-performance pressure vessels.The demand from these industries is likely to propel the growth of the US Pressure Vessel Market Industry significantly.

US Pressure Vessel Market Segment Insights:

Pressure Vessel Market Material Insights

The 'US Pressure Vessel Market' reveals a multifaceted landscape, particularly within the Material segment, which plays a vital role in the performance and safety of pressure vessels employed across various industries, including oil and gas, chemical processing, and power generation. The primary materials utilized encompass Steel Alloys, Other Alloys, and Composites, each contributing unique advantages and characteristics essential for specific applications. Steel Alloys are widely recognized for their strength, durability, and versatility, making them a preferred choice in high-pressure applications. Their ability to withstand extreme temperatures and corrosive environments enhances their practicality in various challenging conditions within the US manufacturing sectors.On the other hand, Other Alloys, such as nickel-based and titanium alloys, cater to specialized applications where enhanced corrosion resistance and higher strength-to-weight ratios are required. These materials are crucial for sectors like aerospace and marine, where equipment is subjected to severe conditions. As such, the inclusion of these alloys in the US Pressure Vessel Market highlights the ongoing innovation in material science aimed at improving efficiency and safety. Moreover, Composites are emerging as favorable alternatives due to their lightweight nature and excellent resistance to corrosion, further expanding opportunities for advancing pressure vessel design. Their composition enables manufacturers in the US to reduce overall vessel weight while maintaining structural integrity, thus improving fuel efficiency in transport applications and reducing emissions. This shift towards lighter materials is increasingly relevant in an environment focused on sustainability. Overall, the dynamics within the Material segment of the US Pressure Vessel Market showcases a trend towards high-performance, specialized materials driven by the need for greater efficiency, safety, and environmental consideration. The ongoing research and development within these material categories foster competitive advancements, ensuring that the industry meets the demanding standards set forth by regulatory bodies and industry stakeholders alike. These trends illustrate the significance of the Material segment as a core driver of growth and innovation within the overarching framework of the US Pressure Vessel Market industry.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Pressure Vessel Market Product Insights

The US Pressure Vessel Market has been significantly shaped by various products, including Boilers, Nuclear reactors, Separators, and Others. Boilers are essential in several industries such as power generation and manufacturing, providing steam for heating and power, thereby driving considerable demand. Nuclear reactors play a crucial role in energy production, representing an important component of the US's clean energy strategy and contributing to the overall energy mix. Separators are vital in oil and gas extraction processes, enabling efficient separation of different phases and enhancing production efficiency.The Others category encompasses a range of pressure vessels used in diverse applications, showcasing the market's versatility. The increasing focus on energy efficiency and safety regulations across various sectors is expected to influence future developments within these product types, creating opportunities for innovation and growth in the US Pressure Vessel Market. Overall, understanding the dynamics of this Product segment provides valuable insights into market trends and growth potential within the industry.

Pressure Vessel Market Application Insights

The Application segment of the US Pressure Vessel Market plays a critical role in various industries, reflecting significant growth potential and opportunity. The Oil and Gas sector is vital for energy production and requires pressure vessels for safe storage and transportation of fluids under high pressures. Meanwhile, the Chemicals industry leverages these vessels for different processes, including reactions, storage, and transportation, thus driving market demand. The Power Generation sector is another key player, utilizing pressure vessels in steam generation systems and nuclear power facilities to ensure operational efficiency and safety.Additionally, the Others category encompasses applications in construction, food processing, and pharmaceuticals, further diversifying market opportunities. These industries collectively contribute to the US Pressure Vessel Market revenue by necessitating robust and reliable vessels to handle various operational demands and safety requirements. Given the growing emphasis on safety, compliance with regulations, and advancements in material technology, the overall application landscape is expected to see substantial progress, ensuring operational integrity and efficiency across all relevant sectors.Overall, the market segmentation illustrates the multifaceted nature of the Pressure Vessel Market and its strategic importance to critical industries within the US economy.

US Pressure Vessel Market Key Players and Competitive Insights:

The US Pressure Vessel Market is highly competitive, marked by a diverse array of players ranging from independent manufacturers to established global firms. Companies in this sector are increasingly focusing on innovation, efficiency, and sustainability to address the growing demand for pressure vessels across various industries, including oil and gas, power generation, and chemical processing. The market dynamics are shaped by stringent regulations, technological advancements, and fluctuating raw material prices. With the rise in industrial activities and investments in infrastructure development, the need for reliable and durable pressure vessels is more prominent than ever. Companies must leverage their capabilities in engineering, manufacturing, and customer service to gain a competitive edge. The continuous push for process optimization and safety in operations further compels businesses to enhance their product offerings and maintain robust supply chains.Kiewit Corporation has carved a notable presence in the US Pressure Vessel Market through its strong engineering and construction expertise. Renowned for its comprehensive approach, Kiewit leverages its extensive project management experience to efficiently oversee complex installations and ensure the quality and safety of pressure vessel applications. The company boasts a workforce that is highly skilled in meeting industry standards, which contributes to its robust reputation among clients in sectors such as energy and water facilities. The organization’s financial strength allows for significant investment in research and development, enabling the introduction of innovative pressure vessel solutions tailored for specific applications, thus positioning Kiewit as a formidable competitor in this arena.Fluor Corporation has established itself as a key player in the US Pressure Vessel Market, offering a wide range of services that include engineering, procurement, and construction management. The company's commitment to sustainability and innovation is reflected in its focus on designing pressure vessels that optimize performance while minimizing environmental impacts. Fluor’s extensive portfolio includes key products that cater to critical industries such as petrochemicals and nuclear power. The firm has strengthened its market presence through several strategic mergers and acquisitions, allowing it to enhance its technical capabilities and broaden its service offerings. This expansion not only increases Fluor's competitive edge but also enables it to meet diverse customer requirements effectively. With a customer-centric approach and a well-established reputation for delivering large-scale projects on time, Fluor Corporation continues to solidify its position in the US Pressure Vessel Market, underlining the importance of comprehensive service delivery and innovation in achieving long-term success.

Key Companies in the US Pressure Vessel Market Include:

Kiewit Corporation

Fluor Corporation

Wärtsilä

Atlas Copco

Doosan Heavy Industries

Thermo Fisher Scientific

Mitsubishi Heavy Industries

Cameron

SPX Corporation

Linde Plc

Civmec

The Babcock and Wilcox Company

General Electric

Hoffman Engineering

Ametek

US Pressure Vessel Market Industry Developments

In recent developments, the US Pressure Vessel Market has seen significant activity, particularly with the increasing focus on energy efficiency and safety regulations. Companies like Kiewit Corporation and Fluor Corporation are enhancing their project portfolios by adopting advanced materials and manufacturing techniques in response to regulatory changes. In September 2023, Civmec announced an expansion of its operations in the US, targeting increased demand for pressure vessels in the renewable energy sector. Mergers and acquisitions have been notable, with Cameron's acquisition of a smaller competitor in August 2023 aimed at strengthening its production capabilities. Similarly, in July 2023, SPX Corporation expanded its market reach through the purchase of an innovative technology firm focused on pressure vessel design. The growth trajectory for companies such as General Electric and Mitsubishi Heavy Industries continues to be driven by the increasing demand for pressure vessels in applications like oil and gas, nuclear energy, and wastewater management. Major industry initiatives promoting sustainable technologies and improved manufacturing processes are expected to further enhance market performance, given the evolving safety standards and environmental regulations in the United States.

US Pressure Vessel Market Segmentation Insights

Pressure Vessel Market Material Outlook

Steel Alloys

Other alloys

Composites

Pressure Vessel Market Product Outlook

Boilers

Nuclear reactors

Separators

Others

Pressure Vessel Market Application Outlook

Oil & Gas

Chemicals

Power generation

Others

Report Scope:

Report Attribute/Metric Source:	Details
MARKET SIZE 2018	8.62(USD Billion)
MARKET SIZE 2024	9.5(USD Billion)
MARKET SIZE 2035	17.0(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	5.433% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Kiewit Corporation, Fluor Corporation, Wärtsilä, Atlas Copco, Doosan Heavy Industries, Thermo Fisher Scientific, Mitsubishi Heavy Industries, Cameron, SPX Corporation, Linde Plc, Civmec, The Babcock and Wilcox Company, General Electric, Hoffman Engineering, Ametek
SEGMENTS COVERED	Material, Product, Application
KEY MARKET OPPORTUNITIES	Growing chemical processing sector, Rising demand in renewable energy, Aging infrastructure requiring upgrades, Expansion in hydrogen storage solutions, Increasing regulations for safety standards
KEY MARKET DYNAMICS	regulatory compliance, technological advancements, growing industrial applications, increasing safety standards, demand for energy efficiency
COUNTRIES COVERED	US