Storage Pressure Vessel Market Size, Share, Growth, and Industry Analysis by Type (Steel Vessel, Carbon-fiber Composite Vessel, Full Carbon Fiber Vessel, and Others) By Application (Oil and Gas, Chemical Industry, Metallurgy, Military Industry, and Others), Regional Forecast To 2035

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STORAGE PRESSURE VESSEL MARKET OVERVIEW

The global storage pressure vessel market was valued at USD 60.98 billion in 2025 and is expected to grow to USD 64.09 billion in 2026, reaching USD 100.19 billion by 2035, with a projected CAGR of 5.1% during the forecast period.

Storage pressure vessels are enclosed containers which helps to hold liquids, gases, and vapors at a pressure significantly lower or higher than the ambient pressure. The vessel is extensively used in oil and gas, chemical industry, metallurgy, military industry, and others.

The market dynamics are growing number of aged power plants and presence of significant capital investment. Increased need for low emission super critical technology and rise in need for sub-critical technologies is anticipated to drive market progress. Growing need for thermal power plant and strict regulations on climate change over the conventional coal-fired power plants is predicted to surge market progress. Further, huge need for eco-friendly and energy efficient equipment across the globe and rise in shifts towards advanced technologies is predicted to fuel market progress. Growing need for pressure vessels is anticipated to drive market progress in the forthcoming years. Huge adoption of the product in chemical and military sector is estimated to foster market progress. Rise in need for power and energy and growing industrialization is predicted to fuel market growth. Rapid development in all industries and wide application of pressure vessels is anticipated to drive market progress. On the contrary, high initial manufacturing cost and strict emission standards associated with pressure vessels is estimated to limit market progress. Also, volatile raw material prices are predicted to hamper harm market progress.

KEY FINDINGS

COVID-19 IMPACT

Lockdown Restriction and Closing of End-User Sector Impacted Market Growth

The COVID-19 pandemic affected numerous business globally. Lockdown restriction and closing of end-user sector impacted market growth. Also, lower need for the product reduced product demand among consumers. Supply and chain disruption and low availability of raw materials due to border closer affected market growth.

LATEST TRENDS

Efficiency of Thermal Power Plant in Developed Region to Foster Market Progress

The efficiency of thermal power plants reduced with the life span and increased need for effective thermal plants across the globe is estimated to fuel market progress. Increased R&D activities and expenditure is anticipated to accelerate market progress. Rise in demand for thermal power plants and huge need for new chemical in plant construction projects is anticipated to attract more consumer. High need for supercritical and ultra-supercritical technologies is anticipated to boost technologies adoption in the coming years.

• Over 20 distinct paragraphs in ASME BPVC Section VIII have been amended, replaced, or modified for pressure vessels, particularly affecting welding, radiography, joint requirements, and external pressure design.

• Many pressure vessels in oil & gas extraction/production facilities built in the mid‑20th century (1940s–1990s) were constructed prior to key ASME BPVC Code editions and often do not have complete record‑keeping or nameplate certification, leading to a significant number of vessels lacking proper documentation.

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STORAGE PRESSURE VESSEL MARKET SEGMENTATION

By Type

Based on type, the market is divided into steel vessel, carbon-fiber composite vessel, full carbon fiber vessel, and others.

carbon-fiber composite vessel is expected to be the top part of type segmentation.

By Application

Based on the application, the market is divided into oil and gas, chemical industry, metallurgy, military industry, and others.

Oil and gas sector is expected to be the top part of application segmentation.

DRIVING FACTORS

Growing Need for Effective Pressure Vessel to Accelerate Market Progress

Increased need for effective pressure vessel in end-user is estimated to boost market progress. Rise in adoption for renovated and advanced equipment is predicted to fuel market growth. Increased need for developing power plants is anticipated to boost market growth.  Growing number of aged power plants and presence of significant capital investment. Increased need for low emission super critical technology and rise in need for sub-critical technologies is anticipated to drive market progress. Growing need for thermal power plant and strict regulations on climate change over the conventional coal-fired power plants is predicted to surge market progress.

• A pressure vessel is legally defined as a vessel designed to operate at pressures above 15 psig, and inspections over time have shown a notable number of vessels failing basic integrity tests, driving demand for replacement and upgraded vessels.

• Over 45 million data reports have been registered for pressure vessels and boilers, indicating both the scale of the existing installed base and ongoing requirements for maintenance, inspection, repair, or replacement.

Huge Need for Eco-Friendly and Energy Efficient Equipment Across the Globe to Fuel Market Progress

The huge need for eco-friendly and energy efficient equipment across the globe and rise in shifts towards advanced technologies is predicted to fuel market progress. Growing need for pressure vessels is anticipated to drive market progress in the forthcoming years. Huge adoption of the product in chemical and military sector is estimated to foster market progress. Rise in need for power and energy and growing industrialization is predicted to fuel market growth. Rapid development in all industries and wide application of pressure vessels is anticipated to drive market progress.

RESTRAINING FACTORS

High Initial Manufacturing Cost and Strict Emission Standards Associated with Pressure Vessels to Hamper Market Progress

The high initial manufacturing cost and strict emission standards associated with pressure vessels is estimated to limit market progress. Also, volatile raw material prices are predicted to hamper harm market progress.

• Around 35% of existing pressure vessels in industrial facilities were built before the 1980s, and many of these older vessels lack updated documentation, nameplates, or certifications, making compliance with modern safety standards challenging.

• Pressure vessels must adhere to strict technical requirements such as weld joint inspections, radiography, and corrosion allowances; for example, corrosion allowance must be at least one-sixth of the calculated thickness or one-sixteenth inch, whichever is smaller, adding complexity to design and manufacturing processes.

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STORAGE PRESSURE VESSEL MARKET REGIONAL INSIGHTS

Increased Need for Low Emission Super Critical Technology and Rise in Need for Sub-Critical Technologies in Asia Pacific to Drive Market Share

Asia Pacific is anticipated to account for the largest storage pressure vessel market share increased need for low emission super critical technology and rise in need for sub-critical technologies is anticipated to drive market progress. Growing need for thermal power plant and strict regulations on climate change over the conventional coal-fired power plants is predicted to surge market progress. Further, huge need for eco-friendly and energy efficient equipment across the globe and rise in shifts towards advanced technologies is predicted to fuel market progress. Growing need for pressure vessels is anticipated to drive market progress in the forthcoming years. Huge adoption of the product in chemical and military sector is estimated to foster market progress. Rise in need for power and energy and growing industrialization is predicted to fuel market growth. Rapid development in all industries and wide application of pressure vessels is anticipated to drive market progress.

KEY INDUSTRY PLAYERS

Leading Players Adopt New Strategies to Stay Competitive

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

• Hanson Tank was founded in 1932 and has manufactured and shipped over 1 million pressure vessels worldwide. The company offers horizontal water storage tanks with capacities ranging from 60 to 25,000 gallons and diameters of up to 144 inches.

• Zeyon, Inc. manufactures pressure vessels with capacities ranging from 1 gallon to 10,000 gallons and working pressures between 15 PSI and 5,000 PSI. The company uses both carbon and stainless steel to produce vessels in jacketed and non-jacketed designs.

List of Top Storage Pressure Vessel Companies

• Hanson Tank
• Zeyon Inc.,
• Cavendish Northern
• Modern Welding
• Dixie Southern
• Savannah Tank and Equipment Corporation
• Spirotech Group Ltd
• CAID
• Äager Brand ERGIL
• Gpi
• American Alloy Fabricators
• DFC Pressure Vessel Manufacturer Co., Ltd.
• Halvorsen
• Integasa

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.