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Pressure Vessel Market for Alternative Fuels by Construction Type, Application - Global Opportunity Analysis and Industry Forecast, 2017-2023

  • ID: 4612598
  • Report
  • May 2017
  • Region: Global
  • 170 pages
  • Allied Analytics LLP
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The Pressure Vessel Market for alternative fuels was valued at $3,038 million in 2016, and is expected to reach at $8,529 million by 2023, growing at a CAGR of 16.6% from 2017 to 2023. CNG pressure vessels are widely used for storage and transportation of liquids and gases when configured as tanks. These vessels are generally manufactured from curved sheets joined by welding, and mostly V-butt welded pressure vessels are used. The riveted joints could be used but since the plates are weakened at the joint due to the rivet holes the plate thickness should be enhanced by considering the joint efficiency.

The pressure vessel market for alternative fuels is segmented based on construction type, application, and region. Based on construction type, it is classified into CNG type I, CNG type II, CNG type III and CNG type IV. Based on application, it is categorized into CNG vehicles, hydrogen vehicles and gas transport. CNG type I is the highest revenue generator for the pressure vessel’s alternative fuels market in 2016, because it is least expensive out of other CNG types. Also, the metalworking skills and equipment needed to produce them are widely available internationally. CNG type IV segment is forecasted to register the highest growth rate during the forecast period as it is the lightest among other CNG types. CNG type IV reduces the weight of the storage container by 30 to 40 percent.

Key Benefits

This report provides an extensive analysis of the current pressure vessel market for alternative fuels trends, future estimations, and dynamics from 2016 to 2023, which assist to identify the prevailing opportunities.
Geographically, the pressure vessel market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Extensive market analysis predicts the applications that are currently used and the variants that are expected to gain prominence in the future.
Detailed analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
Key players are profiled and their strategies are analyzed thoroughly, which portrays the competitive market outlook.

Pressure Vessel Market Key Segments:

By Construction Type

CNG Type I
CNG Type II
CNG Type III
CNG Type IV

By Application

CNG Vehicles
Hydrogen Vehicles
Gas Storage

By Geography

North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
South Africa
UAE
Rest of LAMEA
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CHAPTER 1. INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENT
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tool & Model

CHAPTER 2. EXECUTIVE SUMMARY
2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVES

CHAPTER 3. MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top Investment Pockets
3.2.2. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET DYNAMICS
3.4.1. Drivers
3.4.1.1. Increase in the Natural gas Vehicles (NGVs)
3.4.1.2. Increase in the fuel prices
3.4.3. Opportunities
3.4.3.1. Acquisition & Mergers to expand the geographic reach of market players
3.5. MARKET SHARE ANALYSIS, 2016 (%)

CHAPTER 4. GLOBAL PRESSURE VESSEL MARKET FOR ALTERNATIVE FUELS , BY CONSTRUCTION TYPE
4.1. INTRODUCTION
4.1.1. Market Size and Forecast
4.2. CNG TYPE I
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast
4.3. CNG TYPE II
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast
4.4. CNG TYPE III
4.4.1. Key Market Trends, Growth Factors and Opportunities
4.4.2. Market Size and Forecast
4.5. CNG TYPE IV
4.5.1. Key Market Trends, Growth Factors and Opportunities
4.5.2. Market Size and Forecast

CHAPTER 5. GLOBAL PRESSURE VESSEL MARKET FOR ALTERNATIVE FUELS , BY APPLICATION
5.1. INTRODUCTION
5.1.1. Market Size and Forecast
5.2. CNG VEHICLE
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast
5.3. HYDROGEN VEHICLE
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast
5.4. GAS STORAGE
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast

CHAPTER 6. GLOBAL PRESSURE VESSEL MARKET FOR ALTERNATIVE FUELS , BY GEOGRAPHY
6.1. INTRODUCTION
6.1.1. Market Size and Forecast
6.2. NORTH AMERICA
6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Size and Forecast
6.2.3. U.S.
6.2.3.1. Market size and forecast, by application
6.2.4. Canada
6.2.4.1. Market size and forecast, by application
6.2.5. Mexico
6.2.5.1. Market size and forecast, by application
6.3. EUROPE
6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Size and Forecast
6.3.3. Germany
6.3.3.1. Market size and forecast, by application
6.3.4. UK
6.3.4.1. Market size and forecast, by application
6.3.5. France
6.3.5.1. Market size and forecast, by application
6.3.6. Italy
6.3.6.1. Market size and forecast, by application
6.3.6. Russia
6.3.6.1. Market size and forecast, by application
6.3.8. Rest of Europe
6.3.8.1. Market size and forecast, by application
6.4. ASIA-PACIFIC
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast
6.4.3. China
6.4.3.1. Market size and forecast, by application
6.4.4. Japan
6.4.4.1. Market size and forecast, by application
6.4.5. India
6.4.5.1. Market size and forecast, by application
6.4.6. Rest of Asia-Pacific
6.4.6.1. Market size and forecast, by application
6.5. LAMEA
6.5.1. Key Market Trends, Growth Factors and Opportunities
6.5.2. Market Size and Forecast
6.5.3. Brazil
6.5.3.1. Market size and forecast, by application
6.5.4. Argentina
6.5.4.1. Market size and forecast, by application
6.5.5. Brazil
6.5.5.1. Market size and forecast, by application
6.5.6. Argentina
6.5.6.1. Market size and forecast, by application
6.5.6. South Africa
6.5.6.1. Market size and forecast, by application
6.5.6. UAE
6.5.6.1. Market size and forecast, by application
6.5.6. Rest of LAMEA
6.5.6.1. Market size and forecast, by application

CHAPTER 7. COMPANY PROFILES
7.1. SAMUEL CNG PRESSURE VESSEL GROUP
7.1.1. Company Overview
7.1.2. Company Snapshot
7.1.3. Operating Business Segments
7.1.4. Business Performance
7.1.5. Key Strategic Moves and Developments
7.2. DOOSAN HEAVY INDUSTRIES & CONSTRUCTION
7.2.1. Company Overview
7.2.2. Company Snapshot
7.2.3. Operating Business Segments
7.2.4. Business Performance
7.2.5. Key Strategic Moves and Developments
7.3. MITSUBISHI HEAVY INDUSTRIES, LTD.
7.3.1. Company Overview
7.3.2. Company Snapshot
7.3.3. Operating Business Segments
7.3.4. Business Performance
7.3.5. Key Strategic Moves and Developments
7.4. BHARAT HEAVY ELECTRICALS LIMITED
7.4.1. Company Overview
7.4.2. Company Snapshot
7.4.3. Operating Business Segments
7.4.4. Business Performance
7.4.5. Key Strategic Moves and Developments
7.5. LARSEN & TOUBRO LIMITED
7.5.1. Company Overview
7.5.2. Company Snapshot
7.5.3. Operating Business Segments
7.5.4. Business Performance
7.5.5. Key Strategic Moves and Developments
7.6. WESTINGHOUSE ELECTRIC COMPANY LLC.
7.6.1. Company Overview
7.6.2. Company Snapshot
7.6.3. Operating Business Segments
7.6.4. Business Performance
7.6.5. Key Strategic Moves and Developments
7.7. GENERAL ELECTRIC
7.7.1. Company Overview
7.7.2. Company Snapshot
7.7.3. Operating Business Segments
7.7.4. Business Performance
7.7.5. Key Strategic Moves and Developments
7.8. HALVORSEN
7.8.1. Company Overview
7.8.2. Company Snapshot
7.8.3. Operating Business Segments
7.8.4. Business Performance
7.8.5. Key Strategic Moves and Developments
7.9. IHI CORPORATION
7.9.1. Company Overview
7.9.2. Company Snapshot
7.9.3. Operating Business Segments
7.9.4. Business Performance
7.9.5. Key Strategic Moves and Developments
7.10. CNG PRESSURE VESSELS (INDIA)
7.10.1. Company Overview
7.10.2. Company Snapshot
7.10.3. Operating Business Segments
7.10.4. Business Performance
7.10.5. Key Strategic Moves and Developments
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According to A new report titled,titled, Pressure vessel Market For Altertive Fuels by Construction Type, and Application: Global Opportunity Alysis and Industry Forecast, 2017-2023, the pressure vessel market for altertive fuels was valued at $3,038 million in 2016, and is expected to reach at $8,529 million by 2023, growing at a CAGR of 16.6% from 2017 to 2023. The CNG type I was the highest revenue contributor to the global pressure vessel market for altertive fuels in 2016. Asia-Pacific accounted for the lead position in 2016, and is expected to grow at the highest rate during the study period.

Pressure vessels are the containers that store fluids under high pressure. These vessels are used in industries, such as petroleum refining, chemical, power, food & beverages, and pharmaceuticals. Pressure vessels are categorized into three main types horizontal, vertical, and spherical. Shell, head, nozzle, and support are the main components of a pressure vessel. The market for CNG pressure vessel is driven by the increase in the number of tural gas vehicle (NGV) vehicles around the world. Also, due the increase in the average prices of fuels over last one decade, low-cost tural gases are being preferred in Asia-Pacific and LAMEA region.

The hydrogen vehicle is projected to witness the highest growth during the forecast period, owing to the establishment of several chemical companies in the Middle East. The energy segment is anticipated to witness substantial growth during the forecast period. At present, the count for hydrogen fuel vehicles around the world is approximately 15,000 and the number is expected to rise in coming decade as it is available and renewable. Also, the fact that hydrogen vehicles do not contribute to climate change as there are no greenhouse gas emission, they are gaining preference from manufacturers such as Toyota, Nissan, Honda, Ford, and BMW.

Key findings of the Pressure Vessel Market:

The CNG vehicle segment occupied the highest share in 2016, and is expected to grow at a CAGR of 16.5%, in terms of value, during the forecast period.
Asia-Pacific is the leading consumer, accounting for approximately half of the share of the global market in 2016, followed by LAMEA.
The hydrogen vehicle segment is expected to register the highest CAGR of 22.7%, in terms of value.
Brazil and Argenti are the leading provider of CNG pressure vessel for LAMEA.
Chi is the leading market in the Asia-Pacific, accounting for approximately three-fifth share of the global pressure vessel market for altertive fuels in 2016.

Asia-Pacific accounted for the highest market share in 2016, and is estimated to grow at the highest CAGR of 17.7%, owing to the presence of major automobile manufacturers in Chi. In addition, the demand from the tural gas vehicles is expected to drive the market growth in Asia-Pacific.

The key players profiled in this report are Samuel Pressure Vessel Group, Doosan Heavy Industries & Construction, Mitsubishi Heavy Industries, Ltd., Bharat Heavy Electricals Limited, Larsen & Toubro Limited, Westinghouse Electric Company LLC., General Electric, Halvorsen, IHI Corporation, and Pressure Vessels (India).
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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