Pressure Vessels Market Size Projected to Grow $62.7 Billion by 2028 | MarketsandMarkets™ [Yahoo! Finance]
IHI CORP UNSP/ADR (IHICY)
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Source: Yahoo! Finance
billion by 2028, at a CAGR of 4.5% according to a new report by MarketsandMarkets™. A pressure vessel is a container designed to hold gases or liquids at a pressure significantly different from the ambient pressure. The pressure within the vessel may be higher or lower than the atmospheric pressure outside the vessel. Pressure vessels are used in a variety of industrial and commercial applications, including chemical processing, oil and gas production, power generation, and manufacturing. The increasing global energy demand, driven by population growth, urbanization, and industrialization, is a significant driver for the pressure vessel market. Pressure vessels are integral components of power generation systems, including fossil fuel power plants, nuclear power plants, and renewable energy installations, such as geothermal power plants. The growth of the pressure vessels market during the forecast period can be attributed to the planned rollout of energy efficiency programs across
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