LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global pressure vessels market report. This research report also lists 19 other prominent vendors that are expected to impact the market during the forecast period.
The major end-users of pressure vessels are the chemical, power, and fuel processing industries. In 2016, the growth in the manufacturing sector was another major contributor to the global pressure vessels market. This growth is expected to increase the demand for power, chemicals, mineral and ores, and oil and gas, thereby, attracting investment towards these industries.
Competitive vendor landscape
The global pressure vessels market is characterized by the presence of international, regional, and local vendors. At present, several local and regional vendors provide high-tech and highly customized products at lower prices than international vendors. There are new vendors emerging in this market. However, they find it difficult to compete with existing vendors in terms of quality, features, functionalities, and services.
“In the next few years, the competitive environment in this market is expected to intensify because of an increase in product extensions, technological innovations, and mergers and acquisitions,” says Gaurav Mohindru, a lead unit operations research analyst from Technavio.
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Top five pressure vessels market vendors
Alfa Laval develops and supplies specialized products and engineered solutions for heat transfer, separation, and fluid handling applications including pressure vessels. Its products are designed to optimize processes such as cooling, heating, separation, and transportation of products, including chemicals, oil, water, beverages, and foodstuff.
Amec Foster Wheeler
Amec Foster Wheeler supplies engineering, construction, and project management contractor and power equipment including pressure vessels. It designs and constructs infrastructure and processing facilities for industries such as oil and gas, LNG and gas monetization, refining, chemicals, pharmaceuticals, minerals and metals, and power.
Halliburton is one the major players in the global pressure vessels market offering three-phase separators. The company offers surface well testing and three-phase test separators to provide safe and efficient separation. The three-phase separator measures the separation of oil, gas, and water phases produced in the reservoir. It is used for well-testing applications and clean-up operations for stimulated walls.
Kelvion is the successor to the GEA Heat Exchangers Group. The company offers one of the world's largest product portfolio for heat exchangers which are a key type of pressure vessels. Kelvion produces various heat-exchanger products for end-user application and complex environmental conditions.
Mitsubishi Hitachi is a joint venture of Mitsubishi Heavy Industries and Hitachi. The company manufactures thermal power generation systems. It offers fossil fuel power plant solutions, including gas turbines, conventional power plants, industrial boilers, boiler machinery, industrial steam turbines, steam turbines, turbine generators, and flue gas equipment.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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