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India Pressure Vessel Market
ID: MRFR/EnP/53902-HCR
200 Pages
June 2025
India Pressure Vessel Market Research Report: By Material (Steel Alloys, Other alloys, Composites), By Product (Boilers, Nuclear reactors, Separators, Others) andBy Application (Oil & Gas, Chemicals, Power generation, Others)- Forecast to 2035
Industry Developments
The India Pressure Vessel Market has recently witnessed several developments, including the strategic focus of companies like Tata Projects and BHEL on expanding their manufacturing capabilities in response to rising demand from various sectors, such as oil and gas and power generation. Notably, Jindal Stainless announced an increase in its production capacity, aiming to cater to the growing need for high-quality stainless steel pressure vessels. In terms of mergers and acquisitions, Tata Steel completed the acquisition of a minor stake in a steel manufacturing firm in September 2023, focusing on technological advancements in pressure vessel applications. Furthermore, Godrej and Boyce has been actively investing in Research and Development to enhance the sustainability of their pressure vessels. The market valuation of major players is also witnessing growth, impacting their financial performance positively. Several companies, including Inox India and Larsen and Toubro, have reported substantial orders in the past years, indicating robust demand. Over the last two years, the India Pressure Vessel Market continues to evolve with increasing investments in the sector, aligning with India's push for self-sufficiency in manufacturing and infrastructural development.
Report Scope
Report Scope:
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 2.4(USD Billion) |
| MARKET SIZE 2024 | 3.5(USD Billion) |
| MARKET SIZE 2035 | 6.45(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 5.715% (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 | Tata Projects, BHEL, Jindal Stainless, Godrej & Boyce, Inox India, Larsen & Toubro, Welspun Group, Tata Steel, Aarti Group, Hindustan Aeronautics, EIL, Apar Industries, Technip Energies, Maharashtra Seamless, KSB Limited |
| SEGMENTS COVERED | Material, Product, Application |
| KEY MARKET OPPORTUNITIES | Growing industrialization demand, Increased investment in energy sector, Rising regulations on safety standards, Expansion in chemical manufacturing, Adoption of advanced materials technology |
| KEY MARKET DYNAMICS | Growing industrial demand, Regulatory compliance pressures, Technological advancements, Increasing safety standards, Rising energy sector investments |
| COUNTRIES COVERED | India |
FAQs
What is the projected market size of the India Pressure Vessel Market by 2035?
The India Pressure Vessel Market is expected to be valued at approximately 6.45 USD Billion by the year 2035.
What is the expected compound annual growth rate (CAGR) for the India Pressure Vessel Market from 2025 to 2035?
The expected CAGR for the India Pressure Vessel Market from 2025 to 2035 is 5.715 percent.
Which material segment holds the largest market share in the India Pressure Vessel Market in 2024?
In 2024, the Steel Alloys segment is valued at 1.4 USD Billion and holds a significant share in the India Pressure Vessel Market.
What is the market value of the Other alloys segment in the India Pressure Vessel Market for 2024?
The Other alloys segment is valued at 1.0 USD Billion in the India Pressure Vessel Market for the year 2024.
Who are the major players in the India Pressure Vessel Market?
Major players in the India Pressure Vessel Market include Tata Projects, BHEL, Jindal Stainless, and Larsen & Toubro.
What is the expected value of the Composites segment in the India Pressure Vessel Market by 2035?
The Composites segment is expected to be valued at approximately 2.0 USD Billion by the year 2035.
What opportunities are driving growth in the India Pressure Vessel Market?
Growing demand for pressure vessels in various industries is driving significant growth opportunities in the market.
What are the challenges facing the India Pressure Vessel Market?
Challenges include managing production costs and meeting stringent regulatory standards in the industry.
How does the India Pressure Vessel Market perform regionally?
The India Pressure Vessel Market has shown a robust growth trajectory across various regions, driven primarily by industrialization.
What is the market size of the Steel Alloys segment by 2035?
The Steel Alloys segment is expected to grow significantly, reaching a market size of around 2.6 USD Billion by 2035.
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