China's Pressure Equipment Industry Market Independent Study

Pressure equipment generally involves pressure vessels as the main equipment, and usually includes single large pressure vessels and modular equipment which is assembled by pressure vessels and other equipment like process pipes, electricals, instrument, etc.. Usually, modular pressure equipment is classified into process modules and skids, and modular factories by their size, weight and functions. Pressure vessel refers to a closed vessel which is used in industrial production to complete the production process of reaction, mass transfer, heat transfer, separation and storage, and can withstand pressure loads (internal and external pressure). Modular pressure equipment is a system of facilities that integrate pressure vessels and other facilities, equipment or devices into one module, operate independently to achieve one or more relatively complete technical process flows, and can be transported, hoisted and installed as a whole. Owing to the continuous development of industrial production, the increasing R&D investment in the pressure equipment industry, the growing demand from downstream industries such as chemical industry, pharmaceutical industry and oil and gas industry, the development opportunities of international cooperation brought by the "Belt and Road Initiative", and the localization of technology and production in the pressure equipment industry, the pressure equipment industry in China has maintained a stable growth in recent years, with the sales revenue of the pressure equipment manufacturers and integrated pressure equipment solution providers increasing from RMB124.2 billion in 2015 to RMB185.2 billion in 2020, with a CAGR of approximately 8.3% during the period.