The global pressure vessels market size was estimated at USD 175.4 billion in 2020 and is expected to register a compound annual growth rate (CAGR) of 5.2% from 2021 to 2027. This growth can be attributed to the significant growth of the chemical & petrochemical industry along with growing adoption of supercritical power generation technology. The industrial sector in the U.S. is highly diversified due to technological innovations in the country. Increasing investments in exploration & production activities by the oil & gas companies in the U.S. are anticipated to boost the product demand, majorly for storage purposes in oil & gas industry.