The Global Steel Pressure Vessel and Tank Market was valued at USD 52.21 Billion in 2025 and is projected to reach USD 65.42 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 3.4% during the forecast period (2024–2030). This steady growth is being driven by increasing energy demands, expanding chemical industries, and stringent safety regulations requiring certified pressure containment solutions across key sectors.

As industrial infrastructure develops worldwide, the focus shifts to manufacturers who combine engineering excellence with technological innovation in pressure vessel design. In this report, we profile the Top 10 Companies in the Steel Pressure Vessel and Tank Industry—global engineering leaders shaping the future of industrial containment systems.

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🔟 1. McDermott International

Headquarters: Houston, Texas, USA
Key Offering: ASME-certified pressure vessels, cryogenic storage tanks, reactor vessels

McDermott is a global leader in engineered pressure equipment for the energy sector, with extensive experience in LNG, refining, and petrochemical applications. Their vertically integrated manufacturing capabilities allow complete project delivery from design to installation.

Engineering Expertise:

• Specializes in ultra-heavy wall reactors and high-pressure vessels

• Maintains 15 manufacturing facilities worldwide

• Holds over 50 ASME U-stamp certifications

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9️⃣ 2. Mitsubishi Heavy Industries, Ltd.

Headquarters: Tokyo, Japan
Key Offering: Nuclear reactor vessels, industrial boilers, LNG storage tanks

MHI brings over a century of heavy industrial manufacturing experience, producing some of the largest pressure vessels for power generation and energy applications. Their expertise in advanced materials sets industry benchmarks.

Engineering Expertise:

• Pioneer in nuclear pressure vessel technology

• Develops specialized alloys for extreme operating conditions

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8️⃣ 3. IHI Corporation

Headquarters: Tokyo, Japan
Key Offering: High-pressure process vessels, spherical storage tanks, heat exchangers

IHI is renowned for its precision engineering in critical pressure containment systems, serving oil & gas, chemicals, and power sectors globally. Their vertically integrated capabilities allow complete engineering solutions.

Engineering Expertise:

• Leading manufacturer of LNG storage tanks and carriers

• Develops proprietary welding and fabrication technologies

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7️⃣ 4. Larsen & Toubro (L&T)

Headquarters: Mumbai, India
Key Offering: Process columns, reactors, cryogenic vessels

L&T’s heavy engineering division is Asia’s largest manufacturer of custom-built pressure equipment, combining global design expertise with cost-competitive manufacturing capabilities.

Engineering Expertise:

• Operates world-class heavy fabrication facilities in India and the Middle East

• Specializes in modularized process plant solutions

Download FREE Sample Report: Steel Pressure Vessel and Tank Market – View in Detailed Research Report

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6️⃣ 5. Doosan Enerbility

Headquarters: Seoul, South Korea
Key Offering: Power plant boilers, heat recovery steam generators, reactors

Doosan is a technology leader in high-efficiency power generation equipment, with advanced capabilities in critical pressure components for thermal and nuclear power plants.

Engineering Expertise:

• Holds the record for world’s largest steam generator

• Develops specialized materials for ultra-supercritical applications

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5️⃣ 6. Hitachi Zosen Corporation

Headquarters: Osaka, Japan
Key Offering: Process reactors, LNG storage tanks, spherical pressure vessels

Hitachi Zosen combines traditional craftsmanship with cutting-edge engineering in pressure containment solutions, particularly for cryogenic and high-purity applications.

Engineering Expertise:

• Specialist in austenitic stainless steel vessels

• Advanced non-destructive testing capabilities

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4️⃣ 7. Morimatsu International

Headquarters: Shanghai, China
Key Offering: Pharmaceutical vessels, high-purity storage tanks, modular skids

Morimatsu has emerged as China’s leading pressure vessel manufacturer for life sciences and high-tech industries, combining precision engineering with digital manufacturing.

Engineering Expertise:

• Specializes in GMP-compliant pharmaceutical equipment

• Pioneer in modular process solutions

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3️⃣ 8. KNM Group Berhad

Headquarters: Kuala Lumpur, Malaysia
Key Offering: Process columns, reactors, separation vessels

KNM is Southeast Asia’s leading pressure equipment manufacturer, serving oil & gas and petrochemical industries with localized manufacturing and engineering services.

Engineering Expertise:

• Operates 9 manufacturing facilities across Asia

• Expertise in corrosion-resistant alloy vessels

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2️⃣ 9. Samuel Pressure Vessel Group

Headquarters: Tulsa, Oklahoma, USA
Key Offering: ASME code vessels, heat exchangers, separation equipment

Samuel has built a reputation for high-quality pressure equipment in North America, particularly for hydrocarbon processing and gas treatment applications.

Engineering Expertise:

• Specializes in sour gas service equipment

• Innovations in compact pressure system designs

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1️⃣ 10. Mersen

Headquarters: Paris, France
Key Offering: Highly engineered process vessels, corrosion-resistant equipment

Mersen (formerly Carbone Lorraine) brings European engineering excellence to high-performance pressure systems for demanding chemical and industrial applications.

Engineering Expertise:

• Specialist in exotic material fabrication

• Pioneer in graphite and composite pressure systems

Get Full Report Here: Steel Pressure Vessel and Tank Market – View in Detailed Research Report

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🌍 Outlook: The Future of Pressure Vessels Is Smarter and More Specialized

The steel pressure vessel market is undergoing significant transformation as industries demand higher efficiency, digital integration, and specialized material solutions. While traditional carbon steel vessels continue to dominate volume sales, technological advancements are reshaping the competitive landscape.

📈 Key Trends Shaping the Market:

• Growing demand for hydrogen storage and transport solutions

• Increasing adoption of digital twin and IoT monitoring technologies

• Expansion of modular and skid-mounted process solutions

• Development of advanced materials for extreme operating conditions

Get Full Report Here: Steel Pressure Vessel and Tank Market – View in Detailed Research Report

The companies profiled above represent not just suppliers of industrial equipment, but critical enablers of global energy and chemical infrastructure.