Recreational Pressure Vessels Market to Witness Mounting Growth in Approaching Time

Stratview Research has published a new report titled “Recreational Pressure Vessels Market” which is segmented by Application Type (SCUBA and Paintball), by Pressure Vessel Type (Type I, Type II, and Type III), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Report Highlights

The market for recreational pressure vessels is projected to grow at a healthy CAGR of 4.3% over the next five years to reach US$ 201.3 million in 2026.

The market is bifurcated into various segments. Below given is the segment-wise analysis -

Application Type:

• The market is bifurcated into SCUBA and paintball.
• Despite witnessing a massive plunge in 2020, SCUBA dominated the market in the year 2020 and is expected to maintain its unquestionable position during the forecast period as well.
• Type-I pressure vessel rules the SCUBA diving tanks with more than 90% share.
• The increasing inclination of people towards amusement and recreational activities has caused a positive impact on the diving industry, which is a major reason for the dominance of the segment.

Pressure vessel Type:

• The market is segmented into type-I pressure vessels, type-II pressure vessels, and type-III pressure vessels.
• Type-I led the recreational pressure vessel market in 2020, due to its huge dominance in both, SCUBA as well as paintball game applications.
• For paintball application, type-III pressure vessel is expected to exhibit the highest growth during the forecast period as it can hold more pressure that allows more shots per pressure vessel, compared to the type-I pressure vessels.

Regional Insights on the Recreational Pressure Vessels Market

• Asia-Pacific is expected to remain the largest as well as fastest-growing recreational pressure vessels market during 2021-26.
• China, Australia, and South-East Asia are the major contributors to the region’s dominant position.
• These countries have huge incoming tourists coupled with increased willingness to spend on experiential and recreational activities.

Who are the Key Players in the Market?

This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Recreational Pressure Vessels Market:

• Catalina Cylinders
• Cylinders Holding Group
• Eurocylinder systems AG
• FABER INDUSTRIE SPA
• Luxfer Holdings PLC
• Metal Mate Co., Ltd.
• Shanghai Qilong High Pressure Container Co., Ltd.
• Shenyang Gas Cylinder Safety Technology Co., Ltd.
• TriMas Corporation
• Worthington Industries, Inc.

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Key questions answered by the report

• What is the projected CAGR for revenue from the Recreational Pressure Vessels Market during the forecast period?
• What would be the market be valued at by 2027?
• What is a major driving factor for growth of the market?
• Which region accounted for largest revenue share in the Recreational Pressure Vessels Market?
• Which are the major market players?

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Article source: https://article-realm.com/article/Finance/26450-Recreational-Pressure-Vessels-Market-to-Witness-Mounting-Growth-in-Approaching-Time.html