Life Support Pressure Vessels Market Analysis

Market Insights

Stratview estimates the life-support pressure vessels market has reached a landmark figure of US$ 465.9 million in 2020, surpassing all its previous years market values from 2015-2019 and is likely to grow at a CAGR of 6.1% during 2021-2026.

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About Life-Support Pressure Vessels - 

Life-support pressure vessels include pressure vessels used to store medical oxygen gas and those used in a self-contained breathing apparatus (SCBA) set. Medical oxygen pressure vessels are not only used in hospitals but also in other applications, such as home care, aviation, and emergency services. Similarly, SCBA pressure vessels are also used in a wide number of applications, such as industrial sites, escape sets, military, firefighters, and first responders. Considering the global market scenario, steel/aluminum-made pressure vessels rule the medical oxygen market, whereas composite pressure vessels hold the leading position for SCBA application.

Key Players

The supply chain of this market comprises raw material suppliers, pressure vessel manufacturers, and OEMs/ gas companies. Following are the key players in the market.

• Beijing Tianhai Industry Co., Ltd.
• Cylinders Holding Group
• Drägerwerk AG & Co. KGaA
• Everest Kanto Cylinder Ltd.
• FABER INDUSTRIE SPA
• Luxfer Holdings PLC
• Shanghai Bene High Pressure Container Co., Ltd.
• Shenyang Gas Cylinder Safety Technology Co., Ltd.
• TriMas Corporatio
• Worthington Industries, Inc.

Covid-19 Impact

The COVID-19 pandemic brought severe consequences for various end-use industries all across the globe.

• However, the case for life-support pressure vessel market was bit different. This was because of the sudden spike in the demand for medical oxygen to treat the constantly increasing COVID-19 patients.
• As of February 2021, the need for oxygen pressure vessels has increased to 1.1 million units alone in low- to middle-income countries.
• The long-term outlook of the life support pressure vessels market also seems to be loaded with a plethora of growth opportunities for the SCBA and medical oxygen pressure vessel manufacturers. 
• The increasing awareness about the importance of well-equipped firefighting services, rising trend of providing oxygen therapy to patients at home, and increase in respiratory diseases are likely to be the major driving factors for the market’s promising growth in the coming years.

Segment Analysis

Application Type

The Market is segmented into SCBA and medical oxygen pressure vessels. Medical oxygen pressure vessels governed the market in 2020 and will be the fastest-growing segment during the forecast period, owing to the sudden increase in the demand for medical oxygen pressure vessels to treat the enormous numbers of the COVID-19 patients.

Pressure Vessel Type

The market is segmented into type-I, type-II, type-III, and type-IV pressure vessels. Type-I lead the life-support pressure vessels market in 2020. However, Type-III is expected to grow at the fastest pace during the forecast period, driven by the increasing demand for lightweight pressure vessels in SCBA application and the gradual shift to paramedics who need portable and lightweight pressure vessels for treatment of patients.

Regional Analysis

Asia-Pacific not only dominated the market in 2020, but it is also expected to grow at an excellent rate during the forecast period, driven by the increasing adoption of more modern SCBA equipment by Asian economies, increase in healthcare expenditure, and the increasing cases of respiratory diseases in the region.

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The market is segmented into the following categories:

By Fuel Type

• SCBA
• Medical Oxygen

By Pressure Vessel Type

• Type-I Pressure Vessels
• Type-II Pressure Vessels
• Type-III Pressure Vessels
• Type-IV Pressure Vessels

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Italy, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: The UAE, Saudi Arabia, Brazil, and Others)

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis.
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Trend and forecast analysis.
• Segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s life-support pressure vessels market realities and future market possibilities for the forecast period of 2021 to 2026.

The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com