According to The Insight Partners new research study on the Pressure Vessel Composites Market was valued at US$ 758.36 million in 2019 and is projected to reach US$ 3,539.95 million by 2027; it is expected to grow at a CAGR of 21.4% during 2020–2027.
In 2019, Asia Pacific accounted for the largest share of the market, followed by Europe and North America. The highest market share is due to the increased automotive production is a key driver of market growth in this region. Besides, the growing number of power plants in countries such as China and India are driving demand growth of pressure vessel composites in the region.
