1. Introduction of Hot Isostatic Pressing Types
Based on type, Hot Isostatic Pressing is divided into services and equipment.
Services refers to the use of Hot Isostatic Pressing technology and Hot Isostatic Pressing equipment to provide high-performance material processing, parts manufacturing and other services.
Equipment refers to equipment consisting of high-pressure vessels, heating furnaces, compressors, vacuum pumps, gas storage tanks, cooling systems and computer control systems.
2. Global Hot Isostatic Pressing Market Revenue by Type
The global revenue of the services category was US$508.13 million in 2018 and will increase to US$787.13 million in 2023, showing a high market share and growth trend. In contrast, the revenue of the equipment category, although lower, also showed an upward trend, from $115.52 million in 2018 to $156.16 million in 2023.
Table Global Hot Isostatic Pressing Revenue (Million USD) by Type (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Services | 508.13 | 575.04 | 534.90 | 619.30 | 701.93 | 787.13 |
Equipment | 115.52 | 127.58 | 121.63 | 131.77 | 142.91 | 156.16 |
Total | 623.65 | 702.62 | 656.53 | 751.07 | 844.83 | 943.29 |
Overall, the service category dominates the global Hot Isostatic Pressing market, with a market share of 81.48% in 2018 and continued to grow in subsequent years, reaching 83.44% in 2023, showing a continuous increase in demand for services. At the same time, although the market share of equipment types is relatively small, from 18.52% in 2018 to 16.56% in 2023, it still maintains a stable market demand.
Table Global Hot Isostatic Pressing Revenue Market Share by Type (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Services | 81.48% | 81.84% | 81.47% | 82.46% | 83.08% | 83.44% |
Equipment | 18.52% | 18.16% | 18.53% | 17.54% | 16.92% | 16.56% |
Total | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
