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The current study has attempted to comprehensively review ratcheting response of materials involving various influential parameters such as loading spectra, thermal cycles, stress levels, stress raisers, strain rate, and visco‐plasticity and material types with a focus on pressurized pipes and equipment. The mechanism of deformation, types, and the rate of progress over stages of ratcheting were discussed. Safety design codes and procedures were highlighted for reliable design of pressurized pipes against progressive ratcheting and to safeguard the system against catastrophic failure at which both mechanical and thermal ratcheting were integrated. Boundaries and demarcation of ratcheting‐shakedown zones developed based on Bree's diagram were employed to assess plastic deformation accumulation over stress cycles. Shakedown and ratcheting boundaries were discussed through methods developed on the basis of Melan's theorem over last few decades. Ratcheting response of materials was reviewed through descriptions of parametric models and kinematic hardening rules involving various variables and parameters. Interaction of ratcheting with creep and low‐cycle fatigue has promoted progressive damage in materials. Pressurized pipes subjected to thermal cycles and external bending cycles were evaluated by numerical solutions along with kinematic hardening rules to assess ratcheting over stress cycles.

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