A kind of typical PET bottle was studied, and the corresponding structure model was built. When the vertical load was loaded using ANSYS, on the basis of buckling analysis, the PET bottle's theoretical axial crushing load and the deformation at critical point were obtained. The value of axial crushing load was measured by the experiment. The result of comparison between theoretical value and experimental value showed that the error is small and acceptable. The theoretical analysis was proved to be valid. By computing with ANSYS, the influences of different kinds of structure, sizes and locations of grooves on axial load bearing capacity were obtained.