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Large Bore Vacuum Insulated Pipe Market Size By Installation (Above Ground, Underground, Under Sea), By Application (Cryogenic, Aerospace, Chemical), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI5340
  • Published Date: Sep 2022
  • Report Format: PDF

Industry Drivers

Large Bore Vacuum Insulated Pipe Market size surpassed USD 61 million in 2021 and is anticipated to depict a CAGR of over 7.5% from 2022 to 2030. The rising demand for liquified natural gas (LNG) is said to bolster the industry growth.
 

Large Bore Vacuum Insulated Pipe Market

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According to the International Energy Agency (IEA), more than one hundred billion cubic meters of new LNG supply is planned to be commissioned by 2023, with most of these inclusions coming from the United States and Australia. Furthermore, the LNG imports across the Asia Pacific registered around 346.3 bcm in 2021, indicating a rise of 6% from 2011. Moreover, the implementation of stringent greenhouse gas (GHG) norms to limit emissions will further augment large bore vacuum insulated pipe market outlook through 2030.
 

Advancements in containment technology for above-ground installations

The above-ground installation segment is projected to register a growth rate of about 8% through 2030. This is mainly accredited to the surging number of integrated gasification combined cycle (IGCC) projects. The IGCC technology integrates the generation of electricity and the generation of purified gas.

 

Environmentally, the technology reduces sulfur dioxide, mercury, and particulates as well as carbon dioxide, particularly when combined with CCS (carbon capture and storage). Moreover, continuous advancements in containment technology to enhance vacuum-insulated piping systems have allowed for inventive methods in pipes designed to transport cryogenic liquids.
 

Increased trading of cryogenic liquids

Large Bore Vacuum Insulated Pipe Market, By Application

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The cryogenic application of large bore vacuum insulated pipe market is expected to register remuneration worth of USD 78 million by 2030. Advancements toward the exploration and generation of oil & gas resources to bridge the demand-supply gap have created favorable growth opportunities for industry players. Additionally, the rise in the export and import of cryogenic liquids such as helium, hydrogen, LNG, and nitrogen will augment business growth. Moreover, the sector has become inclined toward natural gas power facilities, triggering a trending shift toward a gas-oriented economy and in turn boosting product demand.
 

Stringent energy regulations in Europe

Europe Large Bore Vacuum Insulated Pipe Market

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The Europe large bore vacuum insulated pipe market is expected to attain around 6% gains between 2022 and 2030. Rigid policies concerning energy security along with growing LNG trade throughout Europe are expediting market statistics. As per the European Commission, around one-quarter of all energy utilized in the EU is natural gas, with Russia and Norway serving as prominent exporters of LNG. Many countries in South East Europe rely on a single supplier for most of their natural gas. Therefore, to diversify their supplies, the Southern Gas Corridor offers a pipeline infrastructure that brings gas from the Caspian Basin to the EU.
 

Collaborative efforts from prominent players to enhance industry revenues

Some of the top companies in the large bore vacuum insulated pipe business scenario include CRYOSPAIN, Ability Engineering Technology, Inc, INTECH GmbH, Cryogas Equipment Pvt. Ltd., Demaco, Schwanner GmbH, PERMA-PIPE International Holdings, Inc, Maxcon Industries Pty. Ltd, Cryoworld, and TMK.
 

Some of these companies are signing high-value product procurement contracts to extend their business operations and reinforce their position. For instance, in March 2022, PERMA-PIPE was granted a USD 15.5 million contract in Saudi Arabia and Egypt. Under this contract, the company delivered a PermAlert leak detection system, XTRU-THERM insulation system as well as insulated pipelines.
 

Impact of COVID-19 on large bore vacuum insulated pipe market

The COVID-19 pandemic had a significant impact on the energy industry, which may have hampered industry progress in the initial months. Stringent lockdown measures disrupted power supply chains worldwide. Additionally, reduced economic activity curbed energy consumption across a variety of industries.
 

As per the IEA, overall energy usage was reduced by 4% during the pandemic. However, the introduction of vaccines and stimulus packages has allowed some economic activity to return to normalcy. This also includes global energy demand, which increased by 4.6% in 2021, surpassing pre-pandemic levels.  Thus, with the energy sector gradually recovering from the residual impacts of the COVID-19 crisis, the large bore vacuum insulated pipe industry may witness substantial development by 2030.
 

This market research report on large bore vacuum insulated pipe includes in-depth coverage of the industry with estimates & forecast in terms of “km” & “USD” from 2018 to 2030 for the following segments:

Market, By Installation

  • Above ground
  • Under ground
  • Under sea

Market, By Application

  • Cryogenic
  • Aerospace
  • Chemical
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • Italy
    • France
    • Spain
    • Russia
    • Norway
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Thailand
    • Malaysia
    •  Australia
  • Middle East & Africa
    • Kuwait
    • Oman
    • Saudi Arabia
    • UAE
    • Qatar
    • South Africa
  • Latin America
    • Brazil
    • Argentina
       
Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The market size of large bore vacuum insulated pipe was valued at over USD 61 million in 2021 and is anticipated to depict 7.5% CAGR through 2030, owing to the growing use of LNG in developing nations.

The above-ground installation segment is expected to register a growth rate of over 8% through 2030, due to rapid advancements in containment technology.

The Europe large bore vacuum insulated pipe industry to attain over 6% gains during 2022-2030, due to strict energy security policies in the region.

CRYOSPAIN, Ability Engineering Technology, Inc, INTECH GmbH, Cryogas Equipment Pvt. Ltd., Demaco, Schwanner GmbH, PERMA-PIPE International Holdings, Inc. are some of the key contenders holding a substantial fragment of the industry share.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 10
  • Tables & Figures: 572
  • Countries covered: 26
  • Pages: 300

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