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Vacuum Insulated Pipe Market Size By Product (Standard, Customized), By Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing, Healthcare) & Forecast, 2023-2032

  • Report ID: GMI4446
  • Published Date: Feb 2023
  • Report Format: PDF

Vacuum Insulated Pipe Market Size

Vacuum Insulated Pipe Market size valued at USD 1.1 billion in 2022 and is projected to expand at more than 5% CAGR from 2023 to 2032, driven by the increasing investments in the development of gas-based power generation plants.

Vacuum Insulated Pipe Market

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Governments across the world are encouraging private sector involvement and are working to increase the capacity and security of the supply of liquefied natural gas. Moreover, new LNG projects are fueled by a short-term surge in natural gas demand in Europe and Asia resulting from the Russia-Ukraine war and the sanctions and limitations imposed on Russian gas exports. As the global energy crisis worsens, investments in LNG infrastructure are set to grow. Thus, raising the demand for vacuum-insulated pipes, a preferred choice for the reliable, safe, and cost-effective transmission of cryogenic liquids.

Concerns about cryogenic liquids to restrict product uptake

Cryogenic liquids are carried at extremely low temperatures, resulting in a variety of risks, such as fire, explosions, material embrittlement, and others. Contact with these liquids causes thermal burns, injury, and damage to the lungs and other regions of the body. Increasing concerns among organizations regarding gas leaks, which might have unforeseeable effects, may impede the industry expansion.

On the other hand, the accelerating efforts by major vacuum-insulated pipe manufacturers toward integrating robust materials and sophisticated technologies to produce leak-proof proof piping systems to assure the safe and dependable transfer of dangerous gases and liquids will favor industry growth.

Vacuum Insulated Pipe Market Analysis

Vacuum Insulated Pipe Market Share

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In terms of application, the vacuum insulated pipe market from cryogenic segment surpassed over USD 400 million in 2022. Transmission of cryogenic materials and other related products needs reliable methods to prevent container combustion during shipping or storage. The growing investments in the import and export of natural gas from the gulf region are likely to support the segment growth. For instance, in November 2022, QatarEnergy, [IB1] a state-owned energy corporation, signed a 27-year natural gas supply agreement with China, under which it would supply four million tons of LNG annually from its new North Field East project to China’s petroleum and chemical corporation, Sinopec.

Authors: Ankit Gupta, Abhishek chopra

Frequently Asked Questions (FAQ) :

The vacuum-insulated pipe market size crossed USD 1.1 billion in 2022 and is predicted to register at over 5% grains through 2032, owing to the massive investments in the development of gas-based power generation plants globally.

The cryogenic segment garnered over USD 400 million in revenues in 2022, backed by the increasing natural gas imports to and from gulf countries.

The Europe market is set to witness over 5% CAGR through 2032 due to the growing number of government's urban development programs promoting the shift towards sustainable resources.

Vacuum Barrier Corporation, Cryofab, Demaco, Cryoworld, CRYOSPAIN, Cryo Anlagenbau GmbH, BRUGG GROUP, Cryogas Equipment Pvt. Ltd., Schwanner GmbH, and the Maxcon Industries Pty. Ltd. are some of the major enterprises operating in the industry.

Vacuum Insulated Pipe Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 17
  • Tables & Figures: 700
  • Countries covered: 32
  • Pages: 663
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