Europe Vacuum Insulated Pipe Market size is anticipated to surpass USD 450 Million by 2028, as reported in the latest study by Global Market Insights Inc.
Europe vacuum insulated pipe industry will witness a significant growth owing to positive outlook toward the refurbishment of healthcare industry along with the growing LNG trade across the region. The governments of respective countries are inclining toward the use of natural gas over other fossil fuels, which in turn will drive the requirement for vacuum insulated pipes for effective handling of these gases and liquids. Additionally, ongoing investments toward various space programs along with upsurge in infrastructural expenditure for the development of liquefaction plants for natural gas will positively influence the installation of these units and thus proliferate the European market share.
Increasing investments across the aerospace and healthcare industry will sway the adoption of customized pipes
The customized vacuum insulated pipe demand is anticipated to grow in the coming years on account of the soaring investments in the aerospace industry. These pipes are manufactured based on the industry requirement and are utilized for the controlled flow of cryogenic liquid across various applications. Furthermore, ongoing outbreak of coronavirus has fueled the demand of oxygen across the medical facilities which will require reliable mode of transportation and handling, thereby producing growth opportunities for the customized vacuum insulated pipes across Europe.
Browse key industry insights spread across 150 pages with 139 market data tables & 34 figures & charts from the report, “Europe Vacuum Insulated Pipe Market Statistics By Product (Standard, Customized), Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing, Healthcare), Industry Analysis Report, Country, Application Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
Ongoing upgradation of healthcare sector will boost the product penetration
Various private organizations operating in medical industry are readily investing in the upgradation and refurbishment of their hospitals in order to augment their service portfolio. Moreover, the governments of various countries in the region are further investing in schemes and programs to provide medical facilities and service to the rural population, which in turn will propel the product adoption in the region. For instance, the European Union has introduced ‘EU4Health’ in response to the ongoing pandemic and will provide USD 6.01 billion to improve pharmaceutical and healthcare services across the EU nations. This is anticipated to significantly surge the demand for efficient liquid gases including oxygen and nitrogen, thereby driving the Europe vacuum insulated pipe market statistics over the forecast period.
Increasing demand of natural gas along with strict emission policies will drive the product demand across Norway
Norway vacuum insulated pipe market will experience a substantial growth on account of the increasing role of sustainable energy technologies owing to the strict energy security policies imposed by the government. The policy makers are gradually shifting toward much cleaner fuels including natural gas for numerous applications including power generation, in order to minimize their overall emissions, which in turn will augments the vacuum insulated pipes for efficient transportation of LNG. Moreover, Norway is amongst the major exporter of LNG across Europe, thereby providing a significant growth opportunity for the technology in the country over the coming years.
Ongoing advancements in cryogenic technologies followed by dynamic consumer requirements will provide a positive outlook for industry expansion
The coronavirus outbreak resulted in the supply chain disruptions, shortage of labor and raw materials owing to lockdown impositions & the shutting down of several manufacturing and industrial units. However, growing demand for cryogenic technologies across industries including healthcare, chemical and others along with governmental measures to resume operations will complement the industry statistics.
Strategic collaborations and innovations in-line with ongoing mergers by eminent players will boost the Europe vacuum insulated pipe market size
Strategic implications including mergers, agreements, joint ventures, and partnerships amongst the leading companies will augment the business outlook. For instance, In October 2021, TMK and Gazprom signed an exclusive agreement to cooperate on technical and scientific cooperation program for another five-year period spanning from 2021 to 2025. Under this agreement, both companies will develop new products including new hi-tech pipe products for gas transmission with extreme climatic conditions. The collaboration between the companies will allow them to offer extensive product and service support, which will proliferate their market presence in the coming years.
The prominent players functioning in the Europe vacuum insulated pipe market include Chart Industries, CRYOSPAIN, PraxEidos Srl, SPS Cryogenics B.V., Cryo Anlagenbau GmbH, Air Liquide, INOXCVA, TMK, Demaco and BUGG GROUP AG amongst others.