Vacuum Insulated Pipe Market size in Europe to exceed $300mn by 2026
Published Date: October 16, 2019 Authors: Ankit Gupta, Abhishek Chopra
Europe Vacuum Insulated Pipe Market size is expected to surpass USD 300 Million by 2026, as reported in the latest study by Global Market Insights, Inc.
The vacuum insulated pipe market is witnessing a substantial growth on account of increasing LNG trade. Over the past few years the natural gas consumption has grown significantly across energy-intensive industries including iron & steel, refining, pulp & paper and others. In addition, the shifting focus toward gas based economy owing to industry inclination toward natural gas based power generating systems has provided favorable business scenario for expansion. The availability of limited pipe infrastructure for transfer of cryogenic liquid has resulted in adoption of these pipes to suffice the gas loss. Therefore, the industry players are now investing extensively toward the deployment of these pipes to enhance reliable supply of liquids and energy security.
Positive outlook toward healthcare industry
Increasing government spending across the healthcare industry is anticipated to accelerate the vacuum insulated pipe market. The healthcare sector deploys these pipes, primarily for the distribution of liquid nitrogen, oxygen, and other cryogenic gases for biological purposes, preservation of organs & blood, and for providing respiratory oxygen to patients. The industry players are continuously investing in upgrading the existing hospitals and improving their service portfolio, leading to an improved business outlook. In addition, the government organizations are also focusing on the facilitation of basic healthcare services and the construction of new facilities in off-grid and rural areas thereby, enhancing the product demand.
Increasing investments toward aerospace industry is driving the customized pipe growth
Increasing investments toward aerospace, food & beverage, and electronic manufacturing industries have urged the demand for customized product. These pipes are manufactured based on the industry requirement and being used for the controlled flow of cryogenic liquid across applications. In addition, the increasing demand for oxygen across the healthcare sector along with the growing meat, dairy, and packaged food industry will provide immense opportunities to the industry players for expansion.
Browse key industry insights spread across 145 pages with 144 market data tables & 33 figures & charts from the report, “Europe Vacuum Insulated Pipe Market Size By Product (Standard, Customized), By Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing), Industry Analysis Report, Country Analysis (UK, Germany, Italy, France, Spain, Poland, Russia, Norway, Netherlands), Application Potential, Price Trend, Competitive Market Share & Forecast, 2020–2026” in detail along with the table of contents:
Surging cryogenic applications are enhancing vacuum insulated pipe installation
The increasing demand for cryogenic liquid including LNG has witnessed a significant growth in the past few years on account of volatility in the crude oil prices. As a result, there has been an upsurge in the import & export of liquified natural gas across the region. In addition, the combination of competitive gas prices and supportive clean fuel policies has led to the construction of new natural gas-fired plants and retirement of coal-fired power plants. The respective governments of France and the UK have announced plans to phase out coal-fired power plants and increase their share in low carbon emitting energy sources over the next decade. The influx of FDI in the gas transportation including France, Spain, UK and Italy will stimulate the Europe vacuum insulated pipe market.
Favorable government policies toward natural gas & clean energy sources has fueled the Germany vacuum insulated pipe industry
The German regulatory framework is currently focusing on the phasing out of nuclear plants and their implication on economic growth. There have been huge government-focused developments related to energy production from renewable sources and natural gas. There has been a constant increase in the consumption of electricity across the nation, which has instituted favorable scenarios for the development of gas-based power plants. In addition, the shifting focus toward the development of Tier II & III cities has positively influenced the business growth. Advancements in technology have led to extensive innovations and research & development, strengthening the product adoption. In addition, the incentives and subsidies provided by the government will also positively influence the industry growth.
Key industry players across the Europe vacuum insulated pipe market include Cryo Anlagenbau, Chart Industries, MAJUS, TMK, PraxEidos, Air Liquide, SPS Cryogenics, Cryofab, Thames Cryogenic, Demaco, Vacuum Barrier and Cryoworld. These companies are investing extensively toward mergers and acquisitions to expand their presence and dealer network across the region.