Vacuum Insulated Pipe Market is expected to surpass USD 1 Billion by 2026, as reported in the latest study by Global Market Insights Inc.
The vacuum insulated pipe industry size is projected to witness strong growth on account of accelerating LNG trade and increasing investments toward development of chemical industry. Low heat leak, longer service life, ease of expansion and lower maintenance cost are few prominent features favoring the vacuum insulated pipe market growth. Conversely, the industry is being steadily infiltered by foam insulated materials owing to there lower installation cost and comparatively lower cost. However, the ability of these pipes to reduce the heat loss across various applications and competitive product price are some of the key factors which will sustain their dominance in the forecast timeframe.
Increasing investments across aerospace sector is propelling the vacuum insulated pipe industry growth
Upsurge in investments toward development of aerospace sector along with rapid advancement of space technologies has provided opportunities for industry expansion. Shifting passenger requirements driven by the expansion in customer technology and upsurge in number of digitally updated customers has also led to rapid advancement in the aerospace industry, thereby boosting the demand for vacuum insulated pipes. For instance, the European Union has developed SRIA roadmap to develop guidelines for the development of aerospace industry in the member nations. In addition, increasing investments toward development of unmanned air vehicles primarily for commercial and military purposes on account of security concerns and ease of delivery of goods will positively influence the product demand. The industry players in the aerospace sector are investing aggressively toward research & development, plant modernization and other facilities to effectively cater the demand for military aircrafts and growing passenger traffic.
Browse key industry insights spread across 240 pages with 438 market data tables & 33 figures & charts from the report, “Vacuum Insulated Pipe Market Size By Product (Standard, Customized), By Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Standard pipes driving the industry revenue
Standard pipes have witnessed an increased market demand and wide customer acceptance in the past years owing to growing LNG trade and increasing investments toward chemical and healthcare industry. Low cost, ease of installation in the long distance and lower heat loss are some of the key features supporting the installation of vacuum insulated pipes over the other available alternatives. Over the past years, the LNG demand has witnessed an exponential growth as there has been a paradigm shift toward gas-based power generating station and retirement of coal-based plants. The installation of standard pipes is set to witness substantial market share with the growing demand for oxygen, nitrogen and natural gas for various purposes. In addition, increasing FDI across healthcare services, food & beverage industry including frozen food items, dairy and meat will accelerate the vacuum insulated pipe market demand.
Accelerating manufacturing sector along with increasing LNG trade is set to drive North America market size
North America industry demand is dynamically driven by the evolution of the manufacturing sector and increasing exploration of natural gas reserves in the region. Favorable government policies pertaining to the advancement of efficient emission systems have considerably widened the installation spectrum for these pipes. Rise in disposable income and technological advancement relating to the product innovation have also supported leading manufacturers to invest in the region contributing to a significant industry expansion. Furthermore, replacement of conventional pipes coupled with rising consumer awareness for the adoption of sustainable solutions will continue to augment the business development. The scenario for vacuum insulated pipes has evolved over time with expansion of manufacturing base and increasing rate of infrastructure development across the region. The accelerating investments by leading industry players to expand their business will boost the industry growth in the years to come.
Leading industry players operating across the vacuum insulated pipe market comprises Air Liquide, TMK, Chart Industries, SPS Cryogenics, Demaco, Thames Cryogenic, Vacuum Barrier, MAJUS, Cryo Anlagenbau and Cryofeb. Extensive investments toward mergers & acquisitions to expand their industry presence has been a key strategy adopted by industry players. In addition, shifting of manufacturing base across developing nations has provided significant opportunities for business expansion.