Stratview Research delivers key insights on the global Vacuum Insulated Pipe Market.
The report also covers the Covid impact on the market. Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2021 and an uptrend is witnessed from 2022.
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The Vacuum Insulated Pipe Market was accounted for US$ 730.4 Mn in terms of value in 2021 and is expected to grow at CAGR of 9.0% for the period 2022-2028.
Profiling Key Companies –
Brugg Kabel GmbH
SPS Cryogenics B.V.
Thames Cryogenics Ltd.
Vacuum Barrier Corporation.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Vacuum Insulated Pipe Market value and growth drivers over the trend period of 2022-27. According to the report -
Vacuum Insulated Pipe Market is likely to witness a CAGR of 5.0% during the forecast period. The major factors such as ongoing investments towards aerospace industry along with the rising LNG trade, accelerating spending in the direction of developing natural gas infrastructure owing to upsurge in gas-based generation capacity additions, growing demand for packaged and frozen food products coupled with the growing chemical industry majorly across the emerging economies are expected to positively influence the growth of the market and provide favorable opportunities during the forecast period.
Based on Product Type:
Based on the product type, the market is segmented as standard and customized. The factors such as ongoing investments towards industries such as food & beverage, aerospace and semiconductor, are generating significant growth opportunities to propel the penetration of vacuum insulated pipes in the market. The manufacturing of these pipes are done on the basis of individual requirements for customer, making these pipes useful for controlling the flow of cryogenic liquid at the end-user premises. Furthermore, other factors such as the increasing manufacturing base and rising demand for LNG in various regions, particularly in North America and Europe, and the increase in consumption of oxygen across the healthcare industry accompanied by the rapidly growing demand for packaged food items, meat and dairy products are expected to fuel the growth of the market during the forecast period.
Based on Region:
In terms of regions, Asia-Pacific is estimated to witness a high growth rate, attributed to the increasing investments toward generation capacity addition accompanied by the growth in LNG trade in the market, during the forecast period. Factors such as the development of urban areas, shifting towards generation stations based on gas and strong manufacturing industry growth, dynamic expansion of the industries including chemical, semiconductor and packaged food industry as well, accompanied by the rapidly growing infrastructure, accelerated growth in aerospace sector majorly across China, India, Japan, and South Korea fueling the space industry growth, which is eventually fueling the adoption of product, and complex and changing government policies regarding adoption of sustainable systems are some of the main reasons driving the growth of the market during the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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This informative research report also includes the most recent global events concerning the coronavirus pandemic. The report provides a detailed analysis of the pandemic's impact and the industry's economic scenario. The report consists of tables, graphs, charts, figures, and diagrams, that are used to graphically represent important statistical information.
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- Attractive market segments and associated growth opportunities.
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