December 31, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Europe Vacuum Insulated Pipe Market Size By Product (Standard, Customized), By Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing), Industry Analysis Report, Country Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020-2026’, Europe vacuum insulated pipe market was worth USD 250 million in 2019 and is presumed to record an installation of 1400 km by the year 2026.
Surging trade of cryogenic liquid including LNG due to rising consumption of natural gas for power generation is the key factor propelling the growth of Europe vacuum insulated pipe market. Rising public and private investment in healthcare sector, in tandem with government schemes to provide medical services to people in rural and remote areas will also contribute towards the market growth.
Further, strict energy efficiency policies across developed nations is expected to drive the industry growth. Not to mention, shifting emphasis towards a gas-based power plant in the light of supportive regulatory directives and ongoing cessation of coal-based power stations will positively impact the market outlook.
In terms of product, Europe vacuum insulated pipe market is divided into standard and customized pipes. The report claims that the former segment was valued at USD 200 million in 2019, owing to the ease of transportation offered by these firm steel pipes at comparatively low cost. These pipes are used to transfer cryogenic liquids like oxygen, nitrogen, and LNG.
Based on application, Europe vacuum insulated pipe market from cryogenic segment is anticipated to gain decent growth in the upcoming years. The growth can be attributed to rising consumption of natural gas by booming energy-intensive industries, including chemical, food & beverage, and refining.
Speaking of food & beverage segment, the production across the regions of Europe was worth USD 197.94 billion in 2018, claims the report. This lucrative growth of the segment will fuel the food packaging sector, which in turn will stimulate the demand for vacuum insulated pipes.
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Considering regional landscape, France vacuum insulated pipe market is expected to increase over 5% through the year 2026. Increasing LNG trade as well as rapid development of manufacturing industry, inflow of investments in aerospace industry, and adoption of energy-efficient protocols are augmenting regional market expansion.
Some of the vendors that operate in Europe vacuum insulated pipe market are Air Liquide, Chart Industries, TMK, Demaco, SPS Cryogenics Ltd., Kelvin Technology, Cryoworld, BRUGG Group AG, and Vacuum Barrier Corp. among others.
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