January 22, 2020
According to the research report titled ‘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’, available at MarketStudyReport.com, the global vacuum insulated pipe market is expected to register an annual installation of 5,000 km by the year 2026.
According to the report, surging investments in chemical, food & beverage, and healthcare industry is a major factor driving the vacuum insulated pipe market growth. Rapid expansion of manufacturing industries coupled with shifting preferences towards gas-based power generation units has boosted the demand for LNG infrastructure which in turn is aiding the market expansion. Increasing installation of pipes in electronic, frozen food, and petrochemical industries due to their low heat loss characteristics will augment the demand for vacuum insulated pipes across the globe.
Cryogenic liquids such as helium, oxygen, and nitrogen are extensively used to preserve human blood and organs as well as to deliver oxygen to patients. Growing demand for cryogenic liquids coupled with rising development of healthcare infrastructure are fueling the vacuum insulated pipe market growth.
As per product type, customized vacuum insulated pipe market segment is presumed to expand significantly during the estimated timeframe. Growing aerospace sector is positively impacting the demand for customized pipes which in turn is facilitating the business scenario.
Based on the application spectrum, the report cites that the food & beverage segment is poised to amass commendable gains in the ensuing years. Increasing sales of packaged and frozen food products have amplified the adoption of vacuum insulated pipes in the food & beverage industry. Escalating disposable income in tandem with rapid smart city development in emerging economies are boosting the growth of the segment.
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As per the regional analysis, the report cites that North America vacuum insulted pipe market is expected to grow with a CAGR of 5% during 2020-2026. Factors such as low maintenance cost, low heat losses, and longer service life are contributing towards the popularity of vacuum insulated pipes across the region. Various governments across North America are promoting the development of food packaging, healthcare, and chemical industries. This factor in consort with rapid expansion of aerospace sector such as passenger aircrafts, space shuttles and light combat aircrafts are propelling the growth of the market.
The prominent companies operating in the vacuum insulated pipe market are Air Liquide, Cryo Anlagenbau GmbH, MAJUS Ltd., PraxEidos Sr., SPS Cryogenics B.V., Thames Cryogenic Ltd., Kelvin Technology, Cryoworld, TMK, Demaco, Cryofab, BRUGG Group AG and Chart Industries.
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