Global Vacuum Insulated Pipe Market Forecast to 2028 - COVID-19 Impact and Analysis
DUBLIN, Sept. 8, 2021 /PRNewswire/ -- The "Vacuum Insulated Pipe Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product (Standard and Customized), Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing, and Others)" report has been added to ResearchAndMarkets.com's offering.
The global vacuum insulated pipe market was valued at US$ 920.5 million in 2020 and is projected to reach US$ 1,386.3 million by 2028; it is expected to grow at a CAGR of 5.25% from 2020 to 2028.
The vacuum insulated pipe market is expected to witness considerable growth during the forecast period. The use of vacuum insulated pipe in LNG application is growing due to its advantages such as reduce reliquefication, less liquid losses, and higher LNG flow over greater distances, which is driving the growth of the vacuum insulated pipe market. In addition, the rising demand for vacuum insulated pipe among the end users due to its superior insulation properties, durability, and maintenance-free operations is further accelerating the growth of the market.
The vacuum insulated pipe market is segmented on the basis of product and application. Based on product, the customized segment is expected to register a higher CAGR growth during the forecast period. The market growth for this segment is attributed to the increasing demand for customized vacuum insulated pipe in oil & gas, energy, and healthcare sectors due to the industry's specification systems. Based on the application, the food & beverage segment is expected to hold the dominant market share. The increasing per capita income of consumers along with development of food packaging sector are the key factors propelling the growth of the food & beverage sector. Moreover, the increasing trade of packaged food and frozen products has provided lucrative business opportunities to the market for the customized segment.
According to the latest report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among the worst affected countries due to COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide and the global economy witnessed a worst hit in 2020 and it is likely to continue in 2021 also. The outbreak has created significant disruptions in primary industries such as food & beverage, medical, energy & power, electronics & semiconductor, petroleum, and chemicals. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted manufacturing, supply, and sales of industrial equipment that are required for the manufacturing of vacuum insulated pipe. A significant decline in the activities in industries is hindering the growth of the global vacuum insulated pipe market.
A few major players operating in the global vacuum insulated pipe market are TMK; Air Liquide; Chart Industries Inc.; Senior Flexonics; Acme Cryogenics; Cryeng Group Pty Ltd.; Cryofab; Cryowork, Inc.; Demaco; and Sps Cryogenics B.V.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Vacuum Insulated Pipe Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia-Pacific
4.2.4 Middle East and Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Vacuum Insulated Pipe Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Supportive Clean Fuel Policies
5.1.2 Growing Oxygen Consumption in Healthcare Sector
5.2 Key Market Restraints
5.2.1 Complications Associated with Cross-Border Transportation via Pipelines
5.3 Key Market Opportunities
5.3.1 Discovery of New Oil & Gas Reserves
5.4 Future Trends
5.4.1 Ongoing Technological Advancements in Exploration of Unconventional Oil & Gas Resources
5.5 Impact Analysis of Drivers and Restraints
6. Vacuum Insulated Pipe Market - Global Analysis
6.1 Vacuum Insulated Pipe Market Global Overview
6.2 Vacuum Insulated Pipe Market - Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Vacuum Insulated Pipe Market Analysis - By Product
7.1 Overview
7.2 Vacuum Insulated Pipe Market Breakdown, By Product Type, 2020 and 2028
7.3 Standard
7.3.1 Overview
7.3.2 Standard Market Revenue and Forecasts to 2028 (US$ Mn)
7.4 Customize
7.4.1 Overview
7.4.2 Customize Market Revenue and Forecasts to 2028 (US$ Mn)
8. Vacuum insulated pipe Market Analysis - By Application
8.1 Overview
8.2 Vacuum Insulated Pipe Market Breakdown, By Application, 2020 and 2028
8.3 Cryogenic
8.3.1 Overview
8.3.2 Cryogenic Market Revenue and Forecasts to 2028 (US$ Mn)
8.4 Food and Beverage
8.4.1 Overview
8.4.2 Food and Beverage Market Revenue and Forecasts to 2028 (US$ Mn)
8.5 Aerospace
8.5.1 Overview
8.5.2 Aerospace Market Revenue and Forecasts to 2028 (US$ Mn)
8.6 Electronic Manufacturing and Testing
8.6.1 Overview
8.6.2 Electronic Manufacturing and Testing Market Revenue and Forecasts to 2028 (US$ Mn)
8.7 Others
8.7.1 Overview
8.7.2 Others Market Revenue and Forecasts to 2028 (US$ Mn)
9. Vacuum Insulated Pipe Market - Geographic Analysis
10. Vacuum Insulated Pipe Market- COVID-19 Impact Analysis
10.1 Overview
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Middle East and Africa
10.6 South America
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 AIR LIQUIDE SA
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Acme Cryogenics
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Chart Industries, Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 CRYENG GROUP PTY LTD.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Cryofab
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 CRYOWORKS, INC.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 DEMACO.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Senior Flexonics
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 SPS CRYOGENICS B.V.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 TMK
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
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