DUBLIN, May 20, 2019 /PRNewswire/ -- The "Pre-Insulated Pipes Market by Installation (Below Ground & Above Ground), End-use Industry (District Heating & Cooling, Oil & Gas, Infrastructure & Utility), and Region (Europe, North America, APAC, MEA, South America) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global pre-insulated pipes market is estimated to be valued at USD 6.4 billion in 2019 and is projected to reach USD 10.2 billion by 2024, at a CAGR of 9.8% from 2019 to 2024.
Increasing adoption and demand for district heating & cooling systems is driving the overall growth of the pre-insulated pipes market.
Pre-insulated pipes are replacing traditionally insulated pipes in almost all applications due to their increased advantages, such as high efficiency, enhanced insulation, and better physical performance. Pre-insulated pipes are energy efficient as compared with traditionally insulated pipes and prevent heat losses by 40% over traditionally insulated pipes, which directly reflects in cost savings. These factors have resulted in the increasing adoption of pre-insulated pipes in various end-use industries to prevent heat loss and conserve energy.
The below-ground segment of pre-insulated pipes market is projected to grow at the higher CAGR during the forecast period
Based on the installation, the below-ground segment is projected to grow at the higher CAGR between 2019 and 2024. Below ground systems are also known as buried/ underground installations which are the most widely used globally. Long straight below ground installations are preferred as they reduce the requirement for fittings, joints, and welding. Below ground systems are however high on labor and installation costs, since these require digging, both, during installation and maintenance.
Among end-use industries, the district heating & cooling segment is projected to be the largest segment of the pre-insulated pipes market
This segment is estimated to account for the largest share of the global pre-insulated pipes market in terms of value in 2019 and is projected to grow at the highest CAGR during the forecast period. Some of the key advantages provided by pre-insulated pipes are excellent thermal efficiency, lower maintenance, reduced on-site labor, and improved safety, as these are better protected against leakages, and offer superior quality insulation, which minimizes energy loss.
The market in Europe is projected to grow at the highest CAGR in the global pre-insulated pipes market
The pre-insulated pipes market in the European region is projected to grow at the highest CAGR during the forecast period. The demand for housing in Germany is anticipated to grow due to the increasing influx of immigrants from the Middle East. This has led to increased construction activities, especially the construction of housing and commercial establishments, thus creating growth opportunities for the pre-insulated pipes market in the infrastructure & utility segment. Due to the implementation of new regulations, such as NZEB for new buildings and amendments in the Energy Saving Act, there is increasing adoption of pre-insulated pipes, which is driving the market.
Market Dynamics
Drivers
- Growth in district heating & cooling end-use industry segment
- Rising awareness regarding environment and government incentives
- Penetration of pre-insulated pipes in niche applications
Restraints
- Volatility in prices of raw materials
- High cost of pre-insulated pipes
Opportunities
- Investments in emerging economies
- Controlling the cost of labor
Challenges
- Stringent regulatory compliances
- Logistics and certification
Companies Mentioned
- Georg Fischer Ag
- Interplast S.A.
- Kabelwerke Brugg Ag Holding
- Perma-Pipe International Holdings, Inc.
- Polypipe Group Plc
- Uponor Oyj
- Watts Water Technologies, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/lc46gs
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