Farmington, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The global Vacuum Insulated Pipe market is expected to grow from USD 1.02 Billion in 2022 to USD 2.06 Billion by 2030, at a CAGR of 7.5% from 2022 to 2030. A vacuum insulation pipe is an insulating material that reduces the amount of heat transmission between two objects by using a vacuum. This is accomplished by surrounding the items with an insulating layer of gas molecules, which inhibits direct contact between them. There are numerous applications for vacuum-insulated tubing, including plumbing and HVAC systems. They are essential because they assist maintain a constant temperature and avoid energy loss.
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In various fields, vacuum-insulated tubes facilitate the transport of high-quality cryogenic liquids such as hydrogen, oxygen, and natural gas. They are incredibly safe, dependable, and economical. In addition to reducing liquid refrigerant loss from thermal leaks, vacuum-insulated tubing promotes process safety by preventing freezing and leaking circumstances. Traditional foam-insulated copper pipe has a shorter lifespan than vacuum-insulated copper piping.
Vacuum Insulated Pipe Market Segmentation Analysis:
The standard type is used to move pipes that are thermally insulated and have a vacuum around them. It is made of insulation that can handle high temperatures and has a protective shell to keep the pipe from getting damaged. The growth of this market will be based on two major factors. The first is that more people are using more energy, which is driving up the demand for thermal vacuum insulated pipes. The second is that the construction industry is growing all over the world, which will lead to more buildings using these pipes. Off-the-shelf, or OST, is another name for this type. It is a group of products that are made by different companies to the same standards. They have already been insulated, tested, and are ready to be put in place. The most common use of custom-built pipe is in vacuum insulated pipes (VIP), which are used to move hot and cold fluids like water, steam, slurry, and gases through a building structure, including vacuum insulation buildings (VIB).
Regional Outlook:
During the projection period, North America is anticipated to be the largest region in terms of revenue. This is due to a multitude of causes, including rising industrialization and infrastructural investment, as well as rising demand from oil and gas firms. Asia-Pacific is anticipated to be the largest region in terms of revenue, followed by Europe. In terms of revenue, the Middle East and Africa is anticipated to be the smallest region throughout the forecast period. This is attributable to a number of causes, including slow economic growth and inadequate infrastructure development.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 7.5% from 2023 to 2030 |
| Market Size in 2022 | USD 1.02 Billion |
| Revenue Forecast by 2030 | USD 2.06 Billion |
| By Type | Standard Type, Custom-built Type |
| By Applications | Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing, Others |
| By Companies | Chart Industries, Cryofab, Cryocomp, Acme Cryogenics, Maxcon Industries, PHPK Technologies, Cryeng, Demaco, Cryogas, TMK, Cryoworld, va-Q-tec AG, And Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Vacuum Insulated Pipe Market Dynamics
Industrialization is making more and more people want vacuum-insulated pipes. During the forecast period, the demand for vacuum-insulated pipes is expected to grow because of the high demand from industries like food and beverages, aerospace, food freezing, biological storage, and research.
In the aerospace industry, vacuum-insulated pipes are used on launch pads to deliver liquid hydrogen and oxygen at very high flow rates to power many space programmes. In the food and drink industries, vacuum-insulated pipes help make sure there is a steady supply of liquid nitrogen to keep equipment running at its best and get the most work done. Also, the market for vacuum-insulated pipes is growing because there are more industrial projects going on and planned. All of these things are likely to make the market for vacuum-insulated pipes grow. Also, vacuum-insulated pipes make it easier to instal them and absorb small vibrations and temperature changes in the system. This is why many industries use them.
Vacuum-insulated pipes are expensive to buy at first, which can be a problem for new businesses where cost is an important factor. This is one of the things that holds back the vacuum-insulated pipe market. But manufacturers are putting money into research and development and making vacuum-insulated pipes that last a long time and don't break down when exposed to UV light. This should keep the market for vacuum-insulated pipes healthy over the next few years.
Vacuum Insulated Pipe Market Key Segments Covered:
Top Market Players:
Chart Industries, Cryofab, Cryocomp, Acme Cryogenics, Maxcon Industries, PHPK Technologies, Cryeng, Demaco, Cryogas, TMK, Cryoworld, va-Q-tec AG, And Others.
Vacuum Insulated Pipe Market by Types:
- Standard Type
- Custom-built Type
Vacuum Insulated Pipe Market by Applications:
- Cryogenic
- Food & Beverage
- Aerospace
- Electronic Manufacturing & Testing
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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