Vacuum Insulated Pipe Market: Global Industry Analysis and Forecast (2024-2030) Trends

Vacuum Insulated Pipe Market Definition:

Cryogenic liquids, including hydrogen, oxygen, natural gas, and other liquid gases, are transferred through vacuum-insulated pipes at cryogenic temperatures. There are two pipes in this system: an inner pipe that transports cryogenic liquid and an outer pipe that seals and sustains the vacuum insulation, forming a vacuum jacket around the inner pipes. A series of non-conductive supports suspend the inner pipe in the outer pipe. Multi-layered insulation wrap around the inner carrier pipe, blocking radiative heat transfer.

 

 Furthermore, external and internal extension joints are employed to compensate for a thermal contraction in the inner pipe, depending on the system design pressure. Further, the Vacuum Insulated Pipe market is segmented by Product, Application, and geography. On the basis of Product, the Vacuum Insulated Pipe market is segmented under Standard and Customized.  Based on the Application, the Vacuum Insulated Pipe market is segmented under Cryogenic liquid, Food & Beverage, Aerospace, Electronic Manufacturing & Testing, and others. By geography, the market covers the following Regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Million).

 

 

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Vacuum Insulated Pipe Market Dynamics:

The vacuum insulated pipe market share will be driven by ongoing investments in the aerospace industry, as well as increased LNG trading. Accelerating spending on natural gas infrastructure as a result of an increase in gas-based generating capacity increases has also created advantageous business opportunities. Furthermore, rising demand for packaged and frozen food goods, as well as strong growth in the chemical industry, particularly in emerging economies, will have a positive impact on the business landscape.

 

Market Opportunity- Investments in the food and beverage, aerospace, and semiconductor industries

 

Continuous investments in the food and beverage, aerospace, and semiconductor industries have produced a favorable business environment for specialized vacuum insulated pipes. The products are widely employed in the aerospace, semiconductor, and food and beverage industries, presenting significant opportunities for vacuum insulated pipe penetration. These pipes are specially designed to suit the needs of each individual customer and are used to control the flow of cryogenic liquid at the end-user location.

 

Furthermore, various regions, especially North America and Europe, are experiencing considerable growth as a result of growing manufacturing bases and rising LNG consumption. Furthermore, rising oxygen use in the health sector, as well as rising demand for packaged foods, meat, and dairy products, would boost industrial production.

 

The vacuum insulated pipe market is expected to grow significantly as a result of an increase in partnerships and acquisitions. Across sectors, demand for vacuum insulated pipes is increasing at a rapid rate. Large corporations are placing a strong emphasis on the adoption of such technology in order to efficiently transport and store cryogenic liquids. Market participants are either collaborating with well-established and industry-recognized vacuum insulated pipe manufacturers or conducting acquisition activities in order to help buyers. Companies are able to adapt better technology for safely transferring cryogenic liquids with a more cost-effective approach due to partnerships and acquisitions.

 

Covid-19 Impact

The COVID-19 pandemic had an impact on the vacuum-insulated pipe market, causing a slowdown in growth. Factory closures travel bans, trade prohibitions, and border closings imposed to fight and contain the outbreak have had an impact on the manufacturing, supply, and sales of industrial equipment necessary to make vacuum insulated pipe. To prevent the diseases from spreading, industries were forced to close down as a result of the lockdown. Industries' demand for vacuum insulated pipes decreased as a result. Food and beverage, medical, energy and electricity, electronics and semiconductors, petroleum, and chemicals are among the primary industries affected by the pandemic.

 

The main issues with ethanol pipeline transport are its corrosive nature and tendency to absorb water and impurities in pipelines, which are not issues with oil or natural gas. Other factors preventing the construction of ethanol pipelines include insufficient quantities and cost-effectiveness.

 

Vacuum Insulated Pipe Market Segment Analysis:

By Product, the vacuum insulated pipe market is divided into two categories based on product: standard and customized. In 2023, the standard segment dominated the market. Standard pipes are referred to as conventional insulated pipes, and they account for the majority of the market. Steel pipes are bonded along with a vacuum between the inner and outer pipes. The vacuum insulated pipes come in a variety of sizes, ranging from 0.5 inches to more than 5 inches in diameter.

 

Furthermore, the frequent usage of conventional vacuum insulated pipes for transferring large volumes of cryogenic liquids such as LNG, hydrogen, nitrogen, and others are driving their adoption. Furthermore, the rising number of SMEs in emerging economies across APAC, as well as the ease of transportation and lower cost of standard pipes compared to customized standard vacuum insulated pipes, are among the factors driving the standard vacuum insulated pipe segment's growth.

 

 

By Application,  Cryogenic, food and beverage, aerospace, electronic manufacturing and testing, and other industries are represented in the market basis of application. The adoption of natural gas has increased as a result of government regulations and mandates for environmental protection the switch towards a gas-based economy as a result of the industry's preference for gas power plants, which has induced demand for the product and the combination of supportive policies for clean fuel and competitive gas prices, which has resulted in the growth and development of the product.

 

Vacuum Insulated Pipe Market Regional Insights:

The Asia Pacific vacuum insulated pipe market is expected to grow due to an increase in investments in generation capacity growth and the increasing LNG trade. The development of urban areas, the shift to gas-based power stations, and the robust growth of the manufacturing industry characterize the region. Product adoption will be influenced positively by the dynamic growth of sectors such as chemicals, packaged foods, and semiconductors, as well as rapid infrastructural growth. Furthermore, the rapid growth of the aerospace industry, particularly in China, Japan, India, and South Korea, has supported the rise of the space industry, which has fueled product adoption.

 

Various industry leaders have transferred their manufacturing bases and R&D centres to developing countries in recent years, owing to reduced labor costs, favorable regulatory laws, and lower production costs. Furthermore, the industry's growth will be aided by complicated and shifting government laws relating to the adoption of sustainable systems.

 

Vacuum Insulated Pipe Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Global Vacuum Insulated Pipe market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Vacuum Insulated Pipe market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Global Vacuum Insulated Pipe Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Vacuum Insulated Pipe market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Vacuum Insulated Pipe market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Global Vacuum Insulated Pipe market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Global Vacuum Insulated Pipe market. The report also analyses if the Global Vacuum Insulated Pipe market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Vacuum Insulated Pipe market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Vacuum Insulated Pipe market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Vacuum Insulated Pipe market is aided by legal factors.

 

Vacuum Insulated Pipe Market Scope:

Vacuum Insulated Pipe Market
Market Size in 2023	USD 1115.13Mn.
Market Size in 2030	USD 1622.16 Mn.
CAGR (2024-2030)	5.5%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Product Standard Customized
	By Application Cryogenic Food & Beverage Aerospace Electronic Manufacturing & Testing Other
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Vacuum Insulated Pipe Market Key Players: 

• Acme Cryogenics Inc (US)
• Chart Industries Inc (India)
• Concept Group LLC (India)
• Cryo Anlagenbau GmbH (Germany)
• Cryogenic Specialty Manufacturing (Malaysia)
• Demaco Holland BV (Netherlands)
• Senior Flexonics Inc (USA)
• SPS Cryogenics B.V. (Netherland)
• Cryofab (US)
• PAO TMK (Russia)
• PHPK Technologies (US)
• Thames Cryogenics Ltd (UK)