Europe Vacuum Insulated Pipe Market worth $450 million by 2028, Says GMI
Europe Vacuum Insulated Pipe Industry is poised to register 6% CAGR between 2022 and 2028 supported by growing demand for natural gas for various applications across energy intensive industries.
Selbyville, Delaware, Jan. 26, 2022 (GLOBE NEWSWIRE) —
The Europe vacuum insulated pipe market value is poised to exceed USD 450 Million by 2028, as reported in the latest study by Global Market Insights Inc. Increasing investments toward the expansion of manufacturing facilities along with favorable regulatory framework across Europe will propel the industry growth.
Europe vacuum insulated pipe industry from standard pipes is set to witness a substantial growth on account of its diversified application across industries for smoothly transferring cryogenic liquids including nitrogen, LNG, hydrogen and others. Ease of transportation and low cost are amongst the key factors which will drive the demand for these units over the forecast period.
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Ongoing advancements in space technologies along with increasing capital spending in the aerospace industry will fuel the Europe vacuum insulated pipe market statistics over the forecast period. For instance, the research & development investment (RDI) expenditure in the aeronautic industry accounted for over 10% of the overall turnover in 2020. Additionally, favorable governmental schemes and programmes toward the development of aeronautic industry in the region will further boost the requirement of the vacuum insulated pipes over the forecast timeframe.
Some key findings of the Europe vacuum insulated pipe market report include:
- Rising investments in industrial sector in line with growing demand for manufacturing of electronic goods will foster the product spectrum.
- Ongoing efforts to reduce the GHG emissions across the industries will augment the industry outlook.
- Upsurge in demand for natural gas over other fossil fuels on account of fewer emissions will drive the product deployment across the natural gas industries.
- Major players operating across the Europe vacuum insulated pipe industry include Chart Industries, Cryofab, BRUGG GROUP AG, TMK, Cryoworld, Kelvin Technology and PraxEidos Srl amongst others.
- Positive outlook toward healthcare and food & beverage industry will further proliferate the demand for vacuum insulated pipes in Europe.
Browse key industry insights spread across 150 pages with 139 market data tables & 34 figures & charts from the report, “Europe Vacuum Insulated Pipe Market By Product (Standard, Customized), Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing, Healthcare), Industry Analysis Report, Country, Application Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/europe-vacuum-insulated-pipe-market
France vacuum insulated pipe market is set to record around 6.5% CAGR through 2028 on account of the urban development initiatives undertaken by the French government. Ongoing shift from use of conventional sources for power generation to adoption of efficient and sustainable sources including natural gas has fuelled a rise in demand for the product.
COVID-19 outbreak marginally impacted the regional industry scenario. The adaptation of the key market players to the changing industry conditions will support in limiting the disruptions caused by the spread. However, growing demand for cryogenic tanks and vacuum insulated pipes for effective handling of cryogenic liquids will drive the Europe vacuum insulated pipe market growth over the assessment period positively.
The pandemic has hit various businesses in an unprecedented manner, leading to closures of major industries including oil & gas, electronic manufacturing, and others. In addition, the demand for liquid gases has been subdued on account of slowdown of transportation & logistical operations. However, the ongoing vaccination drive by various countries in the region have produced favorable results since the second half of FY 2020, thereby creating a positive momentum for the Europe vacuum insulated pipes market expansion in the forthcoming years.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/europe-vacuum-insulated-pipe-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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