Call 888-776-0942 from 8 a.m. to 10 p.m. Eastern Time
New York, November 9, 2021/PRNewswire/-Based on insight partners' research on "Vacuum Insulated Pipe Market by 2028-Global Analysis and Forecast-By Product and Application", global vacuum insulated pipe market valuation For USD 920.5 million in 2020, it is expected to reach USD 1.3863 million by 2028; the compound annual growth rate for the period 2021-2028 is expected to be 5.6%. The pace of discovery of new oil and gas reserves worldwide has accelerated. According to data from Resta Energy, in 2019, 12.2 billion barrels of oil equivalent were discovered globally. In the same year, there were 26 discoveries with an oil equivalent of more than 100 barrels, and new oil and gas reservoirs were enriched in offshore areas. Saudi Aramco discovered two oil and gas fields in northern Saudi Arabia in August 2020. In September 2020, Equinor announced the discovery of a new oil and gas field in the Swisher exploration area. The company also announced the discovery of two oil fields in the Flemish Pass Basin offshore Newfoundland, Canada. In addition, in October 2020, Total and its partners announced the evaluation of several development options to commercialize new natural gas and condensate discoveries in South Africa. In the same month, Gazprom announced the discovery of a new natural gas deposit in the Leningradskoye oil field, the Yamal Shelf. Therefore, with the continuous discovery of new offshore oil and gas reserves, it is expected to promote the construction of new factories, thereby driving the demand for new vacuum insulated tubes for cross-border transmission in the next few years.
Get an exclusive sample page for the vacuum insulated tube market at https://www.theinsightpartners.com/sample/TIPRE00009583/
Number of charts
North America; Europe; Asia Pacific; Latin America; Multilateral Environmental Agreements
United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecasts, company rankings, competitive landscape, growth factors and trends
At present, the global market is mainly dominated by developed regions such as Asia-Pacific and Europe, which together account for about 60% of the global market. The increasing demand for cost-effective oil and gas transportation methods is one of the main factors that are expected to drive the demand for vacuum insulated pipes in the overseas oil and gas industries in these two regions. Most countries in the world need a lot of energy (oil and gas) consumption, and the oil and gas output of these countries is negligible, such as Germany and France. Related to this is that there are more and more offshore oil and gas projects going on in these areas, such as Rosebank & Lochnagar oil and gas fields, Mariner heavy oil fields and Culzean HPHT natural gas and condensate oil fields. It is expected to create huge opportunities for the vacuum insulated tube market during the forecast period. In addition, the Asia-Pacific region is expected to become the fastest growing region during the forecast period. During the forecast period from 2020 to 2027, the growth prospects of vacuum insulated tubes in all major geographic regions are estimated to be quite optimistic. However, due to the continued outbreak of COVID-19, all major countries in Europe, Asia Pacific, and North America have imposed strict restrictions on commercial activities and the movement of goods and people. These factors are expected to affect the supply and demand of pipelines, thereby affecting the revenue growth of participants in the global vacuum insulated pipeline market to a certain extent, especially in 2020 and early 2021.
Download the latest COVID-19 analysis on the growth research report of the vacuum insulated pipe market at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00009583/
According to the latest situation report from the World Health Organization (WHO), the United States, Spain, Italy, France, Germany, the United Kingdom, Russia, Turkey, Brazil, Iran and China are some of the countries most affected by COVID-19 outbreaks. The COVID-19 crisis is affecting all walks of life around the world, and the global economy is expected to be hit hardest in 2020 and 2021. The outbreak caused major damage to primary industries such as food and beverages, medical care, energy and electricity, and electronics. Semiconductors, petroleum, and chemicals. The above-mentioned significant decline in the growth of industrial activities is affecting the growth of the global vacuum insulated tube market. Factory shutdowns, travel bans, trade bans, and border blockades implemented to fight and contain the epidemic have affected the manufacturing, supply, and sales of industrial equipment required to manufacture vacuum insulated pipes.
Increasing oxygen consumption in the healthcare industry
Increasing oxygen consumption throughout the healthcare industry is driving the growth of the vacuum insulated tube market. According to news (The Times of India), India reports that it needs about 600 metric tons of medical oxygen per day, while it currently requires 375 metric tons per day. The huge gap between the supply and demand of oxygen in the healthcare sector may increase the production of oxygen, thereby triggering the need for vacuum insulated tubes to safely transport and store large amounts of oxygen in healthcare facilities.
Vacuum insulated tube market: overview of market segments
The vacuum insulated tube market is segmented according to products and applications. Depending on the product, the customized market segment is expected to show a higher compound annual growth rate during the forecast period. The increase in demand can be attributed to the increasing demand for customized vacuum insulation tubes in the oil and gas, energy, and healthcare industries due to the industry standard system. According to the application, the food and beverage sector is expected to occupy a dominant market share. With the development of the food packaging industry, the increase in per capita income of consumers has always been a key tool for the growth of the food and beverage industry. In addition, the increase in trade in packaged foods and frozen products also provides good market opportunities for this segment.
Vacuum insulated tube market: competitive landscape and key developments
TMK, Air Liquide, Chart Industries, Inc., Senior Flexonics, Acme Cryogenics, Cryeng Group Pty Ltd., Cryofab, Cryoworks, Inc., Demaco and Sps Cryogenics BV are the main participants in this market research. Market participants have been focusing on product development, partnerships, mergers and acquisitions, and collaboration strategies to maintain a competitive advantage.
Order a copy of the 2021-2028 vacuum insulated pipe market share, strategy and forecast research report on https://www.theinsightpartners.com/buy/TIPRE00009583/
Browse related reports and get sample copies
Pre-insulated Pipeline Market Forecast to 2028-Covid-19 Impact and Global Analysis-By Pipe Type (Flexible Pre-Insulated Pipe, Rigid Pre-Insulated Pipe); Layer (Conveying Pipe, Foam and Insulation Layer, Jacket); Used Materials (metals and alloys, others); media (steam, water, other); installation (underground pre-insulation pipes, above-ground pre-insulation pipes); terminal industries (district heating and cooling, oil and gas, infrastructure and utilities, other ) And geography-https://www.theinsightpartners.com/sample/TIPRE00004495/
Mineral insulated heating cable market forecast by 2027-Covid-19 impact and cable type (single core and double core), sheath type (copper, stainless steel, cupronickel, etc.), temperature range (below 200°C, 201–500° C, 501–700°C, 700°C and above), end users (energy and power, oil and gas, construction, pharmaceuticals, etc.) and geography-https://www.theinsightpartners.com/sample/TIPRE00003758/
Industrial seamless steel pipe market forecast to 2028-Covid-19 impact and global analysis-by diameter range (maximum 12 inches, 12 inches and above); process (hot working, cold rolling); pressure level (high, medium, low ); Applications (power generation, refining and petrochemicals, automobiles, processing plants, etc.) and geography-https://www.theinsightpartners.com/sample/TIPRE00007370/
Insulated Wire and Cable Market Forecast to 2028-COVID-19 Impact and Global Installation Analysis (Overhead, Underground, Submarine); Materials (Optical Fiber, Plastic, Metal); Voltage (High Voltage, Medium Voltage, Low Voltage); End User (Electronics) , Telecommunications, automotive, energy and power, others) and geography-https://www.theinsightpartners.com/sample/TIPRE00019859/
Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients obtain solutions that meet their research needs through our joint and consulting research services. We focus on industries such as semiconductors and electronics, aerospace and defense, automotive and transportation, biotechnology, healthcare IT, manufacturing and construction, medical equipment, technology, media and telecommunications, chemicals and materials.
If you have any questions about this report or want more information, please contact us:
Contact: Sameer Joshi Email: [Email protected] Phone: 1-646-491-9876 Press release: https://www.theinsightpartners.com/pr/vacuum-insulated-pipe-market More research: https : //Www.openpr.com/news/archive/139407/The-Insight-Partners.html
More news releases on similar topics
Cision Distribution 888-776-0942 8 a.m. to 9 p.m. Eastern Time