Selbyville, Del., Jan. 26, 2022 (GLOBE NEWSWIRE) —
The vacuum insulated pipe Europe market value is poised to top $450 million by 2028 as reported in the latest study by Global Market Insights Inc. Increasing investment in expanding manufacturing facilities along with a supportive regulatory framework across the ‘Europe will propel the growth of the industry.
The European industry of evacuated insulated tubes from standard tubes is expected to experience substantial growth owing to its diverse application across all sectors for the smooth transfer of cryogenic liquids including nitrogen, LNG, hydrogen and others. Ease of transportation and low cost are among the key factors that will drive the demand for these units during the forecast period.
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Continuous advancements in space technologies along with increasing capital expenditure in the aerospace industry will fuel the European vacuum insulated tubes market statistics over the forecast period. For example, research and development (RDI) capital expenditure in the aerospace industry accounted for more than 10% of overall revenue in 2020. vacuum insulated piping over the forecast horizon.
Some key findings of the Europe Vacuum Insulated Tubes Market report include:
- Rising investment in the industrial sector, along with growing demand for electronics manufacturing, will support the product mix.
- Ongoing efforts to reduce GHG emissions across all industries will increase industry prospects.
- The increase in demand for natural gas compared to other fossil fuels due to reduced emissions will drive the deployment of products in the natural gas industries.
- Major players operating in the European evacuated insulated tubing industry include Chart Industries, Cryofab, BRUGG GROUP AG, TMK, Cryoworld, Kelvin Technology, and PraxEidos Srl, among others.
- The positive outlook for the healthcare and food and beverage industry will further proliferate the demand for vacuum insulated pipes in Europe.
Browse key industry information spread over 150 pages with 139 market data tables and 34 report figures and graphs, “Europe Vacuum Insulated Pipe Market by Product (Standard, Custom), Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing, Healthcare), Industry Analysis Report, Country, Business Potential application, competitive market share and forecast, 2022-2028in detail with the table of contents:
The French vacuum insulated pipe market is expected to register a CAGR of around 6.5% through 2028 owing to the urban development initiatives undertaken by the French government. The continued shift from using conventional sources for power generation to adopting efficient and sustainable sources, including natural gas, has fueled an increase in demand for the product.
The COVID-19 outbreak has had a marginal impact on the regional industry scenario. Adapting major market players to changing industry conditions will help limit the disruption caused by the spread. However, the growing demand for cryogenic tanks and vacuum insulated pipes for efficient handling of cryogenic liquids will positively drive the growth of the European vacuum insulated pipes market over the assessment period.
The pandemic has hit various businesses in an unprecedented way, shutting down major industries including oil and gas, electronics manufacturing and others. In addition, demand for liquid gases was subdued due to the slowdown in transportation and logistics operations. However, the ongoing vaccination campaign by various countries in the region has produced favorable results since the second half of fiscal 2020, thus creating a positive momentum for the expansion of the European vacuum insulated pipes market in the years to come. to come.
Browse the table of contents of this report @ https://www.gminsights.com/toc/detail/europe-vacuum-insulated-pipe-market
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Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as consulting services. growth. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.