North America Vacuum Insulated Pipe Market Key Players and Opportunities by 2028
North America Vacuum Insulated Pipe Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Standard and Customized) and Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing, and Others)
Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028- Report Date : Mar 2022
- Report Code : TIPRE00027748
- Category : Manufacturing and Construction
- Status : Published
- Available Report Formats :
- No. of Pages : 89
The vacuum insulated pipe market in North America is expected to grow from US$ 223.18 million in 2021 to US$ 306.24 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028.
Several government authorities across region are supporting and imposing the clean fuel policies, which are being implemented in the respective regions. For instance, in March 2021, New Mexico’s state Senate approved a bill to introduce a clean fuel standard, which is likely to help them meet their carbon reduction goals. Such initiatives focus on limiting the use of conventional fuels in transportation. As a result, natural gas is expected emerge rapidly as an alternative fuel, and it would be the second-largest contributor to the energy mix, accounting for 25% by 2045. Therefore, surge in government initiatives to adopt clean fuel policies are bolstering the demand for LNG, subsequently boosting the adoption of vacuum insulated pipes in oil and gas plants.The US is the worst-hit country in North America due to the outbreak of COVID-19, with thousands of infected individuals facing severe health conditions across the country. Increasing number of infected individuals has led the government to impose lockdown across the nation’s borders during Q2. The majority of the manufacturing plants were either temporarily shut or are operating with minimum staff; the supply chain of components and parts is disrupted; these are some of the critical issues faced by the North American manufacturers. The US is one of the largest markets for vacuum insulated pipe especially in medical, aerospace, food & beverages, and energy, owing to stringent government/industry regulations regarding safety and quality standards. However, the outbreak has severely affected the production and revenue generation with the lower number of manufacturing staff.With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the vacuum insulated pipe market. The North America vacuum insulated pipe market is expected to grow at a good CAGR during the forecast period.
North America Vacuum Insulated Pipe Market Revenue and Forecast to 2028 (US$ Million)
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North America Vacuum Insulated Pipe Market Segmentation
North America Vacuum Insulated Pipe Market – By Product
- Standard
- Customized
North America Vacuum Insulated Pipe Market – By Application
- Cryogenic
- Aerospace
- Electronic Manufacturing and Testing
- Food and Beverage
- Others
North America Vacuum Insulated Pipe Market- By Country
- US
- Canada
- Mexico
North America Vacuum Insulated Pipe Market-Companies Mentioned
- Acme Cryogenics
- Air Liquide SA
- Chart Industries Inc.
- Cryeng Group Pty Ltd.
- Cryofab
- Cryowork, Inc.
- Senior Flexonics
- TMK
North America Vacuum Insulated Pipe Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 223.18 Million |
| Market Size by 2028 | US$ 306.24 Million |
| CAGR (2021 - 2028) | 4.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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