[Research Report] The vacuum insulated tubing market size is expected to grow from US$ 35.71 million in 2022 to US$ 61.38 million by 2030; it is estimated to record a CAGR of 7.3% from 2022 to 2030.
Analyst Perspective:
Based on country, the North America vacuum insulated tubing market is segmented into the US, Canada, and Mexico. North America is one of the leading oil-producing regions across the world. The US and Canada are major oil producers, with significant reserves and advanced extraction techniques such as hydraulic fracturing (fracking) and horizontal drilling. According to Energy Information Administration (EIA) report, ~100 countries across the globe produce crude oil; of these 100 countries, the top five countries contribute to the 51% share of overall crude oil production in 2021. The US and Canada contribute 14.5% and 5.8% of total global crude oil production, respectively. The US has recently experienced a surge in oil production, becoming a leading global producer which propels the vacuum insulated tubing market growth across the region due to growing demand for enhanced oil recovery.
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Vacuum Insulated Tubing Market: Strategic Insights
Market Size Value in US$ 35.71 million in 2022 Market Size Value by US$ 61.38 million by 2030 Growth rate CAGR of 7.3% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Vacuum Insulated Tubing Market: Strategic Insights
| Market Size Value in | US$ 35.71 million in 2022 |
| Market Size Value by | US$ 61.38 million by 2030 |
| Growth rate | CAGR of 7.3% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on Vacuum Insulated Tubing Market Growth:
Material sourcing and operations of raw material suppliers were hindered due to the COVID-19 pandemic. The raw material suppliers faced several challenges related to remote operations, transportation services, and internal production operations that were largely interrupted due to a lack of manpower and other resources during the pandemic. All these factors increased the demand and supply gap between raw material suppliers and vacuum insulated tubing manufacturers across the world in 2020. Further, the vacuum insulated tubing market reported a gradual revival from supply chain disruptions in Q2 of 2020 as vacuum insulated tubing manufacturers started adopting new normal scenarios of manufacturing.
Vacuum Insulated Tubing Market Driver: Maximize Oil Reserves Recovery and Extend Field Life:
Owing to the higher exploitation of existing wells, several key oil and gas producers such as ExxonMobil, Shell plc, Chevron Corporation, PetroChina, and Saudi Aramco are focusing on maximizing the recovery factor (RF) from their existing oilfields and maintaining an economical oil rate. By implementing EOR methods, operators can revitalize reservoirs and extract additional oil, extending the field's productive life and maximizing the value of existing assets. Steam flooding EOR method technique helps improve oil displacement, reduce residual oil saturation, and enhance sweep efficiency within the reservoir. Thus, the rising need to maximize oil reserve recovery bolsters the vacuum insulation tubing market growth.
Segmental Analysis:
The offshore segment of the vacuum insulated tubing market involves the utilization of vacuum insulated tubing in oil and gas production wells located in marine environments. The segment consists of various offshore well types such as fixed platforms, floating production systems, and subsea wells. In offshore wells, vacuum insulated tubing can help to mitigate the production problem caused by the heat transfer from the produced reservoir fluids into the surrounding formation and casing annulus. Vacuum insulated tubing can effectively address issues such as hydrate plugging, paraffin deposition, annular pressure build-up in the outer casing string, and harsh environmental conditions, including saltwater corrosion, extreme temperatures, and high pressures. Increasing exploration and production activities in offshore reserves fuel the vacuum insulated tubing market size for the offshore segment. The rising number of oil and gas rigs in the US indicates growing drilling activities and potential future production. Thus, there will be a high demand for energy resources that may lead to increased offshore production and the need for vacuum insulated tubing to address heat transfer in deepwater operations. Vacuum insulated tubing enables efficient production in offshore wells by minimizing heat loss and maintaining the desired temperature of the produced fluids. The insulation properties of vacuum insulated tubing help optimize the performance of offshore production systems, enhancing production rates and overall operational efficiency.
Regional Analysis:
North America dominated the vacuum insulated tubing market in 2022 with a share of 51.3%; it would continue to dominate the market during the forecast period and account for 54.6% share by 2030. The Middle East & Africa is the second-largest contributor to the global vacuum insulated tubing market, followed by Asia Pacific.
In the Middle East & Africa (MEA), the UAE, Saudi Arabia, Iran, Oman, and Kuwait are among the key countries affected by the COVID-19 pandemic. Most economic operations in the region were suspended due to an increase in the number of COVID-19 cases in the first two quarters of 2020. Many countries in Africa are still in the developing phase. Countries in the Middle East, especially the Gulf Cooperation Council (GCC) countries, witnessed a notable decline in the oil & gas sector due to a sharp drop in oil demand from major end-user countries across Asia, Europe, and North America. As a result, countries in the MEA registered a low volume of oil and gas production, which subsequently hampered the demand for vacuum insulated tubing in the region.
Key Player Analysis:
The vacuum insulated tubing market analysis consists of the players such as Andmir Group, Exceed Oilfield Equipment Inc, Imex Canada Inc, ITP Interpipe, Lake Petro, Dongying Lake Petroleum Technology CO Ltd, Nakasawa, Shengji Group, Tenergy Equipment & Service Ltd, TMK Group, and Vallourec are among the players in the vacuum insulated tubing market TMK and Sankjack are the top two players owing to the diversified product portfolio offered.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by the vacuum insulated tubing market players operating in the market. A few recent key vacuum insulated tubing market developments are listed below:
- In March 2022, ADNOC Onshore, which operates onshore and in shallow coastal waters of the Emirate of Abu Dhabi, announced a US$ 227 million contract for enhanced oil recovery (EOR) at Bab Field. The company used advanced polymers to boost recoverable reserves up to 70% while unlocking additional barrels of Murban crude.
- In April 2023, BP commenced oil production at its Argos platform located in the Gulf of Mexico. The Argos platform is a deepwater facility spread ∼200 miles south of New Orleans, Louisiana. The platform is designed with LoSal Enhanced Oil Recovery (EOR) and Dynamic Digital Twin technologies to extract oil from the Mad Dog 2 field, a large, high-quality oil reservoir located in southern Green Canyon area.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, India, Indonesia, Iran, Italy, Malaysia, Mexico, Norway, Russia, Saudi Arabia, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The North American vacuum insulated tubing market was dominated by the onshore segment, which accounted for 74.4% of the market share in 2022 and is estimated to reach 72.6% of market revenue by 2030.
The oil & gas industry is witnessing a growing adoption of efficient oil extraction techniques, which is expected to support the growth of the vacuum insulated tube market in the coming years.
Owing to the higher exploitation of existing wells, several key oil and gas producers such as ExxonMobil, Shell plc, Chevron Corporation, PetroChina, and Saudi Aramco are focusing on maximizing the recovery factor (RF) from their existing oilfields and maintaining an economical oil rate.
North America is anticipated to grow with the highest CAGR over the forecast period.
The countries anticipated to grow with the highest CAGR are US, Russia, and China.
The key players holding majority shares in Vacuum Insulated Tubing Market include TMK Group, Vallourec SA, ConocoPhillips Company, Sanjack Petro, and Shengji Group.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Vacuum Insulated Tubing Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 MEA
4.2.4 SAM
4.3 Ecosystem Analysis
4.4 Premium Insights
4.4.1 Major VIT End Users by Country
4.5 Expert Opinion
5. Vacuum Insulated Tubing Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 High Crude Oil Prices
5.1.2 Maximize Oil Reserves Recovery and Extend Field Life
5.2 Market Restraint
5.2.1 High Cost of Implementation of EOR and Transition Toward Clean Energy
5.3 Market Opportunities
5.3.1 Improved Oil Recovery to Reduce Oil Imports
5.4 Market Trends
5.4.1 Growing Adoption of Efficient Oil Extraction Technique
5.5 Impact Analysis of Drivers and Restraints
6. Vacuum Insulated Tubing Market– Global Market Analysis
6.1 Vacuum Insulated Tubing Market Global Overview
6.2 Global Vacuum Insulated Tubing Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. Vacuum Insulated Tubing Market Revenue and Forecast to 2030 – Application
7.1 Overview
7.2 Vacuum Insulated Tubing Market, By Application (2022 and 2030)
7.3 Onshore
7.3.1 Overview
7.3.2 Onshore: Vacuum Insulated Tubing Market Revenue and Forecast To 2030 (US$ ‘000)
7.4 Offshore
7.4.1 Overview
7.4.2 Offshore: Vacuum Insulated Tubing Market Revenue and Forecast To 2030 (US$ ‘000)
8. Vacuum Insulated Tubing Market– Geographic Analysis
8.1 Overview
8.2 North America: Vacuum Insulated Tubing Market
8.2.1 North America: Vacuum Insulated Tubing Market – Revenue, and Forecast to 2030 (US$ ‘000)
8.2.2 North America: Vacuum Insulated Tubing Market, By Application
8.2.3 North America: Vacuum Insulated Tubing Market, by Key Country
8.2.3.1 US: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.2.3.1.1 US: Vacuum Insulated Tubing Market, By Application
8.2.3.2 Canada: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.2.3.2.1 Canada: Vacuum Insulated Tubing Market, By Application
8.2.3.3 Mexico: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.2.3.3.1 Mexico: Vacuum Insulated Tubing Market, By Application
8.3 Europe: Vacuum Insulated Tubing Market
8.3.1 Europe: Vacuum Insulated Tubing Market – Revenue, and Forecast to 2030 (US$ ‘000)
8.3.2 Europe: Vacuum Insulated Tubing Market, By Application
8.3.3 Europe: Vacuum Insulated Tubing Market, by Key Country
8.3.3.1 Italy: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.3.3.1.1 Italy: Vacuum Insulated Tubing Market, By Application
8.3.3.2 UK: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.3.3.2.1 UK: Vacuum Insulated Tubing Market, By Application
8.3.3.3 Russia: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.3.3.3.1 Russia: Vacuum Insulated Tubing Market, By Application
8.3.3.4 Norway: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.3.3.4.1 Norway: Vacuum Insulated Tubing Market, By Application
8.3.3.5 Rest of Europe: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.3.3.5.1 Rest of Europe: Vacuum Insulated Tubing Market, By Application
8.4 Asia Pacific: Vacuum Insulated Tubing Market
8.4.1 Asia Pacific: Vacuum Insulated Tubing Market – Revenue, and Forecast to 2030 (US$ ‘000)
8.4.2 Asia Pacific: Vacuum Insulated Tubing Market, By Application
8.4.3 Asia Pacific: Vacuum Insulated Tubing Market, by Key Country
8.4.3.1 Australia: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.4.3.1.1 Australia: Vacuum Insulated Tubing Market, By Application
8.4.3.2 China: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.4.3.2.1 China: Vacuum Insulated Tubing Market, By Application
8.4.3.3 India: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.4.3.3.1 India: Vacuum Insulated Tubing Market, By Application
8.4.3.4 Indonesia: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.4.3.4.1 Indonesia: Vacuum Insulated Tubing Market, By Application
8.4.3.5 Malaysia: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.4.3.5.1 Malaysia: Vacuum Insulated Tubing Market, By Application
8.4.3.6 Rest of Asia Pacific: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.4.3.6.1 Rest of Asia Pacific: Vacuum Insulated Tubing Market, By Application
8.5 Middle East & Africa: Vacuum Insulated Tubing Market
8.5.1 Middle East & Africa: Vacuum Insulated Tubing Market – Revenue, and Forecast to 2030 (US$ ‘000)
8.5.2 Middle East & Africa: Vacuum Insulated Tubing Market, By Application
8.5.3 Middle East & Africa: Vacuum Insulated Tubing Market, by Key Country
8.5.3.1 Saudi Arabia: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.5.3.1.1 Saudi Arabia: Vacuum Insulated Tubing Market, By Application
8.5.3.2 UAE: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.5.3.2.1 UAE: Vacuum Insulated Tubing Market, By Application
8.5.3.3 Iran: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.5.3.3.1 Iran: Vacuum Insulated Tubing Market, By Application
8.5.3.4 Rest of Middle East & Africa: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.5.3.4.1 Rest of Middle East & Africa: Vacuum Insulated Tubing Market, By Application
8.6 South America: Vacuum Insulated Tubing Market
8.6.1 South America: Vacuum Insulated Tubing Market – Revenue, and Forecast to 2030 (US$ ‘000)
8.6.2 South America: Vacuum Insulated Tubing Market, By Application
8.6.3 South America: Vacuum Insulated Tubing Market, by Key Country
8.6.3.1 Brazil: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.6.3.1.1 Brazil: Vacuum Insulated Tubing Market, By Application
8.6.3.2 Argentina: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.6.3.2.1 Argentina: Vacuum Insulated Tubing Market, By Application
8.6.3.3 Rest of SAM: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
8.6.3.3.1 Rest of SAM: Vacuum Insulated Tubing Market, By Application
9. Impact of COVID-19 Pandemic on Vacuum Insulated Tubing Market
9.1 Overview
9.2 North America: Impact Assessment of COVID-19 Pandemic
9.3 Europe: Impact Assessment of COVID-19 Pandemic
9.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic
9.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
9.6 South America: Impact Assessment of COVID-19 Pandemic
10. Company Profiles
10.1 Andmir Group
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Exceed Oilfield Equipment Inc
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 Imex Canada Inc
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 ITP Interpipe
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Dongying Lake Petroleum Technology Co Ltd
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 Nakasawa Resources
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 Shengji Group
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 Tenergy Equipment and Service Ltd
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 TMK Group
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Products and Services
10.9.4 Financial Overview
10.9.5 SWOT Analysis
10.9.6 Key Developments
10.10 Vallourec SA
10.10.1 Key Facts
10.10.2 Business Description
10.10.3 Products and Services
10.10.4 Financial Overview
10.10.5 SWOT Analysis
10.10.6 Key Developments
11. Appendix
11.1 About The Insight Partners
11.2 Word Index
LIST OF TABLES
Table 1. Global Vacuum Insulated Tubing Market, Revenue and Forecast, 2020–2030 (US$ ‘000)
Table 2. North America: Vacuum Insulated Tubing Market, By Application– Revenue and Forecast to 2030 (US$ ‘000)
Table 3. US: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 4. Canada: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 5. Mexico: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 6. Europe: Vacuum Insulated Tubing Market, By Application– Revenue and Forecast to 2030 (US$ ‘000)
Table 7. Italy: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 8. UK: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 9. Russia: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 10. Norway: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 11. Rest of Europe: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 12. Asia Pacific: Vacuum Insulated Tubing Market, By Application– Revenue and Forecast to 2030 (US$ ‘000)
Table 13. Australia: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 14. China: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 15. India: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 16. Indonesia: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 17. Malaysia: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 18. Rest of Asia Pacific: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 19. Middle East & Africa: Vacuum Insulated Tubing Market, By Application– Revenue and Forecast to 2030 (US$ ‘000)
Table 20. Saudi Arabia: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 21. UAE: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 22. Iran: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 23. Rest of Middle East & Africa: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 24. South America: Vacuum Insulated Tubing Market, By Application– Revenue and Forecast to 2030 (US$ ‘000)
Table 25. Brazil: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 26. Argentina: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 27. Rest of SAM: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 28. List of Abbreviation
LIST OF FIGURES
Figure 1. Vacuum Insulated Tubing Market Segmentation
Figure 2. Vacuum Insulated Tubing Market Segmentation – Geography
Figure 3. Vacuum Insulated Tubing Market Overview
Figure 4. Vacuum Insulated Tubing Market, By Application
Figure 5. Vacuum Insulated Tubing Market, By Geography
Figure 6. North America: PEST Analysis
Figure 7. Europe: PEST Analysis
Figure 8. APAC: PEST Analysis
Figure 9. MEA: PEST Analysis
Figure 10. SAM: PEST Analysis
Figure 11. Vacuum Insulated Tubing Market Ecosystem Analysis
Figure 12. Expert Opinion
Figure 13. Vacuum Insulated Tubing Market: Impact Analysis of Drivers and Restraints
Figure 14. Geographic Overview of Vacuum Insulated Tubing Market
Figure 15. Global Vacuum Insulated Tubing Market, Forecast and Analysis (US$ ‘000)
Figure 16. Market Positioning- Top Five Players
Figure 17. Vacuum Insulated Tubing Market, By Application (2022 and 2030)
Figure 18. Onshore: Vacuum Insulated Tubing Market Revenue and Forecast to 2030 (US$ ‘000)
Figure 19. Offshore: Vacuum Insulated Tubing Market Revenue and Forecast to 2030 (US$ ‘000)
Figure 20. Global Vacuum Insulated Tubing Market Revenue Share, By Region (2022)
Figure 22. North America: Vacuum Insulated Tubing Market – Revenue and Forecast to 2030 (US$ ‘000)
Figure 23. North America: Vacuum Insulated Tubing Revenue Share, By Application (2022 and 2030)
Figure 24. North America: Vacuum Insulated Tubing Revenue Share, by Key Country (2022 and 2030)
Figure 25. US: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 26. Canada: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 27. Mexico: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 28. Europe: Vacuum Insulated Tubing Market – Revenue and Forecast to 2030 (US$ ‘000)
Figure 29. Europe: Vacuum Insulated Tubing Revenue Share, By Application (2022 and 2030)
Figure 30. Europe: Vacuum Insulated Tubing Revenue Share, by Key Country (2022 and 2030)
Figure 31. Italy: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 32. UK: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 33. Russia: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 34. Norway: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 35. Rest of Europe: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 36. Asia Pacific: Vacuum Insulated Tubing Market – Revenue and Forecast to 2030 (US$ ‘000)
Figure 37. Asia Pacific: Vacuum Insulated Tubing Revenue Share, By Application (2022 and 2030)
Figure 38. Asia Pacific: Vacuum Insulated Tubing Revenue Share, by Key Country (2022 and 2030)
Figure 39. Australia: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 40. China: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 41. India: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 42. Indonesia: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 43. Malaysia: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 44. Rest of Asia Pacific: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 45. Middle East & Africa: Vacuum Insulated Tubing Market – Revenue and Forecast to 2030 (US$ ‘000)
Figure 46. Middle East & Africa: Vacuum Insulated Tubing Revenue Share, By Application (2022 and 2030)
Figure 47. Middle East & Africa: Vacuum Insulated Tubing Revenue Share, by Key Country (2022 and 2030)
Figure 48. Saudi Arabia: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 49. UAE: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 50. Iran: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 51. Rest of Middle East & Africa: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 52. South America: Vacuum Insulated Tubing Market – Revenue and Forecast to 2030 (US$ ‘000)
Figure 53. South America: Vacuum Insulated Tubing Revenue Share, By Application (2022 and 2030)
Figure 54. South America: Vacuum Insulated Tubing Revenue Share, by Key Country (2022 and 2030)
Figure 55. Brazil: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 56. Argentina: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 57. Rest of SAM: Vacuum Insulated Tubing Market– Revenue and Forecast to 2030 (US$ ‘000)
Figure 58. Impact of COVID-19 Pandemic on Markets in North American Countries
Figure 59. Impact of COVID-19 Pandemic on Europe Country Markets
Figure 60. Impact of COVID-19 Pandemic on APAC Country Markets
Figure 61. Impact of COVID-19 Pandemic on Middle East & Africa Country Markets
Figure 62. Impact of COVID-19 Pandemic on South America Country Markets
The List of Companies - Vacuum Insulated Tubing Market
- Andmir Group
- Exceed Oilfield Equipment Inc
- Imex Canada Inc
- ITP Interpipe
- Dongying Lake Petroleum Technology Co Ltd
- Nakasawa Resources
- Shengji Group
- Tenergy Equipment and Service Ltd
- TMK Group
- Vallourec SA
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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