According to the recent research report titled ‘Vacuum Insulated Pipe Market Size By Product (Standard, Customized), By Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, global vacuum insulated pipe market is expected to record considerable growth over 2020-2026, witnessing an annual installation of over 5,000 km by the end of the forecast period.
 

Surging demand for natural gas, in consort with flourishing chemical, healthcare, and food processing sectors are propelling global vacuum insulated pipe market growth.
 

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Inclination toward gas-based power plants as well as increased use of natural gas in the heating and transportation applications are boosting the product demand. Moreover, benefit of reduced heat loss has pushed the installation of these pipes in petrochemical, frozen food, and electronic manufacturing industries, further adding to the market development.
 

Supportive government initiatives to offer health services to all citizens, along with growing investments by both private and public enterprises will help the industry thrive. Cryogenic liquids, which contain nitrogen and oxygen, are commonly used to preserve human organs and blood, as well as to supply oxygen to patients, thus boosting demand for vacuum insulated pipes.
 

Considering obstacles, safety concerns related to cryogenic liquid is anticipated to act as major challenge for businesses operating in the domain.
 

Based on application spectrum, worldwide vacuum insulated pipe industry share from food & beverage segment is poised to grow considerably over 2020-2026, due to rising disposable income of consumers and flourishing food packaging sector.
 

Besides, ongoing efforts to expand Tier II and III cities across emerging countries, as well as increased inter-regional trade operations will foster the product demand.
 

Regionally, North America market is expected to record 5% CAGR through 2026, owing to growing LNG trade and development of manufacturing sector. These pipes offer advantages such as low heat losses, longer service life, reduced maintenance costs, and ease of expansion as compared to other available options. Rising investments in development of aerospace sector, such as space shuttles, light combat aircraft, passenger planes, and other military programs will drive the regional industry expansion.
 

Major contenders impacting global vacuum insulated pipe market trends are Air Liquide S.A., Cryo Anlagenbau GmbH, Majus Ltd., SPS Cryogenics B.V., Thames Cryogenics Ltd., Kelvin Technology Inc., Vacuum Barrier Corporation, Cryoworld B.V., TMK Group, Demaco Holland B.V., Cryofab Inc., Brugg Group AG, and Chart Industries Inc.