Cryogenic Segment to Dominate MEA Vacuum Insulated Pipe Market during 2021–2028

According to a new market research study on “MEA Vacuum Insulated Pipe Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product and Application” is expected to reach US$ 113.96 million by 2028 from US$ 89.88 million in 2021. The market is estimated to grow at a CAGR of 3.4% from 2021 to 2028. The report provides trends prevailing in the MEA vacuum insulated pipe market along with the drivers and restraints pertaining to the market growth. Ongoing technological advancements in exploration of unconventional oil & gas resources is the major factor driving the growth of the MEA vacuum insulated pipe market. However, issues associated with the complications associated with cross-border transportation via pipelines hinder the growth of MEA vacuum insulated pipe market.  

The MEA vacuum insulated pipe market is segmented into product, application and country. Based on type, the MEA vacuum insulated pipe market is segmented into standard and customized. The standard segment dominated the market in 2020 and customized segment is expected to be the fastest growing during the forecast period. Based on application, the MEA vacuum insulated pipe market is segmented into cryogenic, aerospace, electronic manufacturing and testing, food and beverage, and others. The cryogenic segment dominated the market in 2020 and food and beverage segment is expected to be the fastest growing during the forecast period. Based on country, MEA vacuum insulated pipe market is classified into UAE, Saudi Arabia, South Africa, and Rest of SAM.

The MEA vacuum insulated pipe market is majorly affected by the disruption in the supply chain. Pertaining to the closure of country borders, the supply chain of several components and parts have been disturbed. The demand for vacuum insulated pipe has weakened over the past couple of months in MEA countries. This has resulted in a loss of business among the vacuum insulated pipe manufacturers and distributors offering their products to oil & gas and healthcare institutes.

Air Liquide SA, Chart Industries Inc., Cryofab, and TMK are among the leading companies in the MEA vacuum insulated pipe market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Air Liquide increases stake its stake in Air Liquide Munay Tech Gases (ALMTG) by 75% and planning to invest up to 86 million euros to acquire hydrogen and nitrogen production units from Atyrau refinery owned by KazMunayGas. As per the new agreement, LMTG will operate these assets to supply industrial gases to the Atyrau refinery.

MEA Vacuum Insulated Pipe Market, By Country, 2020 and 2028 (%) 

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com