The vacuum insulated pipe market in Europe is expected to grow from US$ 267.37 million in 2021 to US$ 406.05 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2021 to 2028.
The growing consumption of oxygen across the healthcare sector is bolstering the vacuum insulated pipe market growth. As per the news (Times of India), India reports the need of ~600 metric tonnes medical oxygen per day, in contrast to the current availability of 375 metric tonnes per day. The wide gap between the oxygen supply and demand in the healthcare sector likely to increase the production of the same, thus triggering the demand for vacuum insulated pipes for the safe transfer and storage of the elevated volumes of oxygen at healthcare facilities.In Europe, Russia is the hardest-hit country by the COVID-19 outbreak, followed by the UK and others. Majority of European countries are expected to suffer an economic hit due to a lack of revenue from various industries, as these countries record the highest number of COVID-19 cases and deaths in the past year. Due to business lockdowns, travel bans, and supply chain disruptions, the region is anticipated to face an economic slowdown in 2020 and most likely in 2021. European countries represent a major market for vacuum insulated pipe owing to the stringent quality and safety regulations in food & beverages and pharmaceutical industries proposed by the government and industry regulators. However, the supply chain disruptions and demand decline from various end-user industries of vacuum insulated pipe market have led to a decline in revenues of market players operating in the European region.
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 Europe vacuum insulated pipe market is expected to grow at a good CAGR during the forecast period.
Europe Vacuum Insulated Pipe Market Revenue and Forecast to 2028 (US$ Million)
Europe Vacuum Insulated Pipe Market Segmentation
Europe Vacuum Insulated Pipe Market – By Product
- Standard
- Customized
Europe Vacuum Insulated Pipe Market – By Application
- Cryogenic
- Aerospace
- Electronic Manufacturing and Testing
- Food and Beverage
- Others
Europe Vacuum Insulated Pipe Market- By Country
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
Europe Vacuum Insulated Pipe Market-Companies Mentioned
- Air Liquide SA
- Chart Industries Inc.
- Cryofab
- Senior Flexonics
- Sps Cryogenics B.V.
- TMK
Europe Vacuum Insulated Pipe Market Strategic Insights
Europe Vacuum Insulated PipeMarket Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 267.37 Million |
| Market Size by 2028 | US$ 406.05 Million |
| CAGR (2021 - 2028) | 6.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
|
Regions and Countries Covered
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| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
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Europe Vacuum Insulated Pipe Market Country and Regional Insights
