Vacuum
Insulated Pipe Market Trends, Statistics & Growth Forecast 2024- 2032

Vacuum
Insulated Pipe Market is anticipated to witness robust growth between 2024
and 2032, primarily owing to the increasing investments in industries such as
food processing, healthcare, and chemicals. According to the IBEF statistics,
the Indian government is estimated to make an investment of more than USD 107
billion in the chemicals and petrochemicals sector by 2025.

Overall, the vacuum insulated
pipe market has been segmented in terms of product, application, and region.

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In the context of the product,
the standard segment is set to witness massive growth through 2032. Standard
pipes boast of distinct advantages such as easy maintenance, low cost, and ease
of transportation, encouraging their adoption across various industry vertices.
Besides, standard pipes are highly durable and have a lifespan of 15 to 20
years.

On the basis of the application,
the vacuum insulated pipe market is likely to be characterized by the food and
beverage segment, which is set to grow at more than 5.5% CAGR over 2024-2032.
The segmental growth can be attributed to the rapidly shifting consumer
preference for processed food items and rising disposable income. The National
Bureau of Statistics of China claimed that the yearly per capita disposable
income in the urban region of China increased by 8.2% from 2020, reaching a
whopping amount of more than USD 6,850 in 2021.

In addition, the total investment
in the food and beverages industry is also increasing, which is being fueled by
the entrance of new domestic and international companies, adding impetus to the
market growth. A recent report by FoodDrinkEurope cited that the food and
beverages industry generated more than USD 1.2 trillion in 2021 across the 27
EU countries.

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In the regional context, in North
America, the vacuum insulated pipe market held more than 20% market share in
2022. The growth of the market in this region will be attributed to the rising
investment in the manufacturing sector and increasing exploration of natural
gas across North American economies.

Additionally, various central
governments are promoting favorable regulatory policies, aimed at developing
low-emission systems, which will also drive the market demand. For instance, in
April 2021, the US government submitted its new NDC (nationally determined
contribution), according to which, by 2032, the country has set an economy-wide
target to reduce its emission of net GHGs by around 50%. Furthermore, technical
progression about product innovation, along with rising disposable income are
attracting more investment in this region, which will add fuel to the market
dynamics.

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