Large Bore Vacuum Insulated Pipe Market Analysis

Large Bore Vacuum Insulated Pipe Market Analysis

The cryogenic application of large bore vacuum insulated pipe market is expected to register remuneration worth of USD 78 million by 2030. Advancements toward the exploration and generation of oil & gas resources to bridge the demand-supply gap have created favorable growth opportunities for industry players. Additionally, the rise in the export and import of cryogenic liquids such as helium, hydrogen, LNG, and nitrogen will augment business growth. Moreover, the sector has become inclined toward natural gas power facilities, triggering a trending shift toward a gas-oriented economy and in turn boosting product demand.
 

The Europe large bore vacuum insulated pipe market is expected to attain around 6% gains between 2022 and 2030. Rigid policies concerning energy security along with growing LNG trade throughout Europe are expediting market statistics. As per the European Commission, around one-quarter of all energy utilized in the EU is natural gas, with Russia and Norway serving as prominent exporters of LNG. Many countries in South East Europe rely on a single supplier for most of their natural gas. Therefore, to diversify their supplies, the Southern Gas Corridor offers a pipeline infrastructure that brings gas from the Caspian Basin to the EU. Europe vacuum insulated pipe industry is likely to cross USD 489.2 Million by 2032.