Global Vacuum Insulated Piping Market 2018-2022
About Vacuum Insulated Piping
Vacuum insulated pipes are used for the transportation and distribution of cryogenic fluids. These pipes have a combination of two pipes in one. There is an inner carrier pipe through which the cryogenic fluid is transferred and an outer pipe that seals and supports the vacuum insulation.
Technavio’s analysts forecast the global vacuum insulated piping market to grow at a CAGR of 5.15% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global vacuum insulated piping market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Vacuum Insulated Piping Market 2018-2022
Technavio recognizes the following companies as the key players in the global vacuum insulated piping market: Acme Cryogenics, Chart Industries, Cryofab, Cryotherm, and TMK Group.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is development of the rapid surface chilling process for poultry industry. Food poisoning issues are a rising concern in the food industry due to the lack of proper food processing. This is primarily due to various bacteria present in the food items. For instance, campylobacter bacterium is a major cause of food poisoning in the UK. This bacterium is mainly spread through raw chicken and causes fever, abdominal pain and diarrhea, vomiting, and nausea.”
According to the report, one driver in the market is growth in global LNG trade. As LNG involves less emissions and is a major substitute for coal, the global LNG trade has been increasing over the last few years, driven by the high demand for natural gas across the globe. With increased focus on climatic changes and carbon emission, there has been a major shift in the use of renewable energy sources.
Further, the report states that one challenge in the market is uncertainties associated with crude oil prices. Crude oil prices are highly volatile and beyond predictions. The price of crude oil is unstable chiefly because of the complex supply chain and value chain. The crude oil prices have been fluctuating over the last few years.
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