Large Bore Vacuum Insulated Pipe Market Size By Installation (Above Ground, Underground, Under Sea), By Application (Cryogenic, Aerospace, Chemical), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 -

Large Bore Vacuum Insulated Pipe Market Size By Installation (Above Ground, Underground, Under Sea), By Application (Cryogenic, Aerospace, Chemical), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

The global large bore vacuum insulated pipe market is anticipated to register commendable growth over the forecast period, on account of growing investments in the aerospace industry.
Modern aircraft are integrated with advanced propulsion systems that offer longevity and produce low emissions. Major aerospace players are developing new products designed to address these evolving expectations.
For instance, Airbus UpNext unveiled its demonstrator project ASCEND, with the intention of using a hybrid-electric propulsion system integrated with superconducting and cryogenic technologies that can be lighter than a traditional system. The ASCEND project involved the use of a cold source such as liquid hydrogen to increase the power density without compromising system weight, amplifying the need for efficient piping solutions, and in turn, augmenting industry growth.
Although cryogenic liquids are expected to become future fuel sources, these liquified gases can lead to accidents with a sudden rise in pressure due to excessive boil-off. This can create issues in high-volume storage scenarios, increasing the need for highly skilled personnel to handle and use these liquids. These factors may discourage many manufacturers from procuring cryogenic liquids and integrating them into their technologies, and in consequence, impede large bore vacuum insulated pipe market growth.
The large bore vacuum insulated pipe market is bifurcated in terms of installation, application, and region.
In terms of installation, the under-sea segment is poised to register appreciable proceeds over the estimated timeline, owing to the growing usage of sub-sea cryogenic piping. Companies are implementing these systems for onshore as well as offshore applications.
Citing an instance, the subsea LNG pipeline technology developed by Fluor was designed to be highly reliable, offer better life cycle costs, and require lower costs to build. Furthermore, the technology was built to leverage LNG’s inherently cold energy whilst retaining strong plant operations with little impact on the environment, influencing market dynamics.
Based on application, the chemical segment is projected to attain reasonable growth, given the rising usage of cryogenic systems in the chemical industry. Cryogenic piping systems are used to transfer cryogenic liquid which finds various applications across chemical processes.
For instance, nitrogen is used in chemical facilities as a liquifying agent, and it also generates modified atmospheres for safeguarding facilities. This is expected to foster large bore vacuum insulated pipe market growth from the segment.
From a regional purview, the North America market held a significant value in 2021. Advancements in cryogenic technology in addition to increased disposable income have encouraged financiers to increase investments in the region.
Additionally, growing awareness among customers in North America regarding the benefit of using sustainable solutions with advanced vacuum insulated pipes as replacement for traditional pipelines. is poised to fuel regional market growth.