North America Vacuum Insulated Pipe Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Standard and Customized) and Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing, and Others) 

North America Vacuum Insulated Pipe Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Standard and Customized) and Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing, and Others) 

The vacuum insulated pipe market in North America is expected to grow from US$ 223.18 million in 2021 to US$ 306.24 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The growing consumption of oxygen across the healthcare sector is bolstering the vacuum insulated pipe market growth. The wide gap between the oxygen supply and demand in the sector is likely to increase the production of the same. Thus, the rising production is triggering the demand for vacuum insulated pipes for the safe transfer and storage of the elevated volumes of oxygen at healthcare facilities.

The standard segment led the North America vacuum insulated pipe market, based on product, in 2020. Standard pipes are conventional insulated pipes and hold a larger market share. These pipes are steel pipes fused with a vacuum between inner and outer pipes. The vacuum insulated pipes are available in various sizes, ranging from 0.5 inch to more than 5 inches. Furthermore, the diversified use in transferring large volume of cryogenic liquid such as LNG, hydrogen, and nitrogen is driving the adoption of standard vacuum insulated pipes. Furthermore, the growing SMEs in the region, ease of transportation, and lower cost than customized standard vacuum insulated pipes are among the other factors propelling the growth of the vacuum insulated pipes market for the standard segment.

The US is the worst-hit country in North America due to the COVID-19 outbreak, with thousands of infected individuals facing severe health conditions across the country. Increasing number of infected patients has led the government to impose lockdown across the nation’s borders during Q2. The majority of the manufacturing plants were either temporarily shut or were operating with minimum staff. The supply chain of components and parts was also disrupted. These are a few of the critical issues faced by the North American manufacturers. The US is one of the largest markets for vacuum insulated pipe, especially in medical, aerospace, food & beverages, and energy, owing to stringent government/industry regulations regarding safety and quality standards. However, the outbreak has severely affected the production and revenue generation with a lower number of manufacturing staff.

The overall North America vacuum insulated pipe market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the North America vacuum insulated pipe market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the North America vacuum insulated pipe market. Acme Cryogenics; Air Liquide SA; Chart Industries Inc.; Cryeng Group Pty Ltd.; Cryofab; Cryowork, Inc.; Senior Flexonics; and TMK are among the players operating in the market.

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