The construction of 2000 meters of vacuum-insulated pipe with a maximum diameter of DN 350 for an LNG bunkering project in Sweden was won by Cryospain.
The General Authority for Competition of the Kingdom of Saudi Arabia granted Perma-Pipe International Holdings, Inc. permission to form the previously announced joint venture with Gulf Insulation Group in order to offer pre-insulated piping systems, piping fabrication, internal and external fusion-bonded epoxy, three-layer coating services, and leak detection systems to clients in Kuwait and Bahrain in addition to the Kingdom of Saudi Arabia.
Author Credits: Rushikesh, Richa Gupta
Report ID: 5600
Published Date: Feb 05, 2024
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Rising demand in cryogenic applications, growing LNG industry, energy efficiency concerns, expansion of industrial gas applications, and infrastructure development in the healthcare sector are some of the major growth drivers in the large bore vacuum insulated market.
The market size of large bore vacuum insulated is anticipated to attain a CAGR of 7 % over the forecast period, i.e., 2024-2036.
The major players in the market are InTech GmbH, CRYOSPAIN, Demaco Holland B.V., Butting CryoTech GmbH, TMK, Maxcon Industries Pty. Ltd., Cryoworld B.V., Perma-Pipe International Holdings Inc., Cryogas Equipment Private Limited., PHPK Technologies, and others.
The cryogenic segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.
The market in the European region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.