Pre-Insulated Pipes Market Projected to Stand at a Valuation of US$ 10.2 billion by 2024- Exclusive Report by MarketsandMarkets™
Verfasser: ashwani_kailiya on Monday, 7 March 2022The pre-insulated pipes market is projected to grow from USD 6.4 billion in 2019 to USD 10.2 billion by 2024 at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period. Pre-insulated pipes are replacing traditionally insulated pipes in almost all applications due to their increased advantages, such as superior efficiency, enhanced insulation, and better physical performance. Pre-insulated pipes are energy efficient as compared with traditionally insulated pipes and prevent heat losses by 40% over traditionally insulated pipes, which directly reflects in cost savings. These factors have resulted in the increased adoption of pre-insulated pipes in various end-use industries to prevent heat loss and conserve energy.
Based on end-use industry, the district heating & cooling segment is projected to grow at the highest CAGR between 2019 and 2024. The requirement for energy efficient and eco-friendly infrastructure is driving the demand for pre-insulated pipes. Factors such as regulations, increasing awareness towards environment, long term benefits of pre-insulated pipes, growing infrastructure activities in the Asia Pacific, and government initiatives, such as smart cities are some of the major factors driving the market.
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