Global Pre-Insulated Pipes Market to Hold Maximum Shares By 2024- Exclusive Report by MarketsandMarkets™

(MENAFN- market Research HUB) The 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.

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Pre-Insulated Pipes Market

Based on installation, the below ground segment is projected to grow at the higher CAGR between 2019 and 2024. Below ground systems are also known as buried/ underground installations, which are the most widely used globally. Long straight below ground installations are preferred as they reduce the requirement for fittings, joints, and welding. Below ground systems are however high on labor and installation costs, since these require digging, both, during installation and maintenance.

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.

Key players in the pre-insulated pipes market include Georg Fischer AG (Switzerland), Logstor (Denmark), Uponor (Finland), Watts Water Technologies (US), Perma-Pipe International Holdings (US), Kabelwerke Brugg (Switzerland), Polypipe Group PLC (UK), and Isoplus Fernwaermetechnik GmbH (Germany), among various others. Key market players have focused on the adoption of expansions, acquisitions, and contracts strategies to cater to the demand for pre-insulated pipes across various applications for various end-use industries. In July 2017, GF Piping Systems, a division of Georg Fischer AG, acquired a 49% shareholding in Urecon Ltd. (Canada), a major player in pre-insulated piping systems. With this acquisition, GF Piping Systems enhanced its footprint in North America. The purpose of the development was to accelerate the introduction of the pre-insulated piping system package for cooling and air-conditioning in North America.

In May 2017, Uponor Oyj. invested USD 17.4 million in its production facility in Apple Valley, Minnesota (US). This is the tenth expansion since the Apple Valley facility started operating in 1990. The purpose of expansion is to enhance the production capacity of the mentioned facility. With this development, the company expects to meet the rising demand for PEX pipes in North America.

In August 2016, Perma-Pipe International Holdings, Inc. acquired 100% shareholding of Bayou Perma-Pipe Canada, for USD 9.6 million. With this acquisition, Perma-Pipe International Holdings, Inc. diversified its operations while enhancing their geographical presence in North America. This development is expected to create a synergy which would offer a competitive edge in the district heating & cooling market in the region.

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In January 2016, Uponor Oyj acquired 100% shareholdings in 2 companies, Delta Systemtechnik GmbH and KaMo Group (Germany). The development is aimed at supporting and diversifying the product portfolio of Uponor Oyj. The purpose of the acquisitions is to provide a competitive advantage to Uponor Oyj in the potable water and heat transfer sectors in the European region.

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