Rising Demand for DHC Systems To Boost Pre-Insulated Pipes Industry Growth

A number of factors, such as the increasing construction of energy-efficient buildings, rising government support for net-zero-energy buildings (NZEBs), and surging deployment of district heating and cooling (DHC) equipment for reducing the consumption of energy during the transportation of fluids, are projected to propel the growth of the pre-insulated pipes market at a CAGR of 9.7% during 2019–2024 (forecast period). According to P&S Intelligence, the market generated revenue of $5,568.5 million in 2018, and it is expected to reach $9,597.9 million by 2024.

One of the prime factors propelling the market is the surging government support for the construction of NZEBs. The construction industry is projected to record significant growth in the coming years. Thus, government and private organizations across the globe are focusing on reducing the energy consumption of the built structures. Pre-insulated pipes are integral to energy systems and offer a solution to reduce the energy footprint. Additionally, they help in the improvement of the resiliency and in the centralization of cooling and heating operations and require less area for ventilation systems.

The application segment of the pre-insulated pipes market is classified into DHC, utilities, and oil and gas. Of these, the DHC category held the largest market share in 2018, and it is expected to witness the same trend in the coming years. This is ascribed to the financial incentives being given for the installation of DHC equipment by governments to reduce energy consumption. Additionally, the incorporation of technologies like artificial intelligence (AI) and the internet of things (IoT) is helping in developing advanced DHC systems.

Geographically, North America held the largest share in the pre-insulated pipes market in 2018 owing to the rising deployment of DHC equipment in downtown districts and construction and chemical processing industries in the region. On the other hand, the European market is projected to record the highest CAGR during the forecast period. This can be attributed to the implementation of building standards and codes, renovation and retrofitting of old buildings, increase in the construction of large NZEBs, and surge in the focus of regional countries on a circular economy.

Thus, the rising adoption of DHC systems and the increasing government support for the construction of NZEBs are projected to propel the demand for pre-insulated pipes during the foreseeable period.

Source: www.psmarketresearch.com

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