Pre-Insulated Pipes Market Size, Leading Players, Regional Outlook, Challenges and Analysis Through 2024

The burning of fossil fuels for producing electricity is the single biggest reason for air pollution, as thermal power plants release massive amounts of greenhouse gases (GHGs). With the rapidly growing population, which will reach almost 11 billion by 2100 from 7.7 billion in 2019, as per the United Nations (UN) World Population Prospects 2019 report, the energy demand will continue to boom and so will the emissions. Though the world is transitioning to renewable sources, which do not lead to air pollution, the transition isn’t fast enough, and coal and natural gas remain the world’s largest energy sources.

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This will be a key reason for the growth of the pre-insulated pipes market revenue from $5,568.5 million in 2018 to $9,597.9 million by 2024, at a 9.7% CAGR between 2019 and 2024 (forecast period). This is because they help in reducing the usage of electricity, which decreases the workload on thermal power plants, thereby bringing down the amount of coal and gas combusted to drive turbine–generators. The purpose of insulating pipes is to prevent the loss or gain of heat, thus maintaining the gas or liquid being transported at a stable temperature.

In this regard, a key driver for the pre-insulated pipes market is the growing construction of net-zero energy buildings (NZEBs). This is because such infrastructure, in tune with the strong environmental concerns, is meant to minimize the usage of energy. Since preventing heat loss and gain can reduce the requirement for heaters and air conditioners, respectively, energy consumption comes down. This is the reason pre-insulated pipes are a key requirement at NZEBs, which are rising in number around the world.

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During the historical period (2014–2018), North America held the largest share in the pre-insulated pipes market on account of the rising number of DHC plants in the U.S. and Canada. Moreover, the U.S. is one of the largest industrial and oil and gas producers on earth, which has led to a huge requirement for such components. The fastest growth till 2024 in the market will likely be witnessed in Europe because, of the adoption of stringent environmental preservation and building standards, which is driving the construction of NZEBs.

Hence, with the strong focus on energy conservation for pollution mitigation, the demand for pre-insulated pipes will boom further.

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