The California Long-Term Energy Efficiency Strategy Plan implemented by the California Public Utilities Commission (CPUC) mandates that only net zero energy buildings (NZEBs) be constructed in the state, beginning 2020. Apart from the U.S., China, the U.K., Brazil, Canada, India, Australia, and Germany are also encouraging the construction of NZEBs. These buildings are designed to produce their own electricity and use only as much as they create on-site. Apart from this, such infrastructure must be highly energy-efficient, so that any extra electricity, generated through renewable resources on-site, can be fed to the grid.
As per P&S Intelligence, the increasing development of NZEBs will drive the pre-insulated pipes market from $5,568.5 million in 2018 to $9,597.9 million by 2024, at a 9.7% CAGR during 2019–2024 (forecast period). This is because pre-insulated pipes are an important part of such buildings, keeping the fluids flowing through them cold or hot, by preventing heat loss. These pipes are used to minimize the consumption of electricity for cooling and heating purposes.
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The highest usage of such pipes is presently witnessed in North America, as the construction and chemical processing industries are growing in the region and the adoption of DHC is rising. In the years to come, the demand for such products is expected to increase at the highest pace in Europe, on account of the rapid construction of NZEBs, implementation of strict building energy efficiency standards and codes, and increasing retrofitting and renovation activities for old buildings.
Therefore, as construction activities pick up with a strong focus on conserving electricity, the usage of pre-insulated pipes is set to rise.
Read more: https://www.psmarketresearch.com/market-analysis/pre-insulated-pipes-market
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