Asia Pacific Vacuum Insulated Tubing Market Forecast to 2030

Asia Pacific Vacuum Insulated Tubing Market Forecast to 2030 – Regional Analysis – by Application (Onshore and Offshore)

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Description

The Asia Pacific vacuum insulated tubing market is expected to grow from US$ 4.18 million in 2023 to US$ 5.83 million by 2030. It is estimated to grow at a CAGR of 4.9% from 2023 to 2030.

Maximize Oil Reserves Recovery and Extend Field Life Fuel Asia Pacific Vacuum Insulated Tubing Market

Owing to the higher exploitation of existing wells, several key oil and gas producers such as ExxonMobil, Shell plc, Chevron Corporation, PetroChina, and Saudi Aramco are focusing on maximizing the recovery factor (RF) from their existing oilfields and maintaining an economical oil rate. By implementing EOR methods, operators can revitalize reservoirs and extract additional oil, extending the field’s productive life and maximizing the value of existing assets. Steam flooding EOR method technique helps improve oil displacement, reduce residual oil saturation, and enhance sweep efficiency within the reservoir. Thus, the rising need to maximize oil reserve recovery bolsters the Asia Pacific vacuum insulation tube market.

Asia Pacific Vacuum Insulated Tubing Market Overview

The APAC vacuum insulated tubing market is segmented into India, China, Australia, Malaysia, Indonesia, and the Rest of APAC. APAC is a significant consumer of oil and natural gas. Rapid industrialization, urbanization, and population growth have driven the energy demand. APAC is home to substantial oil and gas reserves. Countries such as China, India, Malaysia, Indonesia, and Australia have significant domestic production. Several key market players in these countries are concentrating on enhanced oil recovery (EOR) projects in order to fulfill the growing consumption of oil. In April 2022, China National Offshore Oil Corporation, one of the leading national oil companies in China announced country’s first offshore large-scale super heavy oil thermal recovery oilfield put into operation. The successful operation of this heavy oil thermal recovery development model is expected to help the development of hundreds of millions of heavy oil resources in Bohai Bay basin. As a result, the number of EOR projects is rising in this region, which is anticipated to bolster the demand for vacuum insulated tubing in the coming years.

Asia Pacific Vacuum Insulated Tubing Market Revenue and Forecast to 2030 (US$ Thousand)

Asia Pacific Vacuum Insulated Tubing Market Segmentation

The Asia Pacific vacuum insulated tubing market is segmented into application and country.

Based on application, the Asia Pacific vacuum insulated market is segmented into onshore and offshore. The onshore segment held the larger share of the Asia Pacific vacuum insulated tubing market in 2023.

Based on country, the Asia Pacific vacuum insulated tubing market is segmented int o Australia, China, India, Indonesia, Malaysia, and Rest of Asia Pacific. China dominated the Asia Pacific vacuum insulated tubing market in 2023.

Andmir Group, Exceed Oilfield Equipment, Imex Canada Inc, ITP Interpipe, Dongying Lake Petroleum Technology Co Ltd (Lake Petro), Nakasawa Resources, Tenergy Equipment & Technology Co., Ltd., Shengji Group, and Vallourec SA are some of the leading companies operating in the Asia Pacific vacuum insulated tubing market.

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At 4.9% CAGR, the Asia Pacific Vacuum Insulated Tubing Market is Speculated to be Worth US$ 5.83 Million by 2030, saysthe research team

According tothe research team’ Research, the Asia Pacific vacuum insulated tubing market was valued at US$ 4.18 million in 2023 and is expected to reach US$ 5.83 million by 2030, registering a CAGR of 4.9% from 2023 to 2030. Growing adoption of efficient oil extraction technique is among the critical factors attributed to the Asia Pacific vacuum insulated tubing market expansion.

The crude oil extraction process includes three phases—primary, secondary, and tertiary (enhanced) recovery. As most of the oil has already been recovered from several oil fields, producers are focusing on several tertiary or EOR techniques that help extract 30 to 60%, or more, of the reservoir’s original oil in place. In recent years, thermal recovery EOR techniques have been gaining traction commercially. In October 2021, LUKOIL and Gazprom Neft announced a collaboration agreement to implement oil recovery enhancement projects. The company used advanced polymers to boost recoverable reserves up to 70% while unlocking additional barrels of Murban crude. Thus, the oil & gas industry is witnessing a trend of growing adoption of efficient oil extraction techniques, which is expected to support the growth of the Asia Pacific vacuum insulated tube market in the coming years.

On the contrary, high cost of implementation of EOR and transition toward clean energy hampers the Asia Pacific vacuum insulated tubing market.

Based on application, the Asia Pacific vacuum insulated tubing market is segmented into onshore and offshore. The onshore segment held 69.7% share of Asia Pacific vacuum insulated tubing market in 2023, amassing US$ 2.91 million. It is projected to garner US$ 3.96 million by 2030 to expand at 4.5% CAGR during 2023-2030.

Based on country, the Asia Pacific vacuum insulated tubing market has been categorized into Australia, China, India, Indonesia, Malaysia, and Rest of Asia Pacific. Our regional analysis states that China captured 42.6% share of Asia Pacific vacuum insulated tubing market in 2023. It was assessed at US$ 1.78 million in 2023 and is likely to hit US$ 2.51 million by 2030, exhibiting a CAGR of 5.0% during 2023-2030.

Key players operating in the Asia Pacific vacuum insulated tubing market are Andmir Group, Exceed Oilfield Equipment, Imex Canada Inc, ITP Interpipe, Dongying Lake Petroleum Technology Co Ltd (Lake Petro), Tenergy Equipment & Technology Co., Ltd., Nakasawa Resources, Shengji Group, and Vallourec SA, among others.

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TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Vacuum Insulated Tubing Market Landscape
4.1 Market Overview
4.2 Asia Pacific PEST Analysis
4.3 Ecosystem Analysis
4.4 Premium Insights
4.4.1 Major VIT End Users by Country
4.5 Expert Opinion
5. Asia Pacific Vacuum Insulated Tubing Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 High Crude Oil Prices
5.1.2 Maximize Oil Reserves Recovery and Extend Field Life
5.2 Market Restraint
5.2.1 High Cost of Implementation of EOR and Transition Toward Clean Energy
5.3 Market Opportunities
5.3.1 Improved Oil Recovery to Reduce Oil Imports
5.4 Market Trends
5.4.1 Growing Adoption of Efficient Oil Extraction Technique
5.5 Impact Analysis of Drivers and Restraints
6. Asia Pacific Vacuum Insulated Tubing Market- Market Analysis
6.1 Asia Pacific Vacuum Insulated Tubing Market Forecast and Analysis
7. Asia Pacific Vacuum Insulated Tubing Market Revenue and Forecast to 2030 – Application.
7.1 Overview
7.2 Asia Pacific Vacuum Insulated Tubing Market, By Application (2022 and 2030)
7.3 Onshore
7.3.1 Overview
7.3.2 Onshore: Asia Pacific Vacuum Insulated Tubing Market Revenue and Forecast To 2030 (US$ ‘000)
7.4 Offshore
7.4.1 Overview
7.4.2 Offshore: Asia Pacific Vacuum Insulated Tubing Market Revenue and Forecast To 2030 (US$ ‘000)
8. Asia Pacific Vacuum Insulated Tubing Market- Country Analysis
8.1 Overview
8.1.1 Asia Pacific: Vacuum Insulated Tubing Market – Revenue (2022) (US$ ‘000)
8.1.2 Asia Pacific: Vacuum Insulated Tubing Market, by Key Country
8.1.2.1 Australia: Vacuum Insulated Tubing Market- Revenue and Forecast to 2030 (US$ ‘000)
8.1.2.1.1 Australia: Vacuum Insulated Tubing Market, By Application
8.1.2.2 China: Vacuum Insulated Tubing Market- Revenue and Forecast to 2030 (US$ ‘000)
8.1.2.2.1 China: Vacuum Insulated Tubing Market, By Application
8.1.2.3 India: Vacuum Insulated Tubing Market- Revenue and Forecast to 2030 (US$ ‘000)
8.1.2.3.1 India: Vacuum Insulated Tubing Market, By Application
8.1.2.4 Indonesia: Vacuum Insulated Tubing Market- Revenue and Forecast to 2030 (US$ ‘000)
8.1.2.4.1 Indonesia: Vacuum Insulated Tubing Market, By Application
8.1.2.5 Malaysia: Vacuum Insulated Tubing Market- Revenue and Forecast to 2030 (US$ ‘000)
8.1.2.5.1 Malaysia: Vacuum Insulated Tubing Market, By Application
8.1.2.6 Rest of Asia Pacific: Vacuum Insulated Tubing Market- Revenue and Forecast to 2030 (US$ ‘000)
8.1.2.6.1 Rest of Asia Pacific: Vacuum Insulated Tubing Market, By Application
9. Company Profiles
9.1 Andmir Group
9.1.1 Key Facts
9.1.2 Business Description
9.1.3 Products and Services
9.1.4 Financial Overview
9.1.5 SWOT Analysis
9.1.6 Key Developments
9.2 Exceed Oilfield Equipment Inc
9.2.1 Key Facts
9.2.2 Business Description
9.2.3 Products and Services
9.2.4 Financial Overview
9.2.5 SWOT Analysis
9.2.6 Key Developments
9.3 Imex Canada Inc
9.3.1 Key Facts
9.3.2 Business Description
9.3.3 Products and Services
9.3.4 Financial Overview
9.3.5 SWOT Analysis
9.3.6 Key Developments
9.4 ITP Interpipe
9.4.1 Key Facts
9.4.2 Business Description
9.4.3 Products and Services
9.4.4 Financial Overview
9.4.5 SWOT Analysis
9.4.6 Key Developments
9.5 Dongying Lake Petroleum Technology Co Ltd
9.5.1 Key Facts
9.5.2 Business Description
9.5.3 Products and Services
9.5.4 Financial Overview
9.5.5 SWOT Analysis
9.5.6 Key Developments
9.6 Nakasawa Resources
9.6.1 Key Facts
9.6.2 Business Description
9.6.3 Products and Services
9.6.4 Financial Overview
9.6.5 SWOT Analysis
9.6.6 Key Developments
9.7 Shengji Group
9.7.1 Key Facts
9.7.2 Business Description
9.7.3 Products and Services
9.7.4 Financial Overview
9.7.5 SWOT Analysis
9.7.6 Key Developments
9.8 Tenergy Equipment & Service Ltd
9.8.1 Key Facts
9.8.2 Business Description
9.8.3 Products and Services
9.8.4 Financial Overview
9.8.5 SWOT Analysis
9.8.6 Key Developments
9.9 Vallourec SA
9.9.1 Key Facts
9.9.2 Business Description
9.9.3 Products and Services
9.9.4 Financial Overview
9.9.5 SWOT Analysis
9.9.6 Key Developments
10. Appendix
10.1 About
10.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific Vacuum Insulated Tubing Market, Revenue and Forecast, 2020-2030 (US$ ‘000)
Table 2. Australia: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 3. China: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 4. India: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 5. Indonesia: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 6. Malaysia: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 7. Rest of Asia Pacific: Vacuum Insulated Tubing Market, By Application – Revenue and Forecast to 2030 (US$ ‘000)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific Vacuum Insulated Tubing Market Segmentation
Figure 2. Asia Pacific Vacuum Insulated Tubing Market Segmentation – Country
Figure 3. Asia Pacific Vacuum Insulated Tubing Market Overview
Figure 4. Asia Pacific Vacuum Insulated Tubing Market, By Application
Figure 5. Asia Pacific Vacuum Insulated Tubing Market, By Country
Figure 6. Asia Pacific : PEST Analysis
Figure 7. Asia Pacific Vacuum Insulated Tubing Market Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. Asia Pacific Vacuum Insulated Tubing Market: Impact Analysis of Drivers and Restraints
Figure 10. Asia Pacific Vacuum Insulated Tubing Market, Forecast and Analysis (US$ ‘000)
Figure 11. Asia Pacific Vacuum Insulated Tubing Market, By Application (2022 and 2030)
Figure 12. Onshore: Asia Pacific Vacuum Insulated Tubing Market Revenue and Forecast to 2030 (US$ ‘000)
Figure 13. Offshore: Asia Pacific Vacuum Insulated Tubing Market Revenue and Forecast to 2030 (US$ ‘000)
Figure 14. Asia Pacific: Vacuum Insulated Tubing Market – Revenue (2022) (US$ ‘000)
Figure 15. Asia Pacific: Vacuum Insulated Tubing Revenue Share, by Key Country (2022 and 2030)
Figure 16. Australia: Vacuum Insulated Tubing Market- Revenue and Forecast to 2030 (US$ ‘000)
Figure 17. China: Vacuum Insulated Tubing Market- Revenue and Forecast to 2030 (US$ ‘000)
Figure 18. India: Vacuum Insulated Tubing Market- Revenue and Forecast to 2030 (US$ ‘000)
Figure 19. Indonesia: Vacuum Insulated Tubing Market- Revenue and Forecast to 2030 (US$ ‘000)
Figure 20. Malaysia: Vacuum Insulated Tubing Market- Revenue and Forecast to 2030 (US$ ‘000)
Figure 21. Rest of Asia Pacific: Vacuum Insulated Tubing Market- Revenue and Forecast to 2030 (US$ ‘000)

The List of Companies – Asia Pacific Vacuum Insulated Tubing Market
– Andmir Group
– Exceed Oilfield Equipment
– Imex Canada Inc
– ITP Interpipe
– Dongying Lake Petroleum Technology Co Ltd (Lake Petro)
– Nakasawa Resources
– Shengji Group
– Vallourec SA
– Tenergy Equipment & Service Ltd

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