The directly buried insulated pipe industry is currently in a period of steady growth, with market expansion mainly driven by urban centralized heating needs and the "dual carbon" policy. The global market size will be approximately US$6.413 billion in 2024, and the Chinese market size has reached approximately RMB 35 billion, with the heating sector accounting for 87.3% of the market share. At the same time, procurement volume in the industrial sector increased by 10.8% year-on-year, further boosting industry demand. The current industry has a high degree of marketization but low concentration. Companies are mostly concentrated in the mid- to low-end markets, and the competition landscape is relatively fragmented. Looking forward to the future, the industry will evolve in depth along the three main lines of green, intelligent and high-performance. In terms of greening, companies are developing environmentally friendly raw materials such as bio-based polyols and exploring recycling and reuse technologies for waste pipes. In terms of intelligence, built-in sensors and distributed optical fiber temperature measurement technology will gradually become popular. Combined with big data analysis, real-time monitoring of pipe network leakage and operating status can be achieved, laying the foundation for future "digital twin" urban heating networks. On the product side, the industry will focus on developing new composite insulation structures and large-diameter pipelines suitable for high temperatures above 140°C or deep burial conditions to broaden application scenarios. At the same time, the industry service model will transform from single product sales to an integrated solution of "investment + design + manufacturing + construction + operation", and industry concentration is also expected to further increase with the improvement of standards. Overall, the directly buried insulated pipe industry is continuing to upgrade in the direction of high efficiency, energy saving, intelligence and controllability, and the market prospects are broad.