The Global Steam Trap Market accounted for USD 2.25 billion in 2016 growing at a CAGR of 5.79% during the forecast period of 2017 to 2024.
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The Global Steam Trap Market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Global Steam Trap Market analysis By Geography; Product (Mechanical, Thermodynamic, Thermostatic); Body Material (Steel, Iron); Application (Tracing Application, Drip Application, Process Application); Vertical (Chemicals, Energy and Power, Food & Beverages, Oil & Gas, Pharmaceuticals) – Industry Trends and Forecast to 2024
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Steam traps are useful in heating applications where latent heat is generated and carried forward to a specific product. Once the latent heat/energy has been transferred to the product from the steam, the steam condenses and forms condensate.
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A steam trap works to remove condensate and non-condensable, without removing the steam. There are mechanical traps, thermostatic traps, and thermodynamic traps.
It has its wide application in chemicals, energy and power, food & beverages, oil & gas, pharmaceuticals. Active adoption of steam traps may act as a major driver in the growth of steam trap market.
On the other side, high periodic and operational cost may hamper the market.
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Major Market Drivers:
- Active Adoption of Steam Traps
- Strict Regulations Imposed By Regulatory
- Periodic Maintenance and Operational Costs
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On the basis of product:- mechanical, thermodynamic, and thermostatic.
On the basis of body material:- Steel, and iron.
On the basis of application:- Tracing application, drip application, process application.
On the basis of vertical:- Chemicals, energy and power, food & beverages, oil & gas, pharmaceuticals and others.
On the basis of geography:- North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
Major Market Competitors:
Some of the major players of the global steam trap market are :
- Weir Group PLC,
- Watson Mcdaniel Company,
- Tunstall Corporation,
- Emerson Electric Co.,
- Schlumberger N.V.,
- Watts Water Technologies, Inc., and Tlv International, Inc.,
- Spirax-Sarco Engineering PLC,
- Pentair PLC,
- Flowserve Corporation,
- Circor International, Inc.,
- Thermax Limited and Velan Inc.,
- Marck & Care Engineers Ltd.,
- Armstrong International Inc.,
- Miyawaki Inc.,
- Hawa Engineers Ltd,
- Bestobell Steam Traps,
- Thermal Energy International Inc., and Esco India,
- Neta Valves Pvt. Ltd.,
- Colton Industries,
- Ayvaz, Venn.Co,Ltd.,
- Bell & Gossett
- among others.
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