Industrial, Manufacturing & Heavy Industry Market News

Global steam trap market to grow by +5.79% CAGR till 2024

Global steam trap market to grow by +5.79% CAGR till 2024

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.

- Advertising -

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

Customize Report of “Global Steam Trap Market” Also Available On Request (As per Requirement)

Access this  Report @ databridgemarketresearch.com/reque…am-trap-market%20

Market Definition: 

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.

- Advertising -

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.

Talk To the Author of this Report:-  databridgemarketresearch.com/speak…steam-trap-market

Major Market Drivers:

  • Active Adoption of Steam Traps
  • Strict Regulations Imposed By Regulatory
  • Periodic Maintenance and Operational Costs

 Request for Detail [email protected] databridgemarketresearch.com/toc/?…steam-trap-market

Market Segmentation:

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.

Read more about This Report @ databridgemarketresearch.com/repor…m-trap-market/%20

News From

Data Bridge Market ResearchData Bridge Market Research
Category: Market Research Publishers and RetailersCompany profile: Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with an unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process. Data bridge is an aftermath of sheer wi ...