Global Steam Trap Market growing at a CAGR of 5.79% during the forecast period of 2017 to 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. The upcoming 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 Report is a compilation of the several factors driving and restraining this market along with a thorough run-down of the sales volume of each product within carefully categorized sub-segments of the market.
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This report consists of below pages:
No of pages : 350
No of Figures: 60
No of Tables: 220
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. 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.
The report for Global Steam Trap Market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others.
The report also measures technology life line curve and market time line to analyze and do more affective investments.
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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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