Market Overview:
The global steam trap market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for energy-efficient systems and equipment, and the growing awareness about energy conservation. The global steam trap market is segmented by type, application, and region. By type, the market is divided into thermodynamic traps, mechanical traps, and thermostatic traps. Thermodynamic traps are further classified into float & thermostatic valves (F&TV), inverted bucket (IB), disc & diaphragm valves (DDV), ball valves (BV), and others; while mechanical traps are classified into bucket & ball valve assemblies (BBVA), inverted bucket Traps (IBT), wafer style check valve with integral strainer(WSCIVS)and others .Thermostatic Traps are further sub-segmented as balanced pressure thermostatic trap(BPTT)and unbalanced pressure thermostatic Trap(UPTT). By application, the market is divided into drip applications,, process applications,, tracing applications,, heating water systems,, cooling water systems,. Drip application dominates th emarket with a share of more than 50%.
Product Definition:
A steam trap is a device used to discharge condensate and non-condensable gases from a system or process. The primary purpose of a steam trap is to maintain the quality of the steam being produced while also reducing energy losses.
Thermodynamic:
Thermodynamic is a property of matter or energy that deals with the relation between heat and temperature. The study of these relations provides information on phase changes, such as ice melting and boiling. Thermodynamics also plays an important role in the design of engines for steam turbines used in power plants.
Mechanical:
Mechanical is used in steam trap market for the purpose of removing condensate from high-pressure steam. Condensate is produced as a result of water vaporization during the process of steaming and it must be removed to avoid damage to sensitive components. The removal process can be done by various methods such as cooling, reboiler feed, and mechanical methods.
Application Insights:
Drip application is expected to be the dominant segment in terms of revenue share by 2030. This is attributed to its low capacity utilization as compared to other applications. Steam traps are used for preventing condensation formation on cold drinks and for drying wet laundry, thereby increasing the life of industrial machinery and equipment. They are also used in food processing industries where there is a high risk of contamination from bacteria or fungi growing on the surface of raw materials or products leading to improper packaging, quality deterioration or even product spoilage.
Process application was estimated as 25% share in 2017 owing to its rising use across petrochemical plants and chemical refineries among other industries such as power generation.
Regional Analysis:
Europe dominated the global steam trap market in terms of revenue share in 2017. The growth is attributed to the presence of numerous manufacturing industries and power generation units across countries such as Germany, U.K., France, Italy, and Russia among others. Moreover, stringent government regulations regarding emission control are also expected to drive demand for these traps over the forecast period.
Asia Pacific is anticipated to witness significant growth over the next eight years owing to rapid industrialization coupled with increasing awareness about energy conservation practices among end-users such as manufacturers and power plants owners.
China was one of largest markets for steam traps globally due its large number of manufacturing industries along with a high population density that demands a lot more energy for basic needs like cooking food or heating water resulting into higher electricity consumption rates which ultimately drives industry growth over time span considered here i n .
Growth Factors:
- Increasing demand from the process industries for energy-efficient and reliable steam traps
- Growing awareness about the benefits of using steam traps for efficient plant operation
- Proliferation of smart technologies in industrial plants that can help optimize trap performance
- Stringent environmental regulations driving investments in energy-efficiency measures across industries
- Rising demand for replacement parts and services as aging infrastructure is replaced or upgraded
Scope Of The Report
Report Attributes
Report Details
Report Title
Steam Trap Market Research Report
By Type
Thermodynamic, Mechanical, Thermostatic
By Application
Drip Application, Process Application, Tracing Application
By Companies
Spirax-Sarco Engineering, Pentair, The Weir Group, Flowserve, Circor, Emerson Electric, Schlumberger, Thermax, Velan, Watts Water Technologies, Spirax-Sarco Engineering
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Steam Trap Market Report Segments:
The global Steam Trap market is segmented on the basis of:
Types
Thermodynamic, Mechanical, Thermostatic
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Drip Application, Process Application, Tracing Application
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Spirax-Sarco Engineering
- Pentair
- The Weir Group
- Flowserve
- Circor
- Emerson Electric
- Schlumberger
- Thermax
- Velan
- Watts Water Technologies
- Spirax-Sarco Engineering
Highlights of The Steam Trap Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Thermodynamic
- Mechanical
- Thermostatic
- By Application:
- Drip Application
- Process Application
- Tracing Application
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Steam Trap Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A steam trap is a device used to prevent the escape of steam from a boiler or pressure vessel.
Some of the major players in the steam trap market are Spirax-Sarco Engineering, Pentair, The Weir Group, Flowserve, Circor, Emerson Electric, Schlumberger, Thermax, Velan, Watts Water Technologies, Spirax-Sarco Engineering.
The steam trap market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Steam Trap Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Steam Trap Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Steam Trap Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Steam Trap Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Steam Trap Market Size & Forecast, 2020-2028
4.5.1 Steam Trap Market Size and Y-o-Y Growth
4.5.2 Steam Trap Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Thermodynamic
5.2.2 Mechanical
5.2.3 Thermostatic
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Drip Application
6.2.2 Process Application
6.2.3 Tracing Application
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Steam Trap Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Steam Trap Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Thermodynamic
9.6.2 Mechanical
9.6.3 Thermostatic
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Drip Application
9.10.2 Process Application
9.10.3 Tracing Application
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Thermodynamic
10.6.2 Mechanical
10.6.3 Thermostatic
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Drip Application
10.10.2 Process Application
10.10.3 Tracing Application
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Thermodynamic
11.6.2 Mechanical
11.6.3 Thermostatic
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Drip Application
11.10.2 Process Application
11.10.3 Tracing Application
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Thermodynamic
12.6.2 Mechanical
12.6.3 Thermostatic
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Drip Application
12.10.2 Process Application
12.10.3 Tracing Application
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Thermodynamic
13.6.2 Mechanical
13.6.3 Thermostatic
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Drip Application
13.10.2 Process Application
13.10.3 Tracing Application
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Steam Trap Market: Competitive Dashboard
14.2 Global Steam Trap Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Spirax-Sarco Engineering
14.3.2 Pentair
14.3.3 The Weir Group
14.3.4 Flowserve
14.3.5 Circor
14.3.6 Emerson Electric
14.3.7 Schlumberger
14.3.8 Thermax
14.3.9 Velan
14.3.10 Watts Water Technologies
14.3.11 Spirax-Sarco Engineering
