Steam Trap Market – An industrial equipment used to discharge condensates and non-condensable gases
- A steam trap is an industrial equipment or device that removes unwanted condensate, air, non-condensable gases etc. from steam generated for industrial application.
- Steam traps are part of the steam system. A condensate is a liquid that is formed during the steam generation process.
- A steam trap acts like an automatic valve that opens and closes as per requirement. Generally, a steam trap is connected to an industrial boiler.
Efforts of global manufacturing companies to reduce wastage in steam generation will drive the Global Steam Trap Market
- Across the globe, heavy industrial manufacturing companies are focused on reducing wastage during industrial steam generation which is used for various purposes. According to the U.S. Department of Energy, close to 20.0% of steam that leaves a central boiler plant is lost during transportation in steam traps through leakage. This increases the production cost. As steam is required in almost all heavy industries with boiler operations, reducing steam wastage in traps increases manufacturing efficiency. Manufacturing plants are looking for energy-efficient steam traps due to all these factors, which is increasing the global sale of steam traps across the world.
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North America to Hold a Leading Share of Global Steam Trap Market
- Geographically, the global Steam Trap market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the Steam Trap market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the Steam Trap market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America Steam Trap market is segmented into Brazil, and Rest of South America.
- North America and Europe dominates the market share due to larger amount of mechanical industries in the region.
Key Players Operating in the Steam Trap Market:
The Steam Trap market is competitive with several global and regional players. Major players are adopting various strategies, such as energy-efficient steam traps to enhance their position in the market.
A few of the key players operating in the global Steam Trap market are:
- Spirax-Sarco Engineering plc
- CIRCOR International, Inc.
- Emerson Electric Co.
- The Weir Group
- Velan Inc.
- Marck & Care Engineers Ltd.
- Armstrong International Inc.
- Miyawaki Inc.
- Hawa Engineers Ltd.
- Bestobell Steam Traps
- Thermal Energy International Inc.
- Bell & Gossett
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Global Steam Trap Market: Research Scope
Global Steam Trap Market, by Product Type
- Thermostatic Steam Trap
- Thermodynamic Steam Trap
- Mechanical Steam Trap
- Others (Metallic Steam Traps, Inverted Bucket Steam Traps, Liquid Expansion Steam Traps, etc.)
Global Steam Trap Market, by Material Type
Global Steam Trap Market, by Application
- Instrument Steam Tracing
- Line Steam Tracing
- Drip Application
- Process Application
- Turbines Drainage
Global Steam Trap Market, by Distribution Channel
The report on the global Steam Trap market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.