Steam Trap Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Steam Trap Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

  • June 2020 •
  • 108 pages •
  • Report ID: 5917307 •
  • Format: PDF
The global steam trap market is currently witnessing stable growth.

A steam trap is a mechanical valve that is used to discharge condensates and non-condensates, such as air and carbon dioxide, from steam lines. Mechanical, thermostatic and thermodynamic traps are the most common types of steam traps available in the market. They are commonly used in bulk storage tanks, pressure reducing valve stations, steamers, heat exchangers and reboilers. They also act as a separation point between the condensates and the steam system to create latent heat and transfer it to a specific product. Owing to this, stream traps find extensive application across various industries, including oil and gas, power generation, chemicals, pharmaceuticals, pulp and paper, and food and beverages.

Growing industrialization is one of the key factors driving the growth of the market. Stream traps are highly durable, light in weight and have a long shelf life. Owing to this, they are widely adopted for sterilization and enhancing the efficiency of various industrial processes. Furthermore, the increasing oil and gas exploratory activities across the globe are also providing a boost to the market growth. Additionally, various technological advancements, including the development of wireless monitoring systems, are acting as another growth-inducing factor. Advanced steam traps are equipped with thermocouple sensors to take temperature readings at periodic intervals and transmit the signals to an interface for the user to remotely access it. Other factors, including the implementation of favorable government policies promoting the sustainable utilization of energy resources and extensive research and development (R&D) activities, along with the rising trend of automation in the oil and gas industry, are projected to drive the market further. Looking forward, the analyst expects the market to register a CAGR of 3.5% during 2020-2025.

Breakup by Product Type:
Thermodynamic
Mechanical
Thermostatic

Breakup by Application:
Instrument Steam Tracing
Line Steam Tracing
Drip Application
Process Application
Ohers

Breakup by Material Type:
Steel
Iron
Others

Breakup by Distribution Channel:
Online
Offline

Breakup by End-Use Industry:
Oil & Gas
Power Generation
Pharmaceuticals
Food & Beverages
Pulp & Paper
Chemical
Others

Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Circor International Inc., Emerson Electric Co., Flowserve Corporation, Pentair Inc., Schlumberger Limited, Spirax-Sarco Engineering, Thermax Ltd., Velan Inc., Watts Water Technologies Inc., The Weir Group PLC, etc.

Key Questions Answered in This Report:
How has the global steam trap market performed so far and how will it perform in the coming years?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the material type?
What is the breakup of the market based on the distribution channel?
What is the breakup of the market based on the end-use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global steam trap market and who are the key players?
What is the degree of competition in the industry?