Steam Trap Market by Product (Thermodynamic, Mechanical, Thermostatic), Application (Drip Application, Process Application, Tracing Application), Body Material (Steel, Iron), End-user Industry, and Geography - Global Forecast to 2022

  • ID: 4211643
  • Report
  • Region: Global
  • 165 Pages
  • Markets and Markets
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The Steam Trap Market Es estimated at USD 3.34 Billion in 2017 and is Projected to Grow at a CAGR of 4.2% to Reach USD 4.11 Billion by 2022

FEATURED COMPANIES

  • Bestobell Steam Traps
  • Emerson Electric Co.
  • Flowserve Corporation
  • Key Innovator
  • Pentair PLC
  • Schlumberger N.V.
  • MORE

The steam trap market is estimated at USD 3.34 billion in 2017 and is projected to grow at a CAGR of 4.2% to reach USD 4.11 billion by 2022. This can be attributed to the growing sustainability concerns, stringent regulatory framework to reduce carbon footprint, and the active adoption of steam traps by end-user industries to ramp up fuel savings.

Mechanical steam traps held the largest size of the steam trap market in 2017. Mechanical steam traps sense the difference in density between the condensate and the steam. These steam traps are well-suited for a wide range of process applications due to their capability of continuously discharging large volumes of condensate. Owing to the distinct features-such as excellent air venting capabilities, minimal condensate backup, and continuous condensate discharge and robust design-of mechanical steam traps, the mechanical steam trap segment is expected to dominate the market during the forecast period between 2017 and 2022.

Tracing application will likely lead the steam trap market between 2017 and 2022. Tracing application of steam trap refers to the utilization of steam to indirectly raise the temperature of a process or product. This is achieved by using some type of jacketing device or tubing filled with steam. Typical steam tracing application utilizes copper or stainless steel tubing. This tubing is filled with steam and wrapped or coiled around the outside of a tank or pipe containing material for heating. The steam present in the tubing transfers its heat energy to the material in the pipe or tank. This prevents the material from freezing or losing its viscosity, thereby facilitating material flow.

The market for the food & beverages end-user industry is estimated to register the highest CAGR between 2017 and 2022. Owing to favorable legislative policies and strict regulations mandating environmental friendly manufacturing operations, and increasing investments by manufacturing companies to enhance product quality to meet the changing consumer preferences, there is likely to be increased demand for steam traps during the forecast period.

APAC is expected to be the fastest-growing market for steam traps during the forecast period. China, Japan, and India are a few major countries contributing toward the growth of the steam trap market in APAC.  This is attributed to the active adoption of steam traps in end-user industries such as chemicals, energy and power, and food & beverages during the forecast period. Increasing infrastructural investments in energy and power, favorable government policies to boost manufacturing efficiency, and rapid industrialization are anticipated to propel the demand for steam traps during the forecast period.

Breakdown of the profiles of the primary participants in the report has been given below:

- By Company Type: Tier 1 - 38%, Tier 2 - 35%, and Tier 3 - 27%
- By Designation: C-Level Executives - 72% and Directors - 28%
- By Region: North America - 31%, Europe - 29%, APAC - 26%, and RoW - 14%

Key players operating in the steam trap market include CIRCOR International, Inc. (US), Emerson Electric Co. (US), Flowserve Corporation (US), Pentair plc (US), Schlumberger N.V. (US), Spirax-Sarco Engineering plc (UK), Thermax Limited (India), The Weir Group PLC (U.K.), Velan Inc. (Canada), and Watts Water Technologies, Inc. (US).

Research Coverage:

The steam trap market research report covers different segments-product, application, body material, end-user industry, and geography. The market is further segmented by product subtype into (1) Mechanical - Ball float and Inverted bucket; and (2) Thermostatic - Balanced pressure and Bimetallic.

The report covers four major geographies - North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Key Benefits of Buying the Report:

  • Illustrative segmentation; analysis; and forecast of the market by product, application, body material, end-user industry, and geography give an overall view of the steam trap market.
  • Value chain analysis to provide in-depth insights into the steam trap market.
  • Major drivers, restraints, opportunities, and challenges for the steam trap market.
  • Detailed competitive landscape, along with the key players, in-depth analysis, and revenue of the key players.
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FEATURED COMPANIES

  • Bestobell Steam Traps
  • Emerson Electric Co.
  • Flowserve Corporation
  • Key Innovator
  • Pentair PLC
  • Schlumberger N.V.
  • MORE
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Scope of the Study
1.3.1 Market Segmentation
1.3.2 Geographic Scope
1.3.3 Years Considered for the Study
1.4 Currency and Pricing
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Value Chain Analysis - Industrial Automation
2.2.1 Secondary Data
2.2.1.1 Key Data From Secondary Sources
2.2.2 Primary Data
2.2.2.1 Primary Interviews With Experts
2.2.2.2 Key Data Points From Primary Sources
2.2.2.3 Key Industry Insights
2.2.2.4 Breakdown of Primary Interviews
2.3 Secondary and Primary Research
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach
2.4.1.1 Approach for Capturing the Market Share By Bottom-Up Analysis (Demand Side)
2.4.2 Top-Down Approach
2.4.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
2.5 Market Breakdown and Data Triangulation
2.6 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities Steam Trap Market, 2017-2022 (USD Billion)
4.2 Steam Trap, By Product
4.3 Steam Trap, By Application
4.4 Steam Trap, By Body Material
4.5 Steam Trap, By End-User Industry
4.6 Steam Trap, By Geography

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 End-User Industries are Actively Adopting Steam Traps to Ramp Up Fuel Savings
5.2.1.2 Strict Regulations Imposed By Regulatory Bodies to Enhance Manufacturing Efficiency and Reduced Cost
5.2.2 Restraints
5.2.2.1 Periodic Maintenance and Operational Costs Associated With the Operations of Steam Traps
5.2.3 Opportunities
5.2.3.1 Rising Investments in Power Infrastructure in Emerging Economies
5.2.4 Challenges
5.2.4.1 Limited Maintenance Programs for Steam Trap Across End-User Industries

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Wireless Steam Trap Monitoring

7 Steam Trap Market, By Product
7.1 Introduction
7.2 Mechanical
7.3 Thermodynamic
7.4 Thermostatic

8 Steam Trap Market, By Application
8.1 Introduction
8.2 Tracing Application
8.3 Drip Application
8.4 Process Application

9 Steam Trap Market, By Body Material
9.1 Introduction
9.2 Steel
9.3 Iron
9.4 Others

10 Steam Trap Market, By End-User Industry
10.1 Introduction
10.2 Chemicals
10.3 Energy and Power
10.4 Food & Beverages
10.5 Oil & Gas
10.6 Pharmaceuticals
10.7 Others

11 Geographic Analysis
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Rest of Europe
11.4 APAC
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 Rest of APAC
11.5 RoW
11.5.1 Africa
11.5.2 Middle East
11.5.3 South America

12 Competitive Landscape
12.1 Introduction
12.2 Competitive Analysis
12.2.1 Market Ranking Analysis of the Steam Trap Market, 2016
12.3 Dive Chart
12.3.1 Dynamic
12.3.2 Innovators
12.3.3 Vanguards
12.3.4 Emerging
12.4 Product Offering
12.5 Business Strategy
  • Top 25 Companies Analyzed for This Study are - the 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., and Bell & Gossett
12.6 Competitive Situation and Trends
12.6.1 New Product Launches and Developments
12.6.2 Partnerships, Agreements, Strategic Alliances, Collaborations
12.6.3 Expansions

13 Company Profiles
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View) -
13.1 Introduction
13.2 Spirax-Sarco Engineering PLC
13.3 Pentair PLC
13.4 The Weir Group PLC
13.5 Flowserve Corporation
13.6 Circor International, Inc.
13.7 Emerson Electric Co.
13.8 Schlumberger N.V.
13.9 Thermax Limited
13.10 Velan Inc.
13.11 Watts Water Technologies, Inc.
13.12 Key Innovator
13.12.1 Bestobell Steam Traps
13.12.2 Watson Mcdaniel Company

14 Appendix
14.1 Insights of Industry Experts
14.2 Discussion Guide

List of Tables

Table 1 List of Major Secondary Sources
Table 2 Steam Trap Market Size, 2014-2022
Table 3 Market Size, By Product, 2014-2022 (USD Million)
Table 4 Market Size, By Product, 2014-2022 (Million Units)
Table 5 Market Size, By Mechanical Sub-Type, 2014-2022 (USD Million)
Table 6 Market Size, By Mechanical Sub-Type, 2014-2022 (Million Units)
Table 7 Mechanical Market Size, By Body Material, 2014-2022 (USD Million)
Table 8 Ball Float Market Size, By Body Material, 2014-2022 (USD Million)
Table 9 Inverted Bucket Steam Trap Size, By Body Material, 2014-2022 (USD Million)
Table 10 Thermodynamic Steam Trap Size, By Body Material, 2014-2022 (USD Million)
Table 11 Market Size, By Thermostatic Sub-Type, 2014-2022 (USD Million)
Table 12 Market Size, By Thermostatic Sub-Type, 2014-2022 (Million Units)
Table 13 Thermostatic Steam Trap Size, By Body Material, 2014-2022 (USD Million)
Table 14 Balanced Pressure Steam Trap Size, By Body Material, 2014-2022 (USD Million)
Table 15 Bimetallic Steam Trap Size, By Body Material, 2014-2022 (USD Million)
Table 16 Market Size, By Application, 2014-2022 (USD Billion)
Table 17 Market Size, Tracing Application, By End-User Industry, 2014-2022 (USD Million)
Table 18 Market Size, Drip Application, By End-User Industry, 2014-2022 (USD Million)
Table 19 Market Size, Process Application, By End-User Industry, 2014-2022 (USD Million)
Table 20 Steam Trap Market Size, By Body Material, 2014-2022 (USD Million)
Table 21 Steel Market, By Product, 2014-2022 (USD Million)
Table 22 Iron Market, By Product, 2014-2022 (USD Million)
Table 23 Others Market, By Product, 2014-2022 (USD Million)
Table 24 Market Size, By End-User Industry, 2014-2022 (USD Million)
Table 25 Market Size for End-User Industry, By Geography, 2014-2022 (USD Million)
Table 26 Market Size for Chemical Industry, By Geography, 2014-2022 (USD Million)
Table 27 Market for Chemical Industry, By Product, 2014-2022 (USD Million)
Table 28 Market for Chemical Industry, By Mechanical, 2014-2022 (USD Million)
Table 29 Market for Chemical Industry, By Thermostatic, 2014-2022 (USD Million)
Table 30 Steam Trap Market for Chemical Industry, By Application, 2014-2022 (USD Million)
Table 31 Market Size for Energy & Power Industry, By Geography, 2014-2022 (USD Million)
Table 32 Steam Trap Market for Energy & Power Industry, By Product, 2014-2022 (USD Million)
Table 33 Market for Energy & Power Industry, By Mechanical, 2014-2022 (USD Million)
Table 34 Market for Energy & Power Industry, By Thermostatic, 2014-2022 (USD Million)
Table 35 Market for Energy & Power Industry, By Application, 2014-2022 (USD Million)
Table 36 Steam Trap Market Size for Food & Beverages Industry, By Geography, 2014-2022 (USD Million)
Table 37 Steam Trap Market for Food & Beverages Industry, By Product, 2014-2022 (USD Million)
Table 38 Market for Food & Beverages Industry, By Mechanical, 2014-2022 (USD Million)
Table 39 Market for Food & Beverages Industry, By Thermostatic, 2014-2022 (USD Million)
Table 40 Market for Food & Beverages Industry, By Application, 2014-2022 (USD Million)
Table 41 Steam Trap Market Size for Oil & Gas Industry, By Geography, 2014-2022 (USD Million)
Table 42 Steam Trap Market for Oil & Gas Industry, By Product, 2014-2022 (USD Million)
Table 43 Market for Oil & Gas Industry, By Mechanical, 2014-2022 (USD Million)
Table 44 Market for Oil & Gas Industry, By Thermostatic, 2014-2022 (USD Million)
Table 45 Market for Oil & Gas Industry, By Application, 2014-2022 (USD Million)
Table 46 Steam Trap Market Size for Pharmaceutical Industry, By Geography, 2014-2022 (USD Million)
Table 47 Market for Pharmaceutical Industry, By Product, 2014-2022 (USD Million)
Table 48 Market for Pharmaceutical Industry, By Mechanical, 2014-2022 (USD Million)
Table 49 Market for Pharmaceutical Industry, By Thermostatic, 2014-2022 (USD Million)
Table 50 Market for the Pharmaceuticals Industry, By Application, 2014-2022 (USD Million)
Table 51 Steam Trap Market Size for Others Industry, By Geography, 2014-2022 (USD Million)
Table 52 Steam Trap Market for Others Industry, By Product, 2014-2022 (USD Million)
Table 53 Market for Others Industry, By Mechanical, 2014-2022 (USD Million)
Table 54 Market for Others Industry, By Thermostatic, 2014-2022 (USD Million)
Table 55 Market for Others Industry, By Application, 2014-2022 (USD Million)
Table 56 Steam Trap Market, By Geography, 2014-2022 (USD Million)
Table 57 North America Steam Trap, By End-User Industry, 2014-2022, (USD Million)
Table 58 Steam Trap Market in North America, By Country, 2014-2022, (USD Million)
Table 59 Europe Steam Trap Market, By End-User Industry, 2014-2022, (USD Million)
Table 60 Steam Trap Market in Europe, By Country, 2014-2022, (USD Million)
Table 61 APAC Steam Trap Market, By End-User Industry, 2014-2022, (USD Million)
Table 62 Steam Trap Market in APAC, By Country, 2014-2022, (USD Million)
Table 63 RoW Steam Trap Market, By End-User Industry, 2014-2022, (USD Million)
Table 64 Steam Trap Market in RoW, By Country, 2014-2022, (USD Million)
Table 65 Ranking of Key Players in the Steam Trap Market, 2016
Table 66 New Product Launches and Developments, 2015-2017
Table 67 Partnerships, Agreements, Strategic Alliances, Collaborations, 2015-2017
Table 68 Expansions, 2015-2017

List of Figures

Figure 1 Research Design
Figure 2 Value Chain - Industrial Automation
Figure 3 Bottom-Up Approach to Arrive at the Market Size
Figure 4 Top-Down Approach to Arrive at the Market Size
Figure 5 Data Triangulation Methodology
Figure 6 Assumptions of the Research Study
Figure 7 Steam Trap Market Size (2017-2022)
Figure 8 Snapshot: Steam Trap Market, By Product
Figure 9 Snapshot: Steam Trap Market, By Application
Figure 10 Snapshot: Steam Trap Market, By Body Material
Figure 11 Snapshot: Steam Trap Market, By End-User Industry
Figure 12 Steam Trap Market, By Geography, 2016
Figure 13 Attractive Growth Opportunities in the Steam Trap Market During the Forecast Period
Figure 14 Mechanical Segment Expected to Hold the Largest Share of the Steam Trap Market in 2017
Figure 15 Tracing Application to Grow at the Highest Rate During the Forecast Period
Figure 16 Steel Body Material is Likely to Witness High Growth Over 2017-2022
Figure 17 Oil & Gas Expected to Hold the Largest Share of the Steam Trap Market in 2017
Figure 18 US to Hold the Largest Size of the Steam Trap Market in 2017
Figure 19 Active Adoption of Steam Traps By End-User Industries to Ramp Up Fuel Savings is Anticipated to Boost the Growth of the Steam Trap Market
Figure 20 Value Chain Analysis: R&D and Manufacturing Phases Add Maximum Value
Figure 21 Steam Trap Market Segmentation, By Product
Figure 22 Mechanical Steam Trap Segment is Anticipated to Lead the Steam Trap Market Between 2017 and 2022
Figure 23 Steam Trap Market Segmentation, By Application
Figure 24 Tracing Application Will Likely Lead the Steam Trap Market Between 2017 and 2022
Figure 25 Steam Trap Market Segmentation, By Body Material
Figure 26 Steel Body Material is Projected to Register the Fastest Growth Between 2017 and 2022
Figure 27 The Oil & Gas Industry Will Likely Lead the Steam Trap Market Between 2017 and 2022
Figure 28 The APAC Region is Anticipated to Witness Highest Growth in the Chemical Industry
Figure 29 North America is Anticipated to Continue Its Dominance Over the Forecast Period
Figure 30 APAC is Projected to Witness Exponential Growth By 2022
Figure 31 North America is Expected to Maintain Its Dominance in the Oil & Gas Industry
Figure 32 The Steam Trap Market for the Pharmaceuticals End-User Industry in APAC is Forecast to Witness the Fastest Growth
Figure 33 North America Accounts for the Highest Market Share in the Steam Trap Market
Figure 34 Geographic Snapshot: Global Steam Trap Market, 2017-2022
Figure 35 APAC is Expected to Register the Highest CAGR Over 2017-2022
Figure 36 Snapshot: Steam Trap Market in North America
Figure 37 US is Anticipated to Witness the Fastest Growth During the Forecast Period
Figure 38 Snapshot: Steam Trap Market in Europe
Figure 39 Germany Likely to Lead the European Steam Trap Market During the Forecast Period
Figure 40 India is Projected to Register the Highest CAGR During the Forecast Period
Figure 41 Middle East Leads the RoW Steam Trap Market
Figure 42 Companies Adopted Acquisitions, Partnerships, Agreements, and Joint Ventures as Key Growth Strategies Between 2015 and 2017
Figure 43 Dive Chart Overview
Figure 44 Market Evolution Framework: Acquisitions, Partnerships, Agreements, and Joint Ventures Fuelled the Growth of the Steam Trap Market
Figure 45 Battle for Market Share: “Acquisitions, Partnerships, Agreements, and Joint Ventures” is the Key Strategy
Figure 46 Spirax-Sarco Engineering PLC: Company Snapshot
Figure 47 Spirax-Sarco Engineering PLC: Product Offering
Figure 48 Spirax-Sarco Engineering PLC: Business Strategy
Figure 49 Pentair PLC: Company Snapshot
Figure 50 Pentair PLC: Product Offering
Figure 51 Pentair PLC: Business Strategy
Figure 52 The Weir Group PLC: Company Snapshot
Figure 53 The Weir Group PLC: Product Offering
Figure 54 The Weir Group PLC: Business Strategy
Figure 55 Flowserve Corporation: Company Snapshot
Figure 56 Flowserve Corporation: Product Offering
Figure 57 Flowserve Corporation: Business Strategy
Figure 58 Circor International, Inc.: Company Snapshot
Figure 59 Circor International, Inc.: Product Offering
Figure 60 Circor International, Inc.: Business Strategy
Figure 61 Emerson Electric Co.: Company Snapshot
Figure 62 Emerson Electric Co.: Product Offering
Figure 63 Emerson Electric Co.: Business Strategy
Figure 64 Schlumberger N.V.: Company Snapshot
Figure 65 Schlumberger N.V.: Product Offering
Figure 66 Schlumberger N.V.: Business Strategy
Figure 67 Thermax Limited: Company Snapshot
Figure 68 Thermax Limited: Product Offering
Figure 69 Thermax Limited: Business Strategy
Figure 70 Velan Inc.: Company Snapshot
Figure 71 Velan Inc.: Product Offering
Figure 72 Velan Inc.: Business Strategy
Figure 73 Watts Water Technologies, Inc.: Company Snapshot
Figure 74 Watts Water Technologies, Inc.: Product Offering
Figure 75 Watts Water Technologies, Inc.: Business Strategy
Note: Product cover images may vary from those shown
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  • Bestobell Steam Traps
  • Circor International, Inc.
  • Emerson Electric Co.
  • Flowserve Corporation
  • Key Innovator
  • Pentair PLC
  • Schlumberger N.V.
  • Spirax-Sarco Engineering PLC
  • The Weir Group PLC
  • Thermax Limited
  • Velan Inc.
  • Watson Mcdaniel Company
  • Watts Water Technologies, Inc.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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