Steam Trap Market - Forecasts from 2019 to 2024

The steam trap market is projected to grow at a CAGR of 4.86% to reach US$2.593 billion by 2024, from US$1.951 billion in 2018. A steam trap is an automatic valve system that allows air and non-condensable gases to be discharged from the steam system. The optimal functioning of the steam system tends to improve the overall steam plant efficiency, thus, resulting in the delivery of high quality steams required in the production process. As such, the growing use of steam for different applications is significantly driving the stream trap market over the years.

This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the stream trap value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the steam trap market.

Major industry players profiled as part of the report are Emerson Electric Co., Spirax Sarco Limited, Watts Water Technologies, Inc., and Armstrong International Inc. among others.

Segmentation

The steam trap market has been analyzed through following segments:

By Type

Mechanical
Thermodynamic
Thermostatic

By Application

Drip Application
Process Application
Tracing Application

By Industry Vertical

Chemical
Energy & Power
Oil & Gas
Healthcare
Food & Beverage
Others

By Geography

North America
USA
Canada
Mexico
Others

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
India
Others