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Steam Trap Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product Type (Mechanical, Thermodynamic, and Thermostatic); End-User (Drip, Process, and Tracing); End-User (Oil and Gas, Pharmaceuticals, Food and Beverage, Pulp and Paper, and Others)- Product Image
Steam Trap Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product Type (Mechanical, Thermodynamic, and Thermostatic); End-User (Drip, Process, and Tracing); End-User (Oil and Gas, Pharmaceuticals, Food and Beverage, Pulp and Paper, and Others)- Product Image
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Steam Trap Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product Type (Mechanical, Thermodynamic, and Thermostatic); End-User (Drip, Process, and Tracing); End-User (Oil and Gas, Pharmaceuticals, Food and Beverage, Pulp and Paper, and Others)

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    Report

  • 169 Pages
  • June 2021
  • Region: Global
  • The Insight Partners
  • ID: 5394030
UP TO OFF until Jun 30th 2024
Description Jump to:

According to latest market study on “Steam Trap Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type, Application, and End-User,” the market is expected to grow from INR 276,535.7 million in 2021 to INR 416,577.0 million by 2028; it is estimated to grow at a CAGR of 6.0% from 2021 to 2028.



Increasing Investments in Oil & Gas Projects across Globe to Drive Market Growth during Forecast Period

Continuous innovations and advancements in technologies offer unconventional drilling and operations completion to enhance the oil & gas production and alter the economic power balance for the predictable future. The constantly increasing investments in the sector boost oil & gas activities. For instance, the junta in Myanmar approved a US$ 2.8 billion investment in oil & gas industry in May 2021, which includes a gas power facility. Additionally, in September 2020, Indian Oil Corp (IOC) invested US$. 172.569 million in setting up a coker unit at their Paradip refinery. Similarly, in 2018, the FLNG Export Terminal and Kitsault Energy Corridor project, Canada, accepted the final investment decision (FID), followed by commencing the construction activities in 2019, which consist of four phases. Furthermore, a few Russian companies, such as Lukoil and Rosneft, witnessed rigorous activities in both production and drilling at the beginning of 2018. In March 2018, the price of crude oil surged to US$ 70 barrel from the US$ 65 per barrel mark. As a result, the growing investments by various regions in oil and gas projects are driving the development of steam traps for oil and gas flow management, which boosts the growth of the steam trap market.



Europe is a one of the key regions for the growth of steam trap market with the presence of many developed countries such as Germany, the UK, France, Italy, Norway, and Sweden. The steam trap manufacturing industry in the region has also been impacted due to the disruptions in supply chains of raw materials and components. In addition, the high adoption of advanced technology solutions in various industries makes this region an ideal market for the growth of steam trap market. Businesses in the region are facing severe economic difficulties as they either had to suspend their operations or reduce their activities in a substantial manner. The region is a major manufacturing and industrial hub for various sectors such as oil & gas, pharmaceuticals, and food & beverage. Due to the COVID-19 outbreak, a delay has been caused in the supply of electronic components. Amid outbreak, due to business lockdowns, travel bans, and supply chain disruptions, the region witnessed an economic slowdown in 2020, and it is continued 2021 also.



Key Findings of the Study:


The global steam trap market is segmented into five major regions-North America, Europe, APAC, MEA, and SAM. In 2020, North America led the market with a substantial revenue share, followed by Europe and APAC. Richards Industrials, a manufacturer of valves, regulators, and other flow control products announced the acquisition of Equilibar LLC. Equilibar LLC provides a broad range of back pressure, vacuum, and electronic regulators, along with specialty valves and other fluid control products. Spirax Sarco, Inc. is a subsidiary of Spirax Sarco Engineering plc. Spirax Sarco launched the FT23 range of float and thermostatic steam traps. This range is mostly suitable for heavily contaminated steam applications. The FT23 range is available in sizes 1½” to 2” and has two body materials: FTS23, stainless steel body with stainless steel cover and FTC23, carbon steel body with stainless steel cover.

Reasons to Buy
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the steam trap market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the steam trap market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Table of Contents

1. Introduction
1.1 Study Scope
1.2 The Publisher's Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Steam Trap Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America- PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 APAC - PEST Analysis
4.2.4 MEA - PEST Analysis
4.2.5 SAM - PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Steam Trap Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Developments and Investments in Energy & Power Sectors
5.1.2 Increasing Investment in Oil & Gas Projects Across the Globe
5.2 Market Restraints
5.2.1 Lack of Efficient Maintenance Programs for Steam Traps
5.3 Market Opportunities
5.3.1 Continuous Growth in Manufacturing Sector
5.4 Market Trends
5.4.1 Development of IoT Sensor Technology for Steam Traps
5.5 Impact Analysis of Drivers and Restraints
6. Steam Trap Market- Global Market Analysis
6.1 Steam Trap Market Overview
6.2 Steam Trap Market Forecast and Analysis
6.3 Market Positioning - North America and Europe Market Players Ranking
7. Steam Trap Market Analysis - By Product Type
7.1 Overview
7.2 Steam Trap Market, By Product Type (2020 and 2028)
7.3 Mechanical
7.3.1 Overview
7.3.2 Mechanical: Steam Trap Market - Revenue, and Forecast to 2028 (INR Million)
7.4 Thermodynamic
7.4.1 Overview
7.4.2 Thermodynamic: Steam Trap Market - Revenue, and Forecast to 2028 (INR Million)
7.5 Thermostatic
7.5.1 Overview
7.5.2 Thermostatic: Steam Trap Market - Revenue, and Forecast to 2028 (INR Million)
8. Steam Trap Market Analysis - By Application
8.1 Overview
8.2 Steam Trap Market, By Application (2020 and 2028)
8.3 Drip
8.3.1 Overview
8.3.2 Drip: Steam Trap Market - Revenue, and Forecast to 2028 (INR Million)
8.4 Tracing
8.4.1 Overview
8.4.2 Tracing: Steam Trap Market - Revenue, and Forecast to 2028 (INR Million)
8.5 Process
8.5.1 Overview
8.5.2 Process: Steam Trap Market - Revenue, and Forecast to 2028 (INR Million)
9. Steam Trap Market Analysis - By End-User
9.1 Overview
9.2 Steam Trap Market, By End-User (2020 and 2028)
9.3 Oil and Gas
9.3.1 Overview
9.3.2 Oil and Gas: Steam Trap Market - Revenue, and Forecast to 2028 (INR Million)
9.4 Pharmaceuticals
9.4.1 Overview
9.4.2 Pharmaceuticals: Steam Trap Market - Revenue, and Forecast to 2028 (INR Million)
9.5 Food and Beverage
9.5.1 Overview
9.5.2 Food and Beverage: Steam Trap Market - Revenue, and Forecast to 2028 (INR Million)
9.6 Pulp and Paper
9.6.1 Overview
9.6.2 Pulp and Paper: Steam Trap Market - Revenue, and Forecast to 2028 (INR Million)
9.7 Others
9.7.1 Overview
9.7.2 Others: Steam Trap Market - Revenue, and Forecast to 2028 (INR Million)
10. Steam Trap Market - Geographic Analysis
10.1 Overview
10.2 North America: Steam Trap Market
10.2.1 North America: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.2.2 North America: Steam Trap Market, by Product Type
10.2.3 North America: Steam Trap Market, by Application
10.2.4 North America: Steam Trap Market, by End-User
10.2.5 North America: Steam Trap Market, by Key Country
10.2.5.1 US: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.2.5.1.1 US: Steam Trap Market, by Product Type
10.2.5.1.2 US: Steam Trap Market, by Application
10.2.5.1.3 US: Steam Trap Market, by End-User
10.2.5.2 Canada: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.2.5.2.1 Canada: Steam Trap Market, by Product Type
10.2.5.2.2 Canada: Steam Trap Market, by Application
10.2.5.2.3 Canada: Steam Trap Market, by End-User
10.2.5.3 Mexico: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.2.5.3.1 Mexico: Steam Trap Market, by Product Type
10.2.5.3.2 Mexico: Steam Trap Market, by Application
10.2.5.3.3 Mexico: Steam Trap Market, by End-User
10.3 Europe: Steam Trap Market
10.3.1 Europe: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.3.2 Europe: Steam Trap Market, by Product Type
10.3.3 Europe: Steam Trap Market, by Application
10.3.4 Europe: Steam Trap Market, by End-User
10.3.5 Europe: Steam Trap Market, by Key Country
10.3.5.1 Germany: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.3.5.1.1 Germany: Steam Trap Market, by Product Type
10.3.5.1.2 Germany: Steam Trap Market, by Application
10.3.5.1.3 Germany: Steam Trap Market, by End-User
10.3.5.2 France: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.3.5.2.1 France: Steam Trap Market, by Product Type
10.3.5.2.2 France: Steam Trap Market, by Application
10.3.5.2.3 France: Steam Trap Market, by End-User
10.3.5.3 Italy: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.3.5.3.1 Italy: Steam Trap Market, by Product Type
10.3.5.3.2 Italy: Steam Trap Market, by Application
10.3.5.3.3 Italy: Steam Trap Market, by End-User
10.3.5.4 UK: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.3.5.4.1 UK: Steam Trap Market, by Product Type
10.3.5.4.2 UK: Steam Trap Market, by Application
10.3.5.4.3 UK: Steam Trap Market, by End-User
10.3.5.5 Russia: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.3.5.5.1 Russia: Steam Trap Market, by Product Type
10.3.5.5.2 Russia: Steam Trap Market, by Application
10.3.5.5.3 Russia: Steam Trap Market, by End-User
10.3.5.6 Rest of Europe: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.3.5.6.1 Rest of Europe: Steam Trap Market, by Product Type
10.3.5.6.2 Rest of Europe: Steam Trap Market, by Application
10.3.5.6.3 Rest of Europe: Steam Trap Market, by End-User
10.4 Asia Pacific: Steam Trap Market
10.4.1 Asia Pacific: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.4.2 Asia Pacific: Steam Trap Market, by Product Type
10.4.3 Asia Pacific: Steam Trap Market, by Application
10.4.4 Asia Pacific: Steam Trap Market, by End-User
10.4.5 Asia Pacific: Steam Trap Market, by Key Country
10.4.5.1 Australia: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.4.5.1.1 Australia: Steam Trap Market, by Product Type
10.4.5.1.2 Australia: Steam Trap Market, by Application
10.4.5.1.3 Australia: Steam Trap Market, by End-User
10.4.5.2 China: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.4.5.2.1 China: Steam Trap Market, by Product Type
10.4.5.2.2 China: Steam Trap Market, by Application
10.4.5.2.3 China: Steam Trap Market, by End-User
10.4.5.3 India: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.4.5.3.1 India: Steam Trap Market, by Product Type
10.4.5.3.2 India: Steam Trap Market, by Application
10.4.5.3.3 India: Steam Trap Market, by End-User
10.4.5.4 Japan: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.4.5.4.1 Japan: Steam Trap Market, by Product Type
10.4.5.4.2 Japan: Steam Trap Market, by Application
10.4.5.4.3 Japan: Steam Trap Market, by End-User
10.4.5.5 South Korea: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.4.5.5.1 South Korea: Steam Trap Market, by Product Type
10.4.5.5.2 South Korea: Steam Trap Market, by Application
10.4.5.5.3 South Korea: Steam Trap Market, by End-User
10.4.5.6 Rest of Asia Pacific: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.4.5.6.1 Rest of Asia Pacific: Steam Trap Market, by Product Type
10.4.5.6.2 Rest of Asia Pacific: Steam Trap Market, by Application
10.4.5.6.3 Rest of Asia Pacific: Steam Trap Market, by End-User
10.5 Middle East & Africa (MEA): Steam Trap Market
10.5.1 MEA: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.5.2 MEA: Steam Trap Market, by Product Type
10.5.3 MEA: Steam Trap Market, by Application
10.5.4 MEA: Steam Trap Market, by End-User
10.5.5 MEA: Steam Trap Market, by Key Country
10.5.5.1 South Africa: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.5.5.1.1 South Africa: Steam Trap Market, by Product Type
10.5.5.1.2 South Africa: Steam Trap Market, by Application
10.5.5.1.3 South Africa: Steam Trap Market, by End-User
10.5.5.2 Saudi Arabia: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.5.5.2.1 Saudi Arabia: Steam Trap Market, by Product Type
10.5.5.2.2 Saudi Arabia: Steam Trap Market, by Application
10.5.5.2.3 Saudi Arabia: Steam Trap Market, by End-User
10.5.5.3 UAE: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.5.5.3.1 UAE: Steam Trap Market, by Product Type
10.5.5.3.2 UAE: Steam Trap Market, by Application
10.5.5.3.3 UAE: Steam Trap Market, by End-User
10.5.5.4 Rest of MEA: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.5.5.4.1 Rest of MEA: Steam Trap Market, by Product Type
10.5.5.4.2 Rest of MEA: Steam Trap Market, by Application
10.5.5.4.3 Rest of MEA: Steam Trap Market, by End-User
10.6 South America: Steam Trap Market
10.6.1 South America: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.6.2 South America: Steam Trap Market, by Product Type
10.6.3 South America: Steam Trap Market, by Application
10.6.4 South America: Steam Trap Market, by End-User
10.6.5 South America: Steam Trap Market, by Key Country
10.6.5.1 Brazil: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.6.5.1.1 Brazil: Steam Trap Market, by Product Type
10.6.5.1.2 Brazil: Steam Trap Market, by Application
10.6.5.1.3 Brazil: Steam Trap Market, by End-User
10.6.5.2 Argentina: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.6.5.2.1 Argentina: Steam Trap Market, by Product Type
10.6.5.2.2 Argentina: Steam Trap Market, by Application
10.6.5.2.3 Argentina: Steam Trap Market, by End-User
10.6.5.3 Rest of SAM: Steam Trap Market - Revenue and Forecast to 2028 (INR Million)
10.6.5.3.1 Rest of SAM: Steam Trap Market, by Product Type
10.6.5.3.2 Rest of SAM: Steam Trap Market, by Application
10.6.5.3.3 Rest of SAM: Steam Trap Market, by End-User
11. Impact of COVID-19 Pandemic on Global Steam Trap Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment of COVID-19 Pandemic
11.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.5 South America Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development
13. Company Profiles
13.1 Bestobell Steam Traps
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 CIRCOR International, Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Emerson Electric Co.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Flowserve Corporation
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Thermal Energy International Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Spirax-Sarco Engineering plc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Forbes Marshall
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Velan Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Watson McDaniel
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Watts Water Technologies, Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Publisher
14.2 Word Index

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Bestobell Steam Traps
  • Circor International, Inc.
  • Emerson Electric Co.
  • Flowserve Corporation
  • Forbes Marshall
  • Spirax-Sarco Engineering Plc
  • Thermal Energy International Inc.
  • Velan Inc.
  • Watson McDaniel
  • Watts Water Technologies, Inc.

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