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Global Steam Trap Market Size, Share & Industry Trends Analysis Report By Industry, By Product (Mechanical, Thermodynamics, and Thermostatic), By Application (Tracing, Drip and Process), By Regional Outlook and Forecast, 2023 - 2030

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    Report

  • 427 Pages
  • September 2023
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5903750
The Global Steam Trap Market size is expected to reach $4.4 billion by 2030, rising at a market growth of 3.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 12,839.7 thousand Units experiencing a growth of 4.0% (2019-2022).

Increasing developments and investments in the energy & power segment contribute to market demand. Hence, Energy & Power segment acquired $354.5 million revenue in the market in 2022. Global industrial expansion and urbanization have led to a rapid increase in energy consumption. Thus, the development of intrastate transmission and sub-transmission networks has increased in response to the growing demand for power. Due to rising household incomes, expanding manufacturing, and growing heavy industries, there will be a rise in demand for energy and power. Using renewable energy is essential for ensuring access to electricity, which will lead to the need for steam traps. Some of the factors impacting the market are increasing requirement for energy-efficient steam systems, measures to reduce carbon emissions and accelerate industrialization, and lack of awareness of the benefits of steam trap systems.



The demand for energy-efficient steam systems increases as businesses seek to reduce their energy expenses. Steam traps play a crucial role in attaining this goal by preventing the wasteful loss of live steam and minimizing the risk of water hammer. Live steam, a valuable resource generated by boilers for powering equipment and heating processes, is of utmost significance to businesses, compelling them to maximize its utilization. Moreover, as industrialization has spread worldwide, so has the demand for energy-efficient steam traps. As more industries emerge and existing ones develop, the need for traps that reduce energy consumption and operating expenses has increased. Greater efficiency and less energy loss are the features of energy-efficient traps, which result in substantial cost savings throughout the traps. As these nations continue to grow and industrialize, there is a growing energy demand, primarily in the manufacturing, power generation, and petrochemical industries.

However, Lack of awareness is a significant obstacle for the steam trap market, primarily because many companies are unaware of the benefits of steam traps. They require extensive knowledge of the proper selection and installation process. This may cause businesses to make improper purchasing decisions, acquire unsuitable steam traps, or install them inadequately. Steam traps are less popular than energy-saving solutions like insulation or variable-speed drives. This lack of visibility contributes to a limited comprehension of steam traps' benefits and potential impact on energy efficiency.



The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.

Industry Outlook

On the basis of industry, the market classified into chemicals, energy & power, food & beverages, oil & gas, pharmaceuticals, and others. The food and beverages segment acquired a substantial revenue share in the market in 2022. The need for steam traps in the food and beverage segment is driven by the need to improve product quality and adapt to changes in customer preferences. Thermal energy and steam are the most crucial food and beverage processing resources. Utilizing steam accurately is essential as distribution system losses negatively impact production costs and sustainability.

Product Outlook

On the basis of product, the market is segmented into mechanical, thermodynamics, and thermostatic. In 2022, the mechanical segment dominated the market with the maximum revenue share. Mechanical steam traps are a form of steam trap that relies on mechanical principles rather than external energy sources or complex control systems for operation. They are used in many industrial applications because of their popularity for dependability, simplicity, and robustness. Furthermore, compared to more complicated traps that might require additional infrastructure or control systems, these traps are usually simpler to install. They may be the better choice for retrofitting or upgrading existing systems due to their ease of installation.

Application Outlook

Based on application, the market is fragmented into tracing, drip, and process. The process segment recorded a remarkable revenue share in the market in 2022. Due to its effectiveness at eliminating condensate and non-condensable gases from steam distribution lines, it ensures that only dry steam is delivered to processes or devices. Environmentally aware industries concentrate on efficiently delivering dry steam to expand system performance and decrease energy losses. These are essential for removing condensate and pollutants from steam, ensuring that the steam utilized in various processes satisfies the necessary criteria for quality and purity.

Body Material Outlook

By body material, the market is categorised into steel, iron, and others. In 2022, the steel segment held the highest revenue share in the steel trap market. Steel is tough and durable, making it a perfect choice for steam traps that endure high temperatures and pressures without breaking. The steam traps last longer and require less maintenance because they are also good at preventing rust and other damage. Maintaining high hygiene standards is essential in the food, beverage, and pharmaceutical industries. Steel has a non-porous surface that is simple to clean and sterilize, fulfilling strict regulatory requirements and protecting product purity. It is particularly crucial in steam trap applications where contamination must be avoided through cleaning.

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region witnessed the largest revenue share in the market. Diverse industries, such as manufacturing, petrochemicals, and power generation, rely significantly on steam-based processes. As the economies of this region continue to expand, the demand for steam systems that are both efficient and sustainable will increase, creating a significant market. As new manufacturing facilities develop and existing ones undergo modernization, the demand for advanced steam trap technologies to enhance energy efficiency, reduce operational costs, and meet strict environmental standards is rising.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Spirax Sarco Engineering plc, Emerson Electric Co., Schlumberger N.V., Thermax Limited, Velan, Inc., Forbes Marshall Pvt. Ltd, Xylem, Inc., Armstrong International, Inc., TLV Co., Ltd, Watts Water Technologies, Inc.

Scope of the Study

Market Segments Covered in the Report:

By Industry (Volume, Thousand Units, USD Million, 2019-2030)
  • Oil & Gas
  • Food & Beverages
  • Chemicals
  • Energy & Power
  • Pharmaceuticals
  • Others
By Product (Volume, Thousand Units, USD Million, 2019-2030)
  • Mechanical
  • Thermodynamics
  • Thermostatic
By Application (Volume, Thousand Units, USD Million, 2019-2030)
  • Tracing
  • Drip
  • Process
By Body Material (Volume, Thousand Units, USD Million, 2019-2030)
  • Steel
  • Iron
  • Others
By Geography (Volume, Thousand Units, USD Million, 2019-2030)
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Spirax Sarco Engineering plc
  • Emerson Electric Co.
  • Schlumberger N.V.
  • Thermax Limited
  • Velan, Inc.
  • Forbes Marshall Pvt. Ltd
  • Xylem, Inc.
  • Armstrong International, Inc.
  • TLV Co., Ltd
  • Watts Water Technologies, Inc.

Unique Offerings

  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Steam Trap Market, by Industry
1.4.2 Global Steam Trap Market, by Product
1.4.3 Global Steam Trap Market, by Application
1.4.4 Global Steam Trap Market, by Body Material
1.4.5 Global Steam Trap Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
4.1 Market Share Analysis, 2022
4.2 Porter’s Five Forces Analysis
Chapter 5. Global Steam Trap Market by Industry
5.1 Global Oil & Gas Market by Region
5.2 Global Food & Beverages Market by Region
5.3 Global Chemicals Market by Region
5.4 Global Energy & Power Market by Region
5.5 Global Pharmaceuticals Market by Region
5.6 Global Others Market by Region
Chapter 6. Global Steam Trap Market by Product
6.1 Global Mechanical Market by Region
6.2 Global Thermodynamics Market by Region
6.3 Global Thermostatic Market by Region
Chapter 7. Global Steam Trap Market by Application
7.1 Global Tracing Market by Region
7.2 Global Drip Market by Region
7.3 Global Process Market by Region
Chapter 8. Global Steam Trap Market by Body Material
8.1 Global Steel Market by Region
8.2 Global Iron Market by Region
8.3 Global Others Market by Region
Chapter 9. Global Steam Trap Market by Region
9.1 North America Steam Trap Market
9.1.1 North America Steam Trap Market by Industry
9.1.1.1 North America Oil & Gas Market by Country
9.1.1.2 North America Food & Beverages Market by Country
9.1.1.3 North America Chemicals Market by Country
9.1.1.4 North America Energy & Power Market by Country
9.1.1.5 North America Pharmaceuticals Market by Country
9.1.1.6 North America Others Market by Country
9.1.2 North America Steam Trap Market by Product
9.1.2.1 North America Mechanical Market by Country
9.1.2.2 North America Thermodynamics Market by Country
9.1.2.3 North America Thermostatic Market by Country
9.1.3 North America Steam Trap Market by Application
9.1.3.1 North America Tracing Market by Country
9.1.3.2 North America Drip Market by Country
9.1.3.3 North America Process Market by Country
9.1.4 North America Steam Trap Market by Body Material
9.1.4.1 North America Steel Market by Country
9.1.4.2 North America Iron Market by Country
9.1.4.3 North America Others Market by Country
9.1.5 North America Steam Trap Market by Country
9.1.5.1 US Steam Trap Market
9.1.5.1.1 US Steam Trap Market by Industry
9.1.5.1.2 US Steam Trap Market by Product
9.1.5.1.3 US Steam Trap Market by Application
9.1.5.1.4 US Steam Trap Market by Body Material
9.1.5.2 Canada Steam Trap Market
9.1.5.2.1 Canada Steam Trap Market by Industry
9.1.5.2.2 Canada Steam Trap Market by Product
9.1.5.2.3 Canada Steam Trap Market by Application
9.1.5.2.4 Canada Steam Trap Market by Body Material
9.1.5.3 Mexico Steam Trap Market
9.1.5.3.1 Mexico Steam Trap Market by Industry
9.1.5.3.2 Mexico Steam Trap Market by Product
9.1.5.3.3 Mexico Steam Trap Market by Application
9.1.5.3.4 Mexico Steam Trap Market by Body Material
9.1.5.4 Rest of North America Steam Trap Market
9.1.5.4.1 Rest of North America Steam Trap Market by Industry
9.1.5.4.2 Rest of North America Steam Trap Market by Product
9.1.5.4.3 Rest of North America Steam Trap Market by Application
9.1.5.4.4 Rest of North America Steam Trap Market by Body Material
9.2 Europe Steam Trap Market
9.2.1 Europe Steam Trap Market by Industry
9.2.1.1 Europe Oil & Gas Market by Country
9.2.1.2 Europe Food & Beverages Market by Country
9.2.1.3 Europe Chemicals Market by Country
9.2.1.4 Europe Energy & Power Market by Country
9.2.1.5 Europe Pharmaceuticals Market by Country
9.2.1.6 Europe Others Market by Country
9.2.2 Europe Steam Trap Market by Product
9.2.2.1 Europe Mechanical Market by Country
9.2.2.2 Europe Thermodynamics Market by Country
9.2.2.3 Europe Thermostatic Market by Country
9.2.3 Europe Steam Trap Market by Application
9.2.3.1 Europe Tracing Market by Country
9.2.3.2 Europe Drip Market by Country
9.2.3.3 Europe Process Market by Country
9.2.4 Europe Steam Trap Market by Body Material
9.2.4.1 Europe Steel Market by Country
9.2.4.2 Europe Iron Market by Country
9.2.4.3 Europe Others Market by Country
9.2.5 Europe Steam Trap Market by Country
9.2.5.1 Germany Steam Trap Market
9.2.5.1.1 Germany Steam Trap Market by Industry
9.2.5.1.2 Germany Steam Trap Market by Product
9.2.5.1.3 Germany Steam Trap Market by Application
9.2.5.1.4 Germany Steam Trap Market by Body Material
9.2.5.2 UK Steam Trap Market
9.2.5.2.1 UK Steam Trap Market by Industry
9.2.5.2.2 UK Steam Trap Market by Product
9.2.5.2.3 UK Steam Trap Market by Application
9.2.5.2.4 UK Steam Trap Market by Body Material
9.2.5.3 France Steam Trap Market
9.2.5.3.1 France Steam Trap Market by Industry
9.2.5.3.2 France Steam Trap Market by Product
9.2.5.3.3 France Steam Trap Market by Application
9.2.5.3.4 France Steam Trap Market by Body Material
9.2.5.4 Russia Steam Trap Market
9.2.5.4.1 Russia Steam Trap Market by Industry
9.2.5.4.2 Russia Steam Trap Market by Product
9.2.5.4.3 Russia Steam Trap Market by Application
9.2.5.4.4 Russia Steam Trap Market by Body Material
9.2.5.5 Spain Steam Trap Market
9.2.5.5.1 Spain Steam Trap Market by Industry
9.2.5.5.2 Spain Steam Trap Market by Product
9.2.5.5.3 Spain Steam Trap Market by Application
9.2.5.5.4 Spain Steam Trap Market by Body Material
9.2.5.6 Italy Steam Trap Market
9.2.5.6.1 Italy Steam Trap Market by Industry
9.2.5.6.2 Italy Steam Trap Market by Product
9.2.5.6.3 Italy Steam Trap Market by Application
9.2.5.6.4 Italy Steam Trap Market by Body Material
9.2.5.7 Rest of Europe Steam Trap Market
9.2.5.7.1 Rest of Europe Steam Trap Market by Industry
9.2.5.7.2 Rest of Europe Steam Trap Market by Product
9.2.5.7.3 Rest of Europe Steam Trap Market by Application
9.2.5.7.4 Rest of Europe Steam Trap Market by Body Material
9.3 Asia Pacific Steam Trap Market
9.3.1 Asia Pacific Steam Trap Market by Industry
9.3.1.1 Asia Pacific Oil & Gas Market by Country
9.3.1.2 Asia Pacific Food & Beverages Market by Country
9.3.1.3 Asia Pacific Chemicals Market by Country
9.3.1.4 Asia Pacific Energy & Power Market by Country
9.3.1.5 Asia Pacific Pharmaceuticals Market by Country
9.3.1.6 Asia Pacific Others Market by Country
9.3.2 Asia Pacific Steam Trap Market by Product
9.3.2.1 Asia Pacific Mechanical Market by Country
9.3.2.2 Asia Pacific Thermodynamics Market by Country
9.3.2.3 Asia Pacific Thermostatic Market by Country
9.3.3 Asia Pacific Steam Trap Market by Application
9.3.3.1 Asia Pacific Tracing Market by Country
9.3.3.2 Asia Pacific Drip Market by Country
9.3.3.3 Asia Pacific Process Market by Country
9.3.4 Asia Pacific Steam Trap Market by Body Material
9.3.4.1 Asia Pacific Steel Market by Country
9.3.4.2 Asia Pacific Iron Market by Country
9.3.4.3 Asia Pacific Others Market by Country
9.3.5 Asia Pacific Steam Trap Market by Country
9.3.5.1 China Steam Trap Market
9.3.5.1.1 China Steam Trap Market by Industry
9.3.5.1.2 China Steam Trap Market by Product
9.3.5.1.3 China Steam Trap Market by Application
9.3.5.1.4 China Steam Trap Market by Body Material
9.3.5.2 Japan Steam Trap Market
9.3.5.2.1 Japan Steam Trap Market by Industry
9.3.5.2.2 Japan Steam Trap Market by Product
9.3.5.2.3 Japan Steam Trap Market by Application
9.3.5.2.4 Japan Steam Trap Market by Body Material
9.3.5.3 India Steam Trap Market
9.3.5.3.1 India Steam Trap Market by Industry
9.3.5.3.2 India Steam Trap Market by Product
9.3.5.3.3 India Steam Trap Market by Application
9.3.5.3.4 India Steam Trap Market by Body Material
9.3.5.4 South Korea Steam Trap Market
9.3.5.4.1 South Korea Steam Trap Market by Industry
9.3.5.4.2 South Korea Steam Trap Market by Product
9.3.5.4.3 South Korea Steam Trap Market by Application
9.3.5.4.4 South Korea Steam Trap Market by Body Material
9.3.5.5 Singapore Steam Trap Market
9.3.5.5.1 Singapore Steam Trap Market by Industry
9.3.5.5.2 Singapore Steam Trap Market by Product
9.3.5.5.3 Singapore Steam Trap Market by Application
9.3.5.5.4 Singapore Steam Trap Market by Body Material
9.3.5.6 Malaysia Steam Trap Market
9.3.5.6.1 Malaysia Steam Trap Market by Industry
9.3.5.6.2 Malaysia Steam Trap Market by Product
9.3.5.6.3 Malaysia Steam Trap Market by Application
9.3.5.6.4 Malaysia Steam Trap Market by Body Material
9.3.5.7 Rest of Asia Pacific Steam Trap Market
9.3.5.7.1 Rest of Asia Pacific Steam Trap Market by Industry
9.3.5.7.2 Rest of Asia Pacific Steam Trap Market by Product
9.3.5.7.3 Rest of Asia Pacific Steam Trap Market by Application
9.3.5.7.4 Rest of Asia Pacific Steam Trap Market by Body Material
9.4 LAMEA Steam Trap Market
9.4.1 LAMEA Steam Trap Market by Industry
9.4.1.1 LAMEA Oil & Gas Market by Country
9.4.1.2 LAMEA Food & Beverages Market by Country
9.4.1.3 LAMEA Chemicals Market by Country
9.4.1.4 LAMEA Energy & Power Market by Country
9.4.1.5 LAMEA Pharmaceuticals Market by Country
9.4.1.6 LAMEA Others Market by Country
9.4.2 LAMEA Steam Trap Market by Product
9.4.2.1 LAMEA Mechanical Market by Country
9.4.2.2 LAMEA Thermodynamics Market by Country
9.4.2.3 LAMEA Thermostatic Market by Country
9.4.3 LAMEA Steam Trap Market by Application
9.4.3.1 LAMEA Tracing Market by Country
9.4.3.2 LAMEA Drip Market by Country
9.4.3.3 LAMEA Process Market by Country
9.4.4 LAMEA Steam Trap Market by Body Material
9.4.4.1 LAMEA Steel Market by Country
9.4.4.2 LAMEA Iron Market by Country
9.4.4.3 LAMEA Others Market by Country
9.4.5 LAMEA Steam Trap Market by Country
9.4.5.1 Brazil Steam Trap Market
9.4.5.1.1 Brazil Steam Trap Market by Industry
9.4.5.1.2 Brazil Steam Trap Market by Product
9.4.5.1.3 Brazil Steam Trap Market by Application
9.4.5.1.4 Brazil Steam Trap Market by Body Material
9.4.5.2 Argentina Steam Trap Market
9.4.5.2.1 Argentina Steam Trap Market by Industry
9.4.5.2.2 Argentina Steam Trap Market by Product
9.4.5.2.3 Argentina Steam Trap Market by Application
9.4.5.2.4 Argentina Steam Trap Market by Body Material
9.4.5.3 UAE Steam Trap Market
9.4.5.3.1 UAE Steam Trap Market by Industry
9.4.5.3.2 UAE Steam Trap Market by Product
9.4.5.3.3 UAE Steam Trap Market by Application
9.4.5.3.4 UAE Steam Trap Market by Body Material
9.4.5.4 Saudi Arabia Steam Trap Market
9.4.5.4.1 Saudi Arabia Steam Trap Market by Industry
9.4.5.4.2 Saudi Arabia Steam Trap Market by Product
9.4.5.4.3 Saudi Arabia Steam Trap Market by Application
9.4.5.4.4 Saudi Arabia Steam Trap Market by Body Material
9.4.5.5 South Africa Steam Trap Market
9.4.5.5.1 South Africa Steam Trap Market by Industry
9.4.5.5.2 South Africa Steam Trap Market by Product
9.4.5.5.3 South Africa Steam Trap Market by Application
9.4.5.5.4 South Africa Steam Trap Market by Body Material
9.4.5.6 Nigeria Steam Trap Market
9.4.5.6.1 Nigeria Steam Trap Market by Industry
9.4.5.6.2 Nigeria Steam Trap Market by Product
9.4.5.6.3 Nigeria Steam Trap Market by Application
9.4.5.6.4 Nigeria Steam Trap Market by Body Material
9.4.5.7 Rest of LAMEA Steam Trap Market
9.4.5.7.1 Rest of LAMEA Steam Trap Market by Industry
9.4.5.7.2 Rest of LAMEA Steam Trap Market by Product
9.4.5.7.3 Rest of LAMEA Steam Trap Market by Application
9.4.5.7.4 Rest of LAMEA Steam Trap Market by Body Material
Chapter 10. Company Profiles
10.1 Spirax Sarco Engineering plc
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.5.2 Acquisition and Mergers:
10.1.6 SWOT Analysis
10.2 Emerson Electric Co.
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expense
10.2.5 Recent strategies and developments:
10.2.5.1 Acquisition and Mergers:
10.2.6 SWOT Analysis
10.3 Schlumberger N.V.
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expense
10.3.5 SWOT Analysis
10.4 Thermax Limited
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expenses
10.4.5 SWOT Analysis
10.5 Velan, Inc.
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Regional Analysis
10.5.4 Research & Development Expense
10.5.5 SWOT Analysis
10.6 Forbes Marshall Pvt. Ltd
10.6.1 Company Overview
10.6.2 SWOT Analysis
10.7 Xylem, Inc.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 Research & Development Expense
10.7.5 SWOT Analysis
10.8 Armstrong International, Inc.
10.8.1 Company Overview
10.8.2 SWOT Analysis
10.9 TLV CO., LTD.
10.9.1 Company Overview
10.9.2 SWOT Analysis
10.10. Watts Water Technologies, Inc.
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Regional Analysis
10.10.4 Research & Development Expense
10.10.5 SWOT Analysis
Chapter 11. Winning Imperative for Steam Trap Market

Companies Mentioned

  • Spirax Sarco Engineering plc
  • Emerson Electric Co.
  • Schlumberger N.V.
  • Thermax Limited
  • Velan, Inc.
  • Forbes Marshall Pvt. Ltd
  • Xylem, Inc.
  • Armstrong International, Inc.
  • TLV Co., Ltd
  • Watts Water Technologies, Inc.

Methodology

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