Steam Trap Market Report 2026

The steam trap market size has grown strongly in recent years. It will grow from $4.36 billion in 2025 to $4.63 billion in 2026 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to industrial steam usage growth, expansion of chemical processing, power generation development, refinery capacity growth, manufacturing process optimization.

The steam trap market size is expected to see strong growth in the next few years. It will grow to $5.81 billion in 2030 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to energy efficiency regulations, demand for reduced steam losses, modernization of industrial plants, growth in pharmaceutical production, sustainability initiatives. Major trends in the forecast period include focus on energy efficient steam systems, replacement of aging industrial steam infrastructure, demand for reliable condensate management, expansion of process industry applications, preference for durable industrial components.

Increasing industrialization is expected to drive the growth of the steam trap market going forward. Industrialization refers to the transformation of a country or region from an agriculture-based economy to one centered on manufacturing and industry. This trend is driven by mass production, as populations demand more affordable goods, prompting countries to adopt machines and factories for efficient large-scale manufacturing. Steam traps support industrialization by managing steam systems efficiently, ensuring optimal heat transfer and consistent production, which enables factories to achieve mass production at lower costs. For example, in January 2024, the Ministry of Industry and Information Technology, a China-based government organization, reported that by the end of November 2023, the number of large industrial enterprises had reached 483,000, an increase of 32,000 compared with the end of 2022. In 2023, the total value-added industrial output grew by 4.6% year-on-year, marking a one-percentage-point improvement over 2022. Therefore, increasing industrialization is fueling the growth of the steam trap market.

Leading companies in the steam trap market are focusing on technological advancements such as smart maintenance solutions to boost energy efficiency, reduce maintenance expenses, and prevent steam system failures. Smart maintenance solutions involve advanced technology-driven methods to monitor, predict, and optimize equipment upkeep, minimizing downtime and costs. For instance, in April 2023, Henkel AG & Co. KGaA, a Germany-based chemicals company, introduced Loctite Pulse Smart Steam Trap - an IoT-enabled digital monitoring system for industrial steam systems. It features real-time condition monitoring, predictive maintenance alerts, and precise steam loss detection to improve energy efficiency. Using IoT sensors, it continuously tracks performance and sends instant alerts on blockages, leaks, and operational irregularities, helping avoid unplanned downtime. The device integrates seamlessly with existing systems, allowing maintenance teams to access actionable insights via a centralized dashboard, optimize steam trap performance, extend equipment lifespan, and reduce energy costs.

In May 2025, AbbVie Inc., a US-based biopharmaceutical company, partnered with Emerson Electric Co. to deploy wireless steam trap monitoring solutions at its manufacturing and R&D facilities. This collaboration aims to boost energy efficiency, enhance product quality, and improve reliability in AbbVie’s steam systems by utilizing Emerson’s Plantweb digital ecosystem and wireless acoustic transmitters to detect steam leaks and optimize maintenance. Emerson Electric Co. is a US-based manufacturer of steam traps.

Major companies operating in the steam trap market are Spirax-Sarco Engineering plc, Emerson Electric Co., Flowserve Corporation, Armstrong International, Inc., Forbes Marshall Private Limited, Thermax Limited, TLV Co., Ltd., Velan Inc., Watts Water Technologies, Inc., Circor International, Inc., Pentair plc, Schlumberger Limited, Xylem Inc., Watson-McDaniel Company, Bestobell Steam Traps Ltd., Uni Klinger Limited, Hawa Engineers Limited, Marck & Care Engineers Limited, Delta Steam Systems, Thermal Energy International Inc.

North America was the largest region in the steam trap market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the steam trap market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the steam trap market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The steam trap market consists of sales of inverted bucket steam traps, bimetallic steam traps, disc steam traps, bellows-type steam traps, and float steam traps. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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