Steam Trap Market Size, Share & Analysis

Report Code SE 5172
Published in Oct, 2024, By MarketsandMarkets™
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Steam Trap Market by Mechanical (Ball Float, Inverted Bucket), Thermodynamic, Thermostatic (Balanced Pressure, Bimetallic, Liquid Expansion, Bellowed), Steel, Iron, Tracing, Drip, Process, Screwed, Flanged, Swivel, Oil & Gas - Global Forecast to 2029

Steam Trap Market Size, Share & Growth

The global steam trap market size is projected to grow from USD 4.57 billion in 2024 to USD 5.57 billion in 2029, recording a CAGR of 4.1% during the forecast period. The growth of the steam trap market is mainly driven by the increasing demand for energy-efficient steam systems. Steam traps automatically release condensate and non-condensable gases from steam systems. Thus, they prevent the loss of live steam. Therefore, steam traps increase the efficiency of the steam systems and decreases the energy usage. Moreover, the inclusion of the sensors along with Al, the steam trap enables timely maintenance and streamlined operations by minimizing human interference to achieve optimal system results.

Attractive Opportunities in the Steam Trap Market

ASIA PACIFIC

The market growth in Asia Pacific is driven by the rising demand for energy-efficient systems in countries such as Japan, India, and China, coupled with the need for regulatory compliance.

Technological advancements, such as the integration of IoT technologies with steam traps, enable remote monitoring and control, driving the steam trap market.

As the region shifts toward cleaner energy sources, there is a rising demand for efficient steam management.

Steam traps play a vital role in reducing energy loss in steam systems, making them essential for industries aiming to enhance energy efficiency and reduce operational costs.

With Asia Pacific being a major global manufacturing hub, the growth of the manufacturing sector has intensified the need for efficient steam management systems.

Impact of AI/Generative AI on Steam Trap Market

AI-powered steam traps would offer an advantage in increasing system efficiency and reliability. They predict any problem even before the failure, reducing downtime and associated costs. Continuous monitoring can be set up to assess its performance in real time, ensuring optimal behavior and the detection of any anomaly at once. Energy savings can also occur because of the accurate control of the flow of steam, which ensures that no unnecessary energy consumption takes place. In addition, AI-powered steam traps also reduce the emission of CO2 since they enhance energy efficiency and eliminate leaks in the steam.

Steam Trap Market Trends & Dynamics

DRIVER: : Growing demand for energy-efficient steam systems

There has been a growing need for energy-efficient steam systems that reduce energy costs. Steam traps are important here as they do not allow live steam to escape and further reduce the dangers of water hammer. Live steam is used by boilers to drive equipment and healing processes, and businesses would want it best utilized. The major key elements of the steam trap are that these automatically remove condensate and non-condensable gases from steam systems, which prevents live steam loss. This means automation eliminates a great deal in steam systems, enhancing efficiency and reducing overall energy consumption. In addition to saving live steam, the function of a steam trap is basically ensuring that a steam system is safe. Condensate or non-condensable gases are drained and removed promptly without any manual effort, saving the system from getting pressurized and thus preventing it from malfunctioning or even exploding. Businesses are likely to increase investment in energy-saving measures and improved system safety, fuelling steady growth in the steam trap demand. For an organization seeking efficient energy usage, improved safety measures, and increased operational efficiency, upgrading energy-efficient steam systems and quality steam traps has become strategically important.

RESTRAINT: Need for substantial recurring and operational expenses

Steam traps are typical for steam systems and are characterized by certain costs involved in their proper functioning, namely maintenance and inspection costs. Steam traps must be checked routinely to ensure they operate properly, as their ability to function properly is important for the success of the steam system. Preventive objectives are essential, and as part of usual and ongoing tasks, strategies may include cleaning, inspecting, and repairing. This generic failure of steam traps includes clogging of the traps, leakage, or total failure of the traps, which can greatly influence the performance of the steam system and bring about high levels of operation costs. For instance, a blocked steam trap will not allow condensate to be released, putting pressure on the steam and increasing its power demand and, therefore, its efficiency. Hence, while setting up monitoring and maintenance will go ahead to discover and correct faulty traps, companies need to consider that this process is costly. Many companies seek cost-effective steam trap performance evaluation solutions and invest in monitoring and diagnostic tools. These tools assist in the early identification of the problem, but they need constant maintenance to get the desired results.

 

OPPORTUNITY: Integration of steam traps with IoT sensors

IoT Sensor technology is revolutionizing steam traps, offering many growth opportunities in terms of efficiency, reliability, and safety. IoT sensors enable the allowance of real-time monitoring of steam traps, which can be monitored in real-time to know their true performance. It is proactive, and issues can be quickly identified while they are easy to fix, which prevents the failure of steam traps, allowing uncontrolled live steam to burst, which might potentially hurt and cause costly downtime. Further recovery of data from IoT sensors gives much insight into the performance of steam traps. Businesses can customize and then optimize their design of steam traps according to the specific needs of their businesses. Cost savings from using IoT sensor technology also accrue aside from savings on safety and efficiency improvements. This decreases operational costs for the company since it saves on costs incurred with repair and downtime caused by failed steam traps. Moreover, data-driven optimization of steam systems saves energy and operational costs and is environmentally sustainable. IoT sensors possess early detection ability to steam trap failures, thus enhancing safety as they will prevent accidents or cases of injury, protecting workers and likely liability.

CHALLENGES: Lack of awareness about benefits of steam trap systems

The lack of awareness is a significant obstacle for the steam trap market mainly because most organizations are not aware of the advantages that can be gained by applying steam traps and do not understand how to select or install such equipment properly. This can result in businesses making incorrect purchasing decisions, acquiring unsuitable steam traps, or improperly installing them.

In addition, the knowledge of steam trap stealthiness is not as well-known as other energy efficiency systems, such as insulation or variable speed drives. This stealth gives poor knowledge about what benefits the steam traps and what they can do to improve energy efficiency. Additionally, unawareness of systems leads to low knowledge about maintaining and operating them properly. This knowledge gap often results in industries operating inefficient steam systems with unnoticed energy losses and escalating utility expenses. Steam traps must be periodically inspected, maintained, and diagnosed if necessary for improved steam trap functioning. Some business organizations may not have such requirements and fail to maintain the equipment, leaving steam traps inefficient or dead. Poorly performing steam traps might leak live steam, thus contributing to increased energy expenses and greenhouse gas emissions to worsen environmental challenges.

Steam Trap Market Ecosystem Analysis

Major companies offering the steam trap market include Spirax Group plc (UK), Emerson Electric Co. (US), Thermax Limited (India), SLB(US), Velan Inc (Canada), Watts (US), Armstrong International Inc. (US), TLV CO., LTD. (Japan), Forbes Marshall (India), Xylem (US). The steam trap ecosystem comprises of steam trap manufacturers, steam trap distributors, and end use industries.

 

By application, the tracing application segment is expected to grow at the highest CAGR during the forecast period.

The tracing application segment of the steam trap market is expected to witness the highest growth rate during the forecast period. Several driving factors propel the segmental growth, mainly due to the increasing demand for efficient and reliable heating systems in industries such as oil & gas, food & beverages, and pharmaceuticals. Such industries require precise temperature control in processes such as steam tracing, where the steam traps should achieve ideal temperatures and ensure no heat is lost. Organizations' cost-effectiveness and environmental consciousness have also driven them to invest in more energy-efficient solutions of steam traps for optimizing energy use and reducing operational costs. Technological advances, like smart steam traps equipped with built-in monitoring capabilities, also make tracing applications more effective because they allow real-time data delivery and predictive maintenance. It is changing the tides of automation and improving performance in steam systems; hence, there is increased adoption of tracing applications. These traces are now the most pivotal elements used to sustain efficiency in the process. The increasing concern of industries over reducing downtime and improving productivity will see demand for effective steam trapping solutions in tracing applications continue the trend.

By end use industry, the food & beverages segment is expected to have the highest CAGR during forecast period.

The food & beverages segment is expected to record the highest CAGR during the forecasted period for the market of steam traps due to many key factors. The most significant factor is the growing need for processed and packaged foods, which creates a requirement for efficient steam systems for different applications such as cooking, sterilization, and cleaning. Important roles also abound with steam traps in optimizing steam pressure and preventing energy loss. Besides, hygienic or sanitary requirements with modern food standards as well make the necessity of reliable steam systems go hand in glove with hygiene and product quality; therefore, when manufacturers in this industry adopt advanced manufacturing practices or upgrade to state-of-the-art equipment, integration of steam traps becomes imperative to optimize performance and reduce costs of operations. Other environmental and energy concerns that are going up in the food & beverages industry require manufacturers to find solutions that ensure minimal waste and further consumption of energy.

In 2029, Asia Pacific is Projected to Record the Highest Market Share in the Steam Trap Market.

The Asia Pacific region is likely to account for the major share in the steam trap market during 2029 due to several factors. Concern over energy usage that wastes less energy and can be used efficiently is one of the main drivers for companies' adoption of more advanced steam trap technologies, thereby fuelling the market's growth. For instance, China's commitment to reducing carbon emissions, with targets to peak emissions by 2030 and reach carbon neutrality by 2060, is a major driver for adopting energy-efficient solutions like steam traps. Government initiatives, such as the "Made in China 2025" strategy, encourage the modernization of manufacturing processes and improved energy management, further boosting the steam trap market.  Moreover, the expansion of the industries in the end-user leads to specific management requirements for temperature and pressure levels, and it enforces the requirements for steam traps' inefficient operations. Overall, heightened consumption of energy and infrastructure requirements in the region also leads to urbanization and population. It would further increase the requirement for efficient steam management since Asia Pacific is a global manufacturing hub. In this regard, the demand for innovative, highly efficient, and advanced steam traps is likely to gain momentum with escalating technological integration.

HIGHEST CAGR MARKET IN 2024
INDIA FASTEST-GROWING MARKET IN THE REGION

Recent Developments of Steam Trap Market

  • In January 2024, Watts (US) completed the acquisition of Josam (US), a prominent manufacturer and provider of drainage and plumbing products. Josam offers a comprehensive portfolio of high-quality, customized products for various commercial, industrial, and multi-family markets.
  • In August 2023, Emerson Electric Co. (US) entered a definitive agreement to acquire FLEXIM, a global leader in clamp-on ultrasonic flow measurement for liquids, gases, and steam. This agreement enhanced Emerson's current foothold in flow measurement sectors. This move also broadened its automation solution offerings and bolstered its capacity for precise measurements.
  • In May 2023, Xylem Inc. (US) acquired Evoqua Water Technologies LLC (US), a leading water and wastewater treatment solution provider. This deal established the most advanced platform of capabilities globally, addressing the critical water challenges customers and communities face.
  • In September 2022, TLV CO., LTD. (Japan), a specialist in steam technology, introduced the FJ32 series of free-float steam traps. These steam traps are designed for various process applications, including jacketed pans, heat exchangers, and vulcanizers.
  • In January 2022, Spirax Group plc (UK) acquired Cotopaxi Ltd. (UK), an energy consulting firm. The company successfully integrated Cotopaxi Ltd. into its Steam Specialties business, which caters to industrial steam clients. With Cotopaxi's digital expertise in steam installations, the company has advanced its goal of connecting with customers' steam systems and analyzing system data to enhance operational insights and efficiency.

Key Market Players

Top Companies Steam Trap Market - Key Market Players

Scope of the Steam Trap Market

Report Attribute Details
Market size available for years 2020–2029
Forecast units Value (USD Million/Billion)
Segments Covered By product type, connection, body material, pressure, size, application, end use industry, and region
Geographies covered North America, Europe, Asia Pacific, and RoW

Key Questions Addressed by the Report

Which are the major companies in the steam trap market?
The major players in the steam trap market include Spirax Group plc (UK), Emerson Electric Co. (US), Thermax Limited (India), SLB (US), Velan Inc. (Canada), Watts (US), Armstrong International Inc. (US), TLV CO., LTD. (Japan), Forbes Marshall (India), Xylem (US).
Which steam trap type is likely to secure the largest market share during the forecast period?
The thermodynamic steam trap segment is expected to dominate the market during the forecast period, which can be attributed to their durability, simplicity, versatility, and ability to handle varying pressure and steam conditions efficiently.
What is the current size of the global steam trap market?
The global steam trap market is estimated to be around USD 4.57 billion in 2024 and is projected to reach USD 5.57 billion by 2029 at a CAGR of 4.1%.
What are the drivers and opportunities for the steam trap market?
The rising demand for energy-efficient steam systems and increasing integration of automation in steam systems is likely to drive the market. Further, integration of steam traps with IoT sensors will pose significant opportunities in the steam trap market.
What are the restraints and challenges for the steam trap market?
The need for substantial recurring and operational expenses and lack of awareness about benefits of steam trap systems are the restraints and challenges in the steam trap market.

 

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Table of Contents

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TITLE
PAGE NO
INTRODUCTION
24
RESEARCH METHODOLOGY
29
EXECUTIVE SUMMARY
40
PREMIUM INSIGHTS
44
MARKET OVERVIEW
49
  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    DRIVERS
    - Growing demand for energy-efficient steam systems
    - Shift toward automation
    - Need to comply with environmental regulations
    RESTRAINTS
    - High costs associated with maintenance and inspection
    OPPORTUNITIES
    - Rapid industrialization and expanding manufacturing sectors in developing countries
    - Integration of steam traps with IoT sensors
    CHALLENGES
    - Lack of awareness about benefits of steam trap systems
  • 5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
  • 5.4 PRICING ANALYSIS
    AVERAGE SELLING PRICE TREND OF STEAM TRAPS OFFERED BY KEY PLAYERS, BY PRODUCT TYPE, 2021–2023 (USD)
    AVERAGE SELLING PRICE TREND OF STEAM TRAPS, 2019–2023
    AVERAGE SELLING PRICE TREND OF STEAM TRAPS, BY REGION, 2019–2023
  • 5.5 VALUE CHAIN ANALYSIS
  • 5.6 ECOSYSTEM ANALYSIS
  • 5.7 INVESTMENT AND FUNDING SCENARIO
  • 5.8 IMPACT OF AI/GENERATIVE AI ON STEAM TRAP MARKET
    INTRODUCTION
  • 5.9 TECHNOLOGY ANALYSIS
    KEY TECHNOLOGIES
    - Remote monitoring
    - IoT
    COMPLIMENTARY TECHNOLOGIES
    - Energy management systems
    ADJACENT TECHNOLOGIES
    - Ultrasonic testing
  • 5.10 PATENT ANALYSIS
  • 5.11 TRADE ANALYSIS
    IMPORT DATA (HS CODE 8481)
    EXPORT DATA (HS CODE 8481)
  • 5.12 KEY CONFERENCES AND EVENTS, 2024–2026
  • 5.13 CASE STUDY ANALYSIS
    SPIRAX GROUP OFFERED TRAPTEST VKP TO BASF THAT RESULTED IN SIGNIFICANT COST SAVINGS
    UNIVERSITY OF NOTRE DAM COLLABORATED WITH ARMSTRONG INTERNATIONAL TO IMPLEMENT STEAM TRAP MANAGEMENT PROGRAM THAT REGULATED CO2 EMISSIONS AND REDUCED OPERATIONAL COSTS
    PACKAGING FACILITY IN US IMPLEMENTED KADANT JOHNSON 45-SERIES THAT IMPROVED HEAT TRANSFERS
  • 5.14 TARIFF AND REGULATORY LANDSCAPE
    TARIFF ANALYSIS
    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    STANDARDS
  • 5.15 PORTER'S FIVE FORCES ANALYSIS
    THREAT OF NEW ENTRANTS
    THREAT OF SUBSTITUTES
    BARGAINING POWER OF BUYERS
    BARGAINING POWER OF SUPPLIERS
    INTENSITY OF COMPETITIVE RIVALRY
  • 5.16 KEY STAKEHOLDERS AND BUYING CRITERIA
    KEY STAKEHOLDERS IN BUYING PROCESS
    BUYING CRITERIA
STEAM TRAP MARKET, BY PRODUCT TYPE
83
  • 6.1 INTRODUCTION
  • 6.2 MECHANICAL
    BALL FLOAT STEAM TRAPS
    - Increasing demand for customized options to foster market growth
    INVERTED BUCKET STEAM TRAPS
    - Government-led initiatives to boost adoption of advanced steam management solutions to fuel market growth
  • 6.3 THERMODYNAMIC
    DISC STEAM TRAPS
    - Increasing focus on energy efficiency to foster market growth
    PISTON TYPE STEAM TRAPS
    - Growing emphasis on minimizing energy wastage to accelerate demand
  • 6.4 THERMOSTATIC
    BALANCED PRESSURE STEAM TRAPS
    - Ability to minimize steam loss and optimize condensate discharge to boost demand
    BIMETALLIC STEAM TRAPS
    - Ability to withstand high temperatures and pressures to foster market growth
    LIQUID EXPANSION STEAM TRAPS
    - Stringent regulations to enhance energy efficiency and monitor emissions to accelerate demand
    BELLOWS STEAM TRAPS
    - Reduced maintenance requirements with effective venting capabilities to boost demand
STEAM TRAP MARKET, BY CONNECTION
103
  • 7.1 INTRODUCTION
  • 7.2 SCREWED
    INCREASING APPLICATION IN SMALL TO MEDIUM-SIZED STEAM SYSTEMS TO DRIVE MARKET
  • 7.3 FLANGED
    EASE OF INSTALLATION AND MAINTENANCE TO BOOST DEMAND
  • 7.4 SOCKET WELDED
    RISING DEMAND FOR EFFICIENT AND HIGH-PERFORMING SYSTEMS TO FOSTER MARKET GROWTH
  • 7.5 OTHER CONNECTIONS
    SWIVEL
    BUTT WELD
STEAM TRAP MARKET, BY BODY MATERIAL
108
  • 8.1 INTRODUCTION
  • 8.2 STEEL
    GROWING DEMAND FOR CORROSION-RESISTANT MATERIALS TO ACCELERATE DEMAND
  • 8.3 IRON
    RISING DEMAND FOR FLEXIBLE AND CRACK-RESISTANT MATERIALS TO FUEL MARKET GROWTH
  • 8.4 OTHER BODY MATERIALS
    BRASS
    BRONZE
STEAM TRAP MARKET, BY PRESSURE
118
  • 9.1 INTRODUCTION
  • 9.2 ≤ 10 BARS
    INCREASING APPLICATION IN FOOD PROCESSING, TEXTILES, AND COMMERCIAL HEATING SYSTEMS TO DRIVE MARKET
  • 9.3 >10 BARS–≤ 25 BARS
    RISING EMPHASIS ON ADOPTION OF SUSTAINABLE MANUFACTURING PROCESSES TO FOSTER MARKET GROWTH
  • 9.4 >25 BARS
    RISING NEED FOR ENERGY EFFICIENCY IN POWER AND INDUSTRIAL SECTORS TO ACCELERATE DEMAND
    STEAM TRAP MARKET, BY SIZE
STEAM TRAP MARKET, BY SIZE
122
  • 10.1 INTRODUCTION
  • 10.2 ≤DN 25
    INCREASING IMPLEMENTATION IN COMPACT AND LIGHTWEIGHT SYSTEMS TO BOOST DEMAND
  • 10.3 >DN 25–≤DN 65
    RISING APPLICATION IN POWER GENERATION AND CHEMICAL PROCESSING TO FOSTER MARKET GROWTH
  • 10.4 > DN 65
    GROWING EMPHASIS ON BOOSTING ENERGY EFFICIENCY AND REDUCING EMISSIONS TO DRIVE MARKET
STEAM TRAP MARKET, BY APPLICATION
127
  • 11.1 INTRODUCTION
  • 11.2 TRACING
    RISING FOCUS ON ADOPTING ENERGY-SAVING TECHNOLOGIES TO FUEL MARKET GROWTH
  • 11.3 DRIP
    ABILITY TO MINIMIZE STEAM LOSS TO BOOST DEMAND
  • 11.4 PROCESS
    INCREASING APPLICATION IN PHARMACEUTICALS AND FOOD & BEVERAGE MANUFACTURING TO DRIVE MARKET
STEAM TRAP MARKET, BY END-USE INDUSTRY
133
  • 12.1 INTRODUCTION
  • 12.2 CHEMICALS
    GROWING INVESTMENTS IN R&D TO BOOST DEMAND
    ROLL DRYERS
    CONCENTRATORS
    JACKETED MIXING TANKS
    REACTOR KETTLES
    ACETONE VAPORIZERS
    CONICAL DRYERS
    PURIFYING KETTLES
  • 12.3 ENERGY & POWER
    RISING EMPHASIS ON DECARBONIZING ENERGY-INTENSIVE INDUSTRIES TO DRIVE MARKET
    TURBINE EXHAUSTS
    AUXILIARY SYSTEMS
  • 12.4 FOOD & BEVERAGES
    INCREASING REGULATORY SCRUTINY FOR FOOD SAFETY TO FOSTER MARKET GROWTH
    BOIL POUCHES
    STEAM KETTLES
    BOTTLE WASHERS
    PLATE HEATERS
    JACKETED KETTLES
    BOILING KETTLES
  • 12.5 OIL & GAS
    GOVERNMENT-LED INITIATIVES TO ENHANCE ENERGY EFFICIENCY TO FUEL MARKET GROWTH
    VAPORIZERS
    TANK HEATING
    HEAT EXCHANGERS
    CONCENTRATORS
    REACTOR KETTLES
  • 12.6 PHARMACEUTICALS
    INCREASING NEED FOR ENERGY-EFFICIENT OPERATIONS IN PHARMACEUTICAL MANUFACTURING TO ACCELERATE DEMAND
    SANITIZATION
    STERILIZATION
  • 12.7 TEXTILES
    RISING NEED TO MAINTAIN OPTIMAL STEAM PRESSURE TO DRIVE MARKET
    EMBOSSING ROLLS
    ROLL DRYERS
    HOT AIR DRYERS
    CYLINDER DRYERS
    DYE TANKS
  • 12.8 OTHER END-USE INDUSTRIES
    METALS & MINING
    PULP & PAPER
    WATER & WASTEWATER TREATMENT
STEAM TRAP MARKET, BY REGION
158
  • 13.1 INTRODUCTION
  • 13.2 NORTH AMERICA
    MACROECONOMIC OUTLOOK FOR NORTH AMERICA
    US
    - Increasing focus on energy efficiency and process optimization to boost demand
    CANADA
    - Growing emphasis on sustainability and energy conservation to drive market
    MEXICO
    - Rising demand from manufacturing and energy sectors to fuel market growth
  • 13.3 EUROPE
    MACROECONOMIC OUTLOOK FOR EUROPE
    GERMANY
    - Increasing adoption of eco-friendly practices to foster market growth
    UK
    - Surging revenues from oil & gas production to drive market
    FRANCE
    - Growing emphasis on decarbonization to boost demand
    REST OF EUROPE
  • 13.4 ASIA PACIFIC
    MACROECONOMIC OUTLOOK FOR ASIA PACIFIC
    CHINA
    - Thriving manufacturing sector to offer lucrative growth opportunities
    INDIA
    - Rapid industrial expansion to drive market
    JAPAN
    - Rising focus on reducing CO2 emissions to drive demand
    REST OF ASIA PACIFIC
  • 13.5 ROW
    MACROECONOMIC OUTLOOK FOR ROW
    MIDDLE EAST & AFRICA
    - Thriving oil & gas sector to foster market growth
    - GCC
    - Rest of Middle East & Africa
    SOUTH AMERICA
    - Increasing emphasis on lowering carbon footprint to drive market
COMPETITIVE LANDSCAPE
189
  • 14.1 OVERVIEW
  • 14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022–2024
  • 14.3 REVENUE ANALYSIS, 2019–2023
  • 14.4 MARKET SHARE ANALYSIS, 2023
  • 14.5 COMPANY VALUATION AND FINANCIAL METRICS, 2023
  • 14.6 PRODUCT COMPARISON
  • 14.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
    STARS
    EMERGING LEADERS
    PERVASIVE PLAYERS
    PARTICIPANTS
    COMPANY FOOTPRINT: KEY PLAYERS, 2023
    - Company footprint
    - Region footprint
    - Product type footprint
    - Body material footprint
    - Connection footprint
  • 14.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
    COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
    - Detailed list of key startups/SMEs
    - Competitive benchmarking of key startups/SMEs
  • 14.9 COMPETITIVE SCENARIO
    PRODUCT LAUNCHES
    DEALS
COMPANY PROFILES
208
  • 15.1 KEY PLAYERS
    SPIRAX GROUP PLC
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    EMERSON ELECTRIC CO.
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    VELAN INC.
    - Business overview
    - Products/Solutions/Services offered
    - MnM view
    WATTS
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    XYLEM
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    THERMAX LIMITED
    - Business overview
    - Products/Solutions/Services offered
    SLB
    - Business overview
    - Products/Solutions/Services offered
    ARMSTRONG INTERNATIONAL INC.
    - Business overview
    - Products/Solutions/Services offered
    TLV CO., LTD.
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    FORBES MARSHALL
    - Business overview
    - Products/Solutions/Services offered
  • 15.2 OTHER PLAYERS
    WATSON MCDANIEL
    MIYAWAKI INC.
    HAWA ENGINEERS LTD
    ARI-ARMATUREN
    VENN.CO, LTD
    AYVAZ
    NETA METAL WORKS
    THERMOMEGATECH, INC.
    TUNSTALL
    THERMAL ENERGY INTERNATIONAL INC.
    BARNES & JONES, LLC
    ESCO GROUP OF COMPANIES
    UNITED BRASS WORKS
    COLTON INDUSTRIES
    RICHARDS INDUSTRIALS
APPENDIX
245
  • 16.1 INSIGHTS FROM INDUSTRY EXPERTS
  • 16.2 DISCUSSION GUIDE
  • 16.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
  • 16.4 CUSTOMIZATION OPTIONS
  • 16.5 RELATED REPORTS
  • 16.6 AUTHOR DETAILS
LIST OF TABLES
 
  • TABLE 1 STEAM TRAP MARKET: RISK ANALYSIS
  • TABLE 2 AVERAGE SELLING PRICE TREND OF STEAM TRAPS, BY KEY PLAYER, 2021–2023 (USD)
  • TABLE 3 AVERAGE SELLING PRICE TREND OF STEAM TRAPS, 2019–2023 (USD)
  • TABLE 4 AVERAGE SELLING PRICE TREND OF STEAM TRAPS, BY REGION, 2019–2023 (USD)
  • TABLE 5 ROLE OF COMPANIES IN ECOSYSTEM
  • TABLE 6 LIST OF PATENTS, 2024
  • TABLE 7 IMPORT DATA FOR HS CODE 8481-COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 (USD MILLION)
  • TABLE 8 EXPORT DATA FOR HS CODE 8481-COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 (USD MILLION)
  • TABLE 9 KEY CONFERENCES AND EVENTS, 2024–2026
  • TABLE 10 TARIFFS FOR HS CODE-8481 COMPLIANT PRODUCTS, 2023
  • TABLE 11 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 12 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 13 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 14 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 15 STEAM TRAP MARKET: STANDARDS
  • TABLE 16 STEAM TRAP MARKET: PORTER'S FIVE FORCES ANALYSIS
  • TABLE 17 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES (%)
  • TABLE 18 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES
  • TABLE 19 STEAM TRAP MARKET, IN TERMS OF VALUE AND VOLUME, 2020–2023
  • TABLE 20 STEAM TRAP MARKET, IN TERMS OF VALUE AND VOLUME, 2024–2029
  • TABLE 21 STEAM TRAP MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
  • TABLE 22 STEAM TRAP MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
  • TABLE 23 STEAM TRAP MARKET, BY MECHANICAL, 2020–2023 (USD MILLION)
  • TABLE 24 STEAM TRAP MARKET, BY MECHANICAL, 2024–2029 (USD MILLION)
  • TABLE 25 MECHANICAL: STEAM TRAP MARKET, BY BODY MATERIAL, 2020–2023 (USD MILLION)
  • TABLE 26 MECHANICAL: STEAM TRAP MARKET, BY BODY MATERIAL, 2024–2029 (USD MILLION)
  • TABLE 27 BALL FLOAT STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2020–2023 (USD MILLION)
  • TABLE 28 BALL FLOAT STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2024–2029 (USD MILLION)
  • TABLE 29 INVERTED BUCKET STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2020–2023 (USD MILLION)
  • TABLE 30 INVERTED BUCKET STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2024–2029 (USD MILLION)
  • TABLE 31 MECHANICAL: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 32 MECHANICAL: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 33 STEAM TRAP MARKET, BY THERMODYNAMIC, 2020–2023 (USD MILLION)
  • TABLE 34 STEAM TRAP MARKET, BY THERMODYNAMIC, 2024–2029 (USD MILLION)
  • TABLE 35 THERMODYNAMIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2020–2023 (USD MILLION)
  • TABLE 36 THERMODYNAMIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2024–2029 (USD MILLION)
  • TABLE 37 DISC STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2020–2023 (USD MILLION)
  • TABLE 38 DISC STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2024–2029 (USD MILLION)
  • TABLE 39 PISTON TYPE STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2020–2023 (USD MILLION)
  • TABLE 40 PISTON TYPE STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2024–2029 (USD MILLION)
  • TABLE 41 THERMODYNAMIC: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 42 THERMODYNAMIC: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 43 STEAM TRAP MARKET, BY THERMOSTATIC, 2020–2023 (USD MILLION)
  • TABLE 44 STEAM TRAP MARKET, BY THERMOSTATIC, 2024–2029 (USD MILLION)
  • TABLE 45 THERMOSTATIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2020–2023 (USD MILLION)
  • TABLE 46 THERMOSTATIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2024–2029 (USD MILLION)
  • TABLE 47 BALANCED PRESSURE STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2020–2023 (USD MILLION)
  • TABLE 48 BALANCED PRESSURE STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2024–2029 (USD MILLION)
  • TABLE 49 BIMETALLIC STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2020–2023 (USD MILLION)
  • TABLE 50 BIMETALLIC STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2024–2029 (USD MILLION)
  • TABLE 51 LIQUID EXPANSION STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2020–2023 (USD MILLION)
  • TABLE 52 LIQUID EXPANSION STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2024–2029 (USD MILLION)
  • TABLE 53 BELLOWS STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2020–2023 (USD MILLION)
  • TABLE 54 BELLOWS STEAM TRAPS: STEAM TRAP MARKET, BY BODY MATERIAL, 2024–2029 (USD MILLION)
  • TABLE 55 THERMOSTATIC: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 56 THERMOSTATIC: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 57 STEAM TRAP MARKET, BY CONNECTION, 2020–2023 (USD MILLION)
  • TABLE 58 STEAM TRAP MARKET, BY CONNECTION, 2024–2029 (USD MILLION)
  • TABLE 59 STEAM TRAP MARKET, BY BODY MATERIAL, 2020–2023 (USD MILLION)
  • TABLE 60 STEAM TRAP MARKET, BY BODY MATERIAL, 2024–2029 (USD MILLION)
  • TABLE 61 STEEL: STEAM TRAP MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
  • TABLE 62 STEEL: STEAM TRAP MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
  • TABLE 63 STEEL: STEAM TRAP MARKET, BY THERMODYNAMIC, 2020–2023 (USD MILLION)
  • TABLE 64 STEEL: STEAM TRAP MARKET, BY THERMODYNAMIC, 2024–2029 (USD MILLION)
  • TABLE 65 STEEL: STEAM TRAP MARKET, BY MECHANICAL, 2020–2023 (USD MILLION)
  • TABLE 66 STEEL: STEAM TRAP MARKET, BY MECHANICAL, 2024–2029 (USD MILLION)
  • TABLE 67 STEEL: STEAM TRAP MARKET, BY THERMOSTATIC, 2020–2023 (USD MILLION)
  • TABLE 68 STEEL: STEAM TRAP MARKET, BY THERMOSTATIC, 2024–2029 (USD MILLION)
  • TABLE 69 IRON: STEAM TRAP MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
  • TABLE 70 IRON: STEAM TRAP MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
  • TABLE 71 IRON: STEAM TRAP MARKET, BY THERMODYNAMIC, 2020–2023 (USD MILLION)
  • TABLE 72 IRON: STEAM TRAP MARKET, BY THERMODYNAMIC, 2024–2029 (USD MILLION)
  • TABLE 73 IRON: STEAM TRAP MARKET, BY MECHANICAL, 2020–2023 (USD MILLION)
  • TABLE 74 IRON: STEAM TRAP MARKET, BY MECHANICAL, 2024–2029 (USD MILLION)
  • TABLE 75 IRON: STEAM TRAP MARKET, BY THERMOSTATIC, 2020–2023 (USD MILLION)
  • TABLE 76 IRON: STEAM TRAP MARKET, BY THERMOSTATIC, 2024–2029 (USD MILLION)
  • TABLE 77 OTHER BODY MATERIALS: STEAM TRAP MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
  • TABLE 78 OTHER BODY MATERIALS: STEAM TRAP MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
  • TABLE 79 OTHER BODY MATERIALS: STEAM TRAP MARKET, BY THERMODYNAMIC, 2020–2023 (USD MILLION)
  • TABLE 80 OTHER BODY MATERIALS: STEAM TRAP MARKET, BY THERMODYNAMIC, 2024–2029 (USD MILLION)
  • TABLE 81 OTHER BODY MATERIALS: STEAM TRAP MARKET, BY MECHANICAL, 2020–2023 (USD MILLION)
  • TABLE 82 OTHER BODY MATERIALS: STEAM TRAP MARKET, BY MECHANICAL, 2024–2029 (USD MILLION)
  • TABLE 83 OTHER BODY MATERIALS: STEAM TRAP MARKET, BY THERMOSTATIC, 2020–2023 (USD MILLION)
  • TABLE 84 OTHER BODY MATERIALS: STEAM TRAP MARKET, BY THERMOSTATIC, 2024–2029 (USD MILLION)
  • TABLE 85 STEAM TRAP MARKET, BY PRESSURE, 2020–2023 (USD MILLION)
  • TABLE 86 STEAM TRAP MARKET, BY PRESSURE, 2024–2029 (USD MILLION)
  • TABLE 87 STEAM TRAP MARKET, BY SIZE, 2020–2023 (USD MILLION)
  • TABLE 88 STEAM TRAP MARKET, BY SIZE, 2024–2029 (USD MILLION)
  • TABLE 89 STEAM TRAP MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 90 STEAM TRAP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 91 TRACING: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 92 TRACING: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 93 DRIP: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 94 DRIP: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 95 PROCESS: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 96 PROCESS: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 97 STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 98 STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 99 CHEMICALS: STEAM TRAP MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 100 CHEMICALS: STEAM TRAP MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 101 CHEMICALS: STEAM TRAP MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
  • TABLE 102 CHEMICALS: STEAM TRAP MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
  • TABLE 103 CHEMICALS: STEAM TRAP MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 104 CHEMICALS: STEAM TRAP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 105 ENERGY & POWER: STEAM TRAP MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 106 ENERGY & POWER: STEAM TRAP MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 107 ENERGY & POWER: STEAM TRAP MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
  • TABLE 108 ENERGY & POWER: STEAM TRAP MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
  • TABLE 109 ENERGY & POWER: STEAM TRAP MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 110 ENERGY & POWER: STEAM TRAP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 111 FOOD & BEVERAGES: STEAM TRAP MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 112 FOOD & BEVERAGES: STEAM TRAP MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 113 FOOD & BEVERAGES: STEAM TRAP MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
  • TABLE 114 FOOD & BEVERAGES: STEAM TRAP MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
  • TABLE 115 FOOD & BEVERAGES: STEAM TRAP MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 116 FOOD & BEVERAGES: STEAM TRAP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 117 OIL & GAS: STEAM TRAP MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 118 OIL & GAS: STEAM TRAP MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 119 OIL & GAS: STEAM TRAP MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
  • TABLE 120 OIL & GAS: STEAM TRAP MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
  • TABLE 121 OIL & GAS: STEAM TRAP MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 122 OIL & GAS: STEAM TRAP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 123 PHARMACEUTICALS: STEAM TRAP MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 124 PHARMACEUTICALS: STEAM TRAP MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 125 PHARMACEUTICALS: STEAM TRAP MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
  • TABLE 126 PHARMACEUTICALS: STEAM TRAP MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
  • TABLE 127 PHARMACEUTICALS: STEAM TRAP MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 128 PHARMACEUTICALS: STEAM TRAP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 129 TEXTILES: STEAM TRAP MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 130 TEXTILES: STEAM TRAP MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 131 TEXTILES: STEAM TRAP MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
  • TABLE 132 TEXTILES: STEAM TRAP MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
  • TABLE 133 TEXTILES: STEAM TRAP MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 134 TEXTILES: STEAM TRAP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 135 OTHER END-USE INDUSTRIES: STEAM TRAP MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 136 OTHER END-USE INDUSTRIES: STEAM TRAP MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 137 OTHER END-USE INDUSTRIES: STEAM TRAP MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
  • TABLE 138 OTHER END-USE INDUSTRIES: STEAM TRAP MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
  • TABLE 139 OTHER END-USE INDUSTRIES: STEAM TRAP MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 140 OTHER END-USE INDUSTRIES: STEAM TRAP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 141 STEAM TRAP MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 142 STEAM TRAP MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 143 NORTH AMERICA: STEAM TRAP MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 144 NORTH AMERICA: STEAM TRAP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 145 NORTH AMERICA: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 146 NORTH AMERICA: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 147 US: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 148 US: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 149 CANADA: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 150 CANADA: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 151 MEXICO: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 152 MEXICO: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 153 EUROPE: STEAM TRAP MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 154 EUROPE: STEAM TRAP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 155 EUROPE: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 156 EUROPE: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 157 GERMANY: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023, (USD MILLION)
  • TABLE 158 GERMANY: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 159 UK: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 160 UK: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 161 FRANCE: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 162 FRANCE: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 163 REST OF EUROPE: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 164 REST OF EUROPE: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 165 ASIA PACIFIC: STEAM TRAP MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 166 ASIA PACIFIC: STEAM TRAP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 167 ASIA PACIFIC: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 168 ASIA PACIFIC: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 169 CHINA: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 170 CHINA: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 171 INDIA: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 172 INDIA: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 173 JAPAN: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 174 JAPAN: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 175 REST OF ASIA PACIFIC: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 176 REST OF ASIA PACIFIC: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 177 ROW: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 178 ROW: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029, (USD MILLION)
  • TABLE 179 ROW: STEAM TRAP MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 180 ROW: STEAM TRAP MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 181 MIDDLE EAST & AFRICA: STEAM TRAP MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 182 MIDDLE EAST & AFRICA: STEAM TRAP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 183 MIDDLE EAST & AFRICA: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 184 MIDDLE EAST & AFRICA: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029, (USD MILLION)
  • TABLE 185 SOUTH AMERICA: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)
  • TABLE 186 SOUTH AMERICA: STEAM TRAP MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)
  • TABLE 187 STEAM TRAP MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2022–2024
  • TABLE 188 STEAM TRAP MARKET: DEGREE OF COMPETITION, 2023
  • TABLE 189 STEAM TRAP MARKET: REGION FOOTPRINT
  • TABLE 190 STEAM TRAP MARKET: PRODUCT TYPE FOOTPRINT
  • TABLE 191 STEAM TRAP MARKET: BODY MATERIAL FOOTPRINT
  • TABLE 192 STEAM TRAP MARKET: CONNECTION FOOTPRINT
  • TABLE 193 STEAM TRAP MARKET: LIST OF KEY STARTUPS/SMES
  • TABLE 194 STEAM TRAP MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
  • TABLE 195 STEAM TRAP MARKET: PRODUCT LAUNCHES, JANUARY 2022–SEPTEMBER 2024
  • TABLE 196 STEAM TRAP MARKET: DEALS, JANUARY 2022–SEPTEMBER 2024
  • TABLE 197 SPIRAX GROUP PLC: COMPANY OVERVIEW
  • TABLE 198 SPIRAX GROUP PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 199 SPIRAX GROUP PLC: DEALS
  • TABLE 200 EMERSON ELECTRIC CO.: COMPANY OVERVIEW
  • TABLE 201 EMERSON ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 202 EMERSON ELECTRIC CO.: DEALS
  • TABLE 203 VELAN INC.: COMPANY OVERVIEW
  • TABLE 204 VELAN INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 205 WATTS: COMPANY OVERVIEW
  • TABLE 206 WATTS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 207 WATTS: DEALS
  • TABLE 208 XYLEM: COMPANY OVERVIEW
  • TABLE 209 XYLEM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 210 XYLEM: DEALS
  • TABLE 211 THERMAX LIMITED: COMPANY OVERVIEW
  • TABLE 212 THERMAX LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 213 SLB: COMPANY OVERVIEW
  • TABLE 214 SLB: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 215 ARMSTRONG INTERNATIONAL INC.: COMPANY OVERVIEW
  • TABLE 216 ARMSTRONG INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 217 TLV CO., LTD.: COMPANY OVERVIEW
  • TABLE 218 TLV CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 219 TLV CO., LTD.: PRODUCT LAUNCHES
  • TABLE 220 FORBES MARSHALL: COMPANY OVERVIEW
  • TABLE 221 FORBES MARSHALL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 222 WATSON MCDANIEL: COMPANY OVERVIEW
  • TABLE 223 MIYAWAKI INC.: COMPANY OVERVIEW
  • TABLE 224 HAWA ENGINEERS LTD: COMPANY OVERVIEW
  • TABLE 225 ARI-ARMATUREN: COMPANY OVERVIEW
  • TABLE 226 VENN.CO, LTD: COMPANY OVERVIEW
  • TABLE 227 AYVAZ: COMPANY OVERVIEW
  • TABLE 228 NETA METAL WORKS: COMPANY OVERVIEW
  • TABLE 229 THERMOMEGATECH, INC.: COMPANY OVERVIEW
  • TABLE 230 TUNSTALL: COMPANY OVERVIEW
  • TABLE 231 THERMAL ENERGY INTERNATIONAL INC.: COMPANY OVERVIEW
  • TABLE 232 BARNES & JONES, LLC: COMPANY OVERVIEW
  • TABLE 233 ESCO GROUP OF COMPANIES: COMPANY OVERVIEW
  • TABLE 234 UNITED BRASS WORKS: COMPANY OVERVIEW
  • TABLE 235 COLTON INDUSTRIES: COMPANY OVERVIEW
  • TABLE 236 RICHARDS INDUSTRIALS: COMPANY OVERVIEW
LIST OF FIGURES
 
  • FIGURE 1 STEAM TRAP MARKET SEGMENTATION AND REGIONAL SCOPE
  • FIGURE 2 STEAM TRAP MARKET: RESEARCH DESIGN
  • FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE GENERATED BY STEAM TRAP MANUFACTURERS/PROVIDERS
  • FIGURE 4 STEAM TRAP MARKET: BOTTOM-UP APPROACH
  • FIGURE 5 STEAM TRAP MARKET: TOP-DOWN APPROACH
  • FIGURE 6 DATA TRIANGULATION
  • FIGURE 7 THERMODYNAMIC SEGMENT TO HOLD LARGEST MARKET SHARE IN 2024
  • FIGURE 8 TRACING SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 9 STEEL SEGMENT TO DOMINATE MARKET IN 2029
  • FIGURE 10 OIL & GAS SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2024
  • FIGURE 11 ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 2023
  • FIGURE 12 GROWING ADOPTION IN FOOD & BEVERAGES AND PHARMACEUTICALS INDUSTRIES TO BOOST DEMAND
  • FIGURE 13 THERMOSTATIC SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 14 SCREWED SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2024
  • FIGURE 15 STEEL SEGMENT TO SECURE LARGEST MARKET SHARE IN 2024
  • FIGURE 16 ≤ 10 BARS SEGMENT TO DOMINATE MARKET IN 2029
  • FIGURE 17 >DN 65 SEGMENT TO BE FASTEST-GROWING SEGMENT DURING FORECAST PERIOD
  • FIGURE 18 TRACING SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 19 OIL & GAS SEGMENT TO LEAD MARKET IN 2029
  • FIGURE 20 ASIA PACIFIC TO SECURE LARGEST MARKET SHARE IN 2029
  • FIGURE 21 INDIA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 22 STEAM TRAP MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
  • FIGURE 23 STEAM TRAP MARKET: IMPACT ANALYSIS OF DRIVERS
  • FIGURE 24 STEAM TRAP MARKET: IMPACT ANALYSIS OF RESTRAINTS
  • FIGURE 25 STEAM TRAP MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
  • FIGURE 26 STEAM TRAP MARKET: IMPACT ANALYSIS OF CHALLENGES
  • FIGURE 27 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
  • FIGURE 28 AVERAGE SELLING PRICE TREND OF STEAM TRAPS OFFERED BY KEY PLAYERS, BY PRODUCT TYPE, 2023
  • FIGURE 29 AVERAGE SELLING PRICE TREND OF STEAM TRAPS, 2019–2023
  • FIGURE 30 AVERAGE SELLING PRICE TREND OF STEAM TRAPS, BY REGION, 2019–2023
  • FIGURE 31 STEAM TRAP MARKET: VALUE CHAIN ANALYSIS
  • FIGURE 32 STEAM TRAP MARKET: ECOSYSTEM ANALYSIS
  • FIGURE 33 INVESTMENT AND FUNDING SCENARIO, 2018–2023
  • FIGURE 34 IMPACT OF AI/GENERATIVE AI ON STEAM TRAP MARKET
  • FIGURE 35 PATENTS APPLIED AND GRANTED, 2014–2023
  • FIGURE 36 IMPORT DATA FOR HS CODE 8481-COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 (USD MILLION)
  • FIGURE 37 EXPORT DATA FOR HS CODE 8481-COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 (USD MILLION)
  • FIGURE 38 STEAM TRAP MARKET: PORTER'S FIVE FORCES ANALYSIS
  • FIGURE 39 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES
  • FIGURE 40 BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES
  • FIGURE 41 STEAM TRAP MARKET, BY PRODUCT TYPE
  • FIGURE 42 THERMODYNAMIC SEGMENT TO DOMINATE MARKET IN 2029
  • FIGURE 43 STEAM TRAP MARKET, BY CONNECTION
  • FIGURE 44 SCREWED SEGMENT TO LEAD MARKET IN 2024
  • FIGURE 45 STEAM TRAP MARKET, BY BODY MATERIAL
  • FIGURE 46 STEEL SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 47 STEAM TRAP MARKET, BY PRESSURE
  • FIGURE 48 ≤10 BARS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2024
  • FIGURE 49 STEAM TRAP MARKET, BY SIZE
  • FIGURE 50 ≤ DN 25 SEGMENT TO LEAD MARKET IN 2029
  • FIGURE 51 STEAM TRAP MARKET, BY APPLICATION
  • FIGURE 52 TRACING APPLICATION TO ACCOUNT FOR LARGEST MARKET SHARE IN 2024
  • FIGURE 53 OIL & GAS SEGMENT TO LEAD MARKET IN 2029
  • FIGURE 54 INDIA TO REGISTER HIGHEST CAGR IN GLOBAL STEAM TRAP MARKET DURING FORECAST PERIOD
  • FIGURE 55 ASIA PACIFIC TO ACCOUNT FOR LARGEST MARKET SHARE IN 2024
  • FIGURE 56 NORTH AMERICA: STEAM TRAP MARKET SNAPSHOT
  • FIGURE 57 EUROPE: STEAM TRAP MARKET SNAPSHOT
  • FIGURE 58 ASIA PACIFIC: STEAM TRAP MARKET SNAPSHOT
  • FIGURE 59 STEAM TRAP MARKET: REVENUE ANALYSIS OF FOUR KEY PLAYERS, 2019–2023
  • FIGURE 60 MARKET SHARE ANALYSIS OF COMPANIES OFFERING STEAM TRAPS, 2023
  • FIGURE 61 COMPANY VALUATION, 2023
  • FIGURE 62 FINANCIAL METRICS (EV/EBITDA), 2023
  • FIGURE 63 STEAM TRAP MARKET: PRODUCT COMPARISON
  • FIGURE 64 STEAM TRAP MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
  • FIGURE 65 STEAM TRAP MARKET: COMPANY FOOTPRINT
  • FIGURE 66 STEAM TRAP MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023
  • FIGURE 67 SPIRAX GROUP PLC: COMPANY SNAPSHOT
  • FIGURE 68 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT
  • FIGURE 69 VELAN INC.: COMPANY SNAPSHOT
  • FIGURE 70 WATTS: COMPANY SNAPSHOT
  • FIGURE 71 XYLEM: COMPANY SNAPSHOT
  • FIGURE 72 THERMAX LIMITED: COMPANY SNAPSHOT
  • FIGURE 73 SLB: COMPANY SNAPSHOT

 

The study involved major activities in estimating the current market size for the steam trap market. Exhaustive secondary research was done to collect information on the steam trap industry. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Different approaches, such as top-down and bottom-up, were employed to estimate the total market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the steam trap market.

Secondary Research

The market for the companies offering steam trap is arrived at by secondary data available through paid and unpaid sources, analyzing the product portfolios of the major companies in the ecosystem, and rating the companies by their performance and quality. Various sources were referred to in the secondary research process to identify and collect information for this study. The secondary sources include annual reports, press releases, investor presentations of companies, white papers, journals, certified publications, and articles from recognized authors, directories, and databases. In the secondary research process, various secondary sources were referred to for identifying and collecting information related to the study. Secondary sources included annual reports, press releases, and investor presentations of vendors, forums, certified publications, and whitepapers. The secondary research was used to obtain critical information on the industry's value chain, the total pool of key players, market classification, and segmentation from the market and technology-oriented perspectives.

Primary Research

Extensive primary research has been conducted after understanding and analyzing the current scenario of the steam trap market through secondary research. Several primary interviews have been conducted with the key opinion leaders from the demand and supply sides across four main regions—North America, Europe, Asia Pacific, and the Rest of Europe. Approximately 30% of the primary interviews were conducted with the demand-side respondents, while approximately 70% were conducted with the supply-side respondents. The primary data has been collected through questionnaires, emails, and telephone interviews.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primary. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. The breakdown of primary respondents is as follows:

About the assumptions considered for the study, To know download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches wete used to estimate and validate the total size of the steam trap market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

Steam Trap Market : Top-Down and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from the demand and supply sides.

Market Definition

A steam trap is an automatic device designed to eliminate condensate and non-condensable gases from a steam system while ensuring that live steam is not released. Functioning as an automatic valve, it opens to permit condensate discharge and closes to safeguard against live steam leakage. The presence of steam traps is crucial for the efficient functioning of steam systems.

Key Stakeholders

  •  End users
  • Government bodies, venture capitalists, and private equity firms
  • Steam trap manufacturers
  • Steam trap distributors
  • Steam trap industry associations
  • Professional service/solution providers
  • Research institutions and organizations
  • Standards organizations and regulatory authorities
  • System integrators
  • Technology consultants   

Report Objectives

  • To describe and forecast the steam trap market, in terms of value, based on product type, connection, body material, pressure, size, application and end use industry
  • To forecast the size of the steam trap market in terms of volume
  • To forecast the market size, in terms of value, for four main regions—North America, Europe, Asia Pacific, and the RoW (Rest of the World)
  • To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing the market growth
  • To provide a detailed overview of the value chain of the steam trap ecosystem
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
  • To analyze the opportunities for stakeholders and details of the competitive landscape of the market
  • To strategically profile the key players and comprehensively analyze their market positions in terms of ranking and core competencies2
  • To analyze the major growth strategies implemented by key market players, such as agreements, acquisitions, product launches, expansions, and partnerships
  • To study the impact of AI on the market under study, along with macroeconomic outlook for each region

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

  • Detailed analysis and profiling of additional market players based on various blocks of the supply chain

 

Previous Versions of this Report

Steam Trap Market by Mechanical (Ball Float, Inverted Bucket), Thermodynamic, Thermostatic (Balanced Pressure, Bimetallic), Application (Drip, Process, Tracing), Body Material (Steel, Iron), End-User Industry and Region - Global Forecast to 2028

Report Code SE 5172
Published in Aug, 2023, By MarketsandMarkets™

Steam Trap Market by Mechanical (Ball Float, Inverted Bucket), Thermodynamic, Thermostatic (Balanced Pressure, Bimetallic), Application (Drip, Process, Tracing), Body Material (Steel, Iron), End-User Industry and Region - Global Forecast to 2028

Report Code SE 5172
Published in Apr, 2017, By MarketsandMarkets™
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