Steam Trap Market Outlook 2027 By Product, Applications, Size, Share, Trends, Growth Forecast
According To TechSci Research, Global steam trap market is expected to grow at a steady CAGR during the forecast period. The global steam trap market is driven by rising demand for energy management solutions. Moreover, initiatives taken by the regulatory bodies in order to minimize carbon footprint is positively impacting the growth of market during the forecast period. Mounting the use of renewable sources of energy coupled with technological advancements is expected to bolster the growth of market over the next few years.
The global steam trap market is segmented based on product, application, body material, industry, company, and region. Based on product, the market can be categorized into thermodynamic, mechanical & thermostatic. Out of which, the mechanical steam trap segment dominated the market until 2021 and is expected to maintain its dominance in the market during the forecast period on account of its high rate of heat transfer. By body material, the global steam trap market is expected to be dominated by steel body material during the forecast period as it allows flexibility in the selection of the right trap to meet the specific needs of end-use applications.
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The major players operating in the steam trap market are Spirax-Sarco Engineering PLC, Pentair PLC, The Weir Group PLC, Flowserve Corporation, Circor International, Inc., Emerson Electric Co., Schlumberger N.V., Thermax Limited, Velan Inc., Watts Water Technologies, Inc. and others.
- To analyze and estimate the market size of global steam trap market from 2017 to 2020.
- To estimate and forecast the market size of global steam trap market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast global steam trap market based on product, application, body material, industry, company and regional distribution.
- To identify dominant region or segment in the global steam trap market.
- To identify drivers and challenges for global steam trap market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global steam trap market.
- To conduct pricing analysis for global steam trap market.
- To identify and analyze the profile of leading players operating in global steam trap market.
- To identify key sustainable strategies adopted by market players in global steam trap market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers and presence of all major players across the globe.
TechSci Research calculated the market size of global steam trap market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Steam trap manufacturers
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to steam trap
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Attribute | Details |
Base Year | 2021 |
Historical Years | 2017 – 2020 |
Estimated Year | 2022 |
Forecast Period | 2023 – 2027 |
Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027 |
Report Coverage | Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered | · Product · Application · Body Material · Industry |
Regional Scope | North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa |
Country Scope | United States; Canada; Mexico; China; India; Japan; Malaysia; Thailand; Indonesia; Vietnam; South Korea; Germany; France; United Kingdom; Spain; Italy; Belgium; Russia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; South Africa; Egypt |
Key Companies Profiled | Spirax-Sarco Engineering PLC, Pentair PLC, The Weir Group PLC, Flowserve Corporation, Circor International, Inc., Emerson Electric Co., Schlumberger N.V., Thermax Limited, Velan Inc., Watts Water Technologies, Inc. |
Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, global steam trap market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Global Steam Trap Market, By Product:
- Thermodynamic
- Mechanical
- Thermostatic
- Global Steam Trap Market, By Application:
- Drip Application
- Process Application
- Tracing Application
- Global Steam Trap Market, By Body Material
- Steel
- Iron
- Others
- Global Steam Trap Market, By Industry:
- Chemicals
- Energy and Power
- Food & Beverages
- Oil & Gas
- Pharmaceuticals
- Others
- Global Steam Trap Market, By Region:
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global steam trap market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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