According to IMARC Group’s latest report, titled “Steam Trap Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, offers a comprehensive analysis of the industry, which comprises insights on the steam trap market growth.

The global steam trap market is expected to exhibit a CAGR of 4.4% during 2022-2027. A steam trap is an automatic valve that filters condensate and non-condensable gases, such as air, without letting the steam escape. It acts as a drain valve and separates the condensable gases from the steam system to generate latent heat and transfer it to the desired product. It allows the movement of cooler gases through the system and retains the warmer steam for further utilization. It also aids in minimizing the wastage of steam and carbon dioxide (CO2) emissions into the environment. Owing to these properties, steam traps find extensive applications in industrial storage tanks, steamers, pressure reducing valve stations, heat exchangers and reboilers.

Request a Free PDF Sample of the Report: https://www.imarcgroup.com/steam-trap-market/requestsample

Steam Trap Market Trends:

The market is primarily driven by the rising automation in the oil and gas industry. At present, steam traps are widely used for steam-assisted gravity-drainage processes in the oilfields. They are also employed for the decoking processes in the oil and gas refineries to separate a small amount of steam from the hydrogen present in coke. In addition, the introduction of advanced product variants represents another major growth-inducing factor. Nowadays, manufacturers are developing steam traps with crevice-free designs using stainless steel to prevent the accumulation of condensates, boiler additives and rust that can cause infections. Besides this, with the implementation of the stringent regulatory framework to reduce the carbon footprint, various end use industries are adopting steam traps to cut down their fuel costs. This, coupled with various technological advancements, such as the development of steam traps integrated with innovative monitoring systems that transmit the readings to a dedicated platform to provide meaningful insights about the system, is creating a positive market outlook across the globe.

Steam Trap Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the steam trap market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Circor International Inc.
Emerson Electric Co.
Flowserve Corporation
Pentair Inc.
Schlumberger Limited

Spirax-Sarco Engineering
Thermax Ltd.
Velan Inc.
Watts Water Technologies Inc.

The Weir Group PLC, etc

Key Market Segmentation:

The report has segmented the global steam trap market on the basis of product type, application, material type, distribution channel, end-use industry and region.

Breakup by Product Type:

Thermodynamic
Mechanical
Thermostatic

Breakup by Application:

Instrument Steam Tracing
Line Steam Tracing
Drip Application
Process Application
Others

Breakup by Material Type:

Steel
Iron
Others

Breakup by Distribution Channel:

Online
Offline

Breakup by End-Use Industry:

Oil & Gas
Power Generation
Pharmaceuticals
Food & Beverages
Pulp & Paper

Chemical
Others

Breakup by Region:

Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/steam-trap-market

Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19

Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact US:

IMARC Group

134 N 4th St Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

Steam Trap Market Share, Trends, Analysis and Forecast to 2027