スチームトラップ市場:機械式(ボールフロート、倒立バケット)、熱力学、恒温式(バランス圧、バイメタル)、用途(ドリップ、プロセス、トレース)、本体材質(鋼鉄、鉄)、エンドユーザー産業、地域別 - 2028年までの世界予測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 スチームトラップ市場は、2023年の38億米ドルから2028年には46億米ドルに成長すると予測され、予測期間中のCAGRは3.8%である。エネルギー効率の高いスチームシステムに対する需要の増加とスチームシステムにおけ... もっと見る
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サマリースチームトラップ市場は、2023年の38億米ドルから2028年には46億米ドルに成長すると予測され、予測期間中のCAGRは3.8%である。エネルギー効率の高いスチームシステムに対する需要の増加とスチームシステムにおける自動化の採用がスチームトラップ市場を牽引している。"サーモスタット式スチームトラップ市場は予測期間中最高のCAGRで成長する見込み" サーモスタット式スチームトラップ市場は、予測期間中に最高のCAGRで成長する見込みです。サーモスタット式スチームトラップは、温度変化に基づいてスチーム流量を効率的に調節することにより、スチーム管理を最適化するための洗練されたソリューションを提供する。このダイナミックな機能により、省エネルギーが保証され、不必要な蒸気の浪費が防止されるため、産業界が業務効率と資源活用に重点を置いていることとシームレスに一致します。さらに、信頼性の高い性能と比較的低いメンテナンス要件は、効率的で費用対効果の高い蒸気管理ソリューションを求める産業にとって魅力的です。 "予測期間中、スチールボディ材料セグメントがスチームトラップ市場を支配する見込み" 予測期間を通じてスチームトラップ市場の最大規模を占めると予想されるのは、スチールボディ材料セグメントである。スチールの卓越した耐久性と耐食性は、特に過酷な運転条件を伴う産業において、スチームトラップ構造に理想的な選択となる。この長寿命により、性能が長持ちし、頻繁な交換の必要性が減少するため、コスト削減と運転信頼性の向上が実現します。さらに、スチール固有の強度は、高い圧力と温度の変化に耐えることができる堅牢なスチームトラップの設計を可能にし、要求の厳しい産業用途への適性をさらに強化します。さらに、スチールの優れた熱伝導特性は、効率的なドレン除去を促進し、スチームトラップの性能と全体的な運転効率の向上に貢献します。 "アジア太平洋地域のスチームトラップ市場は2023年から2028年の間に最高のCAGRを記録する" アジア太平洋地域のスチームトラップ市場は、予測期間中に最も高いCAGRで成長すると予想される。同地域の堅調な工業化と様々な分野にわたるインフラ拡張が、効率的な蒸気管理ソリューションへの需要を増幅している。産業が規模を拡大し近代化するにつれて、エネルギー利用と復水制御の最適化が不可欠となり、スチームトラップの重要性が高まっています。さらに、アジア太平洋地域の政府と産業は、持続可能性とエネルギー効率を非常に重視しています。スチームトラップは、蒸気の浪費を防ぎ、エネルギー消費を最適化することで、これらの目的を達成する実用的な方法を提供します。持続可能性が中心的な焦点となる中、スチームトラップの採用はこの地域の目標と規制に合致しています。 プライマリーの内訳 二次調査を通じて収集したいくつかのセグメントとサブセグメントの市場規模を決定・検証するにあたり、スチームトラップ市場分野の主要な業界専門家に広範な一次インタビューを実施した。本レポートの主要参加者の内訳は以下の通りです: - 企業タイプ別ティア1:45%、ティア2:25%、ティア3:30 - 役職別Cレベル幹部:40%、取締役:30%、その他:30 - 地域別北米30%、欧州25%、アジア太平洋地域35%、その他の地域10 スチームトラップ市場の主要プレーヤーは、Spirax-Sarco Engineering plc(英国)、Emerson Electric Co.(米国)、Schlumberger Limited(米国)、Thermax Limited(インド)、Velan Inc.(カナダ)、Watts Water Technologies, Inc.(米国)、Armstrong International Inc.(米国)、TLV CO.(日本)、Forbes Marshall(インド)、Xylem Inc. スチームトラップ市場は、製品、用途、本体材料、エンドユーザー産業、地域に区分されている。スチームトラップ市場は、北米、欧州、アジア太平洋地域、その他の地域で調査されています。 レポートを購入する理由 本レポートは、スチームトラップと関連セグメントの最も近いおおよその収益に関する情報を提供し、市場リーダー/新規参入者に役立ちます。本レポートは、利害関係者が競争状況を理解し、市場での地位を強化し、適切な市場参入戦略を計画するためのより多くの洞察を得るのに役立ちます。また、本レポートは、利害関係者が市場の脈動を理解し、主要な市場促進要因、阻害要因、機会、および課題に関する情報を提供するのに役立ちます。 本レポートでは、以下のポイントに関する洞察を提供しています: - 主な促進要因(エネルギー効率の高いスチームシステムに対する需要の増加、スチームシステムにおける自動化の採用の拡大、製造効率の向上と温室効果ガス排出量の削減を目的とした規制機関による厳しい規制)、阻害要因(スチームトラップシステムの導入に必要な高額な投資、スチームトラップシステムの運用に伴う定期的なメンテナンスと複雑さ)、機会(新興国の急速な経済成長とIoTセンサーの開発がスチームトラップの需要と信頼性を押し上げる)、課題(スチームトラップシステムの認識不足と利点)の分析。 - 製品開発/イノベーション:スチームトラップ市場における今後の技術、研究開発活動、新製品発売に関する詳細な洞察。 - 市場開発:有利な市場に関する包括的情報 - 当レポートでは、様々な地域のスチームトラップ市場を分析しています。 - 市場の多様化:スチームトラップ市場における新製品、未開拓の地域、最近の開発、投資に関する情報を網羅します。 - 競争力の評価:Spirax-Sarco Engineering plc(英国)、Emerson Electric Co.(米国)、Schlumberger Limited(米国)、Thermax Limited(インド)、Velan Inc.(カナダ)、Watts Water Technologies, Inc. 目次1 INTRODUCTION 261.1 STUDY OBJECTIVES 26 1.2 MARKET DEFINITION 26 1.3 STUDY SCOPE 27 1.3.1 MARKETS COVERED 27 FIGURE 1 STEAM TRAP MARKET: SEGMENTATION 27 1.3.2 INCLUSIONS AND EXCLUSIONS 27 1.3.3 GEOGRAPHICAL SCOPE 28 1.3.4 YEARS CONSIDERED 28 1.4 CURRENCY CONSIDERED 28 1.5 LIMITATIONS 29 1.6 STAKEHOLDERS 29 1.7 SUMMARY OF CHANGES 29 1.8 RECESSION IMPACT 30 2 RESEARCH METHODOLOGY 31 2.1 RESEARCH DATA 31 FIGURE 2 STEAM TRAP MARKET: RESEARCH DESIGN 31 2.1.1 SECONDARY AND PRIMARY RESEARCH 32 FIGURE 3 SECONDARY AND PRIMARY RESEARCH 32 2.1.2 SECONDARY DATA 33 2.1.2.1 List of secondary sources 33 2.1.2.2 Key data from secondary sources 34 2.1.3 PRIMARY DATA 34 2.1.3.1 Primary interviews with experts 35 2.1.3.2 Key data from primary sources 35 2.1.3.3 Key industry insights 36 2.1.3.4 Breakdown of primaries 36 2.2 MARKET SIZE ESTIMATION 37 2.2.1 BOTTOM-UP APPROACH 37 2.2.1.1 Approach to derive market share by bottom-up analysis (Demand side) 37 FIGURE 4 BOTTOM-UP APPROACH 38 2.2.2 TOP-DOWN APPROACH 38 2.2.2.1 Approach to derive market share by top-down analysis (Supply side) 38 FIGURE 5 TOP-DOWN APPROACH 38 FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: (DEMAND SIDE) REVENUE GENERATED BY COMPANIES IN STEAM TRAP MARKET 39 2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 40 FIGURE 7 DATA TRIANGULATION 40 2.4 RESEARCH ASSUMPTIONS 41 2.5 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON STEAM TRAP MARKET 41 2.6 RISK ASSESSMENT 42 TABLE 1 STEAM TRAP MARKET: RISK ASSESSMENT 42 3 EXECUTIVE SUMMARY 43 FIGURE 8 MECHANICAL SEGMENT TO HOLD LARGEST SIZE OF STEAM TRAP MARKET DURING FORECAST PERIOD 44 FIGURE 9 TRACING APPLICATION SEGMENT TO REGISTER HIGHEST CAGR IN MARKET DURING FORECAST PERIOD 44 FIGURE 10 STEEL SEGMENT TO DOMINATE STEAM TRAP MARKET DURING FORECAST PERIOD 45 FIGURE 11 OIL & GAS INDUSTRY TO CAPTURE LARGEST SHARE OF STEAM TRAP MARKET DURING FORECAST PERIOD 46 FIGURE 12 ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 2022 47 4 PREMIUM INSIGHTS 48 4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN STEAM TRAP MARKET 48 FIGURE 13 GROWING ADOPTION OF STEAM TRAPS IN FOOD & BEVERAGES AND PHARMACEUTICALS INDUSTRIES TO PROVIDE OPPORTUNITIES FOR PLAYERS IN STEAM TRAP MARKET 48 4.2 STEAM TRAP MARKET, BY PRODUCT 48 FIGURE 14 MECHANICAL SEGMENT TO HOLD LARGEST MARKET SHARE OF STEAM TRAP MARKET IN 2023 48 4.3 STEAM TRAP MARKET, BY APPLICATION 49 FIGURE 15 TRACING APPLICATION SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 49 4.4 STEAM TRAP MARKET, BY BODY MATERIAL 49 FIGURE 16 STEEL SEGMENT TO REGISTER HIGHEST CAGR DURING 2023–2028 49 4.5 STEAM TRAP MARKET, BY END-USER INDUSTRY 50 FIGURE 17 OIL & GAS SEGMENT TO HOLD LARGEST SHARE OF STEAM TRAP MARKET IN 2023 50 4.6 STEAM TRAP MARKET, BY COUNTRY 50 FIGURE 18 INDIA TO BE FASTEST-GROWING STEAM TRAP MARKET DURING FORECAST PERIOD 50 5 MARKET OVERVIEW 51 5.1 INTRODUCTION 51 5.2 MARKET DYNAMICS 51 FIGURE 19 STEAM TRAP MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 51 5.2.1 DRIVERS 52 5.2.1.1 Increasing demand for energy-efficient steam systems 52 5.2.1.2 Growing adoption of automation in steam systems 52 5.2.1.3 Need to enhance manufacturing efficiency and reduce greenhouse gas emissions 53 FIGURE 20 STEAM TRAP MARKET: IMPACT OF DRIVERS 54 5.2.2 RESTRAINTS 54 5.2.2.1 Need for substantial upfront investment 54 5.2.2.2 Need for periodic maintenance and complexities associated with operations of steam trap systems 55 FIGURE 21 STEAM TRAP MARKET: IMPACT OF RESTRAINTS 55 5.2.3 OPPORTUNITIES 55 5.2.3.1 Rapid economic growth in emerging economies 55 5.2.3.2 Integration of steam traps with IoT sensors 56 FIGURE 22 STEAM TRAP MARKET: IMPACT OF OPPORTUNITIES 57 5.2.4 CHALLENGES 57 5.2.4.1 Lack of awareness about benefits of steam trap systems 57 FIGURE 23 STEAM TRAP MARKET: IMPACT OF CHALLENGES 57 5.3 VALUE CHAIN ANALYSIS 58 FIGURE 24 STEAM TRAP MARKET: VALUE CHAIN ANALYSIS 58 5.4 ECOSYSTEM MAPPING 59 FIGURE 25 STEAM TRAP MARKET: ECOSYSTEM 59 TABLE 2 STEAM TRAP MARKET: ROLE OF KEY PLAYERS IN ECOSYSTEM 60 5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 61 FIGURE 26 REVENUE SHIFTS AND NEW REVENUE POCKETS FOR PLAYERS IN STEAM TRAP MARKET 61 5.6 TECHNOLOGY ANALYSIS 62 5.6.1 PREDICTIVE MAINTENANCE 62 5.6.2 DIGITALIZATION AND ARTIFICIAL INTELLIGENCE 62 6 STEAM TRAP MARKET, BY PRODUCT 63 6.1 INTRODUCTION 64 TABLE 3 STEAM TRAP MARKET, IN TERMS OF VALUE AND VOLUME, 2019–2022 64 TABLE 4 STEAM TRAP MARKET, IN TERMS OF VALUE AND VOLUME, 2023–2028 64 TABLE 5 STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 65 TABLE 6 STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 65 FIGURE 27 STEAM TRAP MARKET, BY PRODUCT 66 FIGURE 28 MECHANICAL SEGMENT TO COMMAND LARGEST SHARE OF STEAM TRAP MARKET BETWEEN 2023 AND 2028 66 6.2 MECHANICAL 66 6.2.1 LOW MAINTENANCE REQUIREMENTS TO DRIVE DEMAND FOR MECHANICAL STEAM TRAPS 66 TABLE 7 STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 67 TABLE 8 STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 67 TABLE 9 MECHANICAL: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 67 TABLE 10 MECHANICAL: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 68 TABLE 11 BALL FLOAT: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 68 TABLE 12 BALL FLOAT: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 68 TABLE 13 INVERTED BUCKET: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 69 TABLE 14 INVERTED BUCKET: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 69 6.3 THERMODYNAMIC 69 6.3.1 ABILITY TO OPERATE IN HIGH PRESSURE AND TEMPERATURE TO BOOST DEMAND FOR THERMODYNAMIC STEAM TRAPS 69 TABLE 15 THERMODYNAMIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 70 TABLE 16 THERMODYNAMIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 70 6.4 THERMOSTATIC 70 6.4.1 SUITABILITY FOR WIDE RANGE OF APPLICATIONS TO BOOST DEMAND FOR THERMOSTATIC STEAM TRAPS 70 TABLE 17 STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 71 TABLE 18 STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 71 TABLE 19 THERMOSTATIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 71 TABLE 20 THERMOSTATIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 72 TABLE 21 BALANCED PRESSURE: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 72 TABLE 22 BALANCED PRESSURE: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 72 TABLE 23 BIMETALLIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 73 TABLE 24 BIMETALLIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 73 7 STEAM TRAP MARKET, BY APPLICATION 74 7.1 INTRODUCTION 75 TABLE 25 STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 75 TABLE 26 STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 75 FIGURE 29 STEAM TRAP MARKET, BY APPLICATION 76 FIGURE 30 TRACING APPLICATION TO LEAD STEAM TRAP MARKET FROM 2023 TO 2028 76 7.2 TRACING APPLICATION 76 7.2.1 DURABILITY AND CORROSION RESISTANCE FEATURES MAKE THERMOSTATIC STEAM TRAPS SUITABLE FOR TRACING APPLICATIONS 76 TABLE 27 TRACING APPLICATION: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 77 TABLE 28 TRACING APPLICATION: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 77 7.3 DRIP APPLICATION 78 7.3.1 THERMODYNAMIC STEAM TRAPS IDEAL FOR DRIP APPLICATIONS 78 TABLE 29 DRIP APPLICATION: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 78 TABLE 30 DRIP APPLICATION: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 78 7.4 PROCESS APPLICATION 79 7.4.1 REQUIRES STEAM TRAPS WITH LARGER CONDENSATE HANDLING CAPACITY 79 TABLE 31 PROCESS APPLICATION: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 79 TABLE 32 PROCESS APPLICATION: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 80 8 STEAM TRAP MARKET, BY BODY MATERIAL 81 8.1 INTRODUCTION 82 TABLE 33 STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 82 TABLE 34 STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 82 FIGURE 31 STEAM TRAP MARKET, BY BODY MATERIAL 83 FIGURE 32 STEEL SEGMENT TO REGISTER HIGHEST CAGR BETWEEN 2023 AND 2028 83 8.2 STEEL 83 8.2.1 DURABILITY AND FLEXIBILITY OF STEEL STEAM TRAPS MAKE THEM SUITABLE FOR APPLICATIONS IN DIFFERENT INDUSTRIES 83 8.3 IRON 84 8.3.1 IRON STEAM TRAPS COMMONLY USED IN LOW- AND MEDIUM-PRESSURE STEAM SYSTEMS 84 8.4 OTHERS 84 9 STEAM TRAP MARKET, BY END-USER INDUSTRY 85 9.1 INTRODUCTION 86 TABLE 35 STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 86 TABLE 36 STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 86 FIGURE 33 OIL & GAS SEGMENT TO LEAD STEAM TRAP MARKET BETWEEN 2023 AND 2028 87 9.2 CHEMICALS 87 9.2.1 HIGH DEPENDENCY ON STEAM FOR PROCESS APPLICATIONS TO CREATE DEMAND FOR STEAM TRAPS 87 TABLE 37 CHEMICALS: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 88 TABLE 38 CHEMICALS: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 88 TABLE 39 CHEMICALS: STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 88 TABLE 40 CHEMICALS: STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 89 TABLE 41 CHEMICALS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 89 TABLE 42 CHEMICALS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 89 TABLE 43 CHEMICALS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 90 TABLE 44 CHEMICALS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 90 TABLE 45 CHEMICALS: STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 90 TABLE 46 CHEMICALS: STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 90 9.3 ENERGY & POWER 91 9.3.1 INCREASING FOCUS ON ENERGY MANAGEMENT TO BOOST DEMAND FOR STEAM TRAPS 91 TABLE 47 ENERGY & POWER: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 91 TABLE 48 ENERGY & POWER: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 91 TABLE 49 ENERGY & POWER: STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 92 TABLE 50 ENERGY & POWER: STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 92 TABLE 51 ENERGY & POWER: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 92 TABLE 52 ENERGY & POWER: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 92 TABLE 53 ENERGY & POWER: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 93 TABLE 54 ENERGY & POWER: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 93 TABLE 55 ENERGY & POWER: STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 93 TABLE 56 ENERGY & POWER: STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 93 9.4 FOOD & BEVERAGES 94 9.4.1 NEED TO IMPROVE PROCESS EFFICIENCY TO DRIVE ADOPTION OF STEAM TRAPS 94 TABLE 57 FOOD & BEVERAGES: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 94 TABLE 58 FOOD & BEVERAGES: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 94 TABLE 59 FOOD & BEVERAGES: STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 95 TABLE 60 FOOD & BEVERAGES: STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 95 TABLE 61 FOOD & BEVERAGES: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 95 TABLE 62 FOOD & BEVERAGES: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 95 TABLE 63 FOOD & BEVERAGES: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 96 TABLE 64 FOOD & BEVERAGES: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 96 TABLE 65 FOOD & BEVERAGES: STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 96 TABLE 66 FOOD & BEVERAGES: STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 96 9.5 OIL & GAS 97 9.5.1 STEADY RECOVERY OF OIL & GAS INDUSTRY TO GENERATE DEMAND FOR STEAM TRAPS 97 TABLE 67 OIL & GAS: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 97 TABLE 68 OIL & GAS: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 97 TABLE 69 OIL & GAS: STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 98 TABLE 70 OIL & GAS: STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 98 TABLE 71 OIL & GAS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 98 TABLE 72 OIL & GAS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 98 TABLE 73 OIL & GAS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 99 TABLE 74 OIL & GAS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 99 TABLE 75 OIL & GAS: STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 99 TABLE 76 OIL & GAS: STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 99 9.6 PHARMACEUTICALS 100 9.6.1 NEED TO ENSURE COMPLIANCE WITH STRINGENT REGULATIONS TO INCREASE DEMAND FOR STEAM TRAPS 100 TABLE 77 PHARMACEUTICALS: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 100 TABLE 78 PHARMACEUTICALS: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 100 TABLE 79 PHARMACEUTICALS: STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 101 TABLE 80 PHARMACEUTICALS: STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 101 TABLE 81 PHARMACEUTICALS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 101 TABLE 82 PHARMACEUTICALS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 101 TABLE 83 PHARMACEUTICALS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 102 TABLE 84 PHARMACEUTICALS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 102 TABLE 85 PHARMACEUTICALS: STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 102 TABLE 86 PHARMACEUTICALS: STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 102 9.7 OTHERS 103 TABLE 87 OTHERS: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 103 TABLE 88 OTHERS: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 103 TABLE 89 OTHERS: STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 104 TABLE 90 OTHERS: STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 104 TABLE 91 OTHERS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 104 TABLE 92 OTHERS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 104 TABLE 93 OTHERS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 105 TABLE 94 OTHERS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 105 TABLE 95 OTHERS: STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 105 TABLE 96 OTHERS: STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 105 10 STEAM TRAP MARKET, BY REGION 106 10.1 INTRODUCTION 107 FIGURE 34 INDIA TO REGISTER HIGHEST CAGR IN OVERALL STEAM TRAP MARKET DURING FORECAST PERIOD 107 FIGURE 35 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE OF GLOBAL STEAM TRAP MARKET DURING FORECAST PERIOD 108 TABLE 97 STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 108 TABLE 98 STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 108 10.2 NORTH AMERICA 109 10.2.1 NORTH AMERICA: RECESSION IMPACT 109 FIGURE 36 NORTH AMERICA: STEAM TRAP MARKET SNAPSHOT 110 TABLE 99 NORTH AMERICA: STEAM TRAP MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 110 TABLE 100 NORTH AMERICA: STEAM TRAP MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 111 TABLE 101 NORTH AMERICA: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 111 TABLE 102 NORTH AMERICA: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 112 10.2.2 US 112 10.2.2.1 Rising adoption of steam traps in oil & gas sector to contribute to market growth 112 10.2.3 CANADA 113 10.2.3.1 Growing emphasis on reducing energy usage to propel market growth 113 10.2.4 MEXICO 113 10.2.4.1 Pursuit of achieving high operational efficiency in various industries to boost market growth 113 10.3 EUROPE 113 10.3.1 EUROPE: RECESSION IMPACT 114 FIGURE 37 EUROPE: STEAM TRAP MARKET SNAPSHOT 115 TABLE 103 EUROPE: STEAM TRAP MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 116 TABLE 104 EUROPE: STEAM TRAP MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 116 TABLE 105 EUROPE: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022, (USD MILLION) 116 TABLE 106 EUROPE: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 117 10.3.2 GERMANY 117 10.3.2.1 Rising adoption of steam traps by process industries to stimulate market growth 117 10.3.3 UK 118 10.3.3.1 Rapid expansion of industrial sector and surging demand from oil & gas sector to support market growth 118 10.3.4 FRANCE 118 10.3.4.1 Chemicals and food & beverages industries to propel demand for steam traps 118 10.3.5 REST OF EUROPE 118 10.4 ASIA PACIFIC 119 10.4.1 ASIA PACIFIC: RECESSION IMPACT 119 FIGURE 38 ASIA PACIFIC: STEAM TRAP MARKET SNAPSHOT 120 TABLE 107 ASIA PACIFIC: STEAM TRAP MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 121 TABLE 108 ASIA PACIFIC: STEAM TRAP MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 121 TABLE 109 ASIA PACIFIC: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 121 TABLE 110 ASIA PACIFIC: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 122 10.4.2 CHINA 122 10.4.2.1 Government initiatives to promote energy efficiency to create demand for steam traps 122 10.4.3 INDIA 123 10.4.3.1 Rapid industrialization and commitment to energy efficiency to drive market 123 10.4.4 JAPAN 123 10.4.4.1 Increasing focus on enhancing production capabilities and overall operational efficiency to boost requirement for steam traps 123 10.4.5 REST OF ASIA PACIFIC 123 10.5 REST OF THE WORLD (ROW) 124 10.5.1 REST OF THE WORLD: IMPACT OF RECESSION 124 TABLE 111 REST OF THE WORLD: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 124 TABLE 112 REST OF THE WORLD: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028, (USD MILLION) 125 TABLE 113 REST OF THE WORLD: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 125 TABLE 114 REST OF THE WORLD: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 125 10.5.2 AFRICA 126 10.5.2.1 High demand from oil & gas and mining industries to boost market growth 126 10.5.3 MIDDLE EAST 126 10.5.3.1 Booming oil & gas industry to increase demand for steam traps 126 10.5.4 SOUTH AMERICA 126 10.5.4.1 Thriving mining industry to contribute to market growth 126 11 COMPETITIVE LANDSCAPE 127 11.1 OVERVIEW 127 11.2 MARKET SHARE ANALYSIS, 2022 127 TABLE 115 STEAM TRAP MARKET: DEGREE OF COMPETITION 127 FIGURE 39 MARKET SHARE ANALYSIS, 2022 128 11.3 EVALUATION MATRIX OF KEY COMPANIES, 2022 129 11.3.1 STARS 129 11.3.2 EMERGING LEADERS 129 11.3.3 PERVASIVE PLAYERS 129 11.3.4 PARTICIPANTS 129 FIGURE 40 STEAM TRAP MARKET: EVALUATION MATRIX OF KEY COMPANIES, 2022 130 11.4 COMPETITIVE SCENARIOS AND TRENDS 131 11.4.1 PRODUCT LAUNCHES AND DEVELOPMENTS 131 TABLE 116 STEAM TRAP MARKET: PRODUCT LAUNCHES AND DEVELOPMENTS, 2018–2022 131 11.4.2 DEALS 131 TABLE 117 STEAM TRAP MARKET: DEALS, 2019–2023 131 12 COMPANY PROFILES 133 (Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)* 12.1 KEY PLAYERS 133 12.1.1 SPIRAX-SARCO ENGINEERING PLC 133 TABLE 118 SPIRAX-SARCO ENGINEERING PLC: COMPANY OVERVIEW 133 FIGURE 41 SPIRAX-SARCO ENGINEERING PLC: COMPANY SNAPSHOT 134 TABLE 119 SPIRAX-SARCO ENGINEERING PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 134 TABLE 120 SPIRAX-SARCO ENGINEERING PLC: PRODUCT LAUNCHES 135 TABLE 121 SPIRAX-SARCO ENGINEERING PLC: DEALS 135 12.1.2 EMERSON ELECTRIC CO. 137 TABLE 122 EMERSON ELECTRIC CO.: COMPANY OVERVIEW 137 FIGURE 42 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT 138 TABLE 123 EMERSON ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 138 TABLE 124 EMERSON ELECTRIC CO.: DEALS 139 12.1.3 THERMAX LIMITED 141 TABLE 125 THERMAX LIMITED: COMPANY OVERVIEW 141 FIGURE 43 THERMAX LIMITED: COMPANY SNAPSHOT 142 TABLE 126 THERMAX LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 142 12.1.4 SCHLUMBERGER LIMITED 144 TABLE 127 SCHLUMBERGER LIMITED: COMPANY OVERVIEW 144 FIGURE 44 SCHLUMBERGER LIMITED: COMPANY SNAPSHOT 145 TABLE 128 SCHLUMBERGER LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 145 12.1.5 VELAN INC. 146 TABLE 129 VELAN INC.: COMPANY OVERVIEW 146 FIGURE 45 VELAN INC.: COMPANY SNAPSHOT 146 TABLE 130 VELAN INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 147 TABLE 131 VELAN INC.: DEALS 147 12.1.6 WATTS WATER TECHNOLOGIES, INC. 148 TABLE 132 WATTS WATER TECHNOLOGIES, INC.: COMPANY OVERVIEW 148 FIGURE 46 WATTS WATER TECHNOLOGIES, INC.: COMPANY SNAPSHOT 149 TABLE 133 WATTS WATER TECHNOLOGIES, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 149 12.1.7 ARMSTRONG INTERNATIONAL INC. 150 TABLE 134 ARMSTRONG INTERNATIONAL INC.: COMPANY OVERVIEW 150 TABLE 135 ARMSTRONG INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 150 TABLE 136 ARMSTRONG INTERNATIONAL INC.: DEALS 151 12.1.8 TLV CO., LTD. 152 TABLE 137 TLV CO., LTD.: COMPANY OVERVIEW 152 TABLE 138 TLV CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 152 TABLE 139 TLV CO., LTD.: PRODUCT LAUNCHES 153 12.1.9 FORBES MARSHALL 154 TABLE 140 FORBES MARSHALL: COMPANY OVERVIEW 154 TABLE 141 FORBES MARSHALL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 154 12.1.10 XYLEM 155 TABLE 142 XYLEM: COMPANY OVERVIEW 155 FIGURE 47 XYLEM: COMPANY SNAPSHOT 156 TABLE 143 XYLEM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 156 12.2 OTHER PLAYERS 157 12.2.1 WATSON MCDANIEL 157 TABLE 144 WATSON MCDANIEL: COMPANY OVERVIEW 157 12.2.2 MIYAWAKI INC. 158 TABLE 145 MIYAWAKI INC.: COMPANY OVERVIEW 158 12.2.3 HAWA ENGINEERS LTD. 159 TABLE 146 HAWA ENGINEERS LTD.: COMPANY OVERVIEW 159 12.2.4 ARI-ARMATUREN 160 TABLE 147 ARI-ARMATUREN: COMPANY OVERVIEW 160 12.2.5 VENN CO., LTD. 161 TABLE 148 VENN CO., LTD.: COMPANY OVERVIEW 161 12.2.6 AYVAZ 162 TABLE 149 AYVAZ: COMPANY OVERVIEW 162 12.2.7 NETA METAL WORKS 163 TABLE 150 NETA METAL WORKS: COMPANY OVERVIEW 163 12.2.8 THERMOMEGATECH, INC. 164 TABLE 151 THERMOMEGATECH, INC.: COMPANY OVERVIEW 164 12.2.9 TUNSTALL 165 TABLE 152 TUNSTALL: COMPANY OVERVIEW 165 12.2.10 THERMAL ENERGY INTERNATIONAL INC. 166 TABLE 153 THERMAL ENERGY INTERNATIONAL INC.: COMPANY OVERVIEW 166 12.2.11 BARNES & JONES, LLC 167 TABLE 154 BARNES & JONES, LLC: COMPANY OVERVIEW 167 12.2.12 ESCO GROUP OF COMPANIES 168 TABLE 155 ESCO GROUP OF COMPANIES: COMPANY OVERVIEW 168 12.2.13 UNITED BRASS WORKS 169 TABLE 156 UNITED BRASS WORKS: COMPANY OVERVIEW 169 12.2.14 COLTON INDUSTRIES 170 TABLE 157 COLTON INDUSTRIES: COMPANY OVERVIEW 170 12.2.15 RICHARDS INDUSTRIALS 171 TABLE 158 RICHARDS INDUSTRIALS: COMPANY OVERVIEW 171 *Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies. 13 ADJACENT AND RELATED MARKETS 172 13.1 INTRODUCTION 172 13.2 STUDY LIMITATIONS 172 13.3 INDUSTRIAL VALVES MARKET, BY COMPONENT 173 13.3.1 INTRODUCTION 173 FIGURE 48 INDUSTRIAL VALVES MARKET, BY COMPONENT 173 TABLE 159 INDUSTRIAL VALVES MARKET, BY COMPONENT, 2019–2022 (USD MILLION) 173 TABLE 160 INDUSTRIAL VALVES MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 173 13.4 ACTUATORS 174 13.4.1 PNEUMATIC ACTUATORS 174 13.4.1.1 Diaphragm actuators 174 13.4.1.1.1 Suitable for control valves used in oil & gas industry 174 13.4.1.2 Piston actuators 174 13.4.1.2.1 Designed for butterfly valves used in food, chemicals, and pharmaceutical industries 174 13.4.2 ELECTRIC ACTUATORS 174 13.4.2.1 Wide use in water & wastewater treatment and chemical plants to boost segmental growth 174 13.4.3 HYDRAULIC ACTUATORS 175 13.4.3.1 Integration of hydraulic actuators in HVAC, fire protection, and irrigation systems to propel market growth 175 TABLE 161 ACTUATORS: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 175 TABLE 162 ACTUATORS: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 175 13.5 VALVE BODY 175 13.5.1 RISING DEMAND FOR VALVE BODIES FEATURING HIGH CORROSION RESISTANCE AND BETTER CHEMICAL COMPATIBILITY TO SUPPORT SEGMENTAL GROWTH 175 13.6 OTHER COMPONENTS 176 14 APPENDIX 177 14.1 INSIGHTS FROM INDUSTRY EXPERTS 177 14.2 DISCUSSION GUIDE 178 14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 180 14.4 CUSTOMIZATION OPTIONS 182 14.5 RELATED REPORTS 182 14.6 AUTHOR DETAILS 183
SummaryThe steam trap market is expected to grow from USD 3.8 billion in 2023 to USD 4.6 billion by 2028, at a CAGR of 3.8% during the forecast period. Increasing demand for energy-efficient steam systems and the growing adoption of automation in steam systems drive the market for steam trap. Table of Contents1 INTRODUCTION 261.1 STUDY OBJECTIVES 26 1.2 MARKET DEFINITION 26 1.3 STUDY SCOPE 27 1.3.1 MARKETS COVERED 27 FIGURE 1 STEAM TRAP MARKET: SEGMENTATION 27 1.3.2 INCLUSIONS AND EXCLUSIONS 27 1.3.3 GEOGRAPHICAL SCOPE 28 1.3.4 YEARS CONSIDERED 28 1.4 CURRENCY CONSIDERED 28 1.5 LIMITATIONS 29 1.6 STAKEHOLDERS 29 1.7 SUMMARY OF CHANGES 29 1.8 RECESSION IMPACT 30 2 RESEARCH METHODOLOGY 31 2.1 RESEARCH DATA 31 FIGURE 2 STEAM TRAP MARKET: RESEARCH DESIGN 31 2.1.1 SECONDARY AND PRIMARY RESEARCH 32 FIGURE 3 SECONDARY AND PRIMARY RESEARCH 32 2.1.2 SECONDARY DATA 33 2.1.2.1 List of secondary sources 33 2.1.2.2 Key data from secondary sources 34 2.1.3 PRIMARY DATA 34 2.1.3.1 Primary interviews with experts 35 2.1.3.2 Key data from primary sources 35 2.1.3.3 Key industry insights 36 2.1.3.4 Breakdown of primaries 36 2.2 MARKET SIZE ESTIMATION 37 2.2.1 BOTTOM-UP APPROACH 37 2.2.1.1 Approach to derive market share by bottom-up analysis (Demand side) 37 FIGURE 4 BOTTOM-UP APPROACH 38 2.2.2 TOP-DOWN APPROACH 38 2.2.2.1 Approach to derive market share by top-down analysis (Supply side) 38 FIGURE 5 TOP-DOWN APPROACH 38 FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: (DEMAND SIDE) REVENUE GENERATED BY COMPANIES IN STEAM TRAP MARKET 39 2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 40 FIGURE 7 DATA TRIANGULATION 40 2.4 RESEARCH ASSUMPTIONS 41 2.5 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON STEAM TRAP MARKET 41 2.6 RISK ASSESSMENT 42 TABLE 1 STEAM TRAP MARKET: RISK ASSESSMENT 42 3 EXECUTIVE SUMMARY 43 FIGURE 8 MECHANICAL SEGMENT TO HOLD LARGEST SIZE OF STEAM TRAP MARKET DURING FORECAST PERIOD 44 FIGURE 9 TRACING APPLICATION SEGMENT TO REGISTER HIGHEST CAGR IN MARKET DURING FORECAST PERIOD 44 FIGURE 10 STEEL SEGMENT TO DOMINATE STEAM TRAP MARKET DURING FORECAST PERIOD 45 FIGURE 11 OIL & GAS INDUSTRY TO CAPTURE LARGEST SHARE OF STEAM TRAP MARKET DURING FORECAST PERIOD 46 FIGURE 12 ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 2022 47 4 PREMIUM INSIGHTS 48 4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN STEAM TRAP MARKET 48 FIGURE 13 GROWING ADOPTION OF STEAM TRAPS IN FOOD & BEVERAGES AND PHARMACEUTICALS INDUSTRIES TO PROVIDE OPPORTUNITIES FOR PLAYERS IN STEAM TRAP MARKET 48 4.2 STEAM TRAP MARKET, BY PRODUCT 48 FIGURE 14 MECHANICAL SEGMENT TO HOLD LARGEST MARKET SHARE OF STEAM TRAP MARKET IN 2023 48 4.3 STEAM TRAP MARKET, BY APPLICATION 49 FIGURE 15 TRACING APPLICATION SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 49 4.4 STEAM TRAP MARKET, BY BODY MATERIAL 49 FIGURE 16 STEEL SEGMENT TO REGISTER HIGHEST CAGR DURING 2023–2028 49 4.5 STEAM TRAP MARKET, BY END-USER INDUSTRY 50 FIGURE 17 OIL & GAS SEGMENT TO HOLD LARGEST SHARE OF STEAM TRAP MARKET IN 2023 50 4.6 STEAM TRAP MARKET, BY COUNTRY 50 FIGURE 18 INDIA TO BE FASTEST-GROWING STEAM TRAP MARKET DURING FORECAST PERIOD 50 5 MARKET OVERVIEW 51 5.1 INTRODUCTION 51 5.2 MARKET DYNAMICS 51 FIGURE 19 STEAM TRAP MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 51 5.2.1 DRIVERS 52 5.2.1.1 Increasing demand for energy-efficient steam systems 52 5.2.1.2 Growing adoption of automation in steam systems 52 5.2.1.3 Need to enhance manufacturing efficiency and reduce greenhouse gas emissions 53 FIGURE 20 STEAM TRAP MARKET: IMPACT OF DRIVERS 54 5.2.2 RESTRAINTS 54 5.2.2.1 Need for substantial upfront investment 54 5.2.2.2 Need for periodic maintenance and complexities associated with operations of steam trap systems 55 FIGURE 21 STEAM TRAP MARKET: IMPACT OF RESTRAINTS 55 5.2.3 OPPORTUNITIES 55 5.2.3.1 Rapid economic growth in emerging economies 55 5.2.3.2 Integration of steam traps with IoT sensors 56 FIGURE 22 STEAM TRAP MARKET: IMPACT OF OPPORTUNITIES 57 5.2.4 CHALLENGES 57 5.2.4.1 Lack of awareness about benefits of steam trap systems 57 FIGURE 23 STEAM TRAP MARKET: IMPACT OF CHALLENGES 57 5.3 VALUE CHAIN ANALYSIS 58 FIGURE 24 STEAM TRAP MARKET: VALUE CHAIN ANALYSIS 58 5.4 ECOSYSTEM MAPPING 59 FIGURE 25 STEAM TRAP MARKET: ECOSYSTEM 59 TABLE 2 STEAM TRAP MARKET: ROLE OF KEY PLAYERS IN ECOSYSTEM 60 5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 61 FIGURE 26 REVENUE SHIFTS AND NEW REVENUE POCKETS FOR PLAYERS IN STEAM TRAP MARKET 61 5.6 TECHNOLOGY ANALYSIS 62 5.6.1 PREDICTIVE MAINTENANCE 62 5.6.2 DIGITALIZATION AND ARTIFICIAL INTELLIGENCE 62 6 STEAM TRAP MARKET, BY PRODUCT 63 6.1 INTRODUCTION 64 TABLE 3 STEAM TRAP MARKET, IN TERMS OF VALUE AND VOLUME, 2019–2022 64 TABLE 4 STEAM TRAP MARKET, IN TERMS OF VALUE AND VOLUME, 2023–2028 64 TABLE 5 STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 65 TABLE 6 STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 65 FIGURE 27 STEAM TRAP MARKET, BY PRODUCT 66 FIGURE 28 MECHANICAL SEGMENT TO COMMAND LARGEST SHARE OF STEAM TRAP MARKET BETWEEN 2023 AND 2028 66 6.2 MECHANICAL 66 6.2.1 LOW MAINTENANCE REQUIREMENTS TO DRIVE DEMAND FOR MECHANICAL STEAM TRAPS 66 TABLE 7 STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 67 TABLE 8 STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 67 TABLE 9 MECHANICAL: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 67 TABLE 10 MECHANICAL: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 68 TABLE 11 BALL FLOAT: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 68 TABLE 12 BALL FLOAT: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 68 TABLE 13 INVERTED BUCKET: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 69 TABLE 14 INVERTED BUCKET: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 69 6.3 THERMODYNAMIC 69 6.3.1 ABILITY TO OPERATE IN HIGH PRESSURE AND TEMPERATURE TO BOOST DEMAND FOR THERMODYNAMIC STEAM TRAPS 69 TABLE 15 THERMODYNAMIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 70 TABLE 16 THERMODYNAMIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 70 6.4 THERMOSTATIC 70 6.4.1 SUITABILITY FOR WIDE RANGE OF APPLICATIONS TO BOOST DEMAND FOR THERMOSTATIC STEAM TRAPS 70 TABLE 17 STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 71 TABLE 18 STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 71 TABLE 19 THERMOSTATIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 71 TABLE 20 THERMOSTATIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 72 TABLE 21 BALANCED PRESSURE: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 72 TABLE 22 BALANCED PRESSURE: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 72 TABLE 23 BIMETALLIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 73 TABLE 24 BIMETALLIC: STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 73 7 STEAM TRAP MARKET, BY APPLICATION 74 7.1 INTRODUCTION 75 TABLE 25 STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 75 TABLE 26 STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 75 FIGURE 29 STEAM TRAP MARKET, BY APPLICATION 76 FIGURE 30 TRACING APPLICATION TO LEAD STEAM TRAP MARKET FROM 2023 TO 2028 76 7.2 TRACING APPLICATION 76 7.2.1 DURABILITY AND CORROSION RESISTANCE FEATURES MAKE THERMOSTATIC STEAM TRAPS SUITABLE FOR TRACING APPLICATIONS 76 TABLE 27 TRACING APPLICATION: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 77 TABLE 28 TRACING APPLICATION: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 77 7.3 DRIP APPLICATION 78 7.3.1 THERMODYNAMIC STEAM TRAPS IDEAL FOR DRIP APPLICATIONS 78 TABLE 29 DRIP APPLICATION: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 78 TABLE 30 DRIP APPLICATION: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 78 7.4 PROCESS APPLICATION 79 7.4.1 REQUIRES STEAM TRAPS WITH LARGER CONDENSATE HANDLING CAPACITY 79 TABLE 31 PROCESS APPLICATION: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 79 TABLE 32 PROCESS APPLICATION: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 80 8 STEAM TRAP MARKET, BY BODY MATERIAL 81 8.1 INTRODUCTION 82 TABLE 33 STEAM TRAP MARKET, BY BODY MATERIAL, 2019–2022 (USD MILLION) 82 TABLE 34 STEAM TRAP MARKET, BY BODY MATERIAL, 2023–2028 (USD MILLION) 82 FIGURE 31 STEAM TRAP MARKET, BY BODY MATERIAL 83 FIGURE 32 STEEL SEGMENT TO REGISTER HIGHEST CAGR BETWEEN 2023 AND 2028 83 8.2 STEEL 83 8.2.1 DURABILITY AND FLEXIBILITY OF STEEL STEAM TRAPS MAKE THEM SUITABLE FOR APPLICATIONS IN DIFFERENT INDUSTRIES 83 8.3 IRON 84 8.3.1 IRON STEAM TRAPS COMMONLY USED IN LOW- AND MEDIUM-PRESSURE STEAM SYSTEMS 84 8.4 OTHERS 84 9 STEAM TRAP MARKET, BY END-USER INDUSTRY 85 9.1 INTRODUCTION 86 TABLE 35 STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 86 TABLE 36 STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 86 FIGURE 33 OIL & GAS SEGMENT TO LEAD STEAM TRAP MARKET BETWEEN 2023 AND 2028 87 9.2 CHEMICALS 87 9.2.1 HIGH DEPENDENCY ON STEAM FOR PROCESS APPLICATIONS TO CREATE DEMAND FOR STEAM TRAPS 87 TABLE 37 CHEMICALS: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 88 TABLE 38 CHEMICALS: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 88 TABLE 39 CHEMICALS: STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 88 TABLE 40 CHEMICALS: STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 89 TABLE 41 CHEMICALS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 89 TABLE 42 CHEMICALS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 89 TABLE 43 CHEMICALS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 90 TABLE 44 CHEMICALS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 90 TABLE 45 CHEMICALS: STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 90 TABLE 46 CHEMICALS: STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 90 9.3 ENERGY & POWER 91 9.3.1 INCREASING FOCUS ON ENERGY MANAGEMENT TO BOOST DEMAND FOR STEAM TRAPS 91 TABLE 47 ENERGY & POWER: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 91 TABLE 48 ENERGY & POWER: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 91 TABLE 49 ENERGY & POWER: STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 92 TABLE 50 ENERGY & POWER: STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 92 TABLE 51 ENERGY & POWER: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 92 TABLE 52 ENERGY & POWER: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 92 TABLE 53 ENERGY & POWER: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 93 TABLE 54 ENERGY & POWER: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 93 TABLE 55 ENERGY & POWER: STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 93 TABLE 56 ENERGY & POWER: STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 93 9.4 FOOD & BEVERAGES 94 9.4.1 NEED TO IMPROVE PROCESS EFFICIENCY TO DRIVE ADOPTION OF STEAM TRAPS 94 TABLE 57 FOOD & BEVERAGES: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 94 TABLE 58 FOOD & BEVERAGES: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 94 TABLE 59 FOOD & BEVERAGES: STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 95 TABLE 60 FOOD & BEVERAGES: STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 95 TABLE 61 FOOD & BEVERAGES: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 95 TABLE 62 FOOD & BEVERAGES: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 95 TABLE 63 FOOD & BEVERAGES: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 96 TABLE 64 FOOD & BEVERAGES: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 96 TABLE 65 FOOD & BEVERAGES: STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 96 TABLE 66 FOOD & BEVERAGES: STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 96 9.5 OIL & GAS 97 9.5.1 STEADY RECOVERY OF OIL & GAS INDUSTRY TO GENERATE DEMAND FOR STEAM TRAPS 97 TABLE 67 OIL & GAS: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 97 TABLE 68 OIL & GAS: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 97 TABLE 69 OIL & GAS: STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 98 TABLE 70 OIL & GAS: STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 98 TABLE 71 OIL & GAS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 98 TABLE 72 OIL & GAS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 98 TABLE 73 OIL & GAS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 99 TABLE 74 OIL & GAS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 99 TABLE 75 OIL & GAS: STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 99 TABLE 76 OIL & GAS: STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 99 9.6 PHARMACEUTICALS 100 9.6.1 NEED TO ENSURE COMPLIANCE WITH STRINGENT REGULATIONS TO INCREASE DEMAND FOR STEAM TRAPS 100 TABLE 77 PHARMACEUTICALS: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 100 TABLE 78 PHARMACEUTICALS: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 100 TABLE 79 PHARMACEUTICALS: STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 101 TABLE 80 PHARMACEUTICALS: STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 101 TABLE 81 PHARMACEUTICALS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 101 TABLE 82 PHARMACEUTICALS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 101 TABLE 83 PHARMACEUTICALS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 102 TABLE 84 PHARMACEUTICALS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 102 TABLE 85 PHARMACEUTICALS: STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 102 TABLE 86 PHARMACEUTICALS: STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 102 9.7 OTHERS 103 TABLE 87 OTHERS: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 103 TABLE 88 OTHERS: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 103 TABLE 89 OTHERS: STEAM TRAP MARKET, BY PRODUCT, 2019–2022 (USD MILLION) 104 TABLE 90 OTHERS: STEAM TRAP MARKET, BY PRODUCT, 2023–2028 (USD MILLION) 104 TABLE 91 OTHERS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2019–2022 (USD MILLION) 104 TABLE 92 OTHERS: STEAM TRAP MARKET, BY MECHANICAL PRODUCT TYPE, 2023–2028 (USD MILLION) 104 TABLE 93 OTHERS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2019–2022 (USD MILLION) 105 TABLE 94 OTHERS: STEAM TRAP MARKET, BY THERMOSTATIC PRODUCT TYPE, 2023–2028 (USD MILLION) 105 TABLE 95 OTHERS: STEAM TRAP MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 105 TABLE 96 OTHERS: STEAM TRAP MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 105 10 STEAM TRAP MARKET, BY REGION 106 10.1 INTRODUCTION 107 FIGURE 34 INDIA TO REGISTER HIGHEST CAGR IN OVERALL STEAM TRAP MARKET DURING FORECAST PERIOD 107 FIGURE 35 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE OF GLOBAL STEAM TRAP MARKET DURING FORECAST PERIOD 108 TABLE 97 STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 108 TABLE 98 STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 108 10.2 NORTH AMERICA 109 10.2.1 NORTH AMERICA: RECESSION IMPACT 109 FIGURE 36 NORTH AMERICA: STEAM TRAP MARKET SNAPSHOT 110 TABLE 99 NORTH AMERICA: STEAM TRAP MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 110 TABLE 100 NORTH AMERICA: STEAM TRAP MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 111 TABLE 101 NORTH AMERICA: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 111 TABLE 102 NORTH AMERICA: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 112 10.2.2 US 112 10.2.2.1 Rising adoption of steam traps in oil & gas sector to contribute to market growth 112 10.2.3 CANADA 113 10.2.3.1 Growing emphasis on reducing energy usage to propel market growth 113 10.2.4 MEXICO 113 10.2.4.1 Pursuit of achieving high operational efficiency in various industries to boost market growth 113 10.3 EUROPE 113 10.3.1 EUROPE: RECESSION IMPACT 114 FIGURE 37 EUROPE: STEAM TRAP MARKET SNAPSHOT 115 TABLE 103 EUROPE: STEAM TRAP MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 116 TABLE 104 EUROPE: STEAM TRAP MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 116 TABLE 105 EUROPE: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022, (USD MILLION) 116 TABLE 106 EUROPE: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 117 10.3.2 GERMANY 117 10.3.2.1 Rising adoption of steam traps by process industries to stimulate market growth 117 10.3.3 UK 118 10.3.3.1 Rapid expansion of industrial sector and surging demand from oil & gas sector to support market growth 118 10.3.4 FRANCE 118 10.3.4.1 Chemicals and food & beverages industries to propel demand for steam traps 118 10.3.5 REST OF EUROPE 118 10.4 ASIA PACIFIC 119 10.4.1 ASIA PACIFIC: RECESSION IMPACT 119 FIGURE 38 ASIA PACIFIC: STEAM TRAP MARKET SNAPSHOT 120 TABLE 107 ASIA PACIFIC: STEAM TRAP MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 121 TABLE 108 ASIA PACIFIC: STEAM TRAP MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 121 TABLE 109 ASIA PACIFIC: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 121 TABLE 110 ASIA PACIFIC: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 122 10.4.2 CHINA 122 10.4.2.1 Government initiatives to promote energy efficiency to create demand for steam traps 122 10.4.3 INDIA 123 10.4.3.1 Rapid industrialization and commitment to energy efficiency to drive market 123 10.4.4 JAPAN 123 10.4.4.1 Increasing focus on enhancing production capabilities and overall operational efficiency to boost requirement for steam traps 123 10.4.5 REST OF ASIA PACIFIC 123 10.5 REST OF THE WORLD (ROW) 124 10.5.1 REST OF THE WORLD: IMPACT OF RECESSION 124 TABLE 111 REST OF THE WORLD: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 124 TABLE 112 REST OF THE WORLD: STEAM TRAP MARKET, BY END-USER INDUSTRY, 2023–2028, (USD MILLION) 125 TABLE 113 REST OF THE WORLD: STEAM TRAP MARKET, BY REGION, 2019–2022 (USD MILLION) 125 TABLE 114 REST OF THE WORLD: STEAM TRAP MARKET, BY REGION, 2023–2028 (USD MILLION) 125 10.5.2 AFRICA 126 10.5.2.1 High demand from oil & gas and mining industries to boost market growth 126 10.5.3 MIDDLE EAST 126 10.5.3.1 Booming oil & gas industry to increase demand for steam traps 126 10.5.4 SOUTH AMERICA 126 10.5.4.1 Thriving mining industry to contribute to market growth 126 11 COMPETITIVE LANDSCAPE 127 11.1 OVERVIEW 127 11.2 MARKET SHARE ANALYSIS, 2022 127 TABLE 115 STEAM TRAP MARKET: DEGREE OF COMPETITION 127 FIGURE 39 MARKET SHARE ANALYSIS, 2022 128 11.3 EVALUATION MATRIX OF KEY COMPANIES, 2022 129 11.3.1 STARS 129 11.3.2 EMERGING LEADERS 129 11.3.3 PERVASIVE PLAYERS 129 11.3.4 PARTICIPANTS 129 FIGURE 40 STEAM TRAP MARKET: EVALUATION MATRIX OF KEY COMPANIES, 2022 130 11.4 COMPETITIVE SCENARIOS AND TRENDS 131 11.4.1 PRODUCT LAUNCHES AND DEVELOPMENTS 131 TABLE 116 STEAM TRAP MARKET: PRODUCT LAUNCHES AND DEVELOPMENTS, 2018–2022 131 11.4.2 DEALS 131 TABLE 117 STEAM TRAP MARKET: DEALS, 2019–2023 131 12 COMPANY PROFILES 133 (Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)* 12.1 KEY PLAYERS 133 12.1.1 SPIRAX-SARCO ENGINEERING PLC 133 TABLE 118 SPIRAX-SARCO ENGINEERING PLC: COMPANY OVERVIEW 133 FIGURE 41 SPIRAX-SARCO ENGINEERING PLC: COMPANY SNAPSHOT 134 TABLE 119 SPIRAX-SARCO ENGINEERING PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 134 TABLE 120 SPIRAX-SARCO ENGINEERING PLC: PRODUCT LAUNCHES 135 TABLE 121 SPIRAX-SARCO ENGINEERING PLC: DEALS 135 12.1.2 EMERSON ELECTRIC CO. 137 TABLE 122 EMERSON ELECTRIC CO.: COMPANY OVERVIEW 137 FIGURE 42 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT 138 TABLE 123 EMERSON ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 138 TABLE 124 EMERSON ELECTRIC CO.: DEALS 139 12.1.3 THERMAX LIMITED 141 TABLE 125 THERMAX LIMITED: COMPANY OVERVIEW 141 FIGURE 43 THERMAX LIMITED: COMPANY SNAPSHOT 142 TABLE 126 THERMAX LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 142 12.1.4 SCHLUMBERGER LIMITED 144 TABLE 127 SCHLUMBERGER LIMITED: COMPANY OVERVIEW 144 FIGURE 44 SCHLUMBERGER LIMITED: COMPANY SNAPSHOT 145 TABLE 128 SCHLUMBERGER LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 145 12.1.5 VELAN INC. 146 TABLE 129 VELAN INC.: COMPANY OVERVIEW 146 FIGURE 45 VELAN INC.: COMPANY SNAPSHOT 146 TABLE 130 VELAN INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 147 TABLE 131 VELAN INC.: DEALS 147 12.1.6 WATTS WATER TECHNOLOGIES, INC. 148 TABLE 132 WATTS WATER TECHNOLOGIES, INC.: COMPANY OVERVIEW 148 FIGURE 46 WATTS WATER TECHNOLOGIES, INC.: COMPANY SNAPSHOT 149 TABLE 133 WATTS WATER TECHNOLOGIES, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 149 12.1.7 ARMSTRONG INTERNATIONAL INC. 150 TABLE 134 ARMSTRONG INTERNATIONAL INC.: COMPANY OVERVIEW 150 TABLE 135 ARMSTRONG INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 150 TABLE 136 ARMSTRONG INTERNATIONAL INC.: DEALS 151 12.1.8 TLV CO., LTD. 152 TABLE 137 TLV CO., LTD.: COMPANY OVERVIEW 152 TABLE 138 TLV CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 152 TABLE 139 TLV CO., LTD.: PRODUCT LAUNCHES 153 12.1.9 FORBES MARSHALL 154 TABLE 140 FORBES MARSHALL: COMPANY OVERVIEW 154 TABLE 141 FORBES MARSHALL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 154 12.1.10 XYLEM 155 TABLE 142 XYLEM: COMPANY OVERVIEW 155 FIGURE 47 XYLEM: COMPANY SNAPSHOT 156 TABLE 143 XYLEM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 156 12.2 OTHER PLAYERS 157 12.2.1 WATSON MCDANIEL 157 TABLE 144 WATSON MCDANIEL: COMPANY OVERVIEW 157 12.2.2 MIYAWAKI INC. 158 TABLE 145 MIYAWAKI INC.: COMPANY OVERVIEW 158 12.2.3 HAWA ENGINEERS LTD. 159 TABLE 146 HAWA ENGINEERS LTD.: COMPANY OVERVIEW 159 12.2.4 ARI-ARMATUREN 160 TABLE 147 ARI-ARMATUREN: COMPANY OVERVIEW 160 12.2.5 VENN CO., LTD. 161 TABLE 148 VENN CO., LTD.: COMPANY OVERVIEW 161 12.2.6 AYVAZ 162 TABLE 149 AYVAZ: COMPANY OVERVIEW 162 12.2.7 NETA METAL WORKS 163 TABLE 150 NETA METAL WORKS: COMPANY OVERVIEW 163 12.2.8 THERMOMEGATECH, INC. 164 TABLE 151 THERMOMEGATECH, INC.: COMPANY OVERVIEW 164 12.2.9 TUNSTALL 165 TABLE 152 TUNSTALL: COMPANY OVERVIEW 165 12.2.10 THERMAL ENERGY INTERNATIONAL INC. 166 TABLE 153 THERMAL ENERGY INTERNATIONAL INC.: COMPANY OVERVIEW 166 12.2.11 BARNES & JONES, LLC 167 TABLE 154 BARNES & JONES, LLC: COMPANY OVERVIEW 167 12.2.12 ESCO GROUP OF COMPANIES 168 TABLE 155 ESCO GROUP OF COMPANIES: COMPANY OVERVIEW 168 12.2.13 UNITED BRASS WORKS 169 TABLE 156 UNITED BRASS WORKS: COMPANY OVERVIEW 169 12.2.14 COLTON INDUSTRIES 170 TABLE 157 COLTON INDUSTRIES: COMPANY OVERVIEW 170 12.2.15 RICHARDS INDUSTRIALS 171 TABLE 158 RICHARDS INDUSTRIALS: COMPANY OVERVIEW 171 *Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies. 13 ADJACENT AND RELATED MARKETS 172 13.1 INTRODUCTION 172 13.2 STUDY LIMITATIONS 172 13.3 INDUSTRIAL VALVES MARKET, BY COMPONENT 173 13.3.1 INTRODUCTION 173 FIGURE 48 INDUSTRIAL VALVES MARKET, BY COMPONENT 173 TABLE 159 INDUSTRIAL VALVES MARKET, BY COMPONENT, 2019–2022 (USD MILLION) 173 TABLE 160 INDUSTRIAL VALVES MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 173 13.4 ACTUATORS 174 13.4.1 PNEUMATIC ACTUATORS 174 13.4.1.1 Diaphragm actuators 174 13.4.1.1.1 Suitable for control valves used in oil & gas industry 174 13.4.1.2 Piston actuators 174 13.4.1.2.1 Designed for butterfly valves used in food, chemicals, and pharmaceutical industries 174 13.4.2 ELECTRIC ACTUATORS 174 13.4.2.1 Wide use in water & wastewater treatment and chemical plants to boost segmental growth 174 13.4.3 HYDRAULIC ACTUATORS 175 13.4.3.1 Integration of hydraulic actuators in HVAC, fire protection, and irrigation systems to propel market growth 175 TABLE 161 ACTUATORS: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 175 TABLE 162 ACTUATORS: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 175 13.5 VALVE BODY 175 13.5.1 RISING DEMAND FOR VALVE BODIES FEATURING HIGH CORROSION RESISTANCE AND BETTER CHEMICAL COMPATIBILITY TO SUPPORT SEGMENTAL GROWTH 175 13.6 OTHER COMPONENTS 176 14 APPENDIX 177 14.1 INSIGHTS FROM INDUSTRY EXPERTS 177 14.2 DISCUSSION GUIDE 178 14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 180 14.4 CUSTOMIZATION OPTIONS 182 14.5 RELATED REPORTS 182 14.6 AUTHOR DETAILS 183
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