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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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MarketsandMarkets
マーケッツアンドマーケッツ
2023年8月30日 US$4,950
シングルユーザライセンス
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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.

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目次

1 INTRODUCTION 26
1.1 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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Summary

The 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.
“The thermostatic steam trap market is expected to grow at the highest CAGR during the forecast period”
The thermostatic steam trap market is expected to grow at the highest CAGR during the forecast period. Thermostatic steam traps offer a sophisticated solution for optimizing steam management by efficiently modulating steam flow based on temperature changes. This dynamic capability ensures energy conservation and prevents unnecessary steam wastage, aligning seamlessly with industries’ intensified focus on operational efficiency and resource utilization. Moreover, their reliable performance and relatively low maintenance requirements make them attractive for industries seeking efficient and cost-effective steam management solutions.
“Steel body material segment is expected to dominate the steam trap market throughout the forecast period”
The steel body material segment is expected to account for the largest size of the steam trap market throughout the forecast period. Steel’s exceptional durability and corrosion resistance make it an ideal choice for steam trap construction, particularly in industries with harsh operating conditions. This longevity ensures prolonged performance and reduces the need for frequent replacements, resulting in cost savings and enhanced operational reliability. Furthermore, steel’s inherent strength allows for the design of robust steam traps capable of withstanding high pressure and temperature variations, further bolstering their suitability for demanding industrial applications. Moreover, steel's excellent heat conduction properties facilitate efficient condensate removal, contributing to enhanced steam trap performance and overall operational efficiency.
“Steam trap market in Asia Pacific region to register highest CAGR between 2023 and 2028”
The Steam Trap market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The region’s robust industrialization and infrastructural expansion across various sectors amplify the demand for efficient steam management solutions. As industries scale up and modernize, the imperative of optimizing energy utilization and condensate control elevates the significance of steam traps. Furthermore, governments and industries in the Asia Pacific region significantly emphasize sustainability and energy efficiency. Steam traps offer a practical way to achieve these objectives by preventing steam wastage and optimizing energy consumption. As sustainability becomes a central focus, adopting steam traps aligns with the region’s goals and regulations.

Breakdown of primaries
In determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the steam trap market space. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 – 45%, Tier 2 – 25%, and Tier 3 – 30%
• By Designation: C-level Executives – 40%, Directors – 30%, and Others – 30%
• By Region: North America –30%, Europe– 25%, Asia Pacific – 35%, and Rest of the World – 10%
Key players in the steam trap market are Spirax-Sarco Engineering plc (UK), Emerson Electric Co. (US), Schlumberger Limited (US), Thermax Limited (India), Velan Inc. (Canada), Watts Water Technologies, Inc. (US), Armstrong International Inc. (US), TLV CO., LTD. (Japan), Forbes Marshall (India), and Xylem Inc. (US) and others.
The steam trap market has been segmented into product, application, body material, end-user industry, and region. The steam trap market has been studied in North America, Europe, Asia Pacific, and the Rest of the World.
Reasons to buy the report:
The report will help the market leaders/new entrants with information on the closest approximate revenues for the steam trap and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Analysis of key drivers (Increasing demand for energy-efficient steam systems, growing adoption of automation in steam systems, and strict regulations imposed by regulatory bodies to enhance manufacturing efficiency and reduce greenhouse gas emissions), restraints (high investments required to implement steam trap systems and periodic maintenance and complexity associated with the operations of steam trap systems), opportunities (rapid economic growth in emerging economies and development of IoT sensors boost steam trap demand and reliability), and challenges (lack of awareness and benefits of steam trap systems).

• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the steam trap market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the steam trap market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the steam trap market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Spirax-Sarco Engineering plc (UK), Emerson Electric Co. (US), Schlumberger Limited (US), Thermax Limited (India), Velan Inc. (Canada), Watts Water Technologies, Inc. (US), Armstrong International Inc., among others.



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Table of Contents

1 INTRODUCTION 26
1.1 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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