Steam Trap Market by Mechanical (Ball Float, Inverted Bucket), Thermodynamic, Thermostatic (Balanced Pressure, Bimetallic, Liquid Expansion, Bellowed), Steel, Iron, Tracing, Drip, Process, Screwed, Flanged, Swivel, Oil & Gas - Global Forecast to 2029
The global steam trap market was valued at USD 4.57 billion in 2024 and is projected to reach USD 5.57 billion by 2029; it is expected to register a CAGR of 4.1% during the forecast period. Rising demand for energy-efficient systems is driving the growth of the steam trap market. Whereas need for substantial recurring and operational expenses is restraining the growth of the steam trap market.
“Thermodynamic segment is expected to account for the largest share in steam trap market.”
Thermodynamic steam traps rely on the mechanism of temperature differential, which can distinguish between the hot live steam and relatively cold condensate. Thermodynamic steam traps are generally offered at competitive prices that make them an attractive choice for business looking for optimization of energy cost. Further, due to the fact that such steam traps are available from most manufacturers, procurement is achieved easily and continuously without constraints relating to size or scale of any industry. Not only does this widespread availability make purchasing easier, but also the flexibility in sourcing is feasible as firms can purchase from several suppliers for the needs perceived to be met by the specific requirements, such as price, quality, and delivery times.
'Steel segment is likely to hold the largest share in steam trap market in 2024.”
Steel steam traps holds the largest share of the steam trap market due to their great strength and tensile strength, along with their resistance capabilities to pressures and high temperature. These properties make them more suitable for demanding industrial applications in oil & gas, chemical, and energy & power industry groups where performance consistency and long service life are crucial. Steel steam traps have fewer corrosion properties and, therefore, find preference in aggressive or hazardous fluids. The widespread nature across different industries, which provides consistent results under rough operating conditions, contributes to a leading position in the market for steel steam traps.
“Asia Pacific is expected to hold the largest market share of the steam trap market in 2029.”
Asia Pacific is expected to hold the largest market share of the steam trap market due to the region's extensive industrialization and expanding infrastructure. Industries like oil and gas, chemicals, food and beverages, pharmaceuticals, require steam traps; they enhance the efficiency of steam management and provide a loss in energy. In addition, requirements for energy in developing countries across Asia pacific are growing, and hence the development of power plants is on the rise, with the resultant growth of steam trap demand in the steam-based energy system. The large infrastructure projects of industrial facilities and energy plants that started long ago has increased the demand for steam traps, and with this trend, Asia Pacific has maintained its leading position in the market.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
Research Coverage:
The report segments the steam trap market and forecasts its size by product type, connection, body material, pressure, size, application, end user industry, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions—North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the steam trap ecosystem.
Key Benefits to Buy the Report:
“Thermodynamic segment is expected to account for the largest share in steam trap market.”
Thermodynamic steam traps rely on the mechanism of temperature differential, which can distinguish between the hot live steam and relatively cold condensate. Thermodynamic steam traps are generally offered at competitive prices that make them an attractive choice for business looking for optimization of energy cost. Further, due to the fact that such steam traps are available from most manufacturers, procurement is achieved easily and continuously without constraints relating to size or scale of any industry. Not only does this widespread availability make purchasing easier, but also the flexibility in sourcing is feasible as firms can purchase from several suppliers for the needs perceived to be met by the specific requirements, such as price, quality, and delivery times.
'Steel segment is likely to hold the largest share in steam trap market in 2024.”
Steel steam traps holds the largest share of the steam trap market due to their great strength and tensile strength, along with their resistance capabilities to pressures and high temperature. These properties make them more suitable for demanding industrial applications in oil & gas, chemical, and energy & power industry groups where performance consistency and long service life are crucial. Steel steam traps have fewer corrosion properties and, therefore, find preference in aggressive or hazardous fluids. The widespread nature across different industries, which provides consistent results under rough operating conditions, contributes to a leading position in the market for steel steam traps.
“Asia Pacific is expected to hold the largest market share of the steam trap market in 2029.”
Asia Pacific is expected to hold the largest market share of the steam trap market due to the region's extensive industrialization and expanding infrastructure. Industries like oil and gas, chemicals, food and beverages, pharmaceuticals, require steam traps; they enhance the efficiency of steam management and provide a loss in energy. In addition, requirements for energy in developing countries across Asia pacific are growing, and hence the development of power plants is on the rise, with the resultant growth of steam trap demand in the steam-based energy system. The large infrastructure projects of industrial facilities and energy plants that started long ago has increased the demand for steam traps, and with this trend, Asia Pacific has maintained its leading position in the market.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type - Tier 1 – 40%, Tier 2 – 35%, Tier 3 – 25%
- By Designation— C-level Executives - 45%, Directors - 35%, Others - 20%
- By Region—North America - 30%, Europe - 25%, Asia Pacific - 40%, RoW - 5%
Research Coverage:
The report segments the steam trap market and forecasts its size by product type, connection, body material, pressure, size, application, end user industry, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions—North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the steam trap ecosystem.
Key Benefits to Buy the Report:
- Analysis of key drivers (Rising demand for energy efficient steam systems, increasing integration of automation in steam systems and need to enhance manufacturing efficiency and compliance with environmental regulations). Restraint (Need for substantial recurring and operational expenses), Opportunity (Rapid economic growth in emerging economies, Integration of steam traps with IoT sensors), Challenges (Lack of awareness about benefits of steam trap systems).
- Product Development/Innovation: Detailed insights on upcoming technologies, research and 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 and services, untapped geographies, recent developments, and investments in the steam trap market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Spirax Group plc (UK), Emerson Electric Co. (US), Thermax Limited (India), SLB (US), Velan Inc (Canada) among others in the steam trap market.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED AND REGIONAL SCOPE
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNIT CONSIDERED
1.6 STAKEHOLDERS
1.7 LIMITATIONS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 List of key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 List of primary interview participants
2.1.2.2 Breakdown of primaries
2.1.2.3 Key data from primary sources
2.1.2.4 Key industry insights
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION METHODOLOGY
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to estimate market size using bottom-up analysis
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to estimate market size using top-down analysis
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.5 RESEARCH LIMITATIONS
2.6 RISK ANALYSIS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN STEAM TRAP MARKET
4.2 STEAM TRAP MARKET, BY PRODUCT TYPE
4.3 STEAM TRAP MARKET, BY CONNECTION
4.4 STEAM TRAP MARKET, BY BODY MATERIAL
4.5 STEAM TRAP MARKET, BY PRESSURE
4.6 STEAM TRAP MARKET, BY SIZE
4.7 STEAM TRAP MARKET, BY APPLICATION
4.8 STEAM TRAP MARKET, BY END-USE INDUSTRY
4.9 STEAM TRAP MARKET, BY REGION
4.10 STEAM TRAP MARKET, BY COUNTRY
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing demand for energy-efficient steam systems
5.2.1.2 Shift toward automation
5.2.1.3 Need to comply with environmental regulations
5.2.2 RESTRAINTS
5.2.2.1 High costs associated with maintenance and inspection
5.2.3 OPPORTUNITIES
5.2.3.1 Rapid industrialization and expanding manufacturing sectors in developing countries
5.2.3.2 Integration of steam traps with IoT sensors
5.2.4 CHALLENGES
5.2.4.1 Lack of awareness about benefits of steam trap systems
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.4 PRICING ANALYSIS
5.4.1 AVERAGE SELLING PRICE TREND OF STEAM TRAPS OFFERED
BY KEY PLAYERS, BY PRODUCT TYPE, 2021–2023 (USD)
5.4.2 AVERAGE SELLING PRICE TREND OF STEAM TRAPS, 2019–2023
5.4.3 AVERAGE SELLING PRICE TREND OF STEAM TRAPS, BY REGION, 2019–2023
5.5 VALUE CHAIN ANALYSIS
5.6 ECOSYSTEM ANALYSIS
5.7 INVESTMENT AND FUNDING SCENARIO
5.8 IMPACT OF AI/GENERATIVE AI ON STEAM TRAP MARKET
5.8.1 INTRODUCTION
5.9 TECHNOLOGY ANALYSIS
5.9.1 KEY TECHNOLOGIES
5.9.1.1 Remote monitoring
5.9.1.2 IoT
5.9.2 COMPLIMENTARY TECHNOLOGIES
5.9.2.1 Energy management systems
5.9.3 ADJACENT TECHNOLOGIES
5.9.3.1 Ultrasonic testing
5.10 PATENT ANALYSIS
5.11 TRADE ANALYSIS
5.11.1 IMPORT DATA (HS CODE 8481)
5.11.2 EXPORT DATA (HS CODE 8481)
5.12 KEY CONFERENCES AND EVENTS, 2024–2026
5.13 CASE STUDY ANALYSIS
5.13.1 SPIRAX GROUP OFFERED TRAPTEST VKP TO BASF THAT RESULTED IN SIGNIFICANT COST SAVINGS
5.13.2 UNIVERSITY OF NOTRE DAM COLLABORATED WITH ARMSTRONG INTERNATIONAL TO IMPLEMENT STEAM TRAP MANAGEMENT PROGRAM THAT REGULATED CO2 EMISSIONS AND REDUCED OPERATIONAL COSTS
5.13.3 PACKAGING FACILITY IN US IMPLEMENTED KADANT JOHNSON 45-SERIES THAT IMPROVED HEAT TRANSFERS
5.14 TARIFF AND REGULATORY LANDSCAPE
5.14.1 TARIFF ANALYSIS
5.14.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.14.3 STANDARDS
5.15 PORTER'S FIVE FORCES ANALYSIS
5.15.1 THREAT OF NEW ENTRANTS
5.15.2 THREAT OF SUBSTITUTES
5.15.3 BARGAINING POWER OF BUYERS
5.15.4 BARGAINING POWER OF SUPPLIERS
5.15.5 INTENSITY OF COMPETITIVE RIVALRY
5.16 KEY STAKEHOLDERS AND BUYING CRITERIA
5.16.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.16.2 BUYING CRITERIA
6 STEAM TRAP MARKET, BY PRODUCT TYPE
6.1 INTRODUCTION
6.2 MECHANICAL
6.2.1 BALL FLOAT STEAM TRAPS
6.2.1.1 Increasing demand for customized options to foster market growth
6.2.2 INVERTED BUCKET STEAM TRAPS
6.2.2.1 Government-led initiatives to boost adoption of advanced steam management solutions to fuel market growth
6.3 THERMODYNAMIC
6.3.1 DISC STEAM TRAPS
6.3.1.1 Increasing focus on energy efficiency to foster market growth
6.3.2 PISTON TYPE STEAM TRAPS
6.3.2.1 Growing emphasis on minimizing energy wastage to accelerate demand
6.4 THERMOSTATIC
6.4.1 BALANCED PRESSURE STEAM TRAPS
6.4.1.1 Ability to minimize steam loss and optimize condensate discharge to boost demand
6.4.2 BIMETALLIC STEAM TRAPS
6.4.2.1 Ability to withstand high temperatures and pressures to foster market growth
6.4.3 LIQUID EXPANSION STEAM TRAPS
6.4.3.1 Stringent regulations to enhance energy efficiency and monitor emissions to accelerate demand
6.4.4 BELLOWS STEAM TRAPS
6.4.4.1 Reduced maintenance requirements with effective venting capabilities to boost demand
7 STEAM TRAP MARKET, BY CONNECTION
7.1 INTRODUCTION
7.2 SCREWED
7.2.1 INCREASING APPLICATION IN SMALL TO MEDIUM-SIZED STEAM SYSTEMS TO DRIVE MARKET
7.3 FLANGED
7.3.1 EASE OF INSTALLATION AND MAINTENANCE TO BOOST DEMAND
7.4 SOCKET WELDED
7.4.1 RISING DEMAND FOR EFFICIENT AND HIGH-PERFORMING SYSTEMS TO FOSTER MARKET GROWTH
7.5 OTHER CONNECTIONS
7.5.1 SWIVEL
7.5.2 BUTT WELD
8 STEAM TRAP MARKET, BY BODY MATERIAL
8.1 INTRODUCTION
8.2 STEEL
8.2.1 GROWING DEMAND FOR CORROSION-RESISTANT MATERIALS TO ACCELERATE DEMAND
8.3 IRON
8.3.1 RISING DEMAND FOR FLEXIBLE AND CRACK-RESISTANT MATERIALS TO FUEL MARKET GROWTH
8.4 OTHER BODY MATERIALS
8.4.1 BRASS
8.4.2 BRONZE
9 STEAM TRAP MARKET, BY PRESSURE
9.1 INTRODUCTION
9.2 ? 10 BARS
9.2.1 INCREASING APPLICATION IN FOOD PROCESSING, TEXTILES, AND COMMERCIAL HEATING SYSTEMS TO DRIVE MARKET
9.3 >10 BARS–? 25 BARS
9.3.1 RISING EMPHASIS ON ADOPTION OF SUSTAINABLE MANUFACTURING PROCESSES TO FOSTER MARKET GROWTH
9.4 >25 BARS
9.4.1 RISING NEED FOR ENERGY EFFICIENCY IN POWER AND INDUSTRIAL SECTORS TO ACCELERATE DEMAND
10 STEAM TRAP MARKET, BY SIZE
10.1 INTRODUCTION
10.2 ?DN 25
10.2.1 INCREASING IMPLEMENTATION IN COMPACT AND LIGHTWEIGHT SYSTEMS TO BOOST DEMAND
10.3 >DN 25–?DN 65
10.3.1 RISING APPLICATION IN POWER GENERATION AND CHEMICAL PROCESSING TO FOSTER MARKET GROWTH
10.4 > DN 65
10.4.1 GROWING EMPHASIS ON BOOSTING ENERGY EFFICIENCY AND REDUCING EMISSIONS TO DRIVE MARKET
11 STEAM TRAP MARKET, BY APPLICATION
11.1 INTRODUCTION
11.2 TRACING
11.2.1 RISING FOCUS ON ADOPTING ENERGY-SAVING TECHNOLOGIES TO FUEL MARKET GROWTH
11.3 DRIP
11.3.1 ABILITY TO MINIMIZE STEAM LOSS TO BOOST DEMAND
11.4 PROCESS
11.4.1 INCREASING APPLICATION IN PHARMACEUTICALS AND FOOD & BEVERAGE MANUFACTURING TO DRIVE MARKET
12 STEAM TRAP MARKET, BY END-USE INDUSTRY
12.1 INTRODUCTION
12.2 CHEMICALS
12.2.1 GROWING INVESTMENTS IN R&D TO BOOST DEMAND
12.2.2 ROLL DRYERS
12.2.3 CONCENTRATORS
12.2.4 JACKETED MIXING TANKS
12.2.5 REACTOR KETTLES
12.2.6 ACETONE VAPORIZERS
12.2.7 CONICAL DRYERS
12.2.8 PURIFYING KETTLES
12.3 ENERGY & POWER
12.3.1 RISING EMPHASIS ON DECARBONIZING ENERGY-INTENSIVE INDUSTRIES TO DRIVE MARKET
12.3.2 TURBINE EXHAUSTS
12.3.3 AUXILIARY SYSTEMS
12.4 FOOD & BEVERAGES
12.4.1 INCREASING REGULATORY SCRUTINY FOR FOOD SAFETY TO FOSTER MARKET GROWTH
12.4.2 BOIL POUCHES
12.4.3 STEAM KETTLES
12.4.4 BOTTLE WASHERS
12.4.5 PLATE HEATERS
12.4.6 JACKETED KETTLES
12.4.7 BOILING KETTLES
12.5 OIL & GAS
12.5.1 GOVERNMENT-LED INITIATIVES TO ENHANCE ENERGY EFFICIENCY TO FUEL MARKET GROWTH
12.5.2 VAPORIZERS
12.5.3 TANK HEATING
12.5.4 HEAT EXCHANGERS
12.5.5 CONCENTRATORS
12.5.6 REACTOR KETTLES
12.6 PHARMACEUTICALS
12.6.1 INCREASING NEED FOR ENERGY-EFFICIENT OPERATIONS IN PHARMACEUTICAL MANUFACTURING TO ACCELERATE DEMAND
12.6.2 SANITIZATION
12.6.3 STERILIZATION
12.7 TEXTILES
12.7.1 RISING NEED TO MAINTAIN OPTIMAL STEAM PRESSURE TO DRIVE MARKET
12.7.2 EMBOSSING ROLLS
12.7.3 ROLL DRYERS
12.7.4 HOT AIR DRYERS
12.7.5 CYLINDER DRYERS
12.7.6 DYE TANKS
12.8 OTHER END-USE INDUSTRIES
12.8.1 METALS & MINING
12.8.2 PULP & PAPER
12.8.3 WATER & WASTEWATER TREATMENT
13 STEAM TRAP MARKET, BY REGION
13.1 INTRODUCTION
13.2 NORTH AMERICA
13.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA
13.2.2 US
13.2.2.1 Increasing focus on energy efficiency and process optimization to boost demand
13.2.3 CANADA
13.2.3.1 Growing emphasis on sustainability and energy conservation to drive market
13.2.4 MEXICO
13.2.4.1 Rising demand from manufacturing and energy sectors to fuel market growth
13.3 EUROPE
13.3.1 MACROECONOMIC OUTLOOK FOR EUROPE
13.3.2 GERMANY
13.3.2.1 Increasing adoption of eco-friendly practices to foster market growth
13.3.3 UK
13.3.3.1 Surging revenues from oil & gas production to drive market
13.3.4 FRANCE
13.3.4.1 Growing emphasis on decarbonization to boost demand
13.3.5 REST OF EUROPE
13.4 ASIA PACIFIC
13.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC
13.4.2 CHINA
13.4.2.1 Thriving manufacturing sector to offer lucrative growth opportunities
13.4.3 INDIA
13.4.3.1 Rapid industrial expansion to drive market
13.4.4 JAPAN
13.4.4.1 Rising focus on reducing CO2 emissions to drive demand
13.4.5 REST OF ASIA PACIFIC
13.5 ROW
13.5.1 MACROECONOMIC OUTLOOK FOR ROW
13.5.2 MIDDLE EAST & AFRICA
13.5.2.1 Thriving oil & gas sector to foster market growth
13.5.2.2 GCC
13.5.2.3 Rest of Middle East & Africa
13.5.3 SOUTH AMERICA
13.5.3.1 Increasing emphasis on lowering carbon footprint to drive market
14 COMPETITIVE LANDSCAPE
14.1 OVERVIEW
14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022–2024
14.3 REVENUE ANALYSIS, 2019–2023
14.4 MARKET SHARE ANALYSIS, 2023
14.5 COMPANY VALUATION AND FINANCIAL METRICS, 2023
14.6 PRODUCT COMPARISON
14.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
14.7.1 STARS
14.7.2 EMERGING LEADERS
14.7.3 PERVASIVE PLAYERS
14.7.4 PARTICIPANTS
14.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
14.7.5.1 Company footprint
14.7.5.2 Region footprint
14.7.5.3 Product type footprint
14.7.5.4 Body material footprint
14.7.5.5 Connection footprint
14.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
14.8.1 PROGRESSIVE COMPANIES
14.8.2 RESPONSIVE COMPANIES
14.8.3 DYNAMIC COMPANIES
14.8.4 STARTING BLOCKS
14.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
14.8.5.1 Detailed list of key startups/SMEs
14.8.5.2 Competitive benchmarking of key startups/SMEs
14.9 COMPETITIVE SCENARIO
14.9.1 PRODUCT LAUNCHES
14.9.2 DEALS
15 COMPANY PROFILES
15.1 KEY PLAYERS
15.1.1 SPIRAX GROUP PLC
15.1.1.1 Business overview
15.1.1.2 Products/Solutions/Services offered
15.1.1.3 Recent developments
15.1.1.3.1 Deals
15.1.1.4 MnM view
15.1.1.4.1 Key strengths/Right to win
15.1.1.4.2 Strategic choices
15.1.1.4.3 Weaknesses/Competitive threats
15.1.2 EMERSON ELECTRIC CO.
15.1.2.1 Business overview
15.1.2.2 Products/Solutions/Services offered
15.1.2.3 Recent developments
15.1.2.3.1 Deals
15.1.2.4 MnM view
15.1.2.4.1 Key strengths/Right to win
15.1.2.4.2 Strategic choices
15.1.2.4.3 Weaknesses/Competitive threats
15.1.3 VELAN INC.
15.1.3.1 Business overview
15.1.3.2 Products/Solutions/Services offered
15.1.3.3 MnM view
15.1.3.3.1 Key strengths/Right to win
15.1.3.3.2 Strategic choices
15.1.3.3.3 Weaknesses/Competitive threats
15.1.4 WATTS
15.1.4.1 Business overview
15.1.4.2 Products/Solutions/Services offered
15.1.4.3 Recent developments
15.1.4.3.1 Deals
15.1.4.4 MnM view
15.1.4.4.1 Key strengths/Right to win
15.1.4.4.2 Strategic choices
15.1.4.4.3 Weaknesses/Competitive threats
15.1.5 XYLEM
15.1.5.1 Business overview
15.1.5.2 Products/Solutions/Services offered
15.1.5.3 Recent developments
15.1.5.3.1 Deals
15.1.5.4 MnM view
15.1.5.4.1 Key strengths/Right to win
15.1.5.4.2 Strategic choices
15.1.5.4.3 Weaknesses/Competitive threats
15.1.6 THERMAX LIMITED
15.1.6.1 Business overview
15.1.6.2 Products/Solutions/Services offered
15.1.7 SLB
15.1.7.1 Business overview
15.1.7.2 Products/Solutions/Services offered
15.1.8 ARMSTRONG INTERNATIONAL INC.
15.1.8.1 Business overview
15.1.8.2 Products/Solutions/Services offered
15.1.9 TLV CO., LTD.
15.1.9.1 Business overview
15.1.9.2 Products/Solutions/Services offered
15.1.9.3 Recent developments
15.1.9.3.1 Product launches
15.1.10 FORBES MARSHALL
15.1.10.1 Business overview
15.1.10.2 Products/Solutions/Services offered
15.2 OTHER PLAYERS
15.2.1 WATSON MCDANIEL
15.2.2 MIYAWAKI INC.
15.2.3 HAWA ENGINEERS LTD
15.2.4 ARI-ARMATUREN
15.2.5 VENN.CO, LTD
15.2.6 AYVAZ
15.2.7 NETA METAL WORKS
15.2.8 THERMOMEGATECH, INC.
15.2.9 TUNSTALL
15.2.10 THERMAL ENERGY INTERNATIONAL INC.
15.2.11 BARNES & JONES, LLC
15.2.12 ESCO GROUP OF COMPANIES
15.2.13 UNITED BRASS WORKS
15.2.14 COLTON INDUSTRIES
15.2.15 RICHARDS INDUSTRIALS
16 APPENDIX
16.1 INSIGHTS FROM INDUSTRY EXPERTS
16.2 DISCUSSION GUIDE
16.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
16.4 CUSTOMIZATION OPTIONS
16.5 RELATED REPORTS
16.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED AND REGIONAL SCOPE
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNIT CONSIDERED
1.6 STAKEHOLDERS
1.7 LIMITATIONS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 List of key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 List of primary interview participants
2.1.2.2 Breakdown of primaries
2.1.2.3 Key data from primary sources
2.1.2.4 Key industry insights
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION METHODOLOGY
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to estimate market size using bottom-up analysis
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to estimate market size using top-down analysis
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.5 RESEARCH LIMITATIONS
2.6 RISK ANALYSIS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN STEAM TRAP MARKET
4.2 STEAM TRAP MARKET, BY PRODUCT TYPE
4.3 STEAM TRAP MARKET, BY CONNECTION
4.4 STEAM TRAP MARKET, BY BODY MATERIAL
4.5 STEAM TRAP MARKET, BY PRESSURE
4.6 STEAM TRAP MARKET, BY SIZE
4.7 STEAM TRAP MARKET, BY APPLICATION
4.8 STEAM TRAP MARKET, BY END-USE INDUSTRY
4.9 STEAM TRAP MARKET, BY REGION
4.10 STEAM TRAP MARKET, BY COUNTRY
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing demand for energy-efficient steam systems
5.2.1.2 Shift toward automation
5.2.1.3 Need to comply with environmental regulations
5.2.2 RESTRAINTS
5.2.2.1 High costs associated with maintenance and inspection
5.2.3 OPPORTUNITIES
5.2.3.1 Rapid industrialization and expanding manufacturing sectors in developing countries
5.2.3.2 Integration of steam traps with IoT sensors
5.2.4 CHALLENGES
5.2.4.1 Lack of awareness about benefits of steam trap systems
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.4 PRICING ANALYSIS
5.4.1 AVERAGE SELLING PRICE TREND OF STEAM TRAPS OFFERED
BY KEY PLAYERS, BY PRODUCT TYPE, 2021–2023 (USD)
5.4.2 AVERAGE SELLING PRICE TREND OF STEAM TRAPS, 2019–2023
5.4.3 AVERAGE SELLING PRICE TREND OF STEAM TRAPS, BY REGION, 2019–2023
5.5 VALUE CHAIN ANALYSIS
5.6 ECOSYSTEM ANALYSIS
5.7 INVESTMENT AND FUNDING SCENARIO
5.8 IMPACT OF AI/GENERATIVE AI ON STEAM TRAP MARKET
5.8.1 INTRODUCTION
5.9 TECHNOLOGY ANALYSIS
5.9.1 KEY TECHNOLOGIES
5.9.1.1 Remote monitoring
5.9.1.2 IoT
5.9.2 COMPLIMENTARY TECHNOLOGIES
5.9.2.1 Energy management systems
5.9.3 ADJACENT TECHNOLOGIES
5.9.3.1 Ultrasonic testing
5.10 PATENT ANALYSIS
5.11 TRADE ANALYSIS
5.11.1 IMPORT DATA (HS CODE 8481)
5.11.2 EXPORT DATA (HS CODE 8481)
5.12 KEY CONFERENCES AND EVENTS, 2024–2026
5.13 CASE STUDY ANALYSIS
5.13.1 SPIRAX GROUP OFFERED TRAPTEST VKP TO BASF THAT RESULTED IN SIGNIFICANT COST SAVINGS
5.13.2 UNIVERSITY OF NOTRE DAM COLLABORATED WITH ARMSTRONG INTERNATIONAL TO IMPLEMENT STEAM TRAP MANAGEMENT PROGRAM THAT REGULATED CO2 EMISSIONS AND REDUCED OPERATIONAL COSTS
5.13.3 PACKAGING FACILITY IN US IMPLEMENTED KADANT JOHNSON 45-SERIES THAT IMPROVED HEAT TRANSFERS
5.14 TARIFF AND REGULATORY LANDSCAPE
5.14.1 TARIFF ANALYSIS
5.14.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.14.3 STANDARDS
5.15 PORTER'S FIVE FORCES ANALYSIS
5.15.1 THREAT OF NEW ENTRANTS
5.15.2 THREAT OF SUBSTITUTES
5.15.3 BARGAINING POWER OF BUYERS
5.15.4 BARGAINING POWER OF SUPPLIERS
5.15.5 INTENSITY OF COMPETITIVE RIVALRY
5.16 KEY STAKEHOLDERS AND BUYING CRITERIA
5.16.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.16.2 BUYING CRITERIA
6 STEAM TRAP MARKET, BY PRODUCT TYPE
6.1 INTRODUCTION
6.2 MECHANICAL
6.2.1 BALL FLOAT STEAM TRAPS
6.2.1.1 Increasing demand for customized options to foster market growth
6.2.2 INVERTED BUCKET STEAM TRAPS
6.2.2.1 Government-led initiatives to boost adoption of advanced steam management solutions to fuel market growth
6.3 THERMODYNAMIC
6.3.1 DISC STEAM TRAPS
6.3.1.1 Increasing focus on energy efficiency to foster market growth
6.3.2 PISTON TYPE STEAM TRAPS
6.3.2.1 Growing emphasis on minimizing energy wastage to accelerate demand
6.4 THERMOSTATIC
6.4.1 BALANCED PRESSURE STEAM TRAPS
6.4.1.1 Ability to minimize steam loss and optimize condensate discharge to boost demand
6.4.2 BIMETALLIC STEAM TRAPS
6.4.2.1 Ability to withstand high temperatures and pressures to foster market growth
6.4.3 LIQUID EXPANSION STEAM TRAPS
6.4.3.1 Stringent regulations to enhance energy efficiency and monitor emissions to accelerate demand
6.4.4 BELLOWS STEAM TRAPS
6.4.4.1 Reduced maintenance requirements with effective venting capabilities to boost demand
7 STEAM TRAP MARKET, BY CONNECTION
7.1 INTRODUCTION
7.2 SCREWED
7.2.1 INCREASING APPLICATION IN SMALL TO MEDIUM-SIZED STEAM SYSTEMS TO DRIVE MARKET
7.3 FLANGED
7.3.1 EASE OF INSTALLATION AND MAINTENANCE TO BOOST DEMAND
7.4 SOCKET WELDED
7.4.1 RISING DEMAND FOR EFFICIENT AND HIGH-PERFORMING SYSTEMS TO FOSTER MARKET GROWTH
7.5 OTHER CONNECTIONS
7.5.1 SWIVEL
7.5.2 BUTT WELD
8 STEAM TRAP MARKET, BY BODY MATERIAL
8.1 INTRODUCTION
8.2 STEEL
8.2.1 GROWING DEMAND FOR CORROSION-RESISTANT MATERIALS TO ACCELERATE DEMAND
8.3 IRON
8.3.1 RISING DEMAND FOR FLEXIBLE AND CRACK-RESISTANT MATERIALS TO FUEL MARKET GROWTH
8.4 OTHER BODY MATERIALS
8.4.1 BRASS
8.4.2 BRONZE
9 STEAM TRAP MARKET, BY PRESSURE
9.1 INTRODUCTION
9.2 ? 10 BARS
9.2.1 INCREASING APPLICATION IN FOOD PROCESSING, TEXTILES, AND COMMERCIAL HEATING SYSTEMS TO DRIVE MARKET
9.3 >10 BARS–? 25 BARS
9.3.1 RISING EMPHASIS ON ADOPTION OF SUSTAINABLE MANUFACTURING PROCESSES TO FOSTER MARKET GROWTH
9.4 >25 BARS
9.4.1 RISING NEED FOR ENERGY EFFICIENCY IN POWER AND INDUSTRIAL SECTORS TO ACCELERATE DEMAND
10 STEAM TRAP MARKET, BY SIZE
10.1 INTRODUCTION
10.2 ?DN 25
10.2.1 INCREASING IMPLEMENTATION IN COMPACT AND LIGHTWEIGHT SYSTEMS TO BOOST DEMAND
10.3 >DN 25–?DN 65
10.3.1 RISING APPLICATION IN POWER GENERATION AND CHEMICAL PROCESSING TO FOSTER MARKET GROWTH
10.4 > DN 65
10.4.1 GROWING EMPHASIS ON BOOSTING ENERGY EFFICIENCY AND REDUCING EMISSIONS TO DRIVE MARKET
11 STEAM TRAP MARKET, BY APPLICATION
11.1 INTRODUCTION
11.2 TRACING
11.2.1 RISING FOCUS ON ADOPTING ENERGY-SAVING TECHNOLOGIES TO FUEL MARKET GROWTH
11.3 DRIP
11.3.1 ABILITY TO MINIMIZE STEAM LOSS TO BOOST DEMAND
11.4 PROCESS
11.4.1 INCREASING APPLICATION IN PHARMACEUTICALS AND FOOD & BEVERAGE MANUFACTURING TO DRIVE MARKET
12 STEAM TRAP MARKET, BY END-USE INDUSTRY
12.1 INTRODUCTION
12.2 CHEMICALS
12.2.1 GROWING INVESTMENTS IN R&D TO BOOST DEMAND
12.2.2 ROLL DRYERS
12.2.3 CONCENTRATORS
12.2.4 JACKETED MIXING TANKS
12.2.5 REACTOR KETTLES
12.2.6 ACETONE VAPORIZERS
12.2.7 CONICAL DRYERS
12.2.8 PURIFYING KETTLES
12.3 ENERGY & POWER
12.3.1 RISING EMPHASIS ON DECARBONIZING ENERGY-INTENSIVE INDUSTRIES TO DRIVE MARKET
12.3.2 TURBINE EXHAUSTS
12.3.3 AUXILIARY SYSTEMS
12.4 FOOD & BEVERAGES
12.4.1 INCREASING REGULATORY SCRUTINY FOR FOOD SAFETY TO FOSTER MARKET GROWTH
12.4.2 BOIL POUCHES
12.4.3 STEAM KETTLES
12.4.4 BOTTLE WASHERS
12.4.5 PLATE HEATERS
12.4.6 JACKETED KETTLES
12.4.7 BOILING KETTLES
12.5 OIL & GAS
12.5.1 GOVERNMENT-LED INITIATIVES TO ENHANCE ENERGY EFFICIENCY TO FUEL MARKET GROWTH
12.5.2 VAPORIZERS
12.5.3 TANK HEATING
12.5.4 HEAT EXCHANGERS
12.5.5 CONCENTRATORS
12.5.6 REACTOR KETTLES
12.6 PHARMACEUTICALS
12.6.1 INCREASING NEED FOR ENERGY-EFFICIENT OPERATIONS IN PHARMACEUTICAL MANUFACTURING TO ACCELERATE DEMAND
12.6.2 SANITIZATION
12.6.3 STERILIZATION
12.7 TEXTILES
12.7.1 RISING NEED TO MAINTAIN OPTIMAL STEAM PRESSURE TO DRIVE MARKET
12.7.2 EMBOSSING ROLLS
12.7.3 ROLL DRYERS
12.7.4 HOT AIR DRYERS
12.7.5 CYLINDER DRYERS
12.7.6 DYE TANKS
12.8 OTHER END-USE INDUSTRIES
12.8.1 METALS & MINING
12.8.2 PULP & PAPER
12.8.3 WATER & WASTEWATER TREATMENT
13 STEAM TRAP MARKET, BY REGION
13.1 INTRODUCTION
13.2 NORTH AMERICA
13.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA
13.2.2 US
13.2.2.1 Increasing focus on energy efficiency and process optimization to boost demand
13.2.3 CANADA
13.2.3.1 Growing emphasis on sustainability and energy conservation to drive market
13.2.4 MEXICO
13.2.4.1 Rising demand from manufacturing and energy sectors to fuel market growth
13.3 EUROPE
13.3.1 MACROECONOMIC OUTLOOK FOR EUROPE
13.3.2 GERMANY
13.3.2.1 Increasing adoption of eco-friendly practices to foster market growth
13.3.3 UK
13.3.3.1 Surging revenues from oil & gas production to drive market
13.3.4 FRANCE
13.3.4.1 Growing emphasis on decarbonization to boost demand
13.3.5 REST OF EUROPE
13.4 ASIA PACIFIC
13.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC
13.4.2 CHINA
13.4.2.1 Thriving manufacturing sector to offer lucrative growth opportunities
13.4.3 INDIA
13.4.3.1 Rapid industrial expansion to drive market
13.4.4 JAPAN
13.4.4.1 Rising focus on reducing CO2 emissions to drive demand
13.4.5 REST OF ASIA PACIFIC
13.5 ROW
13.5.1 MACROECONOMIC OUTLOOK FOR ROW
13.5.2 MIDDLE EAST & AFRICA
13.5.2.1 Thriving oil & gas sector to foster market growth
13.5.2.2 GCC
13.5.2.3 Rest of Middle East & Africa
13.5.3 SOUTH AMERICA
13.5.3.1 Increasing emphasis on lowering carbon footprint to drive market
14 COMPETITIVE LANDSCAPE
14.1 OVERVIEW
14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022–2024
14.3 REVENUE ANALYSIS, 2019–2023
14.4 MARKET SHARE ANALYSIS, 2023
14.5 COMPANY VALUATION AND FINANCIAL METRICS, 2023
14.6 PRODUCT COMPARISON
14.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
14.7.1 STARS
14.7.2 EMERGING LEADERS
14.7.3 PERVASIVE PLAYERS
14.7.4 PARTICIPANTS
14.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
14.7.5.1 Company footprint
14.7.5.2 Region footprint
14.7.5.3 Product type footprint
14.7.5.4 Body material footprint
14.7.5.5 Connection footprint
14.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
14.8.1 PROGRESSIVE COMPANIES
14.8.2 RESPONSIVE COMPANIES
14.8.3 DYNAMIC COMPANIES
14.8.4 STARTING BLOCKS
14.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
14.8.5.1 Detailed list of key startups/SMEs
14.8.5.2 Competitive benchmarking of key startups/SMEs
14.9 COMPETITIVE SCENARIO
14.9.1 PRODUCT LAUNCHES
14.9.2 DEALS
15 COMPANY PROFILES
15.1 KEY PLAYERS
15.1.1 SPIRAX GROUP PLC
15.1.1.1 Business overview
15.1.1.2 Products/Solutions/Services offered
15.1.1.3 Recent developments
15.1.1.3.1 Deals
15.1.1.4 MnM view
15.1.1.4.1 Key strengths/Right to win
15.1.1.4.2 Strategic choices
15.1.1.4.3 Weaknesses/Competitive threats
15.1.2 EMERSON ELECTRIC CO.
15.1.2.1 Business overview
15.1.2.2 Products/Solutions/Services offered
15.1.2.3 Recent developments
15.1.2.3.1 Deals
15.1.2.4 MnM view
15.1.2.4.1 Key strengths/Right to win
15.1.2.4.2 Strategic choices
15.1.2.4.3 Weaknesses/Competitive threats
15.1.3 VELAN INC.
15.1.3.1 Business overview
15.1.3.2 Products/Solutions/Services offered
15.1.3.3 MnM view
15.1.3.3.1 Key strengths/Right to win
15.1.3.3.2 Strategic choices
15.1.3.3.3 Weaknesses/Competitive threats
15.1.4 WATTS
15.1.4.1 Business overview
15.1.4.2 Products/Solutions/Services offered
15.1.4.3 Recent developments
15.1.4.3.1 Deals
15.1.4.4 MnM view
15.1.4.4.1 Key strengths/Right to win
15.1.4.4.2 Strategic choices
15.1.4.4.3 Weaknesses/Competitive threats
15.1.5 XYLEM
15.1.5.1 Business overview
15.1.5.2 Products/Solutions/Services offered
15.1.5.3 Recent developments
15.1.5.3.1 Deals
15.1.5.4 MnM view
15.1.5.4.1 Key strengths/Right to win
15.1.5.4.2 Strategic choices
15.1.5.4.3 Weaknesses/Competitive threats
15.1.6 THERMAX LIMITED
15.1.6.1 Business overview
15.1.6.2 Products/Solutions/Services offered
15.1.7 SLB
15.1.7.1 Business overview
15.1.7.2 Products/Solutions/Services offered
15.1.8 ARMSTRONG INTERNATIONAL INC.
15.1.8.1 Business overview
15.1.8.2 Products/Solutions/Services offered
15.1.9 TLV CO., LTD.
15.1.9.1 Business overview
15.1.9.2 Products/Solutions/Services offered
15.1.9.3 Recent developments
15.1.9.3.1 Product launches
15.1.10 FORBES MARSHALL
15.1.10.1 Business overview
15.1.10.2 Products/Solutions/Services offered
15.2 OTHER PLAYERS
15.2.1 WATSON MCDANIEL
15.2.2 MIYAWAKI INC.
15.2.3 HAWA ENGINEERS LTD
15.2.4 ARI-ARMATUREN
15.2.5 VENN.CO, LTD
15.2.6 AYVAZ
15.2.7 NETA METAL WORKS
15.2.8 THERMOMEGATECH, INC.
15.2.9 TUNSTALL
15.2.10 THERMAL ENERGY INTERNATIONAL INC.
15.2.11 BARNES & JONES, LLC
15.2.12 ESCO GROUP OF COMPANIES
15.2.13 UNITED BRASS WORKS
15.2.14 COLTON INDUSTRIES
15.2.15 RICHARDS INDUSTRIALS
16 APPENDIX
16.1 INSIGHTS FROM INDUSTRY EXPERTS
16.2 DISCUSSION GUIDE
16.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
16.4 CUSTOMIZATION OPTIONS
16.5 RELATED REPORTS
16.6 AUTHOR DETAILS
