Steam Trap Market Size, Share, Trends, Growth 2032

Steam Trap Industry Prospective:

The global steam trap market size was evaluated at $3.86 billion in 2023 and is slated to hit $5.45 billion by the end of 2032 with a CAGR of nearly 3.9% between 2024 and 2032.

Request Free Sample

The report covers forecasts and analysis for the global steam trap market on a global and regional level. The research report presents a comprehensive valuation of the market, competition, opportunities, emerging trends, and industry-validated market figures. The study provides historic data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).

Steam Trap Market Growth Drivers

The global steam trap market is likely to have substantial growth in the coming years and is expected to grow at a steady rate within the forecast period. There is an immense scope for the steam trap market owing to a variety of applications, technological advancements, and growing demand in the market.

Some of the benefits offered by the steam trap are reduced fuel costs, energy savings, reduction in water charges, reduction in chemical treatment costs, and reduced effluent costs.

These benefits are projected to create a huge demand for the steam trap market across the globe over the forecast years. Moreover, several stringent regulations are being undertaken by governments all around the globe to slow down the level of carbon emissions which leads to the usage of steam traps to cut down the cost of fuel and to have sustainable growth for the end-user industries which is expected to eventually bolster the growth for the steam trap market over the forecast timeline.

Steam Trap Market: Segmentation

The global steam trap market has been segmented on the basis of product, application, and end user.

Based on the product, the steam trap market is divided into thermodynamic, mechanical, and thermostatic. The thermodynamic steam trap is best fitted for the steam mains drainage owing to its long shelf life, lightweight and robust construction. Moreover, it has the additional benefit that assuring superior plant efficiency due to the discharged condensate output being very close to steam temperature. Ideally, a mechanical steam trap is used where there is a need for the removal of condensate, and at the time of sterilization, the thermostatic steam trap is a more effective solution.

Based on application, the steam trap market is segmented into a drip application, process application, and tracing application. Based on the material, the steam trap market is segmented into steel and iron.

Based on the end user, the market is segmented into the oil & gas and power industry, pharmaceuticals, food & beverage, pulp & paper, and others.

Steam Trap Market: Report Scope

Steam Trap Market: Regional Insights

Some of the major factors which are expected to fuel the steam trap market over the forecast period are the most evident heat recovery steam generator technology, cost-cutting at the time of operations, and high efficiency with optimum time.

Owing to these factors the steam trap market is expected to grow at a rapid rate over the forecast timeframe. The secondary factor that is expected to boost the demand for the steam trap is lesser carbon emission led by the usage of steam tape. Some of the factors which might hamper the growth of the steam trap market are high operational and maintenance costs, as these factors are associated with the effectiveness of the operations.

Key Market Players & Competitive Landscape:

The key players operating in the global steam trap market are:

• CIRCOR International Inc.
• Emerson Electric Co.
• Flowserve Corporation
• Pentair PLC
• Schlumberger N.V.
• Spirax-Sarco Engineering PLC
• Thermax Limited
• The Weir Group PLC
• Velan Inc.
• Watts Water Technologies Inc.
• among others.

This report segments the global steam trap market as follows:

Global Steam Trap Market: Product Segment Analysis

• Thermodynamic
• Mechanical
• Thermostatic

Global Steam Trap Market: Material Analysis

• Steel
• Iron

Global Steam Trap Market: Application Analysis

• Drip Application
• Process Application
• Tracing Application

Global Steam Trap Market: End-Use Industry Analysis

• Oil & Gas and Power Industry
• Pharmaceuticals
• Food & Beverage
• Pulp & Paper
• Others

Global Steam Trap Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa