Steam Trap Market is set for a Rapid Growth and is Expected to $5.45 Billion By 2032

Zion Market Research has published a new report titled “Global Steam Trap Market Report by Product (Thermodynamic, Mechanical, and Thermostatic), by Application (Drip Application, Process Application, and Tracing Application), by Material (Steel, Iron) and by End-Use Industry (Oil & Gas and Power Industry, Pharmaceuticals, Food & Beverage, Pulp & Paper, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 – 2032”. According to the report, the Steam Trap Market accounted for $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.

Browse the full “Steam Trap Market: Report by Product (Thermodynamic, Mechanical, and Thermostatic), by Application (Drip Application, Process Application, and Tracing Application), by Material (Steel, and Iron) and by End User (Oil & Gas and Power Industry, Pharmaceuticals, Food & Beverage, Pulp & Paper, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 – 2032” Report at https://www.zionmarketresearch.com/report/steam-trap-market

The global steam trap market is expected to observe noticeable growth over the years. A steam trap is an industrial equipment that is used to release non-condensable & condensate gasses with insignificant loss of live steam, which holds back to steam and discharges condensates under changing loads or pressure. Steam traps help in providing an efficient steam system by saving energy, reducing fuel cost, and reducing water charges, reducing chemical treatment and effluent costs. Thus, by saving energy, there is a substantial reduction in the total cost of manufacturing companies which is anticipated to drive the market. In addition, the stringent norms pertaining to reduce the carbon footprint is estimated to drive the market across the globe within the forecast period.

The global steam trap market has segmented on the basis of the product, application, material, and end-use industry. On the basis of product, the steam trap market is segmented into thermodynamic, mechanical, and thermostatic. Among all these, the thermodynamic steam trap segment is expected to have a maximum market share within the forecast period. 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 assures superior plant efficiency due to the discharges condensate at very close to steam temperature. Ideally, a mechanical steam trap is used where there is a need for removal of condensate and at the time of sterilization, the thermostatic steam trap is a prominent solution. These parameters are anticipated to bolster the demand for the thermodynamic steam trap segment.

In terms of the application, the steam trap market is segmented into a drip application, process application, and tracing application. The steam trap tracing application segments are anticipated to grow at a noticeable rate within the forecast period. Tracing application is used for typical services where condensate backup is preferable and for critical services where condensate backup is not acceptable in steam lines. Material wise, the market is segmented into steel and iron. The steel steam trap segment is expected to grow at a higher pace within the forecast period. As steel helps in smooth operations of steam traps, saves energy and reduces the manufacturing cost.

In addition, steel as a body material offers enhanced durability, design flexibility, reliability of the overall steam system, cost-effectiveness and environmental benefits such as recyclability. Based on the end-use industry, the market is segmented into oil & gas and power industry, pharmaceuticals, food & beverage, pulp & paper, and others. The oil & gas segment is likely to have a maximum share within the forecast period.  This is due to the support provided by the steam traps, which helps to achieve optimum performance with regard to steam and condensate systems and help reduce energy consumption during oil & gas production activities. Henceforth, the steam trap market for oil & gas is anticipated to grow at a significant rate within the forecast period.

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

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

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