Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 4.2 Billion | USD 5.82 Billion | 4.21% | 2022 |
FrequentlyAsked Questions
A steam trap monitor is a detecting and monitoring device that is used to analyze the performance of steam traps used in industrial settings.
The global steam trap monitor market is projected to grow owing to the increasing cost of energy across the world.
According to study, the global steam trap monitor market size was worth around USD 4.2 billion in 2022 and is predicted to grow to around USD 5.82 billion by 2030.
The CAGR value of the steam trap monitor market is expected to be around 4.21% during 2023-2030.
The global steam trap monitor market is expected to register the highest growth in North America due to the growing demand for higher energy consumption across Canada and the US.
The global steam trap monitor market is led by players like Forbes Marshall Pvt. Ltd., Armstrong International Inc., Thermax Ltd., Emerson Electric Co., Swagelok Company, Spirax-Sarco Engineering plc, Gestra AG, Siemens AG, Flowserve Corporation, Parker Hannifin Corporation, Pentair plc, Winters Instruments, Honeywell International Inc., Valmet Corporation, Yokogawa Electric Corporation, UE Systems Inc., and Endress+Hauser Group.
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