Steam Trap Market Size & Share - Industry Trend and Forecast 2017 - 2025

Research Report on "Steam Trap Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025".

The main objective of this report is to define, describe, and forecast the global “Steam Trap” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.

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A steam trap is an automatic valve that filters out condensate and non-condensable gases such as air without letting steam escape. The main function of a steam trap includes discharging condensate. It has negligible steam consumption, and has the capability of discharging air and non-condensable gases. In order to allow steam systems to perform well it is necessary to remove the condensate, air, and other non-condensable gases. The four main types of steam traps include mechanical traps, temperature traps, thermodynamic traps, and venture nozzle traps. Drip applications, process applications, and tracing applications are some of the major application areas of steam traps.

Demand for steam traps grew on account of the increase in the use of steam in various industrial applications. Using steam in industrial applications drove the need to remove condensate with the help of a valve. This process led to the leakage of steam which in turn led to the introduction of steam traps during the industrial revolution in the 18th century. Maintenance of steam traps is crucial for its safe and efficient operation. Lack of maintenance of steam traps often leads to steam leakage. Leakage of steam results in increased operational costs of the plant which uses steam since extra money is spent in generating additional steam in order to compensate for the steam lost due to leakage. Poor maintenance leads to increase in operational costs of plants using steam for its operation. Thus, effective and efficient maintenance of a steam trap is a vital factor promoting the safe and cost-effective operation of a steam trap. Therefore, for plants using steam for industrial applications, it is critical to allocate a specific budget for preventive maintenance of steam traps. Paying mechanics which can effectively perform preventive maintenance of steam trap can help enhance the operation of steam trap which in return can benefit the operation of the plant using steam for its operation. Oil & gas and energy and power sectors are two major end-users of steam traps.

The steam trap market is segmented on the basis of product, material, application, end-user, and region. The product segment is further segmented as mechanical, thermodynamic, and thermostatic. On the basis of material, the steam trap market is segmented into steel, iron, and others. The steam trap market on the basis of application is segmented into tracing application, drip application, and process application. On the basis of end-user, the market is segmented into chemical, energy and power, food and beverages, oil & gas, pharmaceuticals, and others. On the basis of geography, the market can be segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. The report also provides country level analysis for each of the segments. The U.S., Canada, Germany, Italy, France, U.K., China, Japan, India, Saudi Arabia, Africa, Brazil, and Argentina are the countries included in the market study of steam traps.

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The steam trap market is highly fragmented and consists of a large number of regional and international players. Small players in the steam trap market offer steam traps at lesser price, thus offering tough competition to international players. Availability of a wide range of steam traps and a large pool of manufacturers intensifies the market completion of steam traps globally. Some of the key players in the steam trap market include Spirax-Sarco Engineering PLC, Pentiar PLC, The Weir Group PLC, Flowserve Corporation, Circor International, Inc., Emerson Electric Co., Schlumberger N.V., Thermax Limited, Velan Inc., Bestobell Steam Traps, Watson McDaniel Company, and Watts Water Technologies, Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market

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