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Steam Trap Market Estimated To Experience a Hike in Growth By 2027
Steam Trap Market
Steam traps are part of the steam system. A condensate is a liquid that is formed during the steam generation process.
A steam trap acts like an automatic valve that opens and closes as per requirement. Generally, a steam trap is connected to an industrial boiler.
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Efforts of global manufacturing companies to reduce wastage in steam generation will drive the Global Steam Trap Market
Across the globe, heavy industrial manufacturing companies are focused on reducing wastage during industrial steam generation which is used for various purposes. According to the U.S. Department of Energy, close to 20.0% of steam that leaves a central boiler plant is lost during transportation in steam traps through leakage. This increases the production cost. As steam is required in almost all heavy industries with boiler operations, reducing steam wastage in traps increases manufacturing efficiency. Manufacturing plants are looking for energy-efficient steam traps due to all these factors, which is increasing the global sale of steam traps across the world.
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North America to Hold a Leading Share of Global Steam Trap Market
Geographically, the global Steam Trap market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the Steam Trap market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the Steam Trap market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America Steam Trap market is segmented into Brazil, and Rest of South America.
North America and Europe dominates the market share due to larger amount of mechanical industries in the region.
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Key Players Operating in the Steam Trap Market:
The Steam Trap market is competitive with several global and regional players. Major players are adopting various strategies, such as energy-efficient steam traps to enhance their position in the market.
A few of the key players operating in the global Steam Trap market are:
• Spirax-Sarco Engineering plc
• CIRCOR International, Inc.
• Emerson Electric Co.
• Pentair
• The Weir Group
• Flowserve
• Schlumberger
• Velan Inc.
• Marck & Care Engineers Ltd.
• Armstrong International Inc.
• Miyawaki Inc.
• Hawa Engineers Ltd.
• Bestobell Steam Traps
• Thermal Energy International Inc.
• Bell & Gossett
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