Press release
Emerging Closed Steam Condensate Recovery Device Market Driver 2025-2034: Expansion Of Food And Beverage Sector Fuels Growth In Closed Steam Condensate Recovery Device Market
Closed Steam Condensate Recovery Device Market Size
The market for closed steam condensate recovery devices has witnessed robust growth in the past few years. It is expected to expand from a size of $96.77 billion in 2024 to $102.42 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%. Factors influencing this growth during the historic period include a rise in industrial automation, enhanced environmental awareness, increased demand for water conservation technologies, the embrace of sustainable practices, and the adoption of closed-loop systems.
The market for closed steam condensate recovery devices is anticipated to experience significant expansion in the upcoming years, scaling up to a worth of $126.94 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 5.5%. This predicted growth in the forecast period can be ascribed to an escalated emphasis on energy efficiency, surging demand for affordable alternatives, a growing consciousness about environmental sustainability, escalating energy prices, along with amplified governmental regulations. Futuristic tendencies in the forecast period encapsulate technological progress, the inclusion of IoT, intelligent sensors, machine learning, and closed-loop steam systems.
What Are the Key Drivers Behind the Growth of the Closed Steam Condensate Recovery Device Market?
The growth of the closed steam condensate recovery device market is predicted to be spurred by the burgeoning food and beverage sector. This sector encompasses enterprises that produce, process, package, distribute, and sell food and drink to consumers. The food and beverage sector's enlargement can be attributed to the burgeoning global populace, escalating consumer demand for convenience food and drink, changing dietary preferences, and the upward trajectory of middle-class income levels, most notably in emerging markets. Closed steam condensate recovery devices are utilised by the food and beverage industry to boost energy efficiency, minimise water usage, and to maintain process cleanliness by averting contamination. For instance, a report by the Sweden-based governmental agency, Statistics Sweden, revealed that in September 2022, the income from the food and beverage sales of Sweden hit $29.85 billion (SEK 334 billion), indicating a 2.9% augmentation. This surge is attributed to a 2.5% growth in sales volume coupled with a 0.4% escalation in the prices of food and beverages. Hence, the growth of the closed steam condensate recovery device market is being fuelled by the expansion of the food and beverage sector.
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Who Are the Major Industry Players Fueling Closed Steam Condensate Recovery Device Market Expansion?
Major companies operating in the closed steam condensate recovery device market are Emerson Electric Co., Xylem Inc., KSB SE & Co. KGaA, Wilo SE, Spirax-Sarco Engineering plc, Armstrong International Inc., Thermax Limited, Forbes Marshall Pvt. Ltd., Kadant Inc., Cleaver-Brooks, Inc., Chromalox Inc., ARI-Armaturen Albert Richter GmbH & Co. KG, Sundyne, LLC, GESTRA AG, TLV International Inc., Thermodyne Engineering Systems, Albany Pump Co. Ltd., Pennant Engineering Pvt. Ltd., Mechanical Equipment & Pump Co., Valsteam ADCA Engineering SA, Johnston Boiler Company, Rheem Manufacturing Company, Grundfos Pumps Corporation
Who Are the Major Industry Players Fueling Market Expansion?
Leading firms in the sealed-steam condensate recovery system market are concentrating on the creation of innovative products such as steam trap monitoring solutions, with the aim to boost energy efficiency, curtail water usage, and lessen environmental footprints. These monitoring solutions are designed tech systems developed specifically to oversee the functioning and status of steam traps in a steam system, particularly in a sealed-steam condensate recovery device. By ensuring the optimal operation of steam traps, these solutions cut down energy wastage, minimize maintenance expenses, and bolster the overall efficiency of the steam system. As an example, in October 2023, IMI Critical Engineering, a renowned engineering enterprise from the UK, unveiled the STM-10 Steam Trap Monitoring Solution. This ground-breaking device offers real-time surveillance of steam traps, promptly identifying flaws and inefficiencies that might result in energy wastage and heighten operational expenditure. The STM-10 possesses a unique feature of wireless compact sensors for monitoring critical process conditions and is teamed with advanced software employing smart algorithms conceived by IMI Critical Engineering for the speedy discovery of blockages or leaks in steam traps. This ingenious strategy, coupled with assertive maintenance planning, aids in reducing energy expenditure and CO2 emissions, and simultaneously mitigates the risk of damage due to wet steam corrosion.
How Is the Segmentation of the Closed Steam Condensate Recovery Device Market Defined?
The closed steam condensate recovery device market covered in this report is segmented -
1) By Type: Continue Operation, Intermittent Operation
2) By Distribution Channel: Online, Offline
3) By Application: Papermaking, Chemical Industry, Food, Pharmaceutical, Other Applications
Subsegments:
1) By Continuous Operation: Continuous Flow Condensate Recovery Systems, Constant Pressure Recovery Systems, Automated Continuous Operation Devices
2) By Intermittent Operation: Batch Processing Condensate Recovery Systems, On-Demand Condensate Recovery Devices, Intermittent Flow Recovery Systems
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What Is the Leading Region in the Closed Steam Condensate Recovery Device Market?
Asia-Pacific was the largest region in the closed steam condensate recovery device market in 2024. The regions covered in the closed steam condensate recovery device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Closed Steam Condensate Recovery Device Global Market Report?
- Market Size Analysis: Analyze the closed steam condensate recovery device Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the closed steam condensate recovery device market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall closed steam condensate recovery device market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the closed steam condensate recovery device market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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