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Steam Trap Market by Mechanical (Ball Float, Inverted Bucket), Thermodynamic, Thermostatic (Balanced Pressure, Bimetallic, Liquid Expansion, Bellowed), Steel, Iron, Tracing, Drip, Process, Screwed, Flanged, Swivel, Oil & Gas - Global Forecast to 2029

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    Report

  • 253 Pages
  • November 2024
  • Region: Global
  • Markets and Markets
  • ID: 5875306
The global steam trap market was valued at USD 4.57 billion in 2024 and is projected to reach USD 5.57 billion by 2029; it is expected to register a CAGR of 4.1% during the forecast period. Rising demand for energy-efficient systems is driving the growth of the steam trap market. Whereas need for substantial recurring and operational expenses is restraining the growth of the steam trap market.

Thermodynamic segment is expected to account for the largest share in steam trap market.

Thermodynamic steam traps rely on the mechanism of temperature differential, which can distinguish between the hot live steam and relatively cold condensate. Thermodynamic steam traps are generally offered at competitive prices that make them an attractive choice for business looking for optimization of energy cost. Further, due to the fact that such steam traps are available from most manufacturers, procurement is achieved easily and continuously without constraints relating to size or scale of any industry. Not only does this widespread availability make purchasing easier, but also the flexibility in sourcing is feasible as firms can purchase from several suppliers for the needs perceived to be met by the specific requirements, such as price, quality, and delivery times.

Steel segment is likely to hold the largest share in steam trap market in 2024.

Steel steam traps holds the largest share of the steam trap market due to their great strength and tensile strength, along with their resistance capabilities to pressures and high temperature. These properties make them more suitable for demanding industrial applications in oil & gas, chemical, and energy & power industry groups where performance consistency and long service life are crucial. Steel steam traps have fewer corrosion properties and, therefore, find preference in aggressive or hazardous fluids. The widespread nature across different industries, which provides consistent results under rough operating conditions, contributes to a leading position in the market for steel steam traps.

Asia Pacific is expected to hold the largest market share of the steam trap market in 2029.

Asia Pacific is expected to hold the largest market share of the steam trap market due to the region's extensive industrialization and expanding infrastructure. Industries like oil and gas, chemicals, food and beverages, pharmaceuticals, require steam traps; they enhance the efficiency of steam management and provide a loss in energy. In addition, requirements for energy in developing countries across Asia pacific are growing, and hence the development of power plants is on the rise, with the resultant growth of steam trap demand in the steam-based energy system. The large infrastructure projects of industrial facilities and energy plants that started long ago has increased the demand for steam traps, and with this trend, Asia Pacific has maintained its leading position in the market.

Breakdown of primaries

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

  • By Company Type - Tier 1 - 40%, Tier 2 - 35%, Tier 3 - 25%
  • By Designation - C-level Executives - 45%, Directors - 35%, Others - 20%
  • By Region - North America - 30%, Europe - 25%, Asia Pacific - 40%, RoW - 5%
The steam trap market is dominated by a few globally established players such as Spirax Group plc (UK), Emerson Electric Co. (US), Thermax Limited (India), SLB(US), Velan Inc (Canada), Watts (US), Armstrong International Inc. (US), TLV CO., LTD. (Japan), Forbes Marshall (India), Xylem (US). The study includes an in-depth competitive analysis of these key players in the steam trap market, with their company profiles, recent developments, and key market strategies.

Research Coverage:

The report segments the steam trap market and forecasts its size by product type, connection, body material, pressure, size, application, end user industry, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions - North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the steam trap ecosystem.

Key Benefits to Buy the Report:

  • Analysis of key drivers (Rising demand for energy efficient steam systems, increasing integration of automation in steam systems and need to enhance manufacturing efficiency and compliance with environmental regulations). Restraint (Need for substantial recurring and operational expenses), Opportunity (Rapid economic growth in emerging economies, Integration of steam traps with IoT sensors), Challenges (Lack of awareness about benefits of steam trap systems).
  • Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the steam trap market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the steam trap market across varied regions
  • Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the steam trap market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Spirax Group plc (UK), Emerson Electric Co. (US), Thermax Limited (India), SLB (US), Velan Inc (Canada) among others in the steam trap market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered and Regional Scope
1.3.2 Inclusions and Exclusions
1.3.3 Years Considered
1.4 Currency Considered
1.5 Unit Considered
1.6 Stakeholders
1.7 Limitations
1.8 Summary of Changes
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 List of Key Secondary Sources
2.1.1.2 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 List of Primary Interview Participants
2.1.2.2 Breakdown of Primaries
2.1.2.3 Key Data from Primary Sources
2.1.2.4 Key Industry Insights
2.1.3 Secondary and Primary Research
2.2 Market Size Estimation Methodology
2.2.1 Bottom-Up Approach
2.2.1.1 Approach to Estimate Market Size Using Bottom-Up Analysis
2.2.2 Top-Down Approach
2.2.2.1 Approach to Estimate Market Size Using Top-Down Analysis
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
2.5 Research Limitations
2.6 Risk Analysis
3 Executive Summary 40
4 Premium Insights
4.1 Attractive Growth Opportunities for Players in Steam Trap Market
4.2 Steam Trap Market, by Product Type
4.3 Steam Trap Market, by Connection
4.4 Steam Trap Market, by Body Material
4.5 Steam Trap Market, by Pressure
4.6 Steam Trap Market, by Size
4.7 Steam Trap Market, by Application
4.8 Steam Trap Market, by End-use Industry
4.9 Steam Trap Market, by Region
4.10 Steam Trap Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Energy-Efficient Steam Systems
5.2.1.2 Shift Toward Automation
5.2.1.3 Need to Comply with Environmental Regulations
5.2.2 Restraints
5.2.2.1 High Costs Associated with Maintenance and Inspection
5.2.3 Opportunities
5.2.3.1 Rapid Industrialization and Expanding Manufacturing Sectors in Developing Countries
5.2.3.2 Integration of Steam Traps with IoT Sensors
5.2.4 Challenges
5.2.4.1 Lack of Awareness About Benefits of Steam Trap Systems
5.3 Trends/Disruptions Impacting Customer Business
5.4 Pricing Analysis
5.4.1 Average Selling Price Trend of Steam Traps Offered by Key Players, by Product Type, 2021-2023 (USD)
5.4.2 Average Selling Price Trend of Steam Traps, 2019-2023
5.4.3 Average Selling Price Trend of Steam Traps, by Region, 2019-2023
5.5 Value Chain Analysis
5.6 Ecosystem Analysis
5.7 Investment and Funding Scenario
5.8 Impact of AI/Generative AI on Steam Trap Market
5.8.1 Introduction
5.9 Technology Analysis
5.9.1 Key Technologies
5.9.1.1 Remote Monitoring
5.9.1.2 IoT
5.9.2 Complimentary Technologies
5.9.2.1 Energy Management Systems
5.9.3 Adjacent Technologies
5.9.3.1 Ultrasonic Testing
5.10 Patent Analysis
5.11 Trade Analysis
5.11.1 Import Data (HS Code 8481)
5.11.2 Export Data (HS Code 8481)
5.12 Key Conferences and Events, 2024-2026
5.13 Case Study Analysis
5.13.1 Spirax Group Offered Traptest Vkp to Basf That Resulted in Significant Cost Savings
5.13.2 University of Notre Dam Collaborated with Armstrong International to Implement Steam Trap Management Program That Regulated Co2 Emissions and Reduced Operational Costs
5.13.3 Packaging Facility in US Implemented Kadant Johnson 45-Series That Improved Heat Transfers
5.14 Tariff and Regulatory Landscape
5.14.1 Tariff Analysis
5.14.2 Regulatory Bodies, Government Agencies, and Other Organizations
5.14.3 Standards
5.15 Porter's Five Forces Analysis
5.15.1 Threat of New Entrants
5.15.2 Threat of Substitutes
5.15.3 Bargaining Power of Buyers
5.15.4 Bargaining Power of Suppliers
5.15.5 Intensity of Competitive Rivalry
5.16 Key Stakeholders and Buying Criteria
5.16.1 Key Stakeholders in Buying Process
5.16.2 Buying Criteria
6 Steam Trap Market, by Product Type
6.1 Introduction
6.2 Mechanical
6.2.1 Ball Float Steam Traps
6.2.1.1 Increasing Demand for Customized Options to Foster Market Growth
6.2.2 Inverted Bucket Steam Traps
6.2.2.1 Government-Led Initiatives to Boost Adoption of Advanced Steam Management Solutions to Fuel Market Growth
6.3 Thermodynamic
6.3.1 Disc Steam Traps
6.3.1.1 Increasing Focus on Energy Efficiency to Foster Market Growth
6.3.2 Piston Type Steam Traps
6.3.2.1 Growing Emphasis on Minimizing Energy Wastage to Accelerate Demand
6.4 Thermostatic
6.4.1 Balanced Pressure Steam Traps
6.4.1.1 Ability to Minimize Steam Loss and Optimize Condensate Discharge to Boost Demand
6.4.2 Bimetallic Steam Traps
6.4.2.1 Ability to Withstand High Temperatures and Pressures to Foster Market Growth
6.4.3 Liquid Expansion Steam Traps
6.4.3.1 Stringent Regulations to Enhance Energy Efficiency and Monitor Emissions to Accelerate Demand
6.4.4 Bellows Steam Traps
6.4.4.1 Reduced Maintenance Requirements with Effective Venting Capabilities to Boost Demand
7 Steam Trap Market, by Connection
7.1 Introduction
7.2 Screwed
7.2.1 Increasing Application in Small to Medium-Sized Steam Systems to Drive Market
7.3 Flanged
7.3.1 Ease of Installation and Maintenance to Boost Demand
7.4 Socket Welded
7.4.1 Rising Demand for Efficient and High-Performing Systems to Foster Market Growth
7.5 Other Connections
7.5.1 Swivel
7.5.2 Butt Weld
8 Steam Trap Market, by Body Material
8.1 Introduction
8.2 Steel
8.2.1 Growing Demand for Corrosion-Resistant Materials to Accelerate Demand
8.3 Iron
8.3.1 Rising Demand for Flexible and Crack-Resistant Materials to Fuel Market Growth
8.4 Other Body Materials
8.4.1 Brass
8.4.2 Bronze
9 Steam Trap Market, by Pressure
9.1 Introduction
9.2 = 10 Bars
9.2.1 Increasing Application in Food Processing, Textiles, and Commercial Heating Systems to Drive Market
9.3 >10 Bars-= 25 Bars
9.3.1 Rising Emphasis on Adoption of Sustainable Manufacturing Processes to Foster Market Growth
9.4 >25 Bars
9.4.1 Rising Need for Energy Efficiency in Power and Industrial Sectors to Accelerate Demand
10 Steam Trap Market, by Size
10.1 Introduction
10.2 =Dn
10.2.1 Increasing Implementation in Compact and Lightweight Systems to Boost Demand
10.3 >Dn 25-=Dn
10.3.1 Rising Application in Power Generation and Chemical Processing to Foster Market Growth
10.4 > Dn
10.4.1 Growing Emphasis on Boosting Energy Efficiency and Reducing Emissions to Drive Market
11 Steam Trap Market, by Application
11.1 Introduction
11.2 Tracing
11.2.1 Rising Focus on Adopting Energy-Saving Technologies to Fuel Market Growth
11.3 Drip
11.3.1 Ability to Minimize Steam Loss to Boost Demand
11.4 Process
11.4.1 Increasing Application in Pharmaceuticals and Food & Beverage Manufacturing to Drive Market
12 Steam Trap Market, by End-use Industry
12.1 Introduction
12.2 Chemicals
12.2.1 Growing Investments in R&D to Boost Demand
12.2.2 Roll Dryers
12.2.3 Concentrators
12.2.4 Jacketed Mixing Tanks
12.2.5 Reactor Kettles
12.2.6 Acetone Vaporizers
12.2.7 Conical Dryers
12.2.8 Purifying Kettles
12.3 Energy & Power
12.3.1 Rising Emphasis on Decarbonizing Energy-Intensive Industries to Drive Market
12.3.2 Turbine Exhausts
12.3.3 Auxiliary Systems
12.4 Food & Beverages
12.4.1 Increasing Regulatory Scrutiny for Food Safety to Foster Market Growth
12.4.2 Boil Pouches
12.4.3 Steam Kettles
12.4.4 Bottle Washers
12.4.5 Plate Heaters
12.4.6 Jacketed Kettles
12.4.7 Boiling Kettles
12.5 Oil & Gas
12.5.1 Government-Led Initiatives to Enhance Energy Efficiency to Fuel Market Growth
12.5.2 Vaporizers
12.5.3 Tank Heating
12.5.4 Heat Exchangers
12.5.5 Concentrators
12.5.6 Reactor Kettles
12.6 Pharmaceuticals
12.6.1 Increasing Need for Energy-Efficient Operations in Pharmaceutical Manufacturing to Accelerate Demand
12.6.2 Sanitization
12.6.3 Sterilization
12.7 Textiles
12.7.1 Rising Need to Maintain Optimal Steam Pressure to Drive Market
12.7.2 Embossing Rolls
12.7.3 Roll Dryers
12.7.4 Hot Air Dryers
12.7.5 Cylinder Dryers
12.7.6 Dye Tanks
12.8 Other End-use Industries
12.8.1 Metals & Mining
12.8.2 Pulp & Paper
12.8.3 Water & Wastewater Treatment
13 Steam Trap Market, by Region
13.1 Introduction
13.2 North America
13.2.1 Macroeconomic Outlook for North America
13.2.2 US
13.2.2.1 Increasing Focus on Energy Efficiency and Process Optimization to Boost Demand
13.2.3 Canada
13.2.3.1 Growing Emphasis on Sustainability and Energy Conservation to Drive Market
13.2.4 Mexico
13.2.4.1 Rising Demand from Manufacturing and Energy Sectors to Fuel Market Growth
13.3 Europe
13.3.1 Macroeconomic Outlook for Europe
13.3.2 Germany
13.3.2.1 Increasing Adoption of Eco-Friendly Practices to Foster Market Growth
13.3.3 UK
13.3.3.1 Surging Revenues from Oil & Gas Production to Drive Market
13.3.4 France
13.3.4.1 Growing Emphasis on Decarbonization to Boost Demand
13.3.5 Rest of Europe
13.4 Asia-Pacific
13.4.1 Macroeconomic Outlook for Asia-Pacific
13.4.2 China
13.4.2.1 Thriving Manufacturing Sector to Offer Lucrative Growth Opportunities
13.4.3 India
13.4.3.1 Rapid Industrial Expansion to Drive Market
13.4.4 Japan
13.4.4.1 Rising Focus on Reducing Co2 Emissions to Drive Demand
13.4.5 Rest of Asia-Pacific
13.5 RoW
13.5.1 Macroeconomic Outlook for RoW
13.5.2 Middle East & Africa
13.5.2.1 Thriving Oil & Gas Sector to Foster Market Growth
13.5.2.2 GCC
13.5.2.3 Rest of Middle East & Africa
13.5.3 South America
13.5.3.1 Increasing Emphasis on Lowering Carbon Footprint to Drive Market
14 Competitive Landscape
14.1 Overview
14.2 Key Player Strategies/Right to Win, 2022-2024
14.3 Revenue Analysis, 2019-2023
14.4 Market Share Analysis, 2023
14.5 Company Valuation and Financial Metrics, 2023
14.6 Product Comparison
14.7 Company Evaluation Matrix: Key Players, 2023
14.7.1 Stars
14.7.2 Emerging Leaders
14.7.3 Pervasive Players
14.7.4 Participants
14.7.5 Company Footprint: Key Players, 2023
14.7.5.1 Company Footprint
14.7.5.2 Region Footprint
14.7.5.3 Product Type Footprint
14.7.5.4 Body Material Footprint
14.7.5.5 Connection Footprint
14.8 Company Evaluation Matrix: Startups/SMEs, 2023
14.8.1 Progressive Companies
14.8.2 Responsive Companies
14.8.3 Dynamic Companies
14.8.4 Starting Blocks
14.8.5 Competitive Benchmarking: Startups/SMEs, 2023
14.8.5.1 Detailed List of Key Startups/SMEs
14.8.5.2 Competitive Benchmarking of Key Startups/SMEs
14.9 Competitive Scenario
14.9.1 Product Launches
14.9.2 Deals
15 Company Profiles
15.1 Key Players
15.1.1 Spirax Group PLC
15.1.1.1 Business Overview
15.1.1.2 Products/Solutions/Services Offered
15.1.1.3 Recent Developments
15.1.1.3.1 Deals
15.1.1.4 Analyst's View
15.1.1.4.1 Key Strengths/Right to Win
15.1.1.4.2 Strategic Choices
15.1.1.4.3 Weaknesses/Competitive Threats
15.1.2 Emerson Electric Co.
15.1.2.1 Business Overview
15.1.2.2 Products/Solutions/Services Offered
15.1.2.3 Recent Developments
15.1.2.3.1 Deals
15.1.2.4 Analyst's View
15.1.2.4.1 Key Strengths/Right to Win
15.1.2.4.2 Strategic Choices
15.1.2.4.3 Weaknesses/Competitive Threats
15.1.3 Velan Inc.
15.1.3.1 Business Overview
15.1.3.2 Products/Solutions/Services Offered
15.1.3.3 Analyst's View
15.1.3.3.1 Key Strengths/Right to Win
15.1.3.3.2 Strategic Choices
15.1.3.3.3 Weaknesses/Competitive Threats
15.1.4 Watts
15.1.4.1 Business Overview
15.1.4.2 Products/Solutions/Services Offered
15.1.4.3 Recent Developments
15.1.4.3.1 Deals
15.1.4.4 Analyst's View
15.1.4.4.1 Key Strengths/Right to Win
15.1.4.4.2 Strategic Choices
15.1.4.4.3 Weaknesses/Competitive Threats
15.1.5 Xylem
15.1.5.1 Business Overview
15.1.5.2 Products/Solutions/Services Offered
15.1.5.3 Recent Developments
15.1.5.3.1 Deals
15.1.5.4 Analyst's View
15.1.5.4.1 Key Strengths/Right to Win
15.1.5.4.2 Strategic Choices
15.1.5.4.3 Weaknesses/Competitive Threats
15.1.6 Thermax Limited
15.1.6.1 Business Overview
15.1.6.2 Products/Solutions/Services Offered
15.1.7 Slb
15.1.7.1 Business Overview
15.1.7.2 Products/Solutions/Services Offered
15.1.8 Armstrong International Inc.
15.1.8.1 Business Overview
15.1.8.2 Products/Solutions/Services Offered
15.1.9 Tlv Co. Ltd.
15.1.9.1 Business Overview
15.1.9.2 Products/Solutions/Services Offered
15.1.9.3 Recent Developments
15.1.9.3.1 Product Launches
15.1.10 Forbes Marshall
15.1.10.1 Business Overview
15.1.10.2 Products/Solutions/Services Offered
15.2 Other Players
15.2.1 Watson Mcdaniel
15.2.2 Miyawaki Inc.
15.2.3 Hawa Engineers Ltd
15.2.4 Ari-Armaturen
15.2.5 Venn.Co, Ltd
15.2.6 Ayvaz
15.2.7 Neta Metal Works
15.2.8 Thermomegatech, Inc.
15.2.9 Tunstall
15.2.10 Thermal Energy International Inc.
15.2.11 Barnes & Jones, LLC
15.2.12 Esco Group of Companies
15.2.13 United Brass Works
15.2.14 Colton Industries
15.2.15 Richards Industrials
16 Appendix
16.1 Insights from Industry Experts
16.2 Discussion Guide
16.3 Knowledgestore: The Subscription Portal
16.4 Customization Options
List of Tables
Table 1 Steam Trap Market: Risk Analysis
Table 2 Average Selling Price Trend of Steam Traps, by Key Player, 2021-2023 (USD)
Table 3 Average Selling Price Trend of Steam Traps, 2019-2023 (USD)
Table 4 Average Selling Price Trend of Steam Traps, by Region, 2019-2023 (USD)
Table 5 Role of Companies in Ecosystem
Table 6 List of Patents, 2024
Table 7 Import Data for HS Code 8481-Compliant Products, by Country, 2019-2023 (USD Million)
Table 8 Export Data for HS Code 8481-Compliant Products, by Country, 2019-2023 (USD Million)
Table 9 Key Conferences and Events, 2024-2026
Table 10 Tariffs for HS Code-8481 Compliant Products, 2023
Table 11 North America: Regulatory Bodies, Government Agencies, and Other Organizations
Table 12 Europe: Regulatory Bodies, Government Agencies, and Other Organizations
Table 13 Asia-Pacific: Regulatory Bodies, Government Agencies, and Other Organizations
Table 14 RoW: Regulatory Bodies, Government Agencies, and Other Organizations
Table 15 Steam Trap Market: Standards
Table 16 Steam Trap Market: Porter's Five Forces Analysis
Table 17 Influence of Key Stakeholders on Buying Process for Top Three End-use Industries (%)
Table 18 Key Buying Criteria for Top Three End-use Industries
Table 19 Steam Trap Market, in Terms of Value and Volume, 2020-2023
Table 20 Steam Trap Market, in Terms of Value and Volume, 2024-2029
Table 21 Steam Trap Market, by Product Type, 2020-2023 (USD Million)
Table 22 Steam Trap Market, by Product Type, 2024-2029 (USD Million)
Table 23 Steam Trap Market, by Mechanical, 2020-2023 (USD Million)
Table 24 Steam Trap Market, by Mechanical, 2024-2029 (USD Million)
Table 25 Mechanical: Steam Trap Market, by Body Material, 2020-2023 (USD Million)
Table 26 Mechanical: Steam Trap Market, by Body Material, 2024-2029 (USD Million)
Table 27 Ball Float Steam Traps: Steam Trap Market, by Body Material, 2020-2023 (USD Million)
Table 28 Ball Float Steam Traps: Steam Trap Market, by Body Material, 2024-2029 (USD Million)
Table 29 Inverted Bucket Steam Traps: Steam Trap Market, by Body Material, 2020-2023 (USD Million)
Table 30 Inverted Bucket Steam Traps: Steam Trap Market, by Body Material, 2024-2029 (USD Million)
Table 31 Mechanical: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 32 Mechanical: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 33 Steam Trap Market, by Thermodynamic, 2020-2023 (USD Million)
Table 34 Steam Trap Market, by Thermodynamic, 2024-2029 (USD Million)
Table 35 Thermodynamic: Steam Trap Market, by Body Material, 2020-2023 (USD Million)
Table 36 Thermodynamic: Steam Trap Market, by Body Material, 2024-2029 (USD Million)
Table 37 Disc Steam Traps: Steam Trap Market, by Body Material, 2020-2023 (USD Million)
Table 38 Disc Steam Traps: Steam Trap Market, by Body Material, 2024-2029 (USD Million)
Table 39 Piston Type Steam Traps: Steam Trap Market, by Body Material, 2020-2023 (USD Million)
Table 40 Piston Type Steam Traps: Steam Trap Market, by Body Material, 2024-2029 (USD Million)
Table 41 Thermodynamic: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 42 Thermodynamic: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 43 Steam Trap Market, by Thermostatic, 2020-2023 (USD Million)
Table 44 Steam Trap Market, by Thermostatic, 2024-2029 (USD Million)
Table 45 Thermostatic: Steam Trap Market, by Body Material, 2020-2023 (USD Million)
Table 46 Thermostatic: Steam Trap Market, by Body Material, 2024-2029 (USD Million)
Table 47 Balanced Pressure Steam Traps: Steam Trap Market, by Body Material, 2020-2023 (USD Million)
Table 48 Balanced Pressure Steam Traps: Steam Trap Market, by Body Material, 2024-2029 (USD Million)
Table 49 Bimetallic Steam Traps: Steam Trap Market, by Body Material, 2020-2023 (USD Million)
Table 50 Bimetallic Steam Traps: Steam Trap Market, by Body Material, 2024-2029 (USD Million)
Table 51 Liquid Expansion Steam Traps: Steam Trap Market, by Body Material, 2020-2023 (USD Million)
Table 52 Liquid Expansion Steam Traps: Steam Trap Market, by Body Material, 2024-2029 (USD Million)
Table 53 Bellows Steam Traps: Steam Trap Market, by Body Material, 2020-2023 (USD Million)
Table 54 Bellows Steam Traps: Steam Trap Market, by Body Material, 2024-2029 (USD Million)
Table 55 Thermostatic: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 56 Thermostatic: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 57 Steam Trap Market, by Connection, 2020-2023 (USD Million)
Table 58 Steam Trap Market, by Connection, 2024-2029 (USD Million)
Table 59 Steam Trap Market, by Body Material, 2020-2023 (USD Million)
Table 60 Steam Trap Market, by Body Material, 2024-2029 (USD Million)
Table 61 Steel: Steam Trap Market, by Product Type, 2020-2023 (USD Million)
Table 62 Steel: Steam Trap Market, by Product Type, 2024-2029 (USD Million)
Table 63 Steel: Steam Trap Market, by Thermodynamic, 2020-2023 (USD Million)
Table 64 Steel: Steam Trap Market, by Thermodynamic, 2024-2029 (USD Million)
Table 65 Steel: Steam Trap Market, by Mechanical, 2020-2023 (USD Million)
Table 66 Steel: Steam Trap Market, by Mechanical, 2024-2029 (USD Million)
Table 67 Steel: Steam Trap Market, by Thermostatic, 2020-2023 (USD Million)
Table 68 Steel: Steam Trap Market, by Thermostatic, 2024-2029 (USD Million)
Table 69 Iron: Steam Trap Market, by Product Type, 2020-2023 (USD Million)
Table 70 Iron: Steam Trap Market, by Product Type, 2024-2029 (USD Million)
Table 71 Iron: Steam Trap Market, by Thermodynamic, 2020-2023 (USD Million)
Table 72 Iron: Steam Trap Market, by Thermodynamic, 2024-2029 (USD Million)
Table 73 Iron: Steam Trap Market, by Mechanical, 2020-2023 (USD Million)
Table 74 Iron: Steam Trap Market, by Mechanical, 2024-2029 (USD Million)
Table 75 Iron: Steam Trap Market, by Thermostatic, 2020-2023 (USD Million)
Table 76 Iron: Steam Trap Market, by Thermostatic, 2024-2029 (USD Million)
Table 77 Other Body Materials: Steam Trap Market, by Product Type, 2020-2023 (USD Million)
Table 78 Other Body Materials: Steam Trap Market, by Product Type, 2024-2029 (USD Million)
Table 79 Other Body Materials: Steam Trap Market, by Thermodynamic, 2020-2023 (USD Million)
Table 80 Other Body Materials: Steam Trap Market, by Thermodynamic, 2024-2029 (USD Million)
Table 81 Other Body Materials: Steam Trap Market, by Mechanical, 2020-2023 (USD Million)
Table 82 Other Body Materials: Steam Trap Market, by Mechanical, 2024-2029 (USD Million)
Table 83 Other Body Materials: Steam Trap Market, by Thermostatic, 2020-2023 (USD Million)
Table 84 Other Body Materials: Steam Trap Market, by Thermostatic, 2024-2029 (USD Million)
Table 85 Steam Trap Market, by Pressure, 2020-2023 (USD Million)
Table 86 Steam Trap Market, by Pressure, 2024-2029 (USD Million)
Table 87 Steam Trap Market, by Size, 2020-2023 (USD Million)
Table 88 Steam Trap Market, by Size, 2024-2029 (USD Million)
Table 89 Steam Trap Market, by Application, 2020-2023 (USD Million)
Table 90 Steam Trap Market, by Application, 2024-2029 (USD Million)
Table 91 Tracing: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 92 Tracing: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 93 Drip: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 94 Drip: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 95 Process: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 96 Process: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 97 Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 98 Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 99 Chemicals: Steam Trap Market, by Region, 2020-2023 (USD Million)
Table 100 Chemicals: Steam Trap Market, by Region, 2024-2029 (USD Million)
Table 101 Chemicals: Steam Trap Market, by Product Type, 2020-2023 (USD Million)
Table 102 Chemicals: Steam Trap Market, by Product Type, 2024-2029 (USD Million)
Table 103 Chemicals: Steam Trap Market, by Application, 2020-2023 (USD Million)
Table 104 Chemicals: Steam Trap Market, by Application, 2024-2029 (USD Million)
Table 105 Energy & Power: Steam Trap Market, by Region, 2020-2023 (USD Million)
Table 106 Energy & Power: Steam Trap Market, by Region, 2024-2029 (USD Million)
Table 107 Energy & Power: Steam Trap Market, by Product Type, 2020-2023 (USD Million)
Table 108 Energy & Power: Steam Trap Market, by Product Type, 2024-2029 (USD Million)
Table 109 Energy & Power: Steam Trap Market, by Application, 2020-2023 (USD Million)
Table 110 Energy & Power: Steam Trap Market, by Application, 2024-2029 (USD Million)
Table 111 Food & Beverages: Steam Trap Market, by Region, 2020-2023 (USD Million)
Table 112 Food & Beverages: Steam Trap Market, by Region, 2024-2029 (USD Million)
Table 113 Food & Beverages: Steam Trap Market, by Product Type, 2020-2023 (USD Million)
Table 114 Food & Beverages: Steam Trap Market, by Product Type, 2024-2029 (USD Million)
Table 115 Food & Beverages: Steam Trap Market, by Application, 2020-2023 (USD Million)
Table 116 Food & Beverages: Steam Trap Market, by Application, 2024-2029 (USD Million)
Table 117 Oil & Gas: Steam Trap Market, by Region, 2020-2023 (USD Million)
Table 118 Oil & Gas: Steam Trap Market, by Region, 2024-2029 (USD Million)
Table 119 Oil & Gas: Steam Trap Market, by Product Type, 2020-2023 (USD Million)
Table 120 Oil & Gas: Steam Trap Market, by Product Type, 2024-2029 (USD Million)
Table 121 Oil & Gas: Steam Trap Market, by Application, 2020-2023 (USD Million)
Table 122 Oil & Gas: Steam Trap Market, by Application, 2024-2029 (USD Million)
Table 123 Pharmaceuticals: Steam Trap Market, by Region, 2020-2023 (USD Million)
Table 124 Pharmaceuticals: Steam Trap Market, by Region, 2024-2029 (USD Million)
Table 125 Pharmaceuticals: Steam Trap Market, by Product Type, 2020-2023 (USD Million)
Table 126 Pharmaceuticals: Steam Trap Market, by Product Type, 2024-2029 (USD Million)
Table 127 Pharmaceuticals: Steam Trap Market, by Application, 2020-2023 (USD Million)
Table 128 Pharmaceuticals: Steam Trap Market, by Application, 2024-2029 (USD Million)
Table 129 Textiles: Steam Trap Market, by Region, 2020-2023 (USD Million)
Table 130 Textiles: Steam Trap Market, by Region, 2024-2029 (USD Million)
Table 131 Textiles: Steam Trap Market, by Product Type, 2020-2023 (USD Million)
Table 132 Textiles: Steam Trap Market, by Product Type, 2024-2029 (USD Million)
Table 133 Textiles: Steam Trap Market, by Application, 2020-2023 (USD Million)
Table 134 Textiles: Steam Trap Market, by Application, 2024-2029 (USD Million)
Table 135 Other End-use Industries: Steam Trap Market, by Region, 2020-2023 (USD Million)
Table 136 Other End-use Industries: Steam Trap Market, by Region, 2024-2029 (USD Million)
Table 137 Other End-use Industries: Steam Trap Market, by Product Type, 2020-2023 (USD Million)
Table 138 Other End-use Industries: Steam Trap Market, by Product Type, 2024-2029 (USD Million)
Table 139 Other End-use Industries: Steam Trap Market, by Application, 2020-2023 (USD Million)
Table 140 Other End-use Industries: Steam Trap Market, by Application, 2024-2029 (USD Million)
Table 141 Steam Trap Market, by Region, 2020-2023 (USD Million)
Table 142 Steam Trap Market, by Region, 2024-2029 (USD Million)
Table 143 North America: Steam Trap Market, by Country, 2020-2023 (USD Million)
Table 144 North America: Steam Trap Market, by Country, 2024-2029 (USD Million)
Table 145 North America: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 146 North America: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 147 US: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 148 US: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 149 Canada: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 150 Canada: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 151 Mexico: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 152 Mexico: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 153 Europe: Steam Trap Market, by Country, 2020-2023 (USD Million)
Table 154 Europe: Steam Trap Market, by Country, 2024-2029 (USD Million)
Table 155 Europe: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 156 Europe: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 157 Germany: Steam Trap Market, by End-use Industry, 2020-2023, (USD Million)
Table 158 Germany: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 159 UK: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 160 UK: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 161 France: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 162 France: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 163 Rest of Europe: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 164 Rest of Europe: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 165 Asia-Pacific: Steam Trap Market, by Country, 2020-2023 (USD Million)
Table 166 Asia-Pacific: Steam Trap Market, by Country, 2024-2029 (USD Million)
Table 167 Asia-Pacific: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 168 Asia-Pacific: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 169 China: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 170 China: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 171 India: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 172 India: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 173 Japan: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 174 Japan: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 175 Rest of Asia-Pacific: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 176 Rest of Asia-Pacific: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 177 RoW: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 178 RoW: Steam Trap Market, by End-use Industry, 2024-2029, (USD Million)
Table 179 RoW: Steam Trap Market, by Region, 2020-2023 (USD Million)
Table 180 RoW: Steam Trap Market, by Region, 2024-2029 (USD Million)
Table 181 Middle East & Africa: Steam Trap Market, by Country, 2020-2023 (USD Million)
Table 182 Middle East & Africa: Steam Trap Market, by Country, 2024-2029 (USD Million)
Table 183 Middle East & Africa: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 184 Middle East & Africa: Steam Trap Market, by End-use Industry, 2024-2029, (USD Million)
Table 185 South America: Steam Trap Market, by End-use Industry, 2020-2023 (USD Million)
Table 186 South America: Steam Trap Market, by End-use Industry, 2024-2029 (USD Million)
Table 187 Steam Trap Market: Overview of Strategies Adopted by Key Players, 2022-2024
Table 188 Steam Trap Market: Degree of Competition, 2023
Table 189 Steam Trap Market: Region Footprint
Table 190 Steam Trap Market: Product Type Footprint
Table 191 Steam Trap Market: Body Material Footprint
Table 192 Steam Trap Market: Connection Footprint
Table 193 Steam Trap Market: List of Key Startups/SMEs
Table 194 Steam Trap Market: Competitive Benchmarking of Key Startups/SMEs
Table 195 Steam Trap Market: Product Launches, January 2022-September 2024
Table 196 Steam Trap Market: Deals, January 2022-September 2024
Table 197 Spirax Group PLC: Company Overview
Table 198 Spirax Group PLC: Products/Solutions/Services Offered
Table 199 Spirax Group PLC: Deals
Table 200 Emerson Electric Co.: Company Overview
Table 201 Emerson Electric Co.: Products/Solutions/Services Offered
Table 202 Emerson Electric Co.: Deals
Table 203 Velan Inc.: Company Overview
Table 204 Velan Inc.: Products/Solutions/Services Offered
Table 205 Watts: Company Overview
Table 206 Watts: Products/Solutions/Services Offered
Table 207 Watts: Deals
Table 208 Xylem: Company Overview
Table 209 Xylem: Products/Solutions/Services Offered
Table 210 Xylem: Deals
Table 211 Thermax Limited: Company Overview
Table 212 Thermax Limited: Products/Solutions/Services Offered
Table 213 Slb: Company Overview
Table 214 Slb: Products/Solutions/Services Offered
Table 215 Armstrong International Inc.: Company Overview
Table 216 Armstrong International Inc.: Products/Solutions/Services Offered
Table 217 Tlv Co. Ltd.: Company Overview
Table 218 Tlv Co. Ltd.: Products/Solutions/Services Offered
Table 219 Tlv Co. Ltd.: Product Launches
Table 220 Forbes Marshall: Company Overview
Table 221 Forbes Marshall: Products/Solutions/Services Offered
Table 222 Watson Mcdaniel: Company Overview
Table 223 Miyawaki Inc.: Company Overview
Table 224 Hawa Engineers Ltd.: Company Overview
Table 225 Ari-Armaturen: Company Overview
Table 226 Venn.Co, Ltd.: Company Overview
Table 227 Ayvaz: Company Overview
Table 228 Neta Metal Works: Company Overview
Table 229 Thermomegatech, Inc.: Company Overview
Table 230 Tunstall: Company Overview
Table 231 Thermal Energy International Inc.: Company Overview
Table 232 Barnes & Jones, LLC: Company Overview
Table 233 Esco Group of Companies: Company Overview
Table 234 United Brass Works: Company Overview
Table 235 Colton Industries: Company Overview
Table 236 Richards Industrials: Company Overview
List of Figures
Figure 1 Steam Trap Market Segmentation and Regional Scope
Figure 2 Steam Trap Market: Research Design
Figure 3 Market Size Estimation Methodology (Supply Side): Revenue Generated by Steam Trap Manufacturers/Providers
Figure 4 Steam Trap Market: Bottom-Up Approach
Figure 5 Steam Trap Market: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Thermodynamic Segment to Hold Largest Market Share in 2024
Figure 8 Tracing Segment to Register Highest CAGR During Forecast Period
Figure 9 Steel Segment to Dominate Market in 2029
Figure 10 Oil & Gas Segment to Capture Largest Market Share in 2024
Figure 11 Asia-Pacific Accounted for Largest Market Share in 2023
Figure 12 Growing Adoption in Food & Beverages and Pharmaceuticals Industries to Boost Demand
Figure 13 Thermostatic Segment to Record Highest CAGR During Forecast Period
Figure 14 Screwed Segment to Account for Largest Market Share in 2024
Figure 15 Steel Segment to Secure Largest Market Share in 2024
Figure 16 = 10 Bars Segment to Dominate Market in 2029
Figure 17 >Dn 65 Segment to be Fastest-Growing Segment During Forecast Period
Figure 18 Tracing Segment to Grow at Highest CAGR During Forecast Period
Figure 19 Oil & Gas Segment to Lead Market in 2029
Figure 20 Asia-Pacific to Secure Largest Market Share in 2029
Figure 21 India to Register Highest CAGR During Forecast Period
Figure 22 Steam Trap Market: Drivers, Restraints, Opportunities, and Challenges
Figure 23 Steam Trap Market: Impact Analysis of Drivers
Figure 24 Steam Trap Market: Impact Analysis of Restraints
Figure 25 Steam Trap Market: Impact Analysis of Opportunities
Figure 26 Steam Trap Market: Impact Analysis of Challenges
Figure 27 Trends/Disruptions Impacting Customer Business
Figure 28 Average Selling Price Trend of Steam Traps Offered by Key Players, by Product Type, 2023
Figure 29 Average Selling Price Trend of Steam Traps, 2019-2023
Figure 30 Average Selling Price Trend of Steam Traps, by Region, 2019-2023
Figure 31 Steam Trap Market: Value Chain Analysis
Figure 32 Steam Trap Market: Ecosystem Analysis
Figure 33 Investment and Funding Scenario, 2018-2023
Figure 34 Impact of AI/Generative AI on Steam Trap Market
Figure 35 Patents Applied and Granted, 2014-2023
Figure 36 Import Data for HS Code 8481-Compliant Products, by Country, 2019-2023 (USD Million)
Figure 37 Export Data for HS Code 8481-Compliant Products, by Country, 2019-2023 (USD Million)
Figure 38 Steam Trap Market: Porter's Five Forces Analysis
Figure 39 Influence of Stakeholders on Buying Process for Top Three End-use Industries
Figure 40 Buying Criteria for Top Three End-use Industries
Figure 41 Steam Trap Market, by Product Type
Figure 42 Thermodynamic Segment to Dominate Market in 2029
Figure 43 Steam Trap Market, by Connection
Figure 44 Screwed Segment to Lead Market in 2024
Figure 45 Steam Trap Market, by Body Material
Figure 46 Steel Segment to Register Highest CAGR During Forecast Period
Figure 47 Steam Trap Market, by Pressure
Figure 48 =10 Bars Segment to Account for Largest Market Share in 2024
Figure 49 Steam Trap Market, by Size
Figure 50 = Dn 25 Segment to Lead Market in 2029
Figure 51 Steam Trap Market, by Application
Figure 52 Tracing Application to Account for Largest Market Share in 2024
Figure 53 Oil & Gas Segment to Lead Market in 2029
Figure 54 India to Register Highest CAGR in Global Steam Trap Market During Forecast Period
Figure 55 Asia-Pacific to Account for Largest Market Share in 2024
Figure 56 North America: Steam Trap Market Snapshot
Figure 57 Europe: Steam Trap Market Snapshot
Figure 58 Asia-Pacific: Steam Trap Market Snapshot
Figure 59 Steam Trap Market: Revenue Analysis of Four Key Players, 2019-2023
Figure 60 Market Share Analysis of Companies Offering Steam Traps, 2023
Figure 61 Company Valuation, 2023
Figure 62 Financial Metrics (EV/EBITDA), 2023
Figure 63 Steam Trap Market: Product Comparison
Figure 64 Steam Trap Market: Company Evaluation Matrix (Key Players), 2023
Figure 65 Steam Trap Market: Company Footprint
Figure 66 Steam Trap Market: Company Evaluation Matrix (Startups/SMEs), 2023
Figure 67 Spirax Group PLC: Company Snapshot
Figure 68 Emerson Electric Co.: Company Snapshot
Figure 69 Velan Inc.: Company Snapshot
Figure 70 Watts: Company Snapshot
Figure 71 Xylem: Company Snapshot
Figure 72 Thermax Limited: Company Snapshot
Figure 73 Slb: Company Snapshot

Companies Mentioned

  • Spirax Group PLC
  • Emerson Electric Co.
  • Velan Inc.
  • Watts
  • Xylem
  • Thermax Limited
  • Slb
  • Armstrong International Inc.
  • Tlv Co. Ltd.
  • Forbes Marshall
  • Watson Mcdaniel
  • Miyawaki Inc.
  • Hawa Engineers Ltd
  • Ari-Armaturen
  • Venn.Co, Ltd
  • Ayvaz
  • Neta Metal Works
  • Thermomegatech, Inc.
  • Tunstall
  • Thermal Energy International Inc.
  • Barnes & Jones, LLC
  • Esco Group of Companies
  • United Brass Works
  • Colton Industries
  • Richards Industrials

Methodology

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Table Information