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Steam Trap Market by Mechanical (Ball Float, Inverted Bucket), Thermodynamic, Thermostatic (Balanced Pressure, Bimetallic), Application (Drip, Process, Tracing), Body Material (Steel, Iron), End-User Industry and Region - Forecast to 2028

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    Report

  • September 2023
  • Region: Global
  • Markets and Markets
  • ID: 5875306

The steam trap market is expected to grow from USD 3.8 billion in 2023 to USD 4.6 billion by 2028, at a CAGR of 3.8% during the forecast period. Increasing demand for energy-efficient steam systems and the growing adoption of automation in steam systems drive the market for steam trap.

The thermostatic steam trap market is expected to grow at the highest CAGR during the forecast period

The thermostatic steam trap market is expected to grow at the highest CAGR during the forecast period. Thermostatic steam traps offer a sophisticated solution for optimizing steam management by efficiently modulating steam flow based on temperature changes. This dynamic capability ensures energy conservation and prevents unnecessary steam wastage, aligning seamlessly with industries’ intensified focus on operational efficiency and resource utilization. Moreover, their reliable performance and relatively low maintenance requirements make them attractive for industries seeking efficient and cost-effective steam management solutions.

Steel body material segment is expected to dominate the steam trap market throughout the forecast period

The steel body material segment is expected to account for the largest size of the steam trap market throughout the forecast period. Steel’s exceptional durability and corrosion resistance make it an ideal choice for steam trap construction, particularly in industries with harsh operating conditions. This longevity ensures prolonged performance and reduces the need for frequent replacements, resulting in cost savings and enhanced operational reliability. Furthermore, steel’s inherent strength allows for the design of robust steam traps capable of withstanding high pressure and temperature variations, further bolstering their suitability for demanding industrial applications. Moreover, steel's excellent heat conduction properties facilitate efficient condensate removal, contributing to enhanced steam trap performance and overall operational efficiency.

Steam trap market in Asia Pacific region to register highest CAGR between 2023 and 2028

The Steam Trap market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The region’s robust industrialization and infrastructural expansion across various sectors amplify the demand for efficient steam management solutions. As industries scale up and modernize, the imperative of optimizing energy utilization and condensate control elevates the significance of steam traps. Furthermore, governments and industries in the Asia Pacific region significantly emphasize sustainability and energy efficiency. Steam traps offer a practical way to achieve these objectives by preventing steam wastage and optimizing energy consumption. As sustainability becomes a central focus, adopting steam traps aligns with the region’s goals and regulations.

Breakdown of Primaries

In determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the steam trap market space. The break-up of primary participants for the report has been shown below:

  • By Company Type: Tier 1 - 45%, Tier 2 - 25%, and Tier 3 - 30%
  • By Designation: C-level Executives - 40%, Directors - 30%, and Others - 30%
  • By Region: North America - 30%, Europe - 25%, Asia Pacific - 35%, and Rest of the World - 10%

Key players in the steam trap market are Spirax-Sarco Engineering plc (UK), Emerson Electric Co. (US), Schlumberger Limited (US), Thermax Limited (India), Velan Inc. (Canada), Watts Water Technologies, Inc. (US), Armstrong International Inc. (US), TLV CO., LTD. (Japan), Forbes Marshall (India), and Xylem Inc. (US) and others.
The steam trap market has been segmented into product, application, body material, end-user industry, and region. The steam trap market has been studied in North America, Europe, Asia Pacific, and the Rest of the World.    

Reasons to buy the report:

The report will help the market leaders/new entrants with information on the closest approximate revenues for the steam trap and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

  • Analysis of key drivers (Increasing demand for energy-efficient steam systems, growing adoption of automation in steam systems, and strict regulations imposed by regulatory bodies to enhance manufacturing efficiency and reduce greenhouse gas emissions), restraints (high investments required to implement steam trap systems and periodic maintenance and complexity associated with the operations of steam trap systems), opportunities (rapid economic growth in emerging economies and development of IoT sensors boost steam trap demand and reliability), and challenges (lack of awareness and benefits of steam trap systems).
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & 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, untapped geographies, recent developments, and investments in the steam trap market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Spirax-Sarco Engineering plc (UK), Emerson Electric Co. (US), Schlumberger Limited (US), Thermax Limited (India), Velan Inc. (Canada), Watts Water Technologies, Inc. (US), Armstrong International Inc., among others.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Steam Trap Market: Segmentation
1.3.2 Inclusions and Exclusions
1.3.3 Geographical Scope
1.3.4 Years Considered
1.4 Currency Considered
1.5 Limitations
1.6 Stakeholders
1.7 Summary of Changes
1.8 Recession Impact

2 Research Methodology
2.1 Research Data
Figure 2 Steam Trap Market: Research Design
2.1.1 Secondary and Primary Research
Figure 3 Secondary and Primary Research
2.1.2 Secondary Data
2.1.2.1 List of Secondary Sources
2.1.2.2 Key Data from Secondary Sources
2.1.3 Primary Data
2.1.3.1 Primary Interviews with Experts
2.1.3.2 Key Data from Primary Sources
2.1.3.3 Key Industry Insights
2.1.3.4 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach to Derive Market Share by Bottom-Up Analysis (Demand Side)
Figure 4 Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.2.1 Approach to Derive Market Share by Top-Down Analysis (Supply Side)
Figure 5 Top-Down Approach
Figure 6 Market Size Estimation Methodology: (Demand Side) Revenue Generated by Companies in Steam Trap Market
2.3 Market Breakdown and Data Triangulation
Figure 7 Data Triangulation
2.4 Research Assumptions
2.5 Parameters Considered to Analyze Impact of Recession on Steam Trap Market
2.6 Risk Assessment
Table 1 Steam Trap Market: Risk Assessment

3 Executive Summary
Figure 8 Mechanical Segment to Hold Largest Size of Steam Trap Market During Forecast Period
Figure 9 Tracing Application Segment to Register Highest CAGR in Market During Forecast Period
Figure 10 Steel Segment to Dominate Steam Trap Market During Forecast Period
Figure 11 Oil & Gas Industry to Capture Largest Share of Steam Trap Market During Forecast Period
Figure 12 Asia-Pacific Accounted for Largest Market Share in 2022

4 Premium Insights
4.1 Attractive Opportunities for Players in Steam Trap Market
Figure 13 Growing Adoption of Steam Traps in Food & Beverages and Pharmaceuticals Industries to Provide Opportunities for Players in Steam Trap Market
4.2 Steam Trap Market, by Product
Figure 14 Mechanical Segment to Hold Largest Market Share of Steam Trap Market in 2023
4.3 Steam Trap Market, by Application
Figure 15 Tracing Application Segment to Hold Largest Market Share During Forecast Period
4.4 Steam Trap Market, by Body Material
Figure 16 Steel Segment to Register Highest CAGR During 2023-2028
4.5 Steam Trap Market, by End-User Industry
Figure 17 Oil & Gas Segment to Hold Largest Share of Steam Trap Market in 2023
4.6 Steam Trap Market, by Country
Figure 18 India to be Fastest-Growing Steam Trap Market During Forecast Period

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 19 Steam Trap Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Increasing Demand for Energy-Efficient Steam Systems
5.2.1.2 Growing Adoption of Automation in Steam Systems
5.2.1.3 Need to Enhance Manufacturing Efficiency and Reduce Greenhouse Gas Emissions
Figure 20 Steam Trap Market: Impact of Drivers
5.2.2 Restraints
5.2.2.1 Need for Substantial Upfront Investment
5.2.2.2 Need for Periodic Maintenance and Complexities Associated with Operations of Steam Trap Systems
Figure 21 Steam Trap Market: Impact of Restraints
5.2.3 Opportunities
5.2.3.1 Rapid Economic Growth in Emerging Economies
5.2.3.2 Integration of Steam Traps with IoT Sensors
Figure 22 Steam Trap Market: Impact of Opportunities
5.2.4 Challenges
5.2.4.1 Lack of Awareness About Benefits of Steam Trap Systems
Figure 23 Steam Trap Market: Impact of Challenges
5.3 Value Chain Analysis
Figure 24 Steam Trap Market: Value Chain Analysis
5.4 Ecosystem Mapping
Figure 25 Steam Trap Market: Ecosystem
Table 2 Steam Trap Market: Role of Key Players in Ecosystem
5.5 Trends/Disruptions Impacting Customer Business
Figure 26 Revenue Shifts and New Revenue Pockets for Players in Steam Trap Market
5.6 Technology Analysis
5.6.1 Predictive Maintenance
5.6.2 Digitalization and Artificial Intelligence

6 Steam Trap Market, by Product
6.1 Introduction
Table 3 Steam Trap Market, in Terms of Value and Volume, 2019-2022
Table 4 Steam Trap Market, in Terms of Value and Volume, 2023-2028
Table 5 Steam Trap Market, by Product, 2019-2022 (USD Million)
Table 6 Steam Trap Market, by Product, 2023-2028 (USD Million)
Figure 27 Steam Trap Market, by Product
Figure 28 Mechanical Segment to Command Largest Share of Steam Trap Market Between 2023 and 2028
6.2 Mechanical
6.2.1 Low Maintenance Requirements to Drive Demand for Mechanical Steam Traps
Table 7 Steam Trap Market, by Mechanical Product Type, 2019-2022 (USD Million)
Table 8 Steam Trap Market, by Mechanical Product Type, 2023-2028 (USD Million)
Table 9 Mechanical: Steam Trap Market, by Body Material, 2019-2022 (USD Million)
Table 10 Mechanical: Steam Trap Market, by Body Material, 2023-2028 (USD Million)
Table 11 Ball Float: Steam Trap Market, by Body Material, 2019-2022 (USD Million)
Table 12 Ball Float: Steam Trap Market, by Body Material, 2023-2028 (USD Million)
Table 13 Inverted Bucket: Steam Trap Market, by Body Material, 2019-2022 (USD Million)
Table 14 Inverted Bucket: Steam Trap Market, by Body Material, 2023-2028 (USD Million)
6.3 Thermodynamic
6.3.1 Ability to Operate in High Pressure and Temperature to Boost Demand for Thermodynamic Steam Traps
Table 15 Thermodynamic: Steam Trap Market, by Body Material, 2019-2022 (USD Million)
Table 16 Thermodynamic: Steam Trap Market, by Body Material, 2023-2028 (USD Million)
6.4 Thermostatic
6.4.1 Suitability for Wide Range of Applications to Boost Demand for Thermostatic Steam Traps
Table 17 Steam Trap Market, by Thermostatic Product Type, 2019-2022 (USD Million)
Table 18 Steam Trap Market, by Thermostatic Product Type, 2023-2028 (USD Million)
Table 19 Thermostatic: Steam Trap Market, by Body Material, 2019-2022 (USD Million)
Table 20 Thermostatic: Steam Trap Market, by Body Material, 2023-2028 (USD Million)
Table 21 Balanced Pressure: Steam Trap Market, by Body Material, 2019-2022 (USD Million)
Table 22 Balanced Pressure: Steam Trap Market, by Body Material, 2023-2028 (USD Million)
Table 23 Bimetallic: Steam Trap Market, by Body Material, 2019-2022 (USD Million)
Table 24 Bimetallic: Steam Trap Market, by Body Material, 2023-2028 (USD Million)

7 Steam Trap Market, by Application
7.1 Introduction
Table 25 Steam Trap Market, by Application, 2019-2022 (USD Million)
Table 26 Steam Trap Market, by Application, 2023-2028 (USD Million)
Figure 29 Steam Trap Market, by Application
Figure 30 Tracing Application to Lead Steam Trap Market from 2023 to 2028
7.2 Tracing Application
7.2.1 Durability and Corrosion Resistance Features Make Thermostatic Steam Traps Suitable for Tracing Applications
Table 27 Tracing Application: Steam Trap Market, by End-User Industry, 2019-2022 (USD Million)
Table 28 Tracing Application: Steam Trap Market, by End-User Industry, 2023-2028 (USD Million)
7.3 Drip Application
7.3.1 Thermodynamic Steam Traps Ideal for Drip Applications
Table 29 Drip Application: Steam Trap Market, by End-User Industry, 2019-2022 (USD Million)
Table 30 Drip Application: Steam Trap Market, by End-User Industry, 2023-2028 (USD Million)
7.4 Process Application
7.4.1 Requires Steam Traps with Larger Condensate Handling Capacity
Table 31 Process Application: Steam Trap Market, by End-User Industry, 2019-2022 (USD Million)
Table 32 Process Application: Steam Trap Market, by End-User Industry, 2023-2028 (USD Million)

8 Steam Trap Market, by Body Material
8.1 Introduction
Table 33 Steam Trap Market, by Body Material, 2019-2022 (USD Million)
Table 34 Steam Trap Market, by Body Material, 2023-2028 (USD Million)
Figure 31 Steam Trap Market, by Body Material
Figure 32 Steel Segment to Register Highest CAGR Between 2023 and 2028
8.2 Steel
8.2.1 Durability and Flexibility of Steel Steam Traps Make Them Suitable for Applications in Different Industries
8.3 Iron
8.3.1 Iron Steam Traps Commonly Used in Low- and Medium-Pressure Steam Systems
8.4 Others

9 Steam Trap Market, by End-User Industry
9.1 Introduction
Table 35 Steam Trap Market, by End-User Industry, 2019-2022 (USD Million)
Table 36 Steam Trap Market, by End-User Industry, 2023-2028 (USD Million)
Figure 33 Oil & Gas Segment to Lead Steam Trap Market Between 2023 and 2028
9.2 Chemicals
9.2.1 High Dependency on Steam for Process Applications to Create Demand for Steam Traps
Table 37 Chemicals: Steam Trap Market, by Region, 2019-2022 (USD Million)
Table 38 Chemicals: Steam Trap Market, by Region, 2023-2028 (USD Million)
Table 39 Chemicals: Steam Trap Market, by Product, 2019-2022 (USD Million)
Table 40 Chemicals: Steam Trap Market, by Product, 2023-2028 (USD Million)
Table 41 Chemicals: Steam Trap Market, by Mechanical Product Type, 2019-2022 (USD Million)
Table 42 Chemicals: Steam Trap Market, by Mechanical Product Type, 2023-2028 (USD Million)
Table 43 Chemicals: Steam Trap Market, by Thermostatic Product Type, 2019-2022 (USD Million)
Table 44 Chemicals: Steam Trap Market, by Thermostatic Product Type, 2023-2028 (USD Million)
Table 45 Chemicals: Steam Trap Market, by Application, 2019-2022 (USD Million)
Table 46 Chemicals: Steam Trap Market, by Application, 2023-2028 (USD Million)
9.3 Energy & Power
9.3.1 Increasing Focus on Energy Management to Boost Demand for Steam Traps
Table 47 Energy & Power: Steam Trap Market, by Region, 2019-2022 (USD Million)
Table 48 Energy & Power: Steam Trap Market, by Region, 2023-2028 (USD Million)
Table 49 Energy & Power: Steam Trap Market, by Product, 2019-2022 (USD Million)
Table 50 Energy & Power: Steam Trap Market, by Product, 2023-2028 (USD Million)
Table 51 Energy & Power: Steam Trap Market, by Mechanical Product Type, 2019-2022 (USD Million)
Table 52 Energy & Power: Steam Trap Market, by Mechanical Product Type, 2023-2028 (USD Million)
Table 53 Energy & Power: Steam Trap Market, by Thermostatic Product Type, 2019-2022 (USD Million)
Table 54 Energy & Power: Steam Trap Market, by Thermostatic Product Type, 2023-2028 (USD Million)
Table 55 Energy & Power: Steam Trap Market, by Application, 2019-2022 (USD Million)
Table 56 Energy & Power: Steam Trap Market, by Application, 2023-2028 (USD Million)
9.4 Food & Beverages
9.4.1 Need to Improve Process Efficiency to Drive Adoption of Steam Traps
Table 57 Food & Beverages: Steam Trap Market, by Region, 2019-2022 (USD Million)
Table 58 Food & Beverages: Steam Trap Market, by Region, 2023-2028 (USD Million)
Table 59 Food & Beverages: Steam Trap Market, by Product, 2019-2022 (USD Million)
Table 60 Food & Beverages: Steam Trap Market, by Product, 2023-2028 (USD Million)
Table 61 Food & Beverages: Steam Trap Market, by Mechanical Product Type, 2019-2022 (USD Million)
Table 62 Food & Beverages: Steam Trap Market, by Mechanical Product Type, 2023-2028 (USD Million)
Table 63 Food & Beverages: Steam Trap Market, by Thermostatic Product Type, 2019-2022 (USD Million)
Table 64 Food & Beverages: Steam Trap Market, by Thermostatic Product Type, 2023-2028 (USD Million)
Table 65 Food & Beverages: Steam Trap Market, by Application, 2019-2022 (USD Million)
Table 66 Food & Beverages: Steam Trap Market, by Application, 2023-2028 (USD Million)
9.5 Oil & Gas
9.5.1 Steady Recovery of Oil & Gas Industry to Generate Demand for Steam Traps
Table 67 Oil & Gas: Steam Trap Market, by Region, 2019-2022 (USD Million)
Table 68 Oil & Gas: Steam Trap Market, by Region, 2023-2028 (USD Million)
Table 69 Oil & Gas: Steam Trap Market, by Product, 2019-2022 (USD Million)
Table 70 Oil & Gas: Steam Trap Market, by Product, 2023-2028 (USD Million)
Table 71 Oil & Gas: Steam Trap Market, by Mechanical Product Type, 2019-2022 (USD Million)
Table 72 Oil & Gas: Steam Trap Market, by Mechanical Product Type, 2023-2028 (USD Million)
Table 73 Oil & Gas: Steam Trap Market, by Thermostatic Product Type, 2019-2022 (USD Million)
Table 74 Oil & Gas: Steam Trap Market, by Thermostatic Product Type, 2023-2028 (USD Million)
Table 75 Oil & Gas: Steam Trap Market, by Application, 2019-2022 (USD Million)
Table 76 Oil & Gas: Steam Trap Market, by Application, 2023-2028 (USD Million)
9.6 Pharmaceuticals
9.6.1 Need to Ensure Compliance with Stringent Regulations to Increase Demand for Steam Traps
Table 77 Pharmaceuticals: Steam Trap Market, by Region, 2019-2022 (USD Million)
Table 78 Pharmaceuticals: Steam Trap Market, by Region, 2023-2028 (USD Million)
Table 79 Pharmaceuticals: Steam Trap Market, by Product, 2019-2022 (USD Million)
Table 80 Pharmaceuticals: Steam Trap Market, by Product, 2023-2028 (USD Million)
Table 81 Pharmaceuticals: Steam Trap Market, by Mechanical Product Type, 2019-2022 (USD Million)
Table 82 Pharmaceuticals: Steam Trap Market, by Mechanical Product Type, 2023-2028 (USD Million)
Table 83 Pharmaceuticals: Steam Trap Market, by Thermostatic Product Type, 2019-2022 (USD Million)
Table 84 Pharmaceuticals: Steam Trap Market, by Thermostatic Product Type, 2023-2028 (USD Million)
Table 85 Pharmaceuticals: Steam Trap Market, by Application, 2019-2022 (USD Million)
Table 86 Pharmaceuticals: Steam Trap Market, by Application, 2023-2028 (USD Million)
9.7 Others
Table 87 Others: Steam Trap Market, by Region, 2019-2022 (USD Million)
Table 88 Others: Steam Trap Market, by Region, 2023-2028 (USD Million)
Table 89 Others: Steam Trap Market, by Product, 2019-2022 (USD Million)
Table 90 Others: Steam Trap Market, by Product, 2023-2028 (USD Million)
Table 91 Others: Steam Trap Market, by Mechanical Product Type, 2019-2022 (USD Million)
Table 92 Others: Steam Trap Market, by Mechanical Product Type, 2023-2028 (USD Million)
Table 93 Others: Steam Trap Market, by Thermostatic Product Type, 2019-2022 (USD Million)
Table 94 Others: Steam Trap Market, by Thermostatic Product Type, 2023-2028 (USD Million)
Table 95 Others: Steam Trap Market, by Application, 2019-2022 (USD Million)
Table 96 Others: Steam Trap Market, by Application, 2023-2028 (USD Million)

10 Steam Trap Market, by Region
10.1 Introduction
Figure 34 India to Register Highest CAGR in Overall Steam Trap Market During Forecast Period
Figure 35 Asia-Pacific to Account for Largest Share of Global Steam Trap Market During Forecast Period
Table 97 Steam Trap Market, by Region, 2019-2022 (USD Million)
Table 98 Steam Trap Market, by Region, 2023-2028 (USD Million)
10.2 North America
10.2.1 North America: Recession Impact
Figure 36 North America: Steam Trap Market Snapshot
Table 99 North America: Steam Trap Market, by Country, 2019-2022 (USD Million)
Table 100 North America: Steam Trap Market, by Country, 2023-2028 (USD Million)
Table 101 North America: Steam Trap Market, by End-User Industry, 2019-2022 (USD Million)
Table 102 North America: Steam Trap Market, by End-User Industry, 2023-2028 (USD Million)
10.2.2 US
10.2.2.1 Rising Adoption of Steam Traps in Oil & Gas Sector to Contribute to Market Growth
10.2.3 Canada
10.2.3.1 Growing Emphasis on Reducing Energy Usage to Propel Market Growth
10.2.4 Mexico
10.2.4.1 Pursuit of Achieving High Operational Efficiency in Various Industries to Boost Market Growth
10.3 Europe
10.3.1 Europe: Recession Impact
Figure 37 Europe: Steam Trap Market Snapshot
Table 103 Europe: Steam Trap Market, by Country, 2019-2022 (USD Million)
Table 104 Europe: Steam Trap Market, by Country, 2023-2028 (USD Million)
Table 105 Europe: Steam Trap Market, by End-User Industry, 2019-2022, (USD Million)
Table 106 Europe: Steam Trap Market, by End-User Industry, 2023-2028 (USD Million)
10.3.2 Germany
10.3.2.1 Rising Adoption of Steam Traps by Process Industries to Stimulate Market Growth
10.3.3 UK
10.3.3.1 Rapid Expansion of Industrial Sector and Surging Demand from Oil & Gas Sector to Support Market Growth
10.3.4 France
10.3.4.1 Chemicals and Food & Beverages Industries to Propel Demand for Steam Traps
10.3.5 Rest of Europe
10.4 Asia-Pacific
10.4.1 Asia-Pacific: Recession Impact
Figure 38 Asia-Pacific: Steam Trap Market Snapshot
Table 107 Asia-Pacific: Steam Trap Market, by Country, 2019-2022 (USD Million)
Table 108 Asia-Pacific: Steam Trap Market, by Country, 2023-2028 (USD Million)
Table 109 Asia-Pacific: Steam Trap Market, by End-User Industry, 2019-2022 (USD Million)
Table 110 Asia-Pacific: Steam Trap Market, by End-User Industry, 2023-2028 (USD Million)
10.4.2 China
10.4.2.1 Government Initiatives to Promote Energy Efficiency to Create Demand for Steam Traps
10.4.3 India
10.4.3.1 Rapid Industrialization and Commitment to Energy Efficiency to Drive Market
10.4.4 Japan
10.4.4.1 Increasing Focus on Enhancing Production Capabilities and Overall Operational Efficiency to Boost Requirement for Steam Traps
10.4.5 Rest of Asia-Pacific
10.5 Rest of the World (Row)
10.5.1 Rest of the World: Impact of Recession
Table 111 Rest of the World: Steam Trap Market, by End-User Industry, 2019-2022 (USD Million)
Table 112 Rest of the World: Steam Trap Market, by End-User Industry, 2023-2028, (USD Million)
Table 113 Rest of the World: Steam Trap Market, by Region, 2019-2022 (USD Million)
Table 114 Rest of the World: Steam Trap Market, by Region, 2023-2028 (USD Million)
10.5.2 Africa
10.5.2.1 High Demand from Oil & Gas and Mining Industries to Boost Market Growth
10.5.3 Middle East
10.5.3.1 Booming Oil & Gas Industry to Increase Demand for Steam Traps
10.5.4 South America
10.5.4.1 Thriving Mining Industry to Contribute to Market Growth

11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis, 2022
Table 115 Steam Trap Market: Degree of Competition
Figure 39 Market Share Analysis, 2022
11.3 Evaluation Matrix of Key Companies, 2022
11.3.1 Stars
11.3.2 Emerging Leaders
11.3.3 Pervasive Players
11.3.4 Participants
Figure 40 Steam Trap Market: Evaluation Matrix of Key Companies, 2022
11.4 Competitive Scenarios and Trends
11.4.1 Product Launches and Developments
Table 116 Steam Trap Market: Product Launches and Developments, 2018-2022
11.4.2 Deals
Table 117 Steam Trap Market: Deals, 2019-2023

12 Company Profiles
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View)*
12.1 Key Players
12.1.1 Spirax-Sarco Engineering plc
Table 118 Spirax-Sarco Engineering plc: Company Overview
Figure 41 Spirax-Sarco Engineering plc: Company Snapshot
Table 119 Spirax-Sarco Engineering plc: Products/Solutions/Services Offered
Table 120 Spirax-Sarco Engineering plc: Product Launches
Table 121 Spirax-Sarco Engineering plc: Deals
12.1.2 Emerson Electric Co.
Table 122 Emerson Electric Co.: Company Overview
Figure 42 Emerson Electric Co.: Company Snapshot
Table 123 Emerson Electric Co.: Products/Solutions/Services Offered
Table 124 Emerson Electric Co.: Deals
12.1.3 Thermax Limited
Table 125 Thermax Limited: Company Overview
Figure 43 Thermax Limited: Company Snapshot
Table 126 Thermax Limited: Products/Solutions/Services Offered
12.1.4 Schlumberger Limited
Table 127 Schlumberger Limited: Company Overview
Figure 44 Schlumberger Limited: Company Snapshot
Table 128 Schlumberger Limited: Products/Solutions/Services Offered
12.1.5 Velan Inc.
Table 129 Velan Inc.: Company Overview
Figure 45 Velan Inc.: Company Snapshot
Table 130 Velan Inc.: Products/Solutions/Services Offered
Table 131 Velan Inc.: Deals
12.1.6 Watts Water Technologies, Inc.
Table 132 Watts Water Technologies, Inc.: Company Overview
Figure 46 Watts Water Technologies, Inc.: Company Snapshot
Table 133 Watts Water Technologies, Inc.: Products/Solutions/Services Offered
12.1.7 Armstrong International Inc.
Table 134 Armstrong International Inc.: Company Overview
Table 135 Armstrong International Inc.: Products/Solutions/Services Offered
Table 136 Armstrong International Inc.: Deals
12.1.8 Tlv Co., Ltd.
Table 137 Tlv Co., Ltd.: Company Overview
Table 138 Tlv Co., Ltd.: Products/Solutions/Services Offered
Table 139 Tlv Co., Ltd.: Product Launches
12.1.9 Forbes Marshall
Table 140 Forbes Marshall: Company Overview
Table 141 Forbes Marshall: Products/Solutions/Services Offered
12.1.10 Xylem
Table 142 Xylem: Company Overview
Figure 47 Xylem: Company Snapshot
Table 143 Xylem: Products/Solutions/Services Offered
12.2 Other Players
12.2.1 Watson Mcdaniel
Table 144 Watson Mcdaniel: Company Overview
12.2.2 Miyawaki Inc.
Table 145 Miyawaki Inc.: Company Overview
12.2.3 Hawa Engineers Ltd.
Table 146 Hawa Engineers Ltd.: Company Overview
12.2.4 Ari-Armaturen
Table 147 Ari-Armaturen: Company Overview
12.2.5 Venn Co., Ltd.
Table 148 Venn Co., Ltd.: Company Overview
12.2.6 Ayvaz
Table 149 Ayvaz: Company Overview
12.2.7 Neta Metal Works
Table 150 Neta Metal Works: Company Overview
12.2.8 Thermomegatech, Inc.
Table 151 Thermomegatech, Inc.: Company Overview
12.2.9 Tunstall
Table 152 Tunstall: Company Overview
12.2.10 Thermal Energy International Inc.
Table 153 Thermal Energy International Inc.: Company Overview
12.2.11 Barnes & Jones, LLC
Table 154 Barnes & Jones, LLC: Company Overview
12.2.12 Esco Group of Companies
Table 155 Esco Group of Companies: Company Overview
12.2.13 United Brass Works
Table 156 United Brass Works: Company Overview
12.2.14 Colton Industries
Table 157 Colton Industries: Company Overview
12.2.15 Richards Industrials
Table 158 Richards Industrials: Company Overview
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies.

13 Adjacent and Related Markets
13.1 Introduction
13.2 Study Limitations
13.3 Industrial Valves Market, by Component
13.3.1 Introduction
Figure 48 Industrial Valves Market, by Component
Table 159 Industrial Valves Market, by Component, 2019-2022 (USD Million)
Table 160 Industrial Valves Market, by Component, 2023-2028 (USD Million)
13.4 Actuators
13.4.1 Pneumatic Actuators
13.4.1.1 Diaphragm Actuators
13.4.1.1.1 Suitable for Control Valves Used in Oil & Gas Industry
13.4.1.2 Piston Actuators
13.4.1.2.1 Designed for Butterfly Valves Used in Food, Chemicals, and Pharmaceutical Industries
13.4.2 Electric Actuators
13.4.2.1 Wide Use in Water & Wastewater Treatment and Chemical Plants to Boost Segmental Growth
13.4.3 Hydraulic Actuators
13.4.3.1 Integration of Hydraulic Actuators in HVAC, Fire Protection, and Irrigation Systems to Propel Market Growth
Table 161 Actuators: Industrial Valves Market, by Type, 2019-2022 (USD Million)
Table 162 Actuators: Industrial Valves Market, by Type, 2023-2028 (USD Million)
13.5 Valve Body
13.5.1 Rising Demand for Valve Bodies Featuring High Corrosion Resistance and Better Chemical Compatibility to Support Segmental Growth
13.6 Other Components

14 Appendix
14.1 Insights from Industry Experts
14.2 Discussion Guide
14.3 Knowledgestore: The Subscription Portal
14.4 Customization Options

Companies Mentioned

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

Methodology

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Table Information