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Steam Trap Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global steam trap market reached a value of US$ 3.8 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.4% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor. 

A steam trap refers to an automatic valve used to release condensates and non-condensates, including carbon dioxide (CO2) and oxygen (O2), from the steam lines. It acts as a drain valve and aids in the separation of condensable gases from the steam system to generate latent heat and transfer it to the desired product. Some of the commonly used steam traps include mechanical, thermostatic and thermodynamic traps. The mechanical or density-operated steam traps separate the steam from heavy condensates based on their densities and only discharge the condensates while retaining the steam. The thermostatic variants consist of a port, which opens or closes on the basis of the temperature of the inlet material. The trap only allows the movement of cooler gases through the system and retains the warmer steam for further utilization. The thermodynamic, or kinetic energy-operated steam trap, operates by releasing flash steam from the flowing hot condensates. They aid in minimizing the wastage of steam and CO2 emissions into the environment. As a result, they are widely used in industrial storage tanks, steamers, pressure reducing valve stations, heat exchangers and reboilers.

Global Steam Trap Market Trends: Significant Growth in the Oil and Gas Industry

With the increasing automation in the oil and gas industry and the growing number of offshore and onshore exploratory activities across the globe, there is a substantial rise in the requirement for durable and light-weight steam traps with longer shelf life. In the oilfields, steam traps are largely used for steam-assisted gravity-drainage processes. They act as a physical barrier to block the flow of injected steam formed in a producing well containing large volumes of oil and water. They are also used for fluid catalytic cracking and decoking processes in the oil and gas refineries to separate a small amount of steam from the hydrogen present in coke. In line with this, industrial plants use steel-based steam traps to transport the latent heat from process exchangers and drain the condensates. The steel variants provide enhanced design flexibility, cost-effectiveness and operational reliability of the steam system and ensure that the steam trap is able to withstand freeze-ups without damage. As a result, they are widely used in industrial dryers, evaporators, vulcanizers, process vats and autoclaves.

Advancements in Product Variants

Product manufacturers are developing innovative steam traps that are used in bio industries for the manufacturing of pharmaceuticals and medical sterilizers and supplying clean steam. The interior and exterior surfaces of the steam trap are manufactured with crevice-free designs using stainless steel to prevent the accumulation of condensates, boiler additives and rust that can cause infections. They are also extensively used with steam distribution and condensate collection systems for effective heat tracing applications and maintaining desired temperature, viscosity control and freeze protection within a fluid. Novel variants are equipped with strainers, check valves, air vents and self-draining systems to prevent damage caused by freezing during plant shutdown. They also assist in the quick start-up of the plant with continuous venting of air and carbon dioxide. In line with this, the advent of wireless steam trap systems is also favoring the market growth. These advanced variants are manufactured with thermocouple sensors that take temperature readings at periodic intervals and transmit the signal to a remotely accessible digital interface.

Development of Steam Trap Monitoring Systems

Novel steam traps are integrated with innovative monitoring systems that get activated in case the steam trap breaks down. It drains the condensates present in the system and vents them back to inhibit heat transfer and process temperature control. It also aids in diminishing the problems associated with water hammer or pressure rise and thermal shock or thermal stress, thereby minimizing the wastage of energy. It consists of gate-type valves, such as an isolation valve located upstream of the trap and a test and isolation valve located downstream of the trap. The monitoring systems are available in both manual and wireless technologies. The manual steam trap monitoring systems utilize an ultrasonic instrument or a heat gun to measure the temperature changes periodically. On the other hand, wireless systems use thermocouple sensors to take the temperature readings automatically at pre-defined intervals. The sensors transmit the readings to a dedicated platform to provide meaningful insights about the steam trap system and assist in predicting any faults by analyzing the received information.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global steam trap market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on product type, distribution channel, application, material type and end use industry.

Breakup by Product Type:

  • Thermodynamic
  • Mechanical
  • Thermostatic
     

Breakup by Application:

  • Instrument Steam Tracing
  • Line Steam Tracing
  • Drip Application
  • Process Application
  • Others
     

Breakup by Material Type:

  • Steel
  • Iron
  • Others
     

Breakup by Distribution Channel:

  • Online
  • Offline


Breakup by End-Use Industry:

  • Oil & Gas
  • Power Generation
  • Pharmaceuticals
  • Food & Beverages
  • Pulp & Paper
  • Chemical
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa


Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being Circor International Inc., Emerson Electric Co., Flowserve Corporation, Pentair Inc., Schlumberger Limited, Spirax-Sarco Engineering, Thermax Ltd., Velan Inc., Watts Water Technologies Inc., The Weir Group PLC, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Billion
Segment Coverage Product Type, Application, Material Type, Distribution Channel, End-Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Circor International Inc., Emerson Electric Co., Flowserve Corporation, Pentair Inc., Schlumberger Limited, Spirax-Sarco Engineering, Thermax Ltd., Velan Inc., Watts Water Technologies Inc. and The Weir Group PLC
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Steam Trap Market
    5.1    Market Overview
    5.2    Market Performance
    5.3   Impact of COVID-19 
    5.4    Market Forecast
6   Market Breakup by Product Type 
    6.1    Thermodynamic
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Mechanical
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Thermostatic
        6.3.1 Market Trends
        6.3.2 Market Forecast
7   Market Breakup by Application
    7.1    Instrument Steam Tracing
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Line Steam Tracing
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Drip Application
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Process Application
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8   Market Breakup by Material Type
    8.1    Steel
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Iron
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Others
        8.3.1 Market Trends
        8.3.2 Market Forecast
9   Market Breakup by Distribution Channel
    9.1    Online
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Offline
        9.2.1 Market Trends
        9.2.2 Market Forecast
10  Market Breakup by End-Use Industry
    10.1    Oil & Gas
        10.1.1 Market Trends
        10.1.2 Market Forecast
    10.2    Power Generation
        10.2.1 Market Trends
        10.2.2 Market Forecast
    10.3    Pharmaceuticals
        10.3.1 Market Trends
        10.3.2 Market Forecast
    10.4    Food & Beverages
        10.4.1 Market Trends
        10.4.2 Market Forecast
    10.5    Pulp & Paper
        10.5.1 Market Trends
        10.5.2 Market Forecast
    10.6    Chemical
        10.6.1 Market Trends
        10.6.2 Market Forecast
    10.7    Others
        10.7.1 Market Trends
        10.7.2 Market Forecast
11  Market Breakup by Region
    11.1    North America
        11.1.1 United States
           11.1.1.1 Market Trends
           11.1.1.2 Market Forecast
        11.1.2 Canada
           11.1.2.1 Market Trends
           11.1.2.2 Market Forecast
    11.2    Asia Pacific
        11.2.1 China
           11.2.1.1 Market Trends
           11.2.1.2 Market Forecast
        11.2.2 Japan
           11.2.2.1 Market Trends
           11.2.2.2 Market Forecast
        11.2.3 India
           11.2.3.1 Market Trends
           11.2.3.2 Market Forecast
        11.2.4 South Korea
           11.2.4.1 Market Trends
           11.2.4.2 Market Forecast
        11.2.5 Australia
           11.2.5.1 Market Trends
           11.2.5.2 Market Forecast
        11.2.6 Indonesia
           11.2.6.1 Market Trends
           11.2.6.2 Market Forecast
        11.2.7 Others
           11.2.7.1 Market Trends
           11.2.7.2 Market Forecast
    11.3    Europe
        11.3.1 Germany
           11.3.1.1 Market Trends
           11.3.1.2 Market Forecast
        11.3.2 France
           11.3.2.1 Market Trends
           11.3.2.2 Market Forecast
        11.3.3 United Kingdom
           11.3.3.1 Market Trends
           11.3.3.2 Market Forecast
        11.3.4 Italy
           11.3.4.1 Market Trends
           11.3.4.2 Market Forecast
        11.3.5 Spain
           11.3.5.1 Market Trends
           11.3.5.2 Market Forecast
        11.3.6 Russia
           11.3.6.1 Market Trends
           11.3.6.2 Market Forecast
        11.3.7 Others
           11.3.7.1 Market Trends
           11.3.7.2 Market Forecast
    11.4    Latin America
        11.4.1 Brazil
           11.4.1.1 Market Trends
           11.4.1.2 Market Forecast
        11.4.2 Mexico
           11.4.2.1 Market Trends
           11.4.2.2 Market Forecast
        11.4.3 Others
           11.4.3.1 Market Trends
           11.4.3.2 Market Forecast
    11.5    Middle East and Africa
        11.5.1 Market Trends
        11.5.2 Market Breakup by Country
        11.5.3 Market Forecast
12  SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13  Value Chain Analysis
14  Porters Five Forces Analysis

    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15  Price Indicators
16  Competitive Landscape

    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players
        16.3.1    Circor International Inc.
           16.3.1.1 Company Overview
           16.3.1.2 Product Portfolio 
           16.3.1.3 Financials 
           16.3.1.4 SWOT Analysis
        16.3.2    Emerson Electric Co.
           16.3.2.1 Company Overview
           16.3.2.2 Product Portfolio
           16.3.2.3 Financials 
           16.3.2.4 SWOT Analysis
        16.3.3    Flowserve Corporation
           16.3.3.1 Company Overview
           16.3.3.2 Product Portfolio 
           16.3.3.3 Financials 
           16.3.3.4 SWOT Analysis
        16.3.4    Pentair Inc.
           16.3.4.1 Company Overview
           16.3.4.2 Product Portfolio 
        16.3.5    Schlumberger Limited
           16.3.5.1 Company Overview
           16.3.5.2 Product Portfolio 
           16.3.5.3 Financials 
           16.3.5.4 SWOT Analysis
        16.3.6    Spirax-Sarco Engineering
           16.3.6.1 Company Overview
           16.3.6.2 Product Portfolio
           16.3.6.3 Financials 
           16.3.6.4 SWOT Analysis
        16.3.7    Thermax Ltd.
           16.3.7.1 Company Overview
           16.3.7.2 Product Portfolio 
           16.3.7.3 Financials 
        16.3.8    Velan Inc.
           16.3.8.1 Company Overview
           16.3.8.2 Product Portfolio
           16.3.8.3 Financials 
           16.3.8.4 SWOT Analysis
        16.3.9    Watts Water Technologies Inc.
           16.3.9.1 Company Overview
           16.3.9.2 Product Portfolio 
           16.3.9.3 Financials 
        16.3.10    The Weir Group PLC
           16.3.10.1 Company Overview
           16.3.10.2 Product Portfolio 
           16.3.10.3 Financials 

List of Figures

Figure 1: Global: Steam Trap Market: Major Drivers and Challenges
Figure 2: Global: Steam Trap Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Steam Trap Market: Breakup by Product Type (in %), 2020
Figure 4: Global: Steam Trap Market: Breakup by Application (in %), 2020
Figure 5: Global: Steam Trap Market: Breakup by Material Type (in %), 2020
Figure 6: Global: Steam Trap Market: Breakup by Distribution Channel (in %), 2020
Figure 7: Global: Steam Trap Market: Breakup by End-Use Industry (in %), 2020
Figure 8: Global: Steam Trap Market: Breakup by Region (in %), 2020
Figure 9: Global: Steam Trap Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 10: Global: Steam Trap (Thermodynamic) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: Global: Steam Trap (Thermodynamic) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: Steam Trap (Mechanical) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Steam Trap (Mechanical) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Steam Trap (Thermostatic) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Steam Trap (Thermostatic) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Steam Trap (Instrument Steam Tracing) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Steam Trap (Instrument Steam Tracing) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Steam Trap (Line Steam Tracing) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Steam Trap (Line Steam Tracing) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Steam Trap (Drip Application) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Steam Trap (Drip Application) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: Steam Trap (Process Application) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: Steam Trap (Process Application) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: Steam Trap (Others) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: Steam Trap (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: Steam Trap (Steel) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Global: Steam Trap (Steel) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Global: Steam Trap (Iron) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Global: Steam Trap (Iron) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Global: Steam Trap (Others) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Global: Steam Trap (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Global: Steam Trap (Online) Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: Global: Steam Trap (Online) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Global: Steam Trap (Offline) Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: Global: Steam Trap (Offline) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: Global: Steam Trap (Oil & Gas) Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: Global: Steam Trap (Oil & Gas) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: Global: Steam Trap (Power Generation) Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: Global: Steam Trap (Power Generation) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Global: Steam Trap (Pharmaceuticals) Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Global: Steam Trap (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Global: Steam Trap (Food & Beverages) Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Global: Steam Trap (Food & Beverages) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: Global: Steam Trap (Pulp & Paper) Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: Global: Steam Trap (Pulp & Paper) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: Global: Steam Trap (Chemical) Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: Global: Steam Trap (Chemical) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: Global: Steam Trap (Other Industries) Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: Global: Steam Trap (Other Industries) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: North America: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: North America: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: United States: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: United States: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Canada: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 55: Canada: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: Asia Pacific: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: Asia Pacific: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: China: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 59: China: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 60: Japan: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 61: Japan: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 62: India: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 63: India: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 64: South Korea: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 65: South Korea: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 66: Australia: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 67: Australia: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 68: Indonesia: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 69: Indonesia: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 70: Others: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 71: Others: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 72: Europe: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 73: Europe: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 74: Germany: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 75: Germany: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 76: France: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 77: France: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 78: United Kingdom: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 79: United Kingdom: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 80: Italy: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 81: Italy: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 82: Spain: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 83: Spain: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 84: Russia: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 85: Russia: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 86: Others: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 87: Others: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 88: Latin America: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 89: Latin America: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 90: Brazil: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 91: Brazil: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 92: Mexico: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 93: Mexico: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 94: Others: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 95: Others: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 96: Middle East and Africa: Steam Trap Market: Sales Value (in Million US$), 2015 & 2020
Figure 97: Middle East and Africa: Steam Trap Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 98: Global: Steam Trap Industry: SWOT Analysis
Figure 99: Global: Steam Trap Industry: Value Chain Analysis
Figure 100: Global: Steam Trap Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Steam Trap Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Steam Trap Market Forecast: Breakup by Product Type (in Million US$), 2021-2026
Table 3: Global: Steam Trap Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 4: Global: Steam Trap Market Forecast: Breakup by Material Type (in Million US$), 2021-2026
Table 5: Global: Steam Trap Market Forecast: Breakup by Distribution Channel (in Million US$), 2021-2026
Table 6: Global: Steam Trap Market Forecast: Breakup by End-Use Industry (in Million US$), 2021-2026
Table 7: Global: Steam Trap Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 8: Global: Steam Trap Market Structure
Table 9: Global: Steam Trap Market: Key Players

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Key Question Answered in this Report

The global steam trap market reached a value of US$ 3.8 Billion in 2020.

According to the estimates by IMARC Group, the global steam trap market is expected to grow at a CAGR of 4.4% during 2021-2026.

The increasing automation in the oil and gas industry, coupled with the growing number of offshore and onshore exploratory activities, is currently driving the global steam trap market.

Several product innovations have led to the emergence of novel steam traps that are integrated with advanced monitoring systems for minimizing CO2 emissions in the environment, thereby representing one of the key trends in the global steam trap market.

Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end-use industries for steam traps, including pulp and paper, food and beverages, chemical, etc., thereby hampering the overall product demand.

On the basis of the application, the market has been classified into instrument steam tracing, line steam tracing, drip application, process application, and others. At present, instrument steam tracing exhibit a clear dominance in the market.

On the basis of the material type, the market has been categorized into steel, iron, and others, where steel currently accounts for the majority of the total market share.

On the basis of the end-use industry, the market has been divided into oil & gas, power generation, pharmaceuticals, food & beverages, pulp & paper, chemical, and others. At present, the oil & gas sector exhibits a clear dominance in the market.

Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.

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