The global steam trap market is expected to grow from US$ 3745.5 million in 2021 and is projected to reach US$ 5642.4 million by 2028; it is expected to grow at a CAGR of 6.0% from 2021 to 2028.
Rising developments and investments in energy & power sectors is attributed to the demand for the market. Energy consumption has surged manifolds with a continuous rise in industrial growth and urbanization across the globe. Thus, to meet the mounting power requirements, there has been growth in the establishment of intrastate transmission and sub-transmission networks. The demand for energy and power is set to increase further due to constantly growing household incomes and expanding manufacturing and heavy industries. The renewable energy also plays significant role in providing access to electricity. The requirement of electricity across both the developed and developing nations such as United States, United Kingdom, Germany, Australia, China and India amongst others has been growing significantly over the years, which provides potential for the renewable energy sector.
The New Scotland Electric Transmission Upgrade Project is expected to improve future electrical grid installation and reduce power line congestion. A general power generation machine has a steam trap for efficient power generation using renewable energy sources. Because of the growing gap between power demand and supply, the dynamics of the energy sector is constantly changing. Furthermore, in the developing economies, the governments are aggressively supporting the development of the energy & power sector by taking several initiatives by proposing loans, capital market access, local currency products, and risk management. The development of the energy & power sector propels the demand for steam trap, which bolsters the growth of the steam trap market
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Steam Trap Market: Strategic Insights
Market Size Value in US$ 3745.5 million in 2021 Market Size Value by US$ 5642.4 million by 2028 Growth rate CAGR of 6.0% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Steam Trap Market: Strategic Insights
| Market Size Value in | US$ 3745.5 million in 2021 |
| Market Size Value by | US$ 5642.4 million by 2028 |
| Growth rate | CAGR of 6.0% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Countries, such as India and Myanmar, have been experiencing high investments in several energy and power projects over the past a few years. In June 2021, the Odisha government approved an investment of US$. 222.789 Mn in projects mainly focusing on the power sector. Also, in February 2021, the Indian government inaugurated two power projects in Kerala. Thus, increasing investments in energy and power infrastructure across the world are offering enormous prospects for steam trap industry players, which fuels the growth of the steam tram market.
Impact of COVID-19 Pandemic on Steam Trap Market
The steam trap manufacturing industry across the globe has been negatively impacted due during the pandemic owing to disruptions in supply chains for raw materials as well as components. The closure of all manufacturing activities across the globe have led to the decline in demand for steam traps from the manufacturing sector. Also owing to import and export restrictions the trading of the same was also hampered thereby leaving a negative impact on the market.
Lucrative Regions in Steam Trap Market
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Market Insights –
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Steam Trap Market
Development of IoT Sensor Technology for Steam Traps
The market players are robustly developing battery-less IoT systems integrated with the steam traps to provide cost-saving solutions across different industrial environments. The researchers at the University of Michigan and the University of Virginia are focusing on developing the semiconductor design technology to solve the battery issue with a suite of self-powered sensing systems, which are maintenance free. The market players are concentrating on developing IoT sensors. For instance, Everactive (previously known as PsiKick, Inc.) is engaged in replacing around 18 million batteries per day. The constant steam trap monitoring through IoT sensors provides real-time visibility into the steam system for cost-effective steam trap maintenance. The steam trap monitoring system helps in saving energy cost, avoiding the upfront cost, reducing downtime, shrinking carbon footprints, and improving safety. Thus, the rising development of IoT sensor technology for steam traps is expected to support the growth of the steam trap market in the future.
Product Type-Based Insights
Based on product type, the steam trap market is segmented into mechanical, thermodynamic, and thermostatic. The mechanical segment held the largest market share in 2020. Mechanical steam traps operate efficiently by using the variation in density between steam and condensate. These steam traps continuously bypass the large volumes of condensate and are applicable for a comprehensive range of process applications. The types of mechanical steam traps such as inverted buckets and ball float steam traps are available in the market. The pressure difference between the water and steam makes the stainless-steel float ball to rise, and the trap enables the opening and closing of valve.
Players operating in the steam trap market are mainly focused on the development of advanced and efficient products.
- In 2021, Richards Industrials, the manufacturer of valves, regulators and other flow control products announced the acquisition of Equilibar LLC. Equilibar LLC provides a broad range of back pressure, vacuum, and electronic regulators, along with specialty valves and other fluid control products.
- In 2019, Emerson Electric Co. had named Spartan Controls as the representative for Yarway Steam Traps in Western Canada, a product brand acquired from the Valves & Controls business unit of Pentair. Spartan Controls would represent and support Yarway steam trap and strainer products.
The steam trap market has been segmented as follows:
Steam Trap Market – by Product Type
- Mechanical
- Thermodynamic
- Thermostatic
Steam Trap Market – by Application
- Drip
- Tracing
- Process
Steam Trap Market – by End-User
- Oil and Gas
- Pharmaceuticals
- Food and Beverage
- Pulp and Paper
- Others
Steam Trap Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Steam Trap Market – Company Profiles
- Bestobell Steam Traps
- Emerson Electric Co
- Thermal Energy International Inc.
- Spirax-Sarco Engineering plc
- Forbes Marshall
- CIRCOR International, Inc.
- Flowserve Corporation
- Velan Inc.
- Watson McDaniel
- Watts Water Technologies, Inc
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Application, End-User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Steam Trap Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America– PEST Analysis
4.2.2 Europe – PEST Analysis
4.2.3 APAC – PEST Analysis
4.2.4 MEA – PEST Analysis
4.2.5 SAM – PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Steam Trap Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Developments and Investments in Energy & Power Sectors
5.1.2 Increasing Investment in Oil & Gas Projects Across the Globe
5.2 Market Restraints
5.2.1 Lack of Efficient Maintenance Programs for Steam Traps
5.3 Market Opportunities
5.3.1 Continuous Growth in Manufacturing Sector
5.4 Market Trends
5.4.1 Development of IoT Sensor Technology for Steam Traps
5.5 Impact Analysis of Drivers and Restraints
6. Steam Trap Market– Global Market Analysis
6.1 Steam Trap Market Overview
6.2 Steam Trap Market Forecast and Analysis
6.3 Market Positioning – North America and Europe Market Players Ranking
7. Steam Trap Market Analysis – By Product Type
7.1 Overview
7.2 Steam Trap Market, By Product Type (2020 and 2028)
7.3 Mechanical
7.3.1 Overview
7.3.2 Mechanical: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
7.4 Thermodynamic
7.4.1 Overview
7.4.2 Thermodynamic: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
7.5 Thermostatic
7.5.1 Overview
7.5.2 Thermostatic: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
8. Steam Trap Market Analysis – By Application
8.1 Overview
8.2 Steam Trap Market, By Application (2020 and 2028)
8.3 Drip
8.3.1 Overview
8.3.2 Drip: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
8.4 Tracing
8.4.1 Overview
8.4.2 Tracing: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
8.5 Process
8.5.1 Overview
8.5.2 Process: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
9. Steam Trap Market Analysis – By End-User
9.1 Overview
9.2 Steam Trap Market, By End-User (2020 and 2028)
9.3 Oil and Gas
9.3.1 Overview
9.3.2 Oil and Gas: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
9.4 Pharmaceuticals
9.4.1 Overview
9.4.2 Pharmaceuticals: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
9.5 Food and Beverage
9.5.1 Overview
9.5.2 Food and Beverage: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
9.6 Pulp and Paper
9.6.1 Overview
9.6.2 Pulp and Paper: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
9.7 Others
9.7.1 Overview
9.7.2 Others: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
10. Steam Trap Market – Geographic Analysis
10.1 Overview
10.2 North America: Steam Trap Market
10.2.1 North America: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.2.2 North America: Steam Trap Market, by Product Type
10.2.3 North America: Steam Trap Market, by Application
10.2.4 North America: Steam Trap Market, by End-User
10.2.5 North America: Steam Trap Market, by Key Country
10.2.5.1 US: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.2.5.1.1 US: Steam Trap Market, by Product Type
10.2.5.1.2 US: Steam Trap Market, by Application
10.2.5.1.3 US: Steam Trap Market, by End-User
10.2.5.2 Canada: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.2.5.2.1 Canada: Steam Trap Market, by Product Type
10.2.5.2.2 Canada: Steam Trap Market, by Application
10.2.5.2.3 Canada: Steam Trap Market, by End-User
10.2.5.3 Mexico: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.2.5.3.1 Mexico: Steam Trap Market, by Product Type
10.2.5.3.2 Mexico: Steam Trap Market, by Application
10.2.5.3.3 Mexico: Steam Trap Market, by End-User
10.3 Europe: Steam Trap Market
10.3.1 Europe: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.3.2 Europe: Steam Trap Market, by Product Type
10.3.3 Europe: Steam Trap Market, by Application
10.3.4 Europe: Steam Trap Market, by End-User
10.3.5 Europe: Steam Trap Market, by Key Country
10.3.5.1 Germany: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.3.5.1.1 Germany: Steam Trap Market, by Product Type
10.3.5.1.2 Germany: Steam Trap Market, by Application
10.3.5.1.3 Germany: Steam Trap Market, by End-User
10.3.5.2 France: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.3.5.2.1 France: Steam Trap Market, by Product Type
10.3.5.2.2 France: Steam Trap Market, by Application
10.3.5.2.3 France: Steam Trap Market, by End-User
10.3.5.3 Italy: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.3.5.3.1 Italy: Steam Trap Market, by Product Type
10.3.5.3.2 Italy: Steam Trap Market, by Application
10.3.5.3.3 Italy: Steam Trap Market, by End-User
10.3.5.4 UK: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.3.5.4.1 UK: Steam Trap Market, by Product Type
10.3.5.4.2 UK: Steam Trap Market, by Application
10.3.5.4.3 UK: Steam Trap Market, by End-User
10.3.5.5 Russia: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.3.5.5.1 Russia: Steam Trap Market, by Product Type
10.3.5.5.2 Russia: Steam Trap Market, by Application
10.3.5.5.3 Russia: Steam Trap Market, by End-User
10.3.5.6 Rest of Europe: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.3.5.6.1 Rest of Europe: Steam Trap Market, by Product Type
10.3.5.6.2 Rest of Europe: Steam Trap Market, by Application
10.3.5.6.3 Rest of Europe: Steam Trap Market, by End-User
10.4 Asia Pacific: Steam Trap Market
10.4.1 Asia Pacific: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.4.2 Asia Pacific: Steam Trap Market, by Product Type
10.4.3 Asia Pacific: Steam Trap Market, by Application
10.4.4 Asia Pacific: Steam Trap Market, by End-User
10.4.5 Asia Pacific: Steam Trap Market, by Key Country
10.4.5.1 Australia: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.4.5.1.1 Australia: Steam Trap Market, by Product Type
10.4.5.1.2 Australia: Steam Trap Market, by Application
10.4.5.1.3 Australia: Steam Trap Market, by End-User
10.4.5.2 China: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.4.5.2.1 China: Steam Trap Market, by Product Type
10.4.5.2.2 China: Steam Trap Market, by Application
10.4.5.2.3 China: Steam Trap Market, by End-User
10.4.5.3 India: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.4.5.3.1 India: Steam Trap Market, by Product Type
10.4.5.3.2 India: Steam Trap Market, by Application
10.4.5.3.3 India: Steam Trap Market, by End-User
10.4.5.4 Japan: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.4.5.4.1 Japan: Steam Trap Market, by Product Type
10.4.5.4.2 Japan: Steam Trap Market, by Application
10.4.5.4.3 Japan: Steam Trap Market, by End-User
10.4.5.5 South Korea: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.4.5.5.1 South Korea: Steam Trap Market, by Product Type
10.4.5.5.2 South Korea: Steam Trap Market, by Application
10.4.5.5.3 South Korea: Steam Trap Market, by End-User
10.4.5.6 Rest of Asia Pacific: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.4.5.6.1 Rest of Asia Pacific: Steam Trap Market, by Product Type
10.4.5.6.2 Rest of Asia Pacific: Steam Trap Market, by Application
10.4.5.6.3 Rest of Asia Pacific: Steam Trap Market, by End-User
10.5 Middle East & Africa (MEA): Steam Trap Market
10.5.1 MEA: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.5.2 MEA: Steam Trap Market, by Product Type
10.5.3 MEA: Steam Trap Market, by Application
10.5.4 MEA: Steam Trap Market, by End-User
10.5.5 MEA: Steam Trap Market, by Key Country
10.5.5.1 South Africa: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.5.5.1.1 South Africa: Steam Trap Market, by Product Type
10.5.5.1.2 South Africa: Steam Trap Market, by Application
10.5.5.1.3 South Africa: Steam Trap Market, by End-User
10.5.5.2 Saudi Arabia: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.5.5.2.1 Saudi Arabia: Steam Trap Market, by Product Type
10.5.5.2.2 Saudi Arabia: Steam Trap Market, by Application
10.5.5.2.3 Saudi Arabia: Steam Trap Market, by End-User
10.5.5.3 UAE: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.5.5.3.1 UAE: Steam Trap Market, by Product Type
10.5.5.3.2 UAE: Steam Trap Market, by Application
10.5.5.3.3 UAE: Steam Trap Market, by End-User
10.5.5.4 Rest of MEA: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.5.5.4.1 Rest of MEA: Steam Trap Market, by Product Type
10.5.5.4.2 Rest of MEA: Steam Trap Market, by Application
10.5.5.4.3 Rest of MEA: Steam Trap Market, by End-User
10.6 South America: Steam Trap Market
10.6.1 South America: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.6.2 South America: Steam Trap Market, by Product Type
10.6.3 South America: Steam Trap Market, by Application
10.6.4 South America: Steam Trap Market, by End-User
10.6.5 South America: Steam Trap Market, by Key Country
10.6.5.1 Brazil: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.6.5.1.1 Brazil: Steam Trap Market, by Product Type
10.6.5.1.2 Brazil: Steam Trap Market, by Application
10.6.5.1.3 Brazil: Steam Trap Market, by End-User
10.6.5.2 Argentina: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.6.5.2.1 Argentina: Steam Trap Market, by Product Type
10.6.5.2.2 Argentina: Steam Trap Market, by Application
10.6.5.2.3 Argentina: Steam Trap Market, by End-User
10.6.5.3 Rest of SAM: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
10.6.5.3.1 Rest of SAM: Steam Trap Market, by Product Type
10.6.5.3.2 Rest of SAM: Steam Trap Market, by Application
10.6.5.3.3 Rest of SAM: Steam Trap Market, by End-User
11. Impact of COVID-19 Pandemic on Global Steam Trap Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment of COVID-19 Pandemic
11.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.5 South America Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development
13. Company Profiles
13.1 Bestobell Steam Traps
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 CIRCOR International, Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Emerson Electric Co.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Flowserve Corporation
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Thermal Energy International Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Spirax-Sarco Engineering plc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Forbes Marshall
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Velan Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Watson McDaniel
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Watts Water Technologies, Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Steam Trap Market– Revenue and Forecast to 2027 (INR Million)
Table 2. North America: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 3. North America: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 4. North America: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 5. North America Steam Trap Market, by Country – Revenue and Forecast to 2028 (INR Million)
Table 6. US: Steam Trap Market, by Product Type –Revenue and Forecast to 2028 (INR Million)
Table 7. US: Steam Trap Market, by Application –Revenue and Forecast to 2028 (INR Million)
Table 8. US: Steam Trap Market, by End-User –Revenue and Forecast to 2028 (INR Million)
Table 9. Canada: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 10. Canada: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 11. Canada: Steam Trap Market, by End-User –Revenue and Forecast to 2028 (INR Million)
Table 12. Mexico: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 13. Mexico: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 14. Mexico: Steam Trap Market, by End-User –Revenue and Forecast to 2028 (INR Million)
Table 15. Europe: Steam Trap Market, by Product Type– Revenue and Forecast to 2028 (INR Million)
Table 16. Europe: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 17. Europe: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 18. Europe Steam Trap Market, by Country – Revenue and Forecast to 2028 (INR Million)
Table 19. Germany: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 20. Germany: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 21. Germany: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 22. France: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 23. France: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 24. France: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 25. Italy: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 26. Italy: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 27. Italy: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 28. UK: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 29. UK: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 30. UK: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 31. Russia: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 32. Russia: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 33. Russia: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 34. Rest of Europe: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 35. Rest of Europe: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 36. Rest of Europe: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 37. Asia Pacific: Steam Trap Market, by Product Type– Revenue and Forecast to 2028 (INR Million)
Table 38. Asia Pacific: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 39. Asia Pacific: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 40. Asia Pacific Steam Trap Market, by Country – Revenue and Forecast to 2028 (INR Million)
Table 41. Australia: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 42. Australia: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 43. Australia: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 44. China: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 45. China: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 46. China: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 47. India: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 48. India: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 49. India: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 50. Japan: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 51. Japan: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 52. Japan: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 53. South Korea: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 54. South Korea: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 55. South Korea: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 56. Rest of Asia Pacific: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 57. Rest of Asia Pacific: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 58. Rest of Asia Pacific: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 59. MEA: Steam Trap Market, by Product Type– Revenue and Forecast to 2028 (INR Million)
Table 60. MEA: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 61. MEA: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 62. MEA Steam Trap Market, by Country – Revenue and Forecast to 2028 (INR Million)
Table 63. South Africa: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 64. South Africa: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 65. South Africa: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 66. Saudi Arabia: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 67. Saudi Arabia: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 68. Saudi Arabia: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 69. UAE: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 70. UAE: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 71. UAE: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 72. Rest of MEA: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 73. Rest of MEA: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 74. Rest of MEA: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 75. South America: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 76. South America: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 77. South America: Steam Trap Market, by End-User – Revenue and Forecast to 2028 (INR Million)
Table 78. South America Steam Trap Market, by Country – Revenue and Forecast to 2028 (INR Million)
Table 79. Brazil: Steam Trap Market, by Product Type –Revenue and Forecast to 2028 (INR Million)
Table 80. Brazil: Steam Trap Market, by Application –Revenue and Forecast to 2028 (INR Million)
Table 81. Brazil: Steam Trap Market, by End-User –Revenue and Forecast to 2028 (INR Million)
Table 82. Argentina: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 83. Argentina: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 84. Argentina: Steam Trap Market, by End-User –Revenue and Forecast to 2028 (INR Million)
Table 85. Rest of SAM: Steam Trap Market, by Product Type – Revenue and Forecast to 2028 (INR Million)
Table 86. Rest of SAM: Steam Trap Market, by Application – Revenue and Forecast to 2028 (INR Million)
Table 87. Rest of SAM: Steam Trap Market, by End-User –Revenue and Forecast to 2028 (INR Million)
Table 88. List of Abbreviation
LIST OF FIGURES
Figure 1. Steam trap market Segmentation
Figure 2. Steam trap market Segmentation – By Geography
Figure 3. Steam Trap Market Overview
Figure 4. Mechanical Product Type to Dominate the Steam Trap Market
Figure 5. Tracing Application to Dominate the Steam Trap Market
Figure 6. Oil and Gas End-User to Dominate the Steam Trap Market
Figure 7. North America to Dominate the Steam Trap Market
Figure 8. North America– PEST Analysis
Figure 9. Europe – PEST Analysis
Figure 10. APAC – PEST Analysis
Figure 11. MEA – PEST Analysis
Figure 12. SAM – PEST Analysis
Figure 13. Steam Trap Market – Ecosystem Analysis
Figure 14. Expert Opinion
Figure 15. Global Steam Trap Market Impact Analysis of Drivers and Restraints
Figure 16. Steam Trap Market– Geographic Analysis
Figure 17. Steam Trap Market Forecast and Analysis (INR Million)
Figure 18. Steam Trap Market Revenue Share, by Product Type (2020 and 2028)
Figure 19. Mechanical: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
Figure 20. Thermodynamic: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
Figure 21. Thermostatic: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
Figure 22. Steam Trap Market Revenue Share, by Application (2020 and 2028)
Figure 23. Drip: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
Figure 24. Tracing: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
Figure 25. Process: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
Figure 26. Steam Trap Market Revenue Share, by End-User (2020 and 2028)
Figure 27. Oil and Gas: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
Figure 28. Pharmaceuticals: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
Figure 29. Food and Beverage: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
Figure 30. Pulp and Paper: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
Figure 31. Others: Steam Trap Market – Revenue, and Forecast to 2028 (INR Million)
Figure 32. Global Steam Trap Market Revenue Share, by region (2020 and 2028)
Figure 33. North America: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 34. North America: Steam Trap Market Revenue Share, by Product Type (2020 and 2028)
Figure 35. North America: Steam Trap Market Revenue Share, by Application (2020 and 2028)
Figure 36. North America: Steam Trap Market Revenue Share, by End-User (2020 and 2028)
Figure 37. North America: Steam Trap Market Revenue Share, by Key Country (2020 and 2028)
Figure 38. US: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 39. Canada: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 40. Mexico: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 41. Europe: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 42. Europe: Steam Trap Market Revenue Share, by Product Type (2020 and 2028)
Figure 43. Europe: Steam Trap Market Revenue Share, by Application (2020 and 2028)
Figure 44. Europe: Steam Trap Market Revenue Share, by End-User (2020 and 2028)
Figure 45. Europe: Steam Trap Market Revenue Share, by Key Country (2020 and 2028)
Figure 46. Germany: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 47. France: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 48. Italy: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 49. UK: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 50. Russia: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 51. Rest of Europe: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 52. Asia Pacific: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 53. Asia Pacific: Steam Trap Market Revenue Share, by Product Type (2020 and 2028)
Figure 54. Asia Pacific: Steam Trap Market Revenue Share, by Application (2020 and 2028)
Figure 55. Asia Pacific: Steam Trap Market Revenue Share, by End-User (2020 and 2028)
Figure 56. Asia Pacific: Steam Trap Market Revenue Share, by Key Country (2020 and 2028)
Figure 57. Australia: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 58. China: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 59. India: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 60. Japan: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 61. South Korea: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 62. Rest of Asia Pacific: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 63. MEA: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 64. MEA: Steam Trap Market Revenue Share, by Product Type (2020 and 2028)
Figure 65. MEA: Steam Trap Market Revenue Share, by Application (2020 and 2028)
Figure 66. MEA: Steam Trap Market Revenue Share, by End-User (2020 and 2028)
Figure 67. MEA: Steam Trap Market Revenue Share, by Key Country (2020 and 2028)
Figure 68. South Africa: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 69. Saudi Arabia: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 70. UAE Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 71. Rest of MEA: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 72. South America: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 73. South America: Steam Trap Market Revenue Share, by Product Type (2020 and 2028)
Figure 74. South America: Steam Trap Market Revenue Share, by Application (2020 and 2028)
Figure 75. South America: Steam Trap Market Revenue Share, by End-User (2020 and 2028)
Figure 76. South America: Steam Trap Market Revenue Share, by Key Country (2020 and 2028)
Figure 77. Brazil: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 78. Argentina: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 79. Rest of SAM: Steam Trap Market – Revenue and Forecast to 2028 (INR Million)
Figure 80. Impact of COVID-19 Pandemic in North American Country Markets
Figure 81. Impact of COVID-19 Pandemic In Europe Country Markets
Figure 82. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 83. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
Figure 84. Impact of COVID-19 Pandemic In South America Country Markets
The List of Companies - Steam Trap Market
- Bestobell Steam Traps
- Circor International, Inc.
- Emerson Electric Co.
- Flowserve Corporation
- Forbes Marshall
- Spirax-Sarco Engineering Plc
- Thermal Energy International Inc.
- Velan Inc.
- Watson McDaniel
- Watts Water Technologies, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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