What is Steam Traps Market Scope?
A Steam Trap is a device which is used to release or discharge condensates and non-condensable gases with an unimportant loss of live steam. Most of these steam traps are nothing but more than automatic or drain valves which allows distinguishing between condensate and steam. This steam traps holdbacks steam in a container and discharge condensate under high pressure, the main aim of these steam trap is to release condensate whenever it is formed, to utilize it unless it is enchanting. A steam trap is used in industry because of it’s regularly used for heating in industries and a driving force for mechanical power. They are majorly used in such applications which ensures that steam is not wasted. The rising reduction of fossil fuel resources especially coal is driving the demand for geothermal power generation across the globe is driving the market for the steam trap in the forecasted year.
The Steam Traps market study is being classified by Type (Mechanical Trap, Thermostatic Trap and Thermodynamic Trap), by Application (Tracing Application, Drip Application and Process Application) and major geographies with country level break-up.
Analysts at AMA predicts that Manufacturers from Global will contribute to the maximum growth of Global Steam Traps market throughout the predicted period.
CIRCOR International, Inc. (United States), Emerson Electric Co. (United States), Flowserve Corporation (United States), Pentair plc (United States), Schlumberger N.V. (United States), Spirax-Sarco Engineering plc (England), Thermax Limited (India), The Weir Group PLC (United Kingdom), Velan Inc. (Canada) and Watts Water Technologies, Inc. (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Pentair (United States), Velan (Canada), TLV (Japan), Cameron (United States) and Yoshitake (Japan).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Steam Traps market by Type, Application and Region.
On the basis of geography, the market of Steam Traps has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Market Trend
- Adoption of Iot Sensor Technology for Steam Traps
Market Drivers
- End-User Industries are Actively Adopting Steam Traps to Ramp up Fuel Savings
- Strict Regulations Imposed by Regulatory Bodies to Enhance Manufacturing Efficiency and Reduced Cost
- Emerging Heat Recovery Steam Generator Technology for Power Generation
Opportunities
- Growth in Government Budgets in the emerging and emerged Countries
- Increasing of Oil and Petrochemical Fields Expenditures in both developed and developing nations
- Rising Investments in Power Infrastructure in Emerging Economies
Restraints
- Periodic Maintenance and Operational Costs Associated With the Operations of Steam Traps
Challenges
- Limited Maintenance Programs for Steam Trap Across End-User Industries
Key Target Audience
Associations, organizations, forums, and alliances, Steam trap manufacturers, End users of process industries, Automation consultants, Research organizations, Technology investors, Energy industries association, Distributors and traders and Technology solutions providers
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