A stream trap is used to release condensate and non-condensable gasses with unimportant loss of live steam. In other words, it is a drain valve, which distinguishes between steam and condensate. The steam trap holds back steam and discharges condensates under varying pressure or loads. The working of a steam trap is much the same as redid valve that opens, closes, or modifies automatically. The three central segments of steam trap structure are to release condensate when it is formed; unless it is enchanting to utilize it, have the farthest point of releasing air and other non-condensable gasses and particularly have an insignificant steam consumption-being energy efficient.
Owing to the significant environmental regulations imposed by various regulatory bodies such as the US EPA, there is growing emphasis on the use of clean and renewable energy sources such as geothermal energy, especially in developed regions like the Americas and Europe. The rising depletion of fossil fuel resources especially coal is driving the demand for geothermal power generation across the globe. Some of the key countries engaged in geothermal power generation include the US, Indonesia, and Mexico. The emergence of geothermal technology for clean energy will increase the use of steam traps as they enable energy savings in an efficient manner.
APAC was the largest revenue-generating region in the steam traps market in 2017 and is expected to continue its dominance in the market by 2023. Much of the region\'s growth is due to the surging refinery activities and growing demand for thermal power. The high requirement for gasoline across various end-users sectors and growth of electricity consumption will boost the growth opportunities steam trap manufacturers in the coming years.
The Steam Traps Market report analyses the impact of COVID-19 on this industry. COVID-19 can affect the global market in 3 ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on enterprises and financial markets.
The report offers detailed coverage of Steam Traps industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Steam Traps by geography. The report splits the market size, by volume and value, on the basis of application type and geography.
The report forecast global Steam Traps market to grow to reach xxx Million USD in 2020 with a CAGR of xx% during the period 2021-2027.
First, this report covers the present status and the future prospects of the global Steam Traps market for 2015-2027.
Key Companies
Armstrong
CIRCOR
Flowserve
Spirax Sarco
Aman Engineering Works
GESTRA
Mahavas Precision Controls
Steam Traps Market by Type
Thermodynamic
Mechanical
Thermostatic
Steam Traps Market by Application
Drip Application
Process Application
Tracing Application
Steam Traps Market by Region
United States
Europe
China
Japan
Other Regions
Steam Traps Market Consumption by Region
North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
South Korea
Australia
Indonesia
Malaysia
Philippines
Thailand
Vietnam
Europe
Germany
France
UK
Italy
Russia
Rest of Europe
Central & South America
Brazil
Rest of South America
Middle East & Africa
GCC Countries
Turkey
Egypt
South Africa
Rest of Middle East & Africa
At the same time, we classify Steam Traps according to the type, application by geography. More importantly, the report includes major countries market based on the type and application.
The report conveys the entirety of current realities about market definition, orders, applications, and commitment for the Steam Traps market that are basic to be victorious inside the market. The principle motivation behind this report is to give a development map with respect to the activities taken by central participants of the Steam Traps market like item dispatches, joint endeavors, propensities, consolidations, and acquisitions which is influencing the Steam Traps market undertaking in general and furthermore influencing the business, import, fare, income and CAGR values.
Regional Analysis
North America, Latin America, Asia-Pacific countries, Europe, India, China, and over twenty countries have been analyzed based on the different marketing elements such as manufacturing capacity, consumer base, productivity, and profit margin, and ease of business. It is observed that North America, in particular, will show impressive development during the estimated time frame in marketing development. Administration organizations and outsider managers are channelizing their efforts to make client-driven items that will add to the development of an efficient marketing scenario in these regions. As the significant parts of the market business would be all around the globe, Middle East, Africa, North America along with other Asia-Pacific nations shows a great prospect of developing a good market favorable environment.
The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Steam Traps market for the forecast period 2021 - 2027?
• What are the driving forces in the Steam Traps market for the forecast period 2021 - 2027?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Steam Traps industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?
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