Steam Trap Market Size - By Type (Mechanical, Thermodynamic, Thermostatic), By Function, By Application (Process Industry, Power Generation, HVAC & District Heating, Pharmaceuticals & Healthcare, Others), By End Use & Forecast, 2023 – 2032

Steam Trap Market Size

Steam Trap Market size was worth USD 3.7 billion in 2022 and is predicted to expand at over 4% CAGR from 2023 to 2032. The growing emphasis on energy-efficiency and eco-friendly practices will drive the product demand as they minimize energy usage and steam losses in steam systems.
 

Advancements in power generation, oil & gas, chemical processing, food & beverage, and pharmaceutical industries will drive the industry growth in the future. The escalating requirement for maintenance & repair in existing steam trap systems will fuel the demand for replacements and connected services. These factors are anticipated to stimulate business development during the forecast period.
 

Retrofitting and project upgrades in existing manufacturing facilities, where the old steam trap systems have become obsolete, will spark the demand for advanced steam trap solutions. The process of upgrading to a better functioning steam trap will save energy and improve the performance & functioning of the system, in turn, driving the steam trap market demand.

Malfunctioning and decreased efficacy due to the faulty setup and improper maintenance practices can pose challenges to steam trap industry expansion. The initial installation cost of steam traps is very steep, posing a hindrance to smaller firms in adopting them. The lack of trained professionals without the required technical expertise can result in installation challenges, leading to the improper use of steam traps and potential losses. The diverse range of steam systems presents difficulties while providing personalized solutions and guaranteeing ideal performance. The high cost & problems associated with installation will reduce their adoption rate, impeding market growth by 2032.
 

COVID-19 Impact

Pandemic-induced restrictions on the movement of people & goods and facility & border closures affected the steam trap market outlook, leading to manufacturing & distribution delays and shortage of the product in the sector. Numerous industries including production, oil & gas, and chemicals suffered a deceleration and brief cessation of activities owing to the quarantine protocols and diminished product necessity. Due to the decline in business activities and postponement of steam trap installations, the product demand also weakened.
 

Most manufacturing facilities concentrated on critical operations and economizing strategies, and suspended or moderated their repair activities, such steam trap audit and replacements, decreasing the requirement for fresh steam trap installations and aftermarket services. However, the decline in the number of COVID-19 cases and consequent enactments by government & non-government organizations are anticipated to drive the steam trap business growth in the future.
 

Steam Trap Market Trends

Steam traps play a pivotal role in enhancing the usage of energy by efficiently eliminating the condensate from steam systems. There is a high requirement for steam traps that provide high energy efficiency and minimize operating costs. As sustainability has become critical, there is a high focus on product manufacturing by employing sustainable practices from environmental-friendly raw materials. The high economic growth and rapid industrialization in Asia Pacific and Latin America are fueling the product requirement as emerging industries are investing in steam systems for their production purposes. The factors mentioned above are expected to accelerate the steam trap market statistics by end of 2032.
 

Steam Trap Market Analysis

The mechanical segment held a major industry value of USD 1.2 billion in 2022. Mechanical steam traps are sturdy and have a prolonged lifespan, making them appropriate for challenging industrial applications. The factors including cost-efficiency, conformance with applications, regulations, and user-friendly installation will impact the demand for different steam traps, including mechanical steam traps. These factors will foster the market progression during 2023-2032.
 

The steam distribution sector dominated about 60% of the steam trap market share in 2022. Steam distribution traps are widely utilized across several industries and applications that need proper steam distribution & control. Condensate recovery steam traps are generally utilized in methods where substantial quantities of condensate are created such as in steam heating systems, industrial processes, and power plants. The use of each type depends on system design, energy-efficiency goals, condensate load, and specific application needs. thereby influencing market evolution by 2032.
 

The process industry segment held a major business share in 2022 and is predicted to register 6.4% growth through 2032 due to its efficiency to remove condensate & non-condensable gases from steam distribution lines, guaranteeing that only dry steam goes to intended processes or machines. Environmentally aware industries focus on the efficient delivery of dry steam to expand system performance and decrease energy losses. In such scenarios, steam traps are crucial in eliminating condensate and impurities from steam, making sure that steam used in various processes adheres to the necessary pureness & quality standards and will register growth by 2032.
 

The manufacturing, petrochemical, and food processing industries are trying to improve energy efficiency in their steam systems. Steam traps are critical in eliminating condensate and warranting effective heat transfer, conserving energy & saving operating costs. Commercial buildings, hospitals, educational institutions, and hotels also depend on steam-based heating systems. Efficient steam traps guarantee reliable heat distribution, optimize energy usage, and maintain occupant comfort. These advantages will foster steam trap market statistics during the stipulated period.
 

The U.S. dominated North America region with a major revenue of USD 1.4 billion in 2022 and is predicted to grow at a rapid rate between 2023 and 2032. North America prioritizes energy efficiency and sustainability. The enactment of various government rules & regulations to save energy and minimize greenhouse gas emissions will fuel the demand for power-efficient devices such as steam traps.
 

The thriving industrial environment in North America including the manufacturing, oil & gas, chemical processing, food & beverage sectors will support steam trap demand. Another factor that is propelling the product adoption is the upgrading and retrofitting of old buildings in the region for conserving energy. These aspects will positively boost the steam trap market progression in North America by 2032.
 

Steam Trap Market Share

• Thermax Limited
• Watson McDaniel Company
• Gestra AG
• TLV Corporation
• Armstrong International
• Spirax Sarco

are some of the major market players operating in the steam trap industry. The leaders resort to new product launches, strategic partnerships, and other commercialization efforts towards industry expansion. They are also investing in research & development activities to introduce advanced products and gain the maximum business revenue.
 

This steam trap market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue and volume (USD Million & Units) from 2018 to 2032, for the following segments:

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Market, By Type

• Mechanical
• Thermodynamic
• Thermostatic

Market, By Function

• Steam Distribution
• Condensate Recovery

Market, By Application

• Process Industry
• Power Generation
• HVAC & District Heating
• Pharmaceuticals & Healthcare
• Others

Market, By End Use

• Oil & Gas
• Chemical & Petrochemical
• Food & Beverage
• Power Generation
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Philippines
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE