Lucintel's latest study found that, the future of the global steam trap market looks promising with opportunities in the chemicals, energy & power, food & beverages, oil & gas, and pharmaceuticals markets. The global steam trap market is expected to reach an estimated $5 billion by 2030 with a CAGR of 3.9% from 2024 to 2030. The major drivers for this market are growing need for steam systems that are energy-efficient and increasing integration of automation in steam systems, and an increase in the number of stringent rules enforced by regulatory agencies in an effort to boost production efficiency and save costs, as well as a spike in the demand for strong yet lightweight steam traps.
In this market, mechanical, thermodynamics and thermostatic are the major
segments of steam trap market by products.
Lucintel forecasts that mechanical is expected to witness the highest
growth over the forecast period due to its resilience, simplicity, and
dependability, which have increased their appeal in a range of industrial
applications.
Browse in depth TOC of the Steam Trap Market
100 - Figures
150-Pages
Steam Trap Market is marked by presence of several big and small players.
Spirax-Sarco Engineering, Emerson Electric, Schlumberger, Thermax, Velan, Watts
Water Technologies, Armstrong, TLV, Forbes Marshall, and Xylem are the major
suppliers in the steam trap market.
This unique research report will enable you
to make confident business decisions in this globally competitive marketplace. For
a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on
this link helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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