Global Steam Trap Market 2020-2025: Rising Trend of Automation in the Oil and Gas Industry are Projected to Drive the Market
DUBLIN, Nov. 16, 2020 /PRNewswire/ -- The "Steam Trap Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global steam trap market is currently witnessing stable growth
A steam trap is a mechanical valve that is used to discharge condensates and non-condensates, such as air and carbon dioxide, from steam lines. Mechanical, thermostatic and thermodynamic traps are the most common types of steam traps available in the market.
They are commonly used in bulk storage tanks, pressure reducing valve stations, steamers, heat exchangers and reboilers. They also act as a separation point between the condensates and the steam system to create latent heat and transfer it to a specific product. Owing to this, stream traps find extensive application across various industries, including oil and gas, power generation, chemicals, pharmaceuticals, pulp and paper, and food and beverages.
Growing industrialization is one of the key factors driving the growth of the market. Stream traps are highly durable, light in weight and have a long shelf life. Owing to this, they are widely adopted for sterilization and enhancing the efficiency of various industrial processes. Furthermore, the increasing oil and gas exploratory activities across the globe are also providing a boost to the market growth.
Additionally, various technological advancements, including the development of wireless monitoring systems, are acting as another growth-inducing factor. Advanced steam traps are equipped with thermocouple sensors to take temperature readings at periodic intervals and transmit the signals to an interface for the user to remotely access it.
Other factors, including the implementation of favorable government policies promoting the sustainable utilization of energy resources and extensive research and development (R&D) activities, along with the rising trend of automation in the oil and gas industry, are projected to drive the market further.
Looking forward, the market to register a CAGR of 3.5% during 2020-2025.
Key Questions Answered in this Report:
- How has the global steam trap market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the material type?
- What is the breakup of the market based on the distribution channel?
- What is the breakup of the market based on the end-use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global steam trap market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Steam Trap Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Forecast
6 Market Breakup by Product Type
6.1 Thermodynamic
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Mechanical
6.3 Thermostatic
7 Market Breakup by Application
7.1 Instrument Steam Tracing
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Line Steam Tracing
7.3 Drip Application
7.4 Process Application
7.5 Others
8 Market Breakup by Material Type
8.1 Steel
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Iron
8.3 Others
9 Market Breakup by Distribution Channel
9.1 Online
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Offline
10 Market Breakup by End-Use Industry
10.1 Oil & Gas
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Power Generation
10.3 Pharmaceuticals
10.4 Food & Beverages
10.5 Pulp & Paper
10.6 Chemical
10.7 Others
11 Market Breakup by Region
12 SWOT Analysis
12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats
13 Value Chain Analysis
14 Porters Five Forces Analysis
14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Indicators
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
- Circor International Inc.
- Emerson Electric Co.
- Flowserve Corporation
- Pentair Inc.
- Schlumberger Limited
- Spirax-Sarco Engineering
- Thermax Ltd.
- Velan Inc.
- Watts Water Technologies Inc.
- The Weir Group PLC
For more information about this report visit https://www.researchandmarkets.com/r/h7l6nd
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