The Global Steam Trap market is poised to grow at a CAGR of around 5.8% over the next decade to reach approximately $4.91 billion by 2025
This industry report analyzes the market estimates and forecasts of all the given segments on global as well as regional levels presented in the research scope. The study provides historical market data for 2014, 2015 revenue estimations are presented for 2016 and forecasts from 2017 till 2025. The study focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies for the existing players, new entrants and the future investors.
Some of the prominent trends that the market is witnessing are rise in demand for geothermal power generation, growing reduction of fossil fuel resources, recent technological developments for steam trap market and growth opportunities/investment opportunities.
Based on body material, the market is segmented into iron, steel and other body materials. By product, the steam trap market is segregated into thermostatic, mechanical and thermodynamic.
Depending on end user, the market is categorized into pharmaceuticals, oil & gas, food & beverages, energy & power, and chemicals. On the basis of application, the market is divided into process, tracing and drip.