The report forecasts the global steam traps market to grow at a CAGR of 4.8% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: One trend spurring growth in this market is the preference for real-time automated steam trap monitoring. For proper and efficient functioning of any steam trap, designers and manufacturers are constantly attempting to incorporate technological advances that will help in rectifying any problem with the normal operation of the trap and result in maximum efficiency. One of the technological advances in the steam trap system that will impact the market is the introduction of real-time monitoring of the steam trap, which will be automatic in nature.
According to the report, one driver fostering growth in this market is the introduction of mandatory steam trap tests that enable optimized performance. In opposition to what individuals believe, steam is still a standout amongst the most productive and helpful methods for giving high-quality heat energy; in any case, if the systems are not kept up legitimately they can become inefficient, wasteful, and perilous. Traps should be examined appropriately and frequently to obtain the greatest effectiveness from the system.
What will the market size be in 2020 and what will the growth rate be?
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What is driving this market?
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