[163 Pages Report] The steam trap market is estimated at USD 3.34 billion in 2017 and is projected to grow at a CAGR of 4.2% to reach USD 4.11 billion by 2022. A steam trap is a mechanical device that expels condensate and non-condensable gases (such as air and carbon dioxide) from steam lines, with negligible loss or consumption of steam. A steam trap is an automatic valve that prevents loss of steam by trapping-and hence the name steam trap.

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Globally, fuel prices have witnessed a steady increase, which has prompted companies to focus on cutting down manufacturing costs. These companies put their efforts to lower cost at every stage of the manufacturing process. As a result, steam generation and distribution have gained prominence in the manufacturing process. To curb the high costs associated with steam leakage and to limit the losses occurring due to steam systems failure, end-user industries are actively adopting steam traps to ramp up fuel savings.

Steam traps aid in an efficient steam system, which results in energy savings. The energy thus saved leads to significant reduction in the overall cost of manufacturing companies. Of the total energy consumed by end-user industries, approximately 50% is used to generate steam. This is a very high number for end-user industries—roughly USD 8–10 per 1000 pounds. Huge amounts of money are also involved in modifying existing steam systems, which defeats the purpose of lowering manufacturing costs. Hence, it is imperative that manufacturing companies regularly monitor the steam system for steam loss. This will allow companies to manufacture quality products cost-effectively and efficiently, as well as stay competitive and profitable. The increasing adoption of steam traps by end-user industries to ramp up fuel savings will likely lead to the growth of the steam trap market during the forecast period.

Mechanical steam traps held the largest size of the steam trap market in 2017. Mechanical steam traps sense the difference in density between the condensate and the steam. These steam traps are well-suited for a wide range of process applications due to their capability of continuously discharging large volumes of condensate. Owing to the distinct features—such as excellent air venting capabilities, minimal condensate backup, and continuous condensate discharge and robust design—of mechanical steam traps, this segment is expected to dominate the steam trap market during 2017–2022.

By application, the global steam trap market is dominated by tracing application. Tracing application is used for both typical (where condensate backup is preferable) and critical services (where condensate backup is not acceptable) in steam lines. This, this segment is expected to dominate the steam trap market.

The availability of steam traps in different body materials and piping configurations offers flexibility in the selection of the right trap to meet the specific needs of end-use applications. The market for steel body material is likely to grow at a high rate between 2017 and 2022, as steel is durable, as well as offers wide operating pressure ranges and numerous orifice sizes.

The oil & gas industry is likely to lead the steam trap market between 2017 and 2022 due to increasing investments and growing demand for energy management solutions. Rising demand for reduced logistics and commercial downtime, increasing environmental concerns (such as reduction in CO2 emissions), and curtailment of fossil fuel usage is prompting oil & gas companies to rethink their strategies. Steam traps allow oil & gas players to achieve optimum performance with regard to steam and condensate systems, and help reduce energy consumption during oil & gas production activities.

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Major players operating in the steam trap market include CIRCOR International, Inc. (US), Emerson Electric Co. (US), Flowserve Corporation (US), Pentair plc (US), Schlumberger N.V. (US), Spirax-Sarco Engineering plc (UK), Thermax Limited (India), The Weir Group PLC (U.K.), Velan Inc. (Canada), and Watts Water Technologies, Inc. (US). The key market players focus on new product launches and developments, contracts, agreements, acquisitions, collaborations, and joint ventures to enhance their product offerings and expand their businesses.

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