Steam Trap Market Opportunity, Growth, Trends, Analysis to 2022

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MarketsandMarkets Presents

Steam Trap Market Opportunity, Growth, Trends,
Analysis to 2022 Steam Trap Market by Product
(Thermodynamic, Mechanical, Thermostatic),
Application (Drip Application, Process
Application, Tracing Application), Body Material
(Steel, Iron), End-user Industry, and Geography -
Global Forecast to 2022 https//www.marketsandmar
kets.com/Market-Reports/steam-trap-market-17673517
7.html
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The steam trap market is projected to be valued
at USD 4.11 Billion by 2022, at a CAGR of 4.2
between 2017 and 2022. The growth can be
attributed to the strict regulatory framework
imposed by regulatory bodies to reduce the carbon
footprint, and end-user industries actively
adopting steam traps to ramp up fuel savings and
address the growing sustainability
concerns. Browse 68 market data tables and 75
figures spread through 163 pages and in-depth TOC
on "Steam Trap Market - Global Forecast to 2022"
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Steam trap market for tracing application to
grow at the highest rate between 2017 and
2022 Tracing application of steam trap refers to
the utilization of steam to indirectly raise the
temperature of a process or product. Tracing
application is used for both typical (where
condensate backup is preferable) and critical
services (where condensate backup is not
acceptable) in steam lines. Thus, this segment is
expected to grow at the highest rate between 2017
and 2022. Ask PDF Brochure https//www.marketsan
dmarkets.com/pdfdownloadNew.asp?id176735177
Steam trap market for mechanical steam traps
leads the steam trap market The market for
mechanical steam traps is likely to lead the
global steam trap market between 2017 and 2022.
Mechanical steam traps are preferred for process
applications due to their ability to discharge
condensate at steam temperature. This is useful
for applications such as heat exchangers, coils,
and constant load applications.
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Steel is the most preferred body material and is
likely to continue to dominate during the
forecast period Steel body allows steam traps to
withstand freeze-ups without damage to the steam
system. Steel aids in the smooth operations of
steam traps, as well as saves energy and reduces
manufacturing cost. Steel as a body material
offers cost effectiveness, design flexibility,
reliability of the overall steam system, enhanced
durability and environmental benefits such as
recyclability. This, steel is anticipated to
continue its dominance during the forecast
period. Request Free Sample Pages https//www.ma
rketsandmarkets.com/requestsampleNew.asp?id176735
177 The oil gas industry will likely hold the
largest share of the steam trap market between
2017 and 2022 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. Rising demand for reduced logistics
and commercial downtime, increasing environmental
concerns (such as reduction in CO2 emissions),
and curtailment of fossil fuel usage are forcing
oil gas companies to rethink their strategies.
Due to the aforementioned factors, the steam trap
market for oil gas is likely to grow at a
significant rate during the forecast period.
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North America to dominate the steam trap market
between 2017 and 2022 The mandate of regulatory
bodies for manufacturing companies to reduce
carbon footprint is primarily driving the demand
for steam traps in North America. The flourishing
oil gas industry, growing demand for enhanced
efficiency, and increasing carbon dioxide
emissions are propelling the growth of the steam
trap market in this region. 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 (England), Thermax Limited
(India), The Weir Group PLC (U.K.), Velan Inc.
(Canada), and Watts Water Technologies, Inc.
(US).
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