Steam Trap Market, By Type (Thermostatic Steam Traps, Mechanical Steam Traps, Thermodynamic Steam Traps, and Others), By Application (Steam Heating Systems, Steam Dryers, Steam Jacketed Equipment, Steam Tracing, and Others), By End User (Manufacturing, Power Generation, Oil and Gas, Food and Beverage, Pharmaceuticals, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Aug 2024

Code : CMI7321

Pages :140

Formats :

Excel and PDF

Industry : Industrial Automation and Machinery

Market Concentration and Competitive Landscape

Steam Trap Market Concentration By Players

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Rising demand for energy efficiency and cost savings in steam systems

With rising energy costs and focus on sustainability, process industries are under mounting pressure to optimize energy consumption and reduce operating expenses. As steam represents a major portion of energy expenses, companies are compelled to identify areas where wastage of steam can be minimized. Installation of steam traps has proved to be a cost-effective way of conserving energy and slashing fuel bills by preventing leakage of steam from pipelines and vessels. Advanced and smart steam traps with novel features like self-regulating technology are gaining popularity as they help lower steam losses substantially.

Industrial players recognize significant financial gains that can be realized through the implementation of energy efficiency measures. As energy management has risen to a strategic priority, organizations are aggressively pursuing initiatives to enhance steam system performance. Adopting new generation steam traps which automatically adjust outlet pressure and provide tight shut-off is proving instrumental in maximizing thermal efficiency. Their self-actuating mechanisms ensure live steam is contained properly while condensate is discharged faster. This leads to appreciable savings in fuel and coal requirements at utilities as well as manufacturing facilities.

With the global goal of reducing greenhouse gas emissions and curbing climate change, industries feel increased pressure to optimize natural resource usage. Energy audits and system overhauls have exposed steam leaks as a major area of unaccounted energy loss. Deploying smart steam traps during plant upgrades or for replacing obsolete valves has started delivering notable benefits. Their higher reliability and advanced functionality aids sustaining efficient system operation on an ongoing basis. Driven by growing attention on slashing operational expenses and fulfilling sustainability objectives, end-users are widely embracing the latest steam trap technologies.

For instance, In September 2022, TLV CO., LTD., a leader in steam technology and solutions, launched the FJ32 series of free-float steam traps. These traps are engineered for a variety of process applications, such as jacketed pans, heat exchangers, and vulcanizers. They incorporate the QuickTrap connection, a universal design that facilitates easy, secure, and efficient removal, repair, and reuse.

Key Players Insights