STEAM TRAP MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

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)

In December 2023, Watts Water Technologies, Inc., a leading global manufacturer of plumbing, heating, and water quality products, announced that it has entered into a definitive agreement to acquire Josam Company, a prominent provider of drainage and plumbing products with over 100 years of experience. This acquisition will enhance Watts' product portfolio, allowing the company to offer expanded capabilities and solutions to its customers.
In September 2022, TLV CO., LTD., a specialist in steam technology and solutions, introduced the FJ32 series of free-float steam traps. These steam traps are designed for various process applications, including jacketed pans, heat exchangers, and vulcanizers. They feature the QuickTrap connection, a universal design that allows for convenient, secure, and efficient removal, repair, and reuse.
In January 2022, Spirax-Sarco Engineering plc, a global leader in the control and management of steam, acquired Cotopaxi Limited, a U.K.-based digital energy optimization specialist, for approximately US$ 18 million (£13.3 million) . This strategic move strengthens Spirax-Sarco's Steam Specialties business, which focuses on providing innovative, efficient, and sustainable steam solutions for industrial customers. Cotopaxi's digital expertise in steam system monitoring and data-driven insights will enhance Spirax-Sarco's ability to help customers reduce waste, increase efficiency, and improve the safety of their steam systems.