Segmentation of steam trap market by end-user includes oil and petrochemical, power industry,
pharmaceutical, paper and pulp, food and beverage, general industry and other. By region,
segmentation of seam trap market includes North America, Asia Pacific, MEA, and Latin America.
Market is predicted driving growth during forecast period due to severe restrictions imposed by
government on global energy wastage and energy production by alternate sources such as
geothermal energy production is being given a fillip.
Growing consumption of Crude-oil end product has fueled market growth of Steam Trap Market
with fierce competition played out among regional players to ascertain global dominance. Drivers to
market growth include harnessing of geothermal energy emphasizing a ‘go green’ initiative using
clean and renewable energy sources by US regulatory bodies such as US EPA. US, Mexico and
Indonesia are nations reputed as producers of geothermal energy and steam traps are a source of
renewable energy thus keeping pace with growth in an effervescent steam trap market.
Steam is current industry need with its proactive use in oil refineries using trace heating systems
that need to maintain correct viscosity levels and in reboilers for massive power generation. Asia
Pacific has been credited as a growing steam trap market attributing its growth primarily to thermal
power generation and growing refinery production. High requirement of gasoline suiting various
industry needs coupled with a progressive rise in electricity consumption is also enhancing growth
of steam trap market during forecast period.
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Assuming significance of proactive steam trap stations in energy management and fulfilling a
mandatory requirement of undergoing operations for six years before any fault tolerance system is
put into use, a steam management program bears fruit. The steam trap market is largely
fragmented in nature with local players playing market favorites thanks to many product features,
functionalities and services on offer at a lower premium than global counterparts. Key industries
included are Spirax Sarco, Armstrong, TLV, Flowserve, Tyco (Pentair), Velan, Circor, Yungquia