What is Thermostatic Steam Trap?
A thermostatic steam trap is a type of automatic valve that operates on steam’s temperature difference from cooled condensate and air. The valve is controlled through the uneven expansion and contraction of a bimetallic element. Thermostatic steam traps are widely used as air vents in steam systems. The balanced pressure thermostatic trap uses a special bellows diaphragm, which is designed to open in response to pressure and temperature to discharge air and condensate and to close against the passage of steam.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Spirax-Sarco Engineering (United Kingdom), TLV International, Inc. (Japan), Steriflow Valve (United States), Tunstall Corporation (United States), Velan, Inc. (Canada), Circor International, Inc. (United States), Flowserve (United States), Watson McDaniel (United States), Armstrong International (United States) and Yoshitake Inc. (Japan) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Bi-metal Strip and Balanced Pressure) , by application (Oil & Petrochemical, Power Industry, Pharmaceutical, Food & Beverage, Pulp & Paper, General Industry and Other) and major geographies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Thermostatic Steam Trap market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Thermostatic Steam Trap market report suggests strategies that Manufacturers can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Manufacturers, some of them are Spirax-Sarco Engineering (United Kingdom), TLV International, Inc. (Japan), Steriflow Valve (United States), Tunstall Corporation (United States), Velan, Inc. (Canada), Circor International, Inc. (United States), Flowserve (United States), Watson McDaniel (United States), Armstrong International (United States) and Yoshitake Inc. (Japan).
Market Overview:
On 31st January 2022, Spirax-Sarco Engineering PLC announced the completion of its acquisition of energy consulting firm Cotopaxi Ltd. The Cheltenham, England-based manufacturer of steam systems paid a total consideration of GBP13.3 million, GBP12.8 million of which was cash and debt-free. It also stated that the transaction was paid for with cash. Cotopaxi will operate as part of the company's Steam Specialties division, which serves industrial steam customers.
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Influencing Trend:
Increasing Investment for Developments and Improvements in Steam Trap by Key Manufacturers
Market Growth Drivers:
Increased Demand of Thermostatic Steam Trap to Reduce Start-Up Times and Improve Overall Efficiency and Long-term Energy Conversation and Reduced Cost Will Increase the Demand of Thermostatic Steam Trap
Challenges:
Slow Response of Bi-metal Strip to Changing Condensate Loads
Restraints:
Sometimes Dirt Particles Prevent Tight Valve Closing
Opportunities:
Rapidly Growing Industrialization in Developing Economies like India and China
Key highlights of the Global Thermostatic Steam Trap market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Thermostatic Steam Trap market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Thermostatic Steam Trap market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Manufacturers
Comprehensive information about factors that will challenge the growth of Thermostatic Steam Trap Manufacturers
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Thermostatic Steam Trap market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Thermostatic Steam Trap market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Thermostatic Steam Trap Manufacturers, Suppliers and Distributors of Thermostatic Steam Trap, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.