Spirax Sarco and Pentair plc are Some of the Leading Players in the Steam Trap Market
A steam trap is a mechanical device that expels condensate and noncondensable gases (such as air and carbon dioxide) from steam lines, with negligible loss or consumption of steam. A steam trap is an automatic valve that prevents loss of steam by trapping—and hence the name steam trap. Steam traps sense certain differences between steam, condensate, and air. The primary objective of a steam trap is to immediately get rid of the condensate. This is critical for industrial applications.
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 in this market can be attributed to the growing sustainability concerns, stringent regulatory framework to reduce carbon footprint, and active adoption of steam traps by end-user industries to ramp up fuel savings.
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) are some of the leading players in the steam trap market. New product launches and developments, contracts, agreements, acquisitions, and partnerships are some of the key strategies adopted by major players to gain a competitive edge in the market.
Spirax Sarco is a leading manufacturer and supplier of steam traps for different industries. It is an important player in the steam trap market owing to its existing distribution and sales networks across the globe. The company’s product offering complies with the stringent regulatory frameworks. Steam traps offered under the company’s product portfolio allow end-users to maintain product quality; increase operational efficiency; comply with health, safety, and environmental legislation; and reduce energy and water usage. The company intends to outperform the steam trap market by focusing on its self-generated growth opportunities by reinforcing its direct sales business model. For instance, in October 2015 the company started its direct sales operations in Egypt. It has been supplying a complete range of industry-leading products, as well as offering services, training, and solutions for more than 20 years. Due to its direct sales operations, the company is in a better position to cater to the demands of clients.
Pentair plc is a pioneer in the invention and manufacture of innovative and integrated solutions to meet the global challenges related to water, energy, and food. The company delivers water system products and solutions, as well as flow and fluid management solutions, for a wide variety of industrial applications—such as agriculture, food & beverage processing, water supply and disposal, and temperature-sensitive fluids, along with civil, mechanical, and electrical applications. For instance, in May 2016, Pentair plc collaborated with The WateReuse Association and Water Environment & Reuse Foundation to create sustainable water solutions to develop sustainable agricultural practices. These practices will utilize innovative water reuse technologies for farming.
Flowserve Corporation is a manufacturing and integrated solutions company. It manufactures and offers aftermarket services for an extensive range of flow control systems. It is a well-known market player that deals with flow control equipment for critical industrial processes. For instance, in July 2015, Flowserve Corporation launched the Flowserve Gestra BK37-5 thermostatic bimetallic steam trap. The product offers end-user industries with considerable energy-savings and lowers the TCO (total cost of ownership) compared with inverted bucket and thermodynamic steam traps. The BK37-5 thermostatic bimetallic steam trap is designed for pressures ranging from 0.7 to 45 bar. This steam trap is suitable for both saturated and superheated steam.
The Weir Group PLC offers steam traps to industries such as oil & gas, energy and power, and metals and mining to achieve sustainable growth, as well as improve fuel savings. The company’s extensive range of steam traps facilitate the needs of end-user industries. The Weir Group PLC has a worldwide network of nearly 200 manufacturing and service facilities in more than 70 countries, resulting in a strategically balanced geographic revenue mix. The company has been strengthening its market presence by collaborating with leading market players.
CIRCOR International, Inc. develops, manufactures, and markets, as well as offers services for subsystems, valves, and highly engineered products used across industries. The company’s product portfolio comprises fluid-control products, subsystems and technologies. The company offers products that cater to the aerospace & defense, oil & gas, power generation, and industrial markets.
Related Reports:
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
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