Steam trap valve, most commonly a type of automatic valve, filters non-condensable gases and condensed steam such as air. Steam trap valves are utilized in various industries such as power generation, food & beverages, oil & gas, etc. in order to ensure that steam is not wasted because it is used as a heating medium or a driving force for mechanical power.
Steam trap valve is available in various types of materials, including cast iron, carbon steel, alloy steel, stainless steel, etc. across the globe. Steam trap valve works in various technologies which include thermodynamic, mechanical, and thermostatic, etc.
Among the types available in the market, the thermodynamic steam trap valve is most commonly utilized for steam mains drainage owing to the various advantages associated with it, which include long life and robust structure.
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Which are Some Prominent Drivers Spearheading Steam Trap Valve Market Growth
The growth in the oil & gas exploration & production activities is expected to assist the demand for steam trap valves over the near future. In the recent past, the U.S. has witnessed significant growth in terms of oil & gas exploration activities owing to the rising demand for fuel. Further, the invention of new technologies regarding extraction of shale gas and subsea oil extraction is found to be the key factors assisting the demand for steam trap valves.
On the other hand, the imposition of strict governmental regulations for the production of valves is projected to be one of the key challenges for the growth of the global steam trap valve market.
Prominent manufacturers involved in the global steam trap valve are involved in the introduction of thermostatic bimetallic steam trap valves that offer lower cost of ownership and energy-saving benefits as compared to that of other types of steam trap valves available in the market across the globe. Further, some of the manufacturers are focusing on the introduction of products that allow rapid steam trap replacement and also reduces labor costs.
How is the Significant Growth in the Oil and Gas Industry Driving Steam Trap Valve Industry
The increasing automation across industries such as oil and gas along with the increasing number of offshore and onshore exploratory activities is one of the primary reasons behind the significant growth. Furthermore, the substantial rise in the demand for durable and light-weight steam traps is also one of the reasons behind the growth as they have longer shelf life.
The steam trap valves act as a physical barrier and are used for fluid catalytic cracking and de-cocking processes in the oil and gas refineries. Moreover, factors such as enhanced design flexibility and cost-effectiveness add to the overall demand and growth.
Region-wise Insights
Why is Asia Pacific Emerging as an Opportunistic Steam Trap Valve Market?
Globally, the steam trap valve market is expected to be dominated by the Asia-Pacific region owing to the significant demand from various end-use industries such as chemical, power generation, food & beverages, etc. Product manufacturers in the region are developing innovative steam traps to be put to use in bio industries. They help in manufacturing of pharmaceuticals and medical sterilizers and supplying clean steam.
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How is Europe Contributing to Growth of the Steam Trap Valve Market?
According to Future Market Insights, Europe is expected to provide immense growth opportunities for steam trap valves, with Germany expected to steer the bulk of all regional growth. Extensive applications in the oil and gas industry are keeping sales of steam trap valves afloat across Germany.
Countries such as Poland, Belgium, U.K and Czech Republic are all also generating high demand for steam trap valves, as these regions are witnessing an uptick in the power industry. Moreover, the electronic industry in these countries is also experiencing a major upsurge, which will generate favorable conditions for market growth.
Key Segments Profiled in the Steam Trap Valve Industry Survey
Steam Trap Valve Market by Material Type:
- Cast Iron Steam Trap Valve
- Carbon Steel Steam Trap Valve
- Alloy Steel Steam Trap Valve
- Stainless Steel Steam Trap Valve
Steam Trap Valve Market by Product Type:
- Thermodynamic Steam Trap Valve
- Mechanical Steam Trap Valve
- Ball Float Steam Trap Valve
- Inverted Bucket Steam Trap Valve
- Thermostatic Steam Trap Valve
- Balanced Pressure Steam Trap Valve
- Bimetallic Steam Trap Valve
Steam Trap Valve Market by End Use Industry:
- Steam Trap Valve for Oil & Gas
- Steam Trap Valve for Power Generation
- Steam Trap Valve for Food & Beverages
- Steam Trap Valve for Pharmaceutical
- Steam Trap Valve for Pulp & Paper
- Steam Trap Valve for Chemical Industry
- Steam Trap Valve for Other End Use Industries
Steam Trap Valve Market by Application:
- Drip-based Steam Trap Valve
- Process-based Steam Trap Valve
- Trip-based Steam Trap Valve
Steam Trap Valve Market by Region:
- North America Steam Trap Valve Market
- Latin America Steam Trap Valve Market
- Western Europe Steam Trap Valve Market
- Eastern Europe Steam Trap Valve Market
- Asia Pacific Steam Trap Valve Market
- Japan Steam Trap Valve Market
- Middle East and Africa Steam Trap Valve Market
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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