North America Is Expected To Be The Second-Largest Clean Steam Separator Market – FMI

The global clean steam separator market, which is expected to grow at a CAGR of 3%, is anticipated to reach a market value of US$ 3,441.3 Million by the end of the forecast period and US$ 2,554 Million in 2022.

In the period from 2016 to 21, the industry showed a compounded expansion rate of 2.8%. The market’s expansion can be attributed to the world’s rising demand for energy, particularly in developing areas like the Asia Pacific.

Because they can reduce water content and improve the quality of raw materials for mineral processing, clean steam separators are increasingly in demand. Separators are becoming increasingly popular in the pharmaceutical industry for a variety of uses, including the production of sterile solutions, the sterilisation of goods, and the production of biopharmaceuticals.

In addition to the aforementioned industry, the product is also gaining popularity in a number of other sectors, including chemical processing, oil and gas, food and beverage, and paper and pulp. During the anticipated period, it is anticipated that the introduction of new products will increase the growth opportunities.

For instance, Spirax Sarco introduced a new line of steam in November 2020 that produces steam that is consistently safe for use in food. These elements are anticipated to help the market in the future.

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Prominent Factors Driving The Global Clean Steam Separator Market

The demand for an effective, clean steam separator has increased significantly as a result of the fast growth of the global food and beverage industry. Benefits like decreased waste and downtime, decreased risk, the elimination of contaminants, and consistent quality, among others, are probably going to have a big impact on the product’s demand in the food and beverage industry.

Another significant consumer of the product has been identified as the chemical processing industry. Benefits include improved heat transfer in steam boilers and higher efficiency. It also prevents corrosion, scale build-up, and fouling, which would otherwise harm the equipment.

As a result, it is anticipated that increasing demand for the product across a range of end-use industries will be a major factor in the market’s growth over the coming years.

Role Of Europe In Strengthening The Global Clean Steam Separator Market

During the forecast period, Europe is anticipated to hold the largest market share. The region is anticipated to account for 28% of global market revenue in 2022. The market is anticipated to grow the most during the forecast period thanks to developed nations like the U.K., Sweden, Russia, and others.

One of the key drivers of market expansion in the area is anticipated to be the Russian gas processing industry. Government initiatives to expand the nation’s gas processing industry could help the market in the future.

The Amur Gas Processing Plant, which will likely be the largest natural gas processing facility in the world, is being built by Gazprom in the Svobodnensky District of the Amur Region in Russia. During the forecast period, these factors are likely to increase demand for clean steam separators and expand the market.

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Why Is North America Expected To Dominate The Global Clean Steam Separator Market

North America is anticipated to be the second-largest market during the forecast period, per the analysis. North America is anticipated to hold 24% of the global market share in 2022.

The existence of established regional players can be attributed to the region’s dominance. Another element that may be advantageous to the industry is the food and beverage sector’s quick expansion.

For instance, Jubilant FoodWorks announced in March 2021 that it would bring the international chain of Popeyes chicken fast food restaurants to India. During the forecast period, these factors are likely to have a favourable effect on the market.

Competition Landscape In The Clean Steam Separator Market

In order to increase their market share for clean steam separators, players in the industry are using a variety of strategies, such as mergers and acquisitions, partnerships, collaborations, and product launches.

Recent developments:

A Power management company called Eaton announced in July 2022 that it had finished buying a 50% stake in Jiangsu Huineng Electric Co. Ltd.’s circuit business, which produces and sells low-voltage circuit breakers in China.

Spirax-Sarco Engineering announced in July 2022 that it is in negotiations to pay cash for the Vulcanic Group of Companies from French private equity firm Qualium. The largest provider of customised industrial electric heating products in Europe is Vulcanic.