Steam Trap Market - Top Companies and Manufacturers

Companies Dominating the Steam Trap Market

Industry participants are extending the functionalities of automation control systems to facilitate their application in the industrial automation sector including aerospace and military, mining and metals, and transportation. Leading companies in the market for industrial automation and control systems include:

The Weir Group PLC
- Company Overview
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- Financial Performance
- Key Performance Indicators
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Circor International Inc.
Emerson Electric Co.
Flowserve Corporation
Pentair Inc.
Schlumberger Limited
Spirax-Sarco Engineering
Thermax Ltd.
Velan Inc.
Watts Water Technologies Inc.

Browse Key Market Insights with Data Illustration:

Steam Trap Market Size & Share, Growth Forecasts 2036

In the News

Spirax-Sarco Engineering has successfully acquired Cotopaxi Ltd., an energy consultancy company, as of January 2022. This strategic move is planned to fortify Spirax-Sarco's Steam Specialties division and broaden its offerings to industrial steam customers by leveraging Cotopaxi's experience with digital steam system solutions.
Watts Water Technologies, Inc. announced on December 11, 2023, that it has finalized an agreement to buy Josam Company. By incorporating Josam's cutting-edge and precisely crafted goods, Watts Water Technologies will be able to offer a wider choice of products and solutions to its customers.

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of industrial automation was over USD 3 billion.

The market size for steam trap is projected to cross USD 7 billion by the end of 2036 expanding at a CAGR of 6% during the forecast period i.e., between 2024-2036.

The major players in the market are The Weir Group, PLC Circor International Inc., Emerson Electric Co., Flowserve Corporation, Pentair Inc., Schlumberger Limited, Spirax-Sarco Engineering, Thermax Ltd., Velan Inc., Watts Water Technologies Inc., Miyawaki Incorporation, Yoshitake, Phucminh Corporation, Motoyama, TLV Corporation and others.

In terms of product, the mechanical steam trap segment is anticipated to account for the largest market share of 56% during 2024-2036.

The Asia Pacific steam trap sector is poised to hold the highest share of 38% by 2036.

Steam Trap Market - Top Companies and Manufacturers

Companies Dominating the Steam Trap Market

Browse Key Market Insights with Data Illustration:

In the News

Frequently Asked Questions (FAQ)

How big is the steam trap market?

What is the outlook for the steam trap market?

Who are the major players dominating the steam trap market?

Which product segment will capture the significant market share for steam trap by 2036?

Which region will provide more opportunities for the steam trap business in the near future?