LONDON--(BUSINESS WIRE)--Technavio has been monitoring the steam traps market and it is poised to grow by USD 220.08 million during 2020-2024, progressing at a CAGR of over 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- Based on segmentation by end-user, which is the leading segment in the market?
- The petroleum segment is expected to be the leading segment in the global market during the forecast period.
- What are the major trends in the market?
- Development of IoT sensor technology for steam traps is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of over 3%, the incremental growth of the market is anticipated to be USD 220.08 million.
- Who are the top players in the market?
- Armstrong International Inc., CIRCOR International Inc., Emerson Electric Co., Flowserve Corp., Pentair Plc, Schlumberger Ltd., Spirax-Sarco Engineering Plc, The Weir Group Plc, Thermax Ltd., and TLV Co. Ltd. are some of the major market participants.
- What are the key market drivers and challenges?
- Real-time automated steam trap monitoring is one of the major factors driving the market. However, the faulty steam traps result in energy loss restraints the market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Armstrong International Inc., CIRCOR International Inc., Emerson Electric Co., Flowserve Corp., Pentair Plc, Schlumberger Ltd., Spirax-Sarco Engineering Plc, The Weir Group Plc, Thermax Ltd., and TLV Co. Ltd. are some of the major market participants. The real-time automated steam trap monitoring will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Steam Traps Market 2020-2024: Segmentation
Steam Traps Market is segmented as below:
- End-user
- Petroleum
- Thermal Power
- Others
- Geography
- APAC
- Europe
- North America
- MEA
- South America
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Steam Traps Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The steam traps market report covers the following areas:
- Steam Traps Market Size
- Steam Traps Market Trends
- Steam Traps Market Analysis
This study identifies the development of IoT sensor technology for steam traps as one of the prime reasons driving the steam traps market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Steam Traps Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist steam traps market growth during the next five years
- Estimation of the steam traps market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the steam traps market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of steam traps market vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End user
- Petroleum - Market size and forecast 2019-2024
- Thermal power - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End user
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Armstrong International Inc.
- CIRCOR International Inc.
- Emerson Electric Co.
- Flowserve Corp.
- Pentair Plc
- Schlumberger Ltd.
- Spirax-Sarco Engineering Plc
- The Weir Group Plc
- Thermax Ltd.
- TLV Co. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Steam Traps Market Analysis Highlights the Impact of COVID-19 (2020-2024) | Real-time Automated Steam Trap Monitoring to Boost the Market Growth | Technavio - Business Wire
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