Global Steam Traps market Business Prospects, Development Status, Upcoming Opportunities and Growth Forecast 2025
WiseGuyReports has added new market study to its database, titled “Global Steam Traps Market Research Report 2019”.
A stream trap is used to release condensate and non-condensable gasses with unimportant loss of live steam. In other words, it is a drain valve, which distinguishes between steam and condensate. The steam trap holds back steam and discharges condensates under varying pressure or loads. The working of a steam trap is much the same as redid valve that opens, closes, or modifies automatically. The three central segments of steam trap structure are to release condensate when it is formed; unless it is enchanting to utilize it, have the farthest point of releasing air and other non-condensable gasses and particularly have an insignificant steam consumption-being energy efficient.
Owing to the significant environmental regulations imposed by various regulatory bodies such as the US EPA, there is growing emphasis on the use of clean and renewable energy sources such as geothermal energy, especially in developed regions like the Americas and Europe. The rising depletion of fossil fuel resources especially coal is driving the demand for geothermal power generation across the globe. Some of the key countries engaged in geothermal power generation include the US, Indonesia, and Mexico. The emergence of geothermal technology for clean energy will increase the use of steam traps as they enable energy savings in an efficient manner.
Global Market Outline: Steam Traps Market
Equipment commonly refers to tools, machinery, and other objects that are generally used to accomplish a particular task. Equipment is mainly used in the construction and manufacturing industrial sectors.
The industry is one of the primary drivers of many global economies, and introduces many breakthroughs globally, by combining significant technologies of electronics, materials, robotics, and software, in order to ensure the product and service efficiency offered by the equipment industry. There is a constant demand from these industries, which maintains the high revenue generation of the equipment industry.
In this study, the years considered to estimate the market size of Steam Traps are as follows:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2019
Forecast Year 2019 to 2025
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The key players covered in this study
Aman Engineering Works
Mahavas Precision Controls
Market segment by Type, the product can be split into
Market segment by Application, split into
Market segment by Regions/Countries, this report covers
Central & South America
Market size by Region
Central & South America
Rest of Central & South America
Middle East & Africa
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This report includes the estimation of market size for value (million US$) and volume (K MT). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Steam Traps market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
The study objectives of this report are:
To study and analyze the global Steam Traps market size (value & volume) by company, key regions/countries, products and application, history data from 2013 to 2017, and forecast to 2025.
To understand the structure of Steam Traps market by identifying its various sub-segments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Steam Traps manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Steam Traps with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Steam Traps submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Economic Growth and Investments
Healthy macroeconomic growth with growing income per capita owing to the expanding working class globally, favorable demographics with the growing number of the skilled labor force are supporting the industry. The growth in public infrastructure and urbanization projects are serving as an opportunity for smaller sized construction machinery, and subsequently increased the demand for construction equipment globally. Investments towards infrastructural development, construction sector, and rise in the mining industry consequently contribute to the growth of the equipment industry.
Additionally, technological advancements in the industry in order to improve the quality and efficiency of equipment is fueling the investment towards research and development activities.
The governments of multiple countries are contributing to the growth of the equipment industry by increasing their expenditure on the infrastructural development of residential areas, highways, bridges to improve regional connectivity, in the nations, especially in developing countries.
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