The steam trap market is estimated at USD 3.34 Billion in 2017 and is projected to grow at a CAGR of 4.2% to reach USD 4.11 Billion by 2022. This can be attributed to the growing sustainability concerns, stringent regulatory framework to reduce carbon footprint, and active adoption of steam traps by end-user industries to ramp up fuel savings.
Mechanical steam traps held the largest size of the steam trap market in 2017. Mechanical steam traps sense the difference in density between the condensate and the steam. These steam traps are well-suited for a wide range of process applications due to their capability of continuously discharging large volumes of condensate. Owing to the distinct features such as excellent air venting capabilities, minimal condensate backup, and continuous condensate discharge and robust designof mechanical steam traps, this segment is expected to dominate the market during 2017-2022.
By application, the global steam trap market is dominated by tracing application. Tracing application is used for both typical (where condensate backup is preferable) and critical services (where condensate backup is not acceptable) in steam lines. This, this segment is expected to dominate the market.
The availability of steam traps in different body materials and piping configurations offers flexibility in the selection of the right trap to meet the specific needs of end-use applications. The market for steel body material is likely to grow at a high rate between 2017 and 2022, as steel is durable, as well as offers wide operating pressure ranges and numerous orifice sizes.