Steam Trap Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2027 | TechSci Research
Global steam trap market is expected to grow at a steady CAGR during the forecast period. The global steam trap market is driven by rising demand for energy management solutions. Moreover, initiatives taken by the regulatory bodies in order to minimize carbon footprint is positively impacting the growth of market during the forecast period. Mounting the use of renewable sources of energy coupled with technological advancements is expected to bolster the growth of market over the next few years. The global steam trap market is segmented based on product, application, body material, industry, company, and region. Based on product, the market can be categorized into thermodynamic, mechanical & thermostatic. Out of which, the mechanical steam trap segment dominated the market until 2021 and is expected to maintain its dominance in the market during the forecast period on account of its high rate of heat transfer. By body material, the global steam trap market is expected to be d...