Valley Cottage, NY -- (SBWIRE) -- 01/18/2019 -- Steam trap valve, most commonly a type of automatic valve, filters non-condensable gases and condensed steam such as air. Steam trap valve are utilized in various industries such as power generation, food & beverages, oil & gas, etc. in order to ensure that steam is not wasted because it is used as a heating medium or a driving force for mechanical power.

Steam trap valve is available in various type of materials, including cast iron, carbon steel, alloy steel, stainless steel, etc. across the globe. Steam trap valve works in various technologies which include thermodynamic, mechanical and thermostatic, etc. Among the types available in the market, thermodynamic steam trap valve is most commonly utilized for steam mains drainage owing to the various advantages associated with it, which include long life and robust structure.

Global Steam Trap Valve Market: Segmentation

The global steam trap valve market can be segmented on the basis of material type, product type, end-use industry and application.

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Based on the material type, the global steam trap valve market can be segmented into:

Cast Iron
Carbon Steel
Alloy Steel
Stainless Steel

Based on the product type, the global steam trap valve market can be segmented into:

Thermodynamic Steam Trap Valve
Mechanical Steam Trap Valve
Ball Float
Inverted Bucket
Thermostatic Steam Trap Valve
Balanced Pressure
Bimetallic

Based on the end-use industry, the global steam trap valve market can be segmented into:

Oil & Gas
Power Generation
Food & Beverages
Pharmaceutical
Pulp & Paper
Chemical
Others

Based on the application, the global steam trap valve market can be segmented into:

Drip
Process
Trip

Global Steam Trap Valve Market: Dynamics

The growth in the oil & gas exploration & production activities is expected to assist the demand for steam trap valve over the near future. In the recent past, the U.S. has witnessed significant growth in terms of oil & gas exploration activities owing to rising demand for fuel. Further, invention of new technologies regarding extraction of shale gas and subsea oil extraction are found to be the key factors assisting the demand for steam trap valve.

On the other hand, imposition of strict governmental regulations for the production of valves is projected to be one of the key challenges for the growth of the global steam trap valve market.

Prominent manufacturers involved in the global steam trap valve are involved in the introduction of thermostatic bimetallic steam trap valves that offer lower cost of ownership and energy-saving benefits as compared to that of other types of steam trap valves available in the market across the globe. Further, some of the manufacturers are focusing on introduction of products that allow rapid steam trap replacement and also reduces labour costs.

Global Steam Trap Valve Market: Regional Outlook

Globally, the steam trap valve market is expected to be dominated by Asia-Pacific region owing to the significant demand from various end-use industries such as chemical, power generation, food & beverages, etc. Asia-Pacific in the global stream trap valve market is expected to be followed by Europe over the near future. Europe is expected to be followed by North America in the global steam trap valve market over the forecast years. North America is expected to hold moderate share in the global market, however demand for the steam trap valve is expected to grow at significant pace over the near future.

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Global Steam Trap Valve Market: Market Participants

Some of the key players involved in the global steam trap valve market include TLV, Flowserve Corporation, Spirax-Sarco Engineering plc, Armstrong International Inc., Velan Inc., Yoshitake Inc., MIYAWAKI, Forbes Marshall, Watson McDaniel, CIRCOR International Inc., Uniklinger Limited, Tunstall Corporation, Schlumberger Limited, Hongfeng Mechanical Equipment Manufactory, and others.