Steam Trap Market Summary

The global steam trap market was estimated at USD 3.66 billion in 2023 and is projected to reach USD 5.08 billion by 2030, growing at a CAGR of 4.1% from 2024 to 2030. The steady market growth is primarily attributed to the increasing global emphasis on energy efficiency and sustainability. Steam traps play a critical role in industrial systems by optimizing energy utilization, preventing steam leakage, and ensuring effective condensate removal. Their ability to enhance energy conservation and system performance makes them an essential component across multiple industries striving to reduce energy wastage and operational costs. The growing focus on energy-efficient infrastructure and the implementation of green manufacturing practices are expected to further support market expansion over the coming years.

The rising demand for steam traps is also driven by the growth of key industrial sectors such as oil and gas, chemicals, food and beverages, and pharmaceuticals. In these industries, steam traps are integral to ensuring optimal heat transfer, maintaining pressure control, and improving process efficiency. As global industrialization accelerates, the requirement for reliable and high-performance steam management systems continues to expand. The ongoing modernization of manufacturing facilities and the replacement of outdated steam systems with advanced, automated versions are also contributing to the growing adoption of efficient steam traps globally.

Technological advancements in steam trap design and functionality are significantly shaping the market landscape. The introduction of smart steam traps equipped with sensors and monitoring systems for predictive maintenance is revolutionizing traditional operations. These advanced devices can detect leaks, blockages, and inefficiencies in real time, enabling timely maintenance and reducing downtime. The integration of Internet of Things (IoT) and digital monitoring tools is enhancing system reliability and allowing industries to optimize performance, minimize energy loss, and extend the lifespan of equipment. Furthermore, these innovations support the shift toward intelligent and automated industrial systems.

Key Market Trends & Insights

• North America dominated the steam trap market in 2023, accounting for a revenue share of over 36%. This dominance is attributed to the region’s advanced industrial infrastructure, high energy consumption across sectors, and early adoption of smart monitoring technologies. The strong presence of leading manufacturers and growing emphasis on energy conservation initiatives are also driving market growth in this region.
• Asia Pacific accounted for a revenue share of over 27% in 2023 and is projected to witness strong growth over the forecast period. The expansion of industrial sectors in countries such as China, India, and Japan, combined with government initiatives to promote energy-efficient manufacturing practices, is expected to propel regional demand. Rapid urbanization, rising energy costs, and an increasing focus on sustainable industrial operations are also major contributors to market expansion in the region.
• Based on end use, the oil and gas sector accounted for the largest revenue share of around 28% in 2023. Steam traps play a crucial role in refining and petrochemical processes where precise temperature and pressure management are vital. Their use ensures efficient steam distribution, prevents energy loss, and enhances process safety in high-temperature operations.
• In terms of product, the mechanical segment dominated the market with a revenue share of 46% in 2023. This segment’s growth can be attributed to the durability, simplicity, and cost-effectiveness of mechanical steam traps. They are widely used across industries due to their reliability, ease of maintenance, and ability to function efficiently under varying pressure and load conditions.

Order a free sample PDF of the Steam Trap Market Intelligence Study, published by Grand View Research.

Market Size & Forecast

• 2023 Market Size: USD 3.66 Billion
• 2030 Projected Market Size: USD 5.08 Billion
• CAGR (2024-2030): 4.1%
• North America: Largest market in 2023
• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights

Some of the key players operating in the market Flowserve Corporation and Emerson Electric Co.:

• Flowserve Corporation, founded in 1997 and headquartered in Irving, Texas, USA, is a manufacturers of fluid motion and control products and services. The company specializes in designing, manufacturing, and servicing of pumps, valves, seals, and related equipment for various industrial applications.
• Emerson Electric Co. is a Missouri based company that was established in 1890. It is involved in engineering and automation technology services. Company serves many industries such as oil and gas, power generation, water and wastewater management, and manufacturing. Its extensive portfolio includes a broad spectrum of automation products.

Velan Inc. and Spirax-Sarco Engineering are some of the emerging participants in the market. 

• Velan Inc. is involved in manufacturing of gate, globe, check valves, cryogenic valves, HF acid valves, steam traps, and bellows seal valves. With its products it serves various industries including nuclear power, power, oil & gas, refining, chemical, pulp & paper, marine, mining, LNG & cryogenics, and water & wastewater. Furthermore, company operates manufacturing plants in Asia, Europe, and North America.
• Spirax-Sarco Engineering is involved in manufacturing and supplying of boiler controls and systems, condensate and heat recovery systems, control systems, flowmetering, heat transfer solutions, humidification, steam traps, compressed air, pipeline ancillaries, and isolation valves. It serves around 62 countries and various industries such as brewing and distilling, food and beverage, hospitals, OEM, oil and gas, pharmaceutical, pulp and paper, and sugar refining with its products.

Key Players

• Circor International Inc.
• Emerson Electric Co.
• Flowserve Corporation
• Pentair Inc.
• Schlumberger Limited
• Spirax-Sarco Engineering
• Thermax Ltd.
• Velan Inc.
• Watts Water Technologies Inc.
• Armstrong International

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion

The global steam trap market is poised for steady growth, driven by increasing industrial demand for energy-efficient systems and the growing integration of smart monitoring technologies. With industries focusing on reducing energy losses, minimizing operational costs, and adhering to sustainability goals, the adoption of advanced steam traps is expected to rise significantly. Ongoing innovations in design and automation, along with supportive government initiatives promoting energy conservation, will further accelerate market expansion. The oil and gas, chemical, and manufacturing sectors will remain key contributors, positioning steam traps as essential components in achieving long-term operational efficiency and environmental sustainability across global industries.