Global Steam Traps Market Analysis with the Potential Impact of COVID-19 on the Industry - ResearchAndMarkets.com

DUBLIN--()--The "Steam Traps - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis and the looming economic recession, the Steam Traps market worldwide will grow by a projected US$728 Million, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 2.7%.

The global analysis and forecast periods covered are 2020-2027 (current & future analysis) and 2012-2019 (historic review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.

Thermodynamic, one of the segments analyzed and sized in this study, is forecast to grow at over 2.7% and reach a market size of US$1.3 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Thermodynamic market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

As part of the new emerging geographic scenario, the United States is forecast to readjust to a 1.7% CAGR. Within Europe, Germany will add over US$16.4 Million to the region's size over the next 7 to 8 years. In addition, over US$18.8 Million worth of projected demand in the region will come from Rest of European markets.

In Japan, the Thermodynamic segment will reach a market size of US$56.7 Million by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Steam Traps market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 5.5% over the next couple of years and add approximately US$241.9 Million in terms of addressable market opportunity.

Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Steam Traps market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others:

  • Bestobell Steam Traps (A Division of Richards Industries)
  • Circor International, Inc.
  • Emersion Electric Co.
  • Flowserve Corporation
  • Pentair PLC
  • Schlumberger Limited
  • Spirax-Sarco Engineering PLC
  • The Weir Group PLC
  • Thermax Ltd.
  • Velan, Inc.
  • Watson McDaniel Company
  • Watts Water Technologies, Inc.

Key Topics Covered

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Global Competitor Market Shares
  • Steam Trap Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
  • Impact of COVID-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 56

For more information about this report visit https://www.researchandmarkets.com/r/8ba6gk

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900