How Has the Closed Steam Condensate Recovery Device Market Evolved Historically and What is its Current Size?
The closed steam condensate recovery device market has seen considerable growth due to a variety of factors.
• The market size for closed steam condensate recovery devices has seen notable development in the past years. The market's rise will go from $96.77 billion in 2024 to $102.42 billion in 2025 with a 5.8% compound annual growth rate (CAGR).
The expansion over the past period can be credited to the climb in industrial automation, the increase in environmental consciousness, the surge in the need for water conservation technologies, the augmentation in the use of sustainable practices, and the growth in the acceptance of closed-loop systems.
What Is The Projected Growth Of The Closed Steam Condensate Recovery Device Market?
The closed steam condensate recovery device market is expected to maintain its strong growth trajectory in upcoming years.
• The market for closed steam condensate recovery devices is anticipated to experience robust expansion over the forthcoming years, with predictions showing growth to $126.94 billion by 2029, driven by a compound annual growth rate (CAGR) of 5.5%.
This growth over the forecasted period may be due to heightened attention on energy efficiency and economical solutions alongside growing awareness of environmental sustainability, escalating energy costs, and increasing governmental regulation. Key market trends during this period are expected to include technological enhancements, IoT integration, the use of smart sensors, machine learning, and closed-loop steam systems.
What Are The Core Factors Supporting Growth In The Closed Steam Condensate Recovery Device Market?
The upward trajectory of the closed steam condensate recovery device market is anticipated to be propelled by the growing food and beverage industry. This industry includes companies engaged in the production, processing, packaging, distribution, and sale of edibles and beverages to the public. The surge in the food and beverage industry can be ascribed to the growing global populace, the escalating demand for convenience food and drinks, the changing dietary choices, and the increasing middle-class earnings, especially in emerging economies. A closed steam condensate recovery machine is used by the food and beverage sector to augment energy efficiency, cut down water usage, and uphold the cleanliness of processes by avoiding contamination. For instance, a report by Statistics Sweden, a government organization in Sweden, stated that in September 2022, the sales revenue of the food and beverage industry in Sweden was an impressive $29.85 billion (SEK 334 billion), indicating a 2.9% growth. This surge is fueled by a 2.5% boost in sales volume and a 0.4% increment in the prices of food and beverages. Hence, the growing food and beverage sector is significantly contributing to the growth of the closed steam condensate recovery device market.
What Are The Principal Market Segments In The Global Closed Steam Condensate Recovery Device Industry?
The closed steam condensate recovery device market covered in this report is segmented –
1) By Type: Continue Operation, Intermittent Operation
2) By Distribution Channel: Online, Offline
3) By Application: Papermaking, Chemical Industry, Food, Pharmaceutical, Other Applications
Subsegments:
1) By Continuous Operation: Continuous Flow Condensate Recovery Systems, Constant Pressure Recovery Systems, Automated Continuous Operation Devices
2) By Intermittent Operation: Batch Processing Condensate Recovery Systems, On-Demand Condensate Recovery Devices, Intermittent Flow Recovery Systems
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Which Emerging Market Trends Are Altering The Closed Steam Condensate Recovery Device Industry?
Leading corporations in the closed-steam condensate recovery device market are emphasizing the development of state-of-the-art products, like steam trap monitoring solutions, to advance overall energy efficiency, curb water usage, and lessen their impact on the environment. Steam trap monitoring solutions are methodologies and systems uniquely created to scrutinize the functionality and status of steam traps within a steam system, particularly with reference to a closed-steam condensate recovery device. These technological advances ensure the optimal operation of steam traps, contributing to the prevention of energy wastage, the decrease in upkeep expenses, and an enhancement in the steam system's overall efficiency. For example, in October 2023, IMI Critical Engineering, a UK-based engineering firm, introduced their new solution called STM-10 Steam Trap Monitoring. This groundbreaking gadget offers real-time surveillance of steam traps, enabling the detection of flaws and inefficiencies that might result in energy wastage and a surge in operational costs. The STM-10 solution is uniquely fitted with wireless compact sensors to monitor critical process conditions, in combination with sophisticated software powered by IMI Critical Engineering's smart algorithms that promptly identify any blockages or leaks in the steam traps. This innovative strategy, together with proactive maintenance schedules, assists in lowering energy expenses and CO2 emissions and reducing the potential damage caused by wet steam erosion.
Who Are the Key Players In The Closed Steam Condensate Recovery Device Market?
Major companies operating in the closed steam condensate recovery device market are:
• Emerson Electric Co.
• Xylem Inc.
• KSB SE & Co. KGaA
• Wilo SE
• Spirax-Sarco Engineering plc
• Armstrong International Inc.
• Thermax Limited
• Forbes Marshall Pvt. Ltd.
• Kadant Inc.
• Cleaver-Brooks
• Inc.
• Chromalox Inc.
• ARI-Armaturen Albert Richter GmbH & Co. KG
• Sundyne
• LLC
• GESTRA AG
• TLV International Inc.
• Thermodyne Engineering Systems
• Albany Pump Co. Ltd.
• Pennant Engineering Pvt. Ltd.
• Mechanical Equipment & Pump Co.
• Valsteam ADCA Engineering SA
• Johnston Boiler Company
• Rheem Manufacturing Company
• Grundfos Pumps Corporation
What Are The Regional Insights Into The Closed Steam Condensate Recovery Device Market?
Asia-Pacific was the largest region in the closed steam condensate recovery device market in 2024. The regions covered in the closed steam condensate recovery device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
