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Steam Trap Market worth $5.57 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Nov. 1, 2024 /PRNewswire/ — The global steam trap market is expected to be USD 5.57 billion by 2029 from USD 4.57 billion by 2024, at a CAGR of 4.1% during the forecast period according to a new report by MarketsandMarkets™. The steam trap market is driven by several key factors, including the rising demand for energy-efficient solutions, stimulated by a greater need to save energy and decrease operational costs. Increased use of automation within a steam system also helps in further increasing growth for this market as automated solutions enhance performance while reducing manual intervention. The pressure to increase manufacturing efficiency, while also maintaining environmentally stringent compliance, has started to force industries into investing in even more advanced steam trap technologies-fitting the platform of the sustainability model.

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Browse in-depth TOC on “Steam Trap Market” 

160 – Tables
90 – Figures
250 – Pages

Steam Trap Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 4.57 billion

Estimated Value by 2029

$ 5.57 billion

Growth Rate

Poised to grow at a CAGR of 4.1%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Mechanical, Drip Application, Process Application and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Lack of awareness about benefits of steam trap systems

Key Market Opportunities

Integration of steam traps with IoT sensors

Key Market Drivers

Growing demand for energy-efficient steam systems

Thermostatic segment is expected to exhibit highest CAGR in the steam trap market during the forecast period.

Thermostatic steam traps are ruggedly designed and have a significantly long service life. They have fewer wear and tear than other types of steam traps, therefore keeping lower maintenance costs and reduced operational downtime. This makes them attractive for industries that can’t afford to stop productions as these may include pharmaceuticals and food processing. Further, thermostatic steam traps are relatively easier to install than most other types. This makes them more readily available for adoption into an existing system of steam, and this ease of integration brings down the total cost of ownership. Accordingly, industries are more likely to adopt these traps at the time of system upgradation or installation.

Screwed segment is expected to hold major share in the steam trap market.

Screwed segments have the largest market share for steam traps due to several significant advantages. They can be used for a large range of pipe sizes and materials, thus applying to various applications in many different industries, which may make them highly used and even often selected by end-users. Moreover, screwed connections are generally cheaper than welded connections or any other type of connection. This lesser startup cost makes them appealing to several facilities, most especially in those industries that need to operate on tight budgets. Another big advantage is reliability, screwed connections work great under diversified pressure and temperatures, providing a secure seal and minimizing leaks, ensuring efficient operation in a steam system.

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North America is expected to hold the second largest share of the steam trap market.

The North American market shares the second largest share of the steam trap industry and is primarily driven by the following factors. First, it has numerous significant industries, oil and gas, chemical, food and beverages, and pharmaceuticals, which require steam trap systems in order to have an efficient management of condensate and pressure regulation. Next, North America has an already established infrastructure for power generation and manufacturing facilities that are highly automated and require reliable steam trap solutions in order to maintain and sustain the operations. Furthermore, the already stringent policies on the need to conserve energy and carbon emissions further drive the implementation of high-efficiency steam traps in efforts to reduce energy losses and increase systems regarding sustainability.

The key companies in the steam trap companies include Spirax Group plc (UK), Emerson Electric Co. (US), Thermax Limited (India), SLB (US), Velan Inc. (Canada), Watts (US), Armstrong International Inc. (US), TLV CO., LTD. (Japan), Forbes Marshall (India), Xylem (US).

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

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Process Automation and Instrumentation Market by Transmitter (Level, Pressure, Temperature), Analyzer (TOC, pH, Oxygen, Conductivity, Density, Toxic Gas, Turbidity, Hydrogen Sulfide), PLC, DCS, SCADA, HMI, MES, Industry – Global Forecast to 2029

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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New Bestseller “ChatGPT AI Book Writing Formula” Hits #1 in Amazon: 9 Steps to “prompt, write, publish” Your Nonfiction Book

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A new book, “ChatGPT AI Book Writing Formula,” shows nonfiction authors how to leverage AI technology to make book writing faster and easier. Launched this week on Amazon, it quickly reached #1 status in two categories. Author Caryl Westmore distills the writing and self-publishing process into a 9-step formula, assisted by ChatGPT AI, paying special attention to prompt engineering as the key to success.

NEWPORT, Isle of Wight, Engaland, Nov. 1, 2024 /PRNewswire/ — Bestselling author and book coach Caryl Westmore has launched a groundbreaking new book, “ChatGPT AI Book Writing Formula,” which has already achieved #1 status in two Amazon categories. The book shows authors how to streamline the writing process with AI technology while preserving their authentic voice.

“ChatGPT AI Book Writing Formula: 9 Steps for Coaches, Therapists, and Entrepreneurs to Write a Client-Attraction Book Faster and Easier with AI” teaches readers to “prompt, write, publish” a nonfiction book with AI tools like ChatGPT (and Claude) as coaches, collaborators, and brilliant assistants.

“I originally talked about ‘dancing’ with ChatGPT to overcome writer’s block in my book “Bust Writer’s Block Forever,” says Westmore. “But this book takes AI collaboration to a whole new level.”

“AI streamlines book writing,” says Westmore. “Writers must, however, humanize ‘AI-speak’ with personal anecdotes, case studies, and emotions.”

Prompt Engineering (the art of interacting with ChatGPT AI) can be challenging at first. Westmore includes a free bonus PDF, “Time-Saving Prompts for Authors,” and plans a follow-up course, “Author Accelerator: Master AI-Powered Prompts for Writing, Editing, and Publishing Your Book in 21 days.”

View Artificial Intelligence as either fearful or fascinating. This book reassures readers that it can be both fun and useful in assisting with the “hard-lifting” when it comes to self-publishing.

“ChatGPT AI Book Writing Formula” is currently available on Amazon at a special launch price of $0.99. https://www.amazon.com/dp/B0DL4L79PQ.

For More Information:

For more information or to schedule an interview about this press release, please get in touch with Caryl Westmore of Break Free Fast Publishing.
email: caryl@carylwestmore.com

About the Author:

Caryl Westmore is a leading voice in blending book coaching with energy psychology and AI strategies. She is the bestselling author of over ten books and hosts the “Write the Book Inside You” podcast for nonfiction writers. A former journalist, she pivoted twenty years ago into promoting transformational authors and coaching clients to break free from the past to claim the dreams and life they love—including writing the book inside them.

www.carylwestmore.com

Caryl Westmore
CEO
Break Free Fast Publishing
+44 7500 273331
caryl@carylwestmore.com

“This release was issued through WebWire®. For more information, visit http://www.webwire.com.”

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SOURCE Caryl Westmore

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WOLFBOX Draws Awareness on the Important Role of Dash Cams in Ensuring Driver Safety and Preventing Insurance Fraud

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DALLAS, Nov. 1, 2024 /PRNewswire/ — Auto insurance fraud is rapidly growing with fraudsters orchestrating staged accidents, exaggerated injury claims, and even deliberate collisions to take advantage of insurance payouts. Fraudulent claims not only cost insurers billions of dollars every year, but also result in increased premiums and severe financial consequences for innocent victims. Proving innocence in these cases is difficult, often requiring the assistance of an insurance fraud lawyer, and can lead to lengthy legal battles and payouts. Thus, WOLFBOX wants to make drivers aware of how to ensure their safety and protect themselves from insurance fraud.

What is insurance fraud? It refers to the illegal act of deceiving an insurance company for financial gain. Recently, a video of an alleged car insurance fraud in New York City that went viral on TikTok captured how these fraudsters come out of nowhere and stage an accident. Luckily for the victim in this video, her car’s dash cam recorded the entire incident. This video has raised awareness around the importance of owning a dash cam to prevent insurance scams.

With such incidents on the rise, dash cams have emerged as the most effective tools for preventing and combating car insurance fraud. With their ability to continuously record the road and driver interactions, these devices provide an unbiased, reliable account of what actually happens during an incident. Dash cams can be essential for drivers who need to know how to report insurance fraud or are seeking legal recourse.

From round-the-clock monitoring to providing objective evidence, a dash cam serves as a handy device for drivers to keep themselves and their vehicles safe. One of the primary advantages of a dash cam is its ability to record real-time video footage of the road and surroundings. In the event of an accident or dispute, this footage serves as irrefutable evidence, helping to determine fault and protect drivers from fraudulent claims. Dash cam footage is crucial when settling disputes in courts or with insurance companies, especially in car insurance fraud examples.

Apart from 24/7 surveillance, some of the recent dash cams also offer extremely high resolution video even in dark or poorly lit conditions. For instance, WOLFBOX’s 3-channel X5 dash cam is equipped with the latest best-in-class IMX 678 sensor that captures license plates and other critical details day or night with enhanced image quality and color reproduction. With its three-channel monitoring system, the dash cam covers the vehicle’s front, rear and interior with 4K and 2.5K clarity, significantly reducing blind spots and improving overall driving safety.

Dash cams continue to record even when the vehicle is parked.This is especially useful for capturing footage of hit-and-run incidents or vandalism cases. The X5 comes equipped with two parking modes, including time-lapse monitoring and collision detection. These modes ensure continuous surveillance, offering peace of mind whether the vehicle is parked or in motion.

Many advanced dash cams such as the X5 are equipped with GPS functionality that logs vehicle’s speed, location, and route. This data can also prove to be critical in disputes where the other party falsely claims speeding or reckless driving.

Dash cams also help promote responsible driving. With a dash cam installed, drivers tend to become more cautious and aware of their driving habits, knowing that their behavior is being recorded. This leads to a culture of safer and more responsible driving on the road.

As insurance fraud becomes more sophisticated, it’s crucial for drivers to take proactive measures to protect themselves and their vehicles. Investing in a dash cam is a simple yet highly effective way to do just that.

For more information on the WOLFBOX’s dash cams, visit www.wolfbox.com.

About WOLFBOX
As the leading brand in the automotive electronics market, WOLFBOX’s product sales cover more than 70 countries and regions around the world. WOLFBOX strives to deliver cutting-edge electronics with the latest trends and up-to-date technology to enhance the driving experience and cater to the evolving needs of modern drivers. Meanwhile, WOLFBOX continuously brings up-to-date technology and reliable products for individuals who share the same values of adventure, free spirit, and vitality, to empower them to fully experience the joy of the open road, while ensuring their safety and comfort.

Media Contact
Alex B.
alex@wolfbox.com

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SOURCE WOLFBOX

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Rise48 Equity Expands Services with Launch of Rise48 Residential, Taking Over Management of Four Dallas-Fort Worth Properties

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PHOENIX, Nov. 1, 2024 /PRNewswire/ — Rise48 Equity, a multifamily investment group headquartered in Phoenix, Arizona, has announced the launch of its new third-party fee management company, Rise48 Residential. This expansion marks a significant step in the company’s growth, as Rise48 Residential has already taken on the management of four properties in Dallas and Fort Worth, TX, with plans to expand further in Q4.

After establishing a presence in the Dallas market in 2022 and expanding to North Carolina earlier this year, Rise48 Equity continues to strengthen its footprint by diversifying into property management. Rise48 Residential is a full-suite professional property management company, equipped with a full-time, experienced team specializing in operations, financial reporting, and marketing. The company focuses on assets built from the 1960s to the early 2000s, delivering tailored management solutions to optimize property performance.

Zach Haptonstall, CEO & Co-Founder of Rise48 Equity said, “We’ve recently had numerous lenders reach out to us saying they’re very happy with how we manage and operate the assets we currently own as a borrower, and these same lenders have asked us to help take over third-party fee management for other assets that they have foreclosed on from other borrowers. We saw an opportunity to expand on what we do best, which is manage and execute value-add business plans on existing multifamily properties.

The launch of Rise48 Residential allows us to share and expand our proprietary methods to third parties for marketing, recruiting staff, hiring, training, controlling supply chain, and executing on business plans. In Q4 we are taking over third-party management for other property owners in Arizona and have more assets in the pipeline from lenders coming in Texas. We will serve property owners and lenders in the Southwest, Southeast, and Texas markets for third-party fee management.

Our goal is to manage 50,000 units nationwide in the next 5 years for third parties. We will continue to grow our investment platform Rise48 Equity where we acquire and manage assets that we own.

Launching Rise48 Residential allows us to extend our high standard of property management to more communities, ensuring we can drive value not only for investors and lenders, but most importantly for residents,” said Zach Haptonstall, CEO & Co-Founder of Rise48 Equity. “We’re excited to bring this level of expertise to Dallas and are committed to continued growth in this market and beyond.”

Rise48 Residential provides a comprehensive range of services, including operations, financial planning & analysis, human resources, advanced data analytics, and marketing, designed to streamline operations and enhance asset value.

The company aims to bring its unique blend of operational expertise and strategic focus to each property it manages, ensuring maximum returns for investors and a high-quality living experience for residents.

About Rise48 Equity:

Rise48 Equity has completed over $2.3 Billion+ in total transactions and purchased 54 assets, 10,000+ units since 2019. They currently have $1.8 Billion+ of Assets Under Management in Phoenix, AZ and Dallas, TX. They have completed 11 Full-Cycle Dispositions and returned capital to investors. The company has 240+ full-time W2 employees on full healthcare benefits. 

Rise48 Equity provides multifamily investment opportunities for accredited investors to protect and grow their wealth and achieve passive cash-flow. The team brings expertise to acquire, reposition and return capital to investors upon reaching the business plan. 

Rise48 Communities is the vertically integrated property management company that manages all assets owned by Rise48 Equity. The company does all of the construction management, property management, and asset management in-house. 

For more information about Rise48 Equity, visit their website: rise48equity.com

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SOURCE Rise48 Equity

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