Steam Trap Valve

Steam Trap Valve Market Outlook

The global steam trap valve market is projected to reach approximately USD 3.5 billion by 2035, with a compound annual growth rate (CAGR) of around 4.5% during the forecast period from 2025 to 2035. This robust growth can be attributed to the increasing adoption of steam systems across various industries, including manufacturing, energy, and healthcare, which demand efficient thermal energy management. The rising need for energy cost savings and enhanced process efficiency is driving innovations in steam trap technologies, as industries seek to minimize energy waste and improve operational effectiveness. Furthermore, stringent regulatory frameworks aimed at energy conservation and emissions reduction are compelling manufacturers to invest in advanced steam trap solutions, thereby propelling market growth. The focus on maintaining steam quality and the overall health of steam systems is also contributing to the increased demand for steam trap valves globally.

Growth Factor of the Market

Several key factors are propelling the growth of the steam trap valve market. First and foremost, the rapid industrialization in emerging economies is leading to a surge in steam-based applications, necessitating the installation of efficient steam management systems. Additionally, the growing emphasis on sustainability and energy efficiency across industries is driving the demand for steam traps, which play a critical role in optimizing steam usage and reducing wastage. The advent of smart valves equipped with IoT capabilities is also a vital growth factor, as these innovations facilitate real-time monitoring and predictive maintenance, thus enhancing operational efficiency. Moreover, as industries transition towards automated processes, the demand for advanced steam trap valves that integrate seamlessly with control systems is expected to rise. Lastly, the expansion of the food and beverage sector, which heavily relies on steam for various processes, further supports the growth of the steam trap valve market.

Key Highlights of the Market

• Projected market size of USD 3.5 billion by 2035 with a steady CAGR of 4.5%.
• Significant growth driven by the industrialization of emerging economies.
• Rising focus on sustainability and energy efficiency across various sectors.
• Adoption of smart steam trap technologies facilitating enhanced operational monitoring.
• Expansion of steam applications in the food and beverage industry boosting demand.

By Product Type

Mechanical Steam Trap Valves:

Mechanical steam trap valves are widely used in numerous applications due to their simple design and reliable performance. These valves operate based on mechanical principles to discharge condensate while preventing steam leakage. Their straightforward operation allows for easy maintenance and installation, making them a popular choice in various industries, including power generation and manufacturing. The robustness and durability of mechanical steam traps make them suitable for high-pressure applications, which further enhances their popularity in steam management systems. As industries seek reliable and cost-effective solutions for steam handling, the demand for mechanical steam trap valves remains strong, contributing significantly to the overall market growth.

Thermodynamic Steam Trap Valves:

Thermodynamic steam trap valves utilize the thermodynamic principles of pressure differential to operate, allowing them to release condensate while trapping steam efficiently. These valves are known for their quick response times and ability to handle a wide range of operating conditions. The compact design of thermodynamic steam traps makes them suitable for installation in restricted spaces, which is particularly beneficial in retrofitting projects. Their versatility across different applications, including process equipment and steam tracing, drives their demand in the market. With the ongoing trends towards energy-efficient solutions, thermodynamic steam trap valves are gaining traction as industries prioritize optimal steam management practices.

Thermostatic Steam Trap Valves:

Thermostatic steam trap valves operate based on temperature differentials, making them highly efficient in discharging condensate. These valves are particularly effective in applications that require precise temperature control, such as in the food processing and pharmaceutical industries. The ability to maintain consistent steam quality while minimizing energy loss positions thermostatic steam traps as a preferred option for many manufacturing processes. The growing emphasis on quality assurance and compliance with industry standards is further driving the adoption of thermostatic steam trap valves. Their reliability and efficiency in maintaining steam integrity make them a significant segment within the steam trap valve market.

Inverted Bucket Steam Trap Valves:

Inverted bucket steam trap valves are designed for high-capacity applications where large volumes of condensate need to be discharged. These valves function based on buoyancy principles, allowing them to operate effectively under varying pressure conditions. Their robust construction and reliability in high-pressure environments make inverted bucket steam traps ideal for use in power plants and large-scale manufacturing facilities. Furthermore, the capability to handle fluctuating load conditions enhances their appeal, leading to their increased uptake in industries where steam demand is variable. As industries evolve towards optimizing their steam systems, inverted bucket steam trap valves are expected to maintain a strong market presence.

Float and Thermostatic Steam Trap Valves:

Float and thermostatic steam trap valves combine the benefits of both float mechanisms and thermostatic control to provide efficient condensate discharge while ensuring steam retention. This dual action allows for superior performance in various steam applications, particularly in scenarios where condensate management is critical. Their ability to adapt to changing conditions makes them suitable for applications in the food and beverage and chemical industries, where precise control is required. The increasing need for reliable condensate handling solutions is driving the demand for float and thermostatic steam trap valves, making them an important segment in the steam trap valve market.

By Application

Steam Tracing:

Steam tracing is a crucial application wherein steam is used to maintain or raise the temperature of pipelines and vessels. It is widely utilized in industries such as oil and gas, chemicals, and food processing to prevent freezing and ensure optimal process conditions. The implementation of steam traps in tracing systems is vital, as they allow for the efficient removal of condensate, thus preventing water hammer and maintaining system efficiency. As more industries recognize the importance of maintaining temperature control in processes, the demand for steam trap valves dedicated to steam tracing applications is anticipated to grow significantly, contributing positively to the overall market outlook.

Process Equipment:

The use of steam in process equipment is a fundamental aspect of many manufacturing processes, enabling efficient heating and cooling operations. Steam trap valves play a critical role in these applications by removing condensate and non-condensable gases from steam systems, which enhances efficiency and prolongs the life of equipment. As industries strive for operational excellence and reduced downtime, the need for reliable steam trap valves in process equipment is expected to escalate. This growing recognition of the importance of steam management in enhancing productivity drives the market for steam trap valves within this application segment.

Drip Leg:

Drip legs are essential components in steam systems, designed to collect and remove condensate from steam lines, ensuring the effective operation of the system. The incorporation of steam trap valves in drip legs is critical for preventing steam loss and maintaining system integrity. As industries prioritize efficient steam handling to minimize energy losses, the demand for steam trap valves in drip leg applications is increasing. The continuous focus on optimizing steam management within processes highlights the importance of reliable steam traps in these configurations, thereby supporting growth within this segment.

Mainline Trapping:

Mainline trapping involves the removal of condensate from the main steam lines, which is crucial for maintaining the efficiency and reliability of steam systems. The integration of steam trap valves in mainline applications ensures the effective discharge of condensate while preventing steam loss, thereby enhancing overall system performance. As industries expand their steam infrastructure and seek to improve energy efficiency, the need for high-quality steam trap valves in mainline trapping is expected to rise. The increasing focus on energy conservation and system optimization will further boost the demand for steam trap valves in this important application area.

Others:

In addition to the aforementioned applications, steam trap valves are utilized in various other applications, including district heating, HVAC systems, and commercial laundries. Each of these areas requires specialized steam management solutions that ensure efficient condensate removal while minimizing steam losses. The diverse applications of steam trap valves highlight their versatility and adaptability across different sectors. As industries continue to expand and evolve, the demand for tailored steam trap solutions in these additional applications is likely to contribute to the overall growth of the market.

By Distribution Channel

Direct Sales:

Direct sales are a primary distribution channel for steam trap valves, allowing manufacturers to establish direct relationships with end-users and offer customized solutions based on specific needs. This approach facilitates better communication and understanding of customer requirements, resulting in tailored products that enhance operational efficiency. Direct sales enable manufacturers to provide comprehensive support and technical assistance, fostering long-term partnerships with clients. As industries increasingly prefer direct engagement with suppliers for more efficient procurement processes, the demand for steam trap valves through direct sales channels is anticipated to grow, thereby positively impacting the overall market.

Distributor Sales:

Distributor sales play a significant role in the steam trap valve market by providing widespread access to a diverse customer base. Distributors often carry a comprehensive range of products, allowing them to serve various industries and applications effectively. They leverage their established networks to reach end-users who may not have direct access to manufacturers, thereby expanding the market reach of steam trap valves. Additionally, distributors often offer value-added services, such as inventory management and customer support, which enhance their appeal to customers. The growing trend towards outsourcing procurement to distributors is expected to bolster the demand for steam trap valves through this channel.

Online Retail:

The rise of online retailing has transformed the way steam trap valves are marketed and sold. E-commerce platforms provide end-users with a convenient way to browse and purchase a wide range of steam trap products from the comfort of their facilities. The accessibility of online channels allows companies to compare products, prices, and specifications easily, thereby making informed purchasing decisions. Furthermore, the ability to access customer reviews and ratings enhances the reliability of online purchases, contributing to increased confidence in the buying process. As more industries adopt digital procurement strategies, the importance of online retail in the steam trap valve market is expected to grow significantly.

By Material Type

Stainless Steel:

Stainless steel is widely regarded as a leading material choice for steam trap valves due to its impressive resistance to corrosion, high temperatures, and overall durability. The ability of stainless steel to withstand harsh environments makes it ideal for applications in the food and pharmaceutical industries, where cleanliness and compliance with regulations are paramount. The longevity and reliability of stainless steel steam trap valves contribute to reduced maintenance costs and downtime, making them a preferred option among manufacturers. As the demand for high-quality and resilient steam trap solutions continues to rise, the market for stainless steel valves is expected to grow substantially.

Carbon Steel:

Carbon steel steam trap valves are known for their strength and affordability, making them a popular choice for various industrial applications. While carbon steel may not offer the same level of corrosion resistance as stainless steel, it is effective in applications where the operating conditions are less aggressive. The adaptability of carbon steel valves allows them to be utilized in a wide range of steam systems, thereby catering to diverse industry needs. As industries seek cost-effective solutions without compromising performance, the demand for carbon steel steam trap valves is anticipated to remain stable in the market.

Cast Iron:

Cast iron is a traditional material utilized in steam trap valves, particularly in heavy-duty applications where durability is essential. The inherent strength and wear resistance of cast iron make it suitable for high-pressure environments. Despite its heavier weight, cast iron valves remain popular due to their historical performance and reliability in established steam systems. As industries continue to operate legacy steam equipment, the demand for cast iron steam trap valves is expected to persist, especially in sectors such as power generation and manufacturing. The ongoing maintenance and replacement requirements of these systems will further support the market for cast iron valves.

Bronze:

Bronze steam trap valves are favored for their excellent corrosion resistance and ability to withstand various chemical environments. The combination of copper and tin in bronze provides a robust material that performs well in both high-temperature and high-pressure applications. These valves are particularly beneficial in the chemical processing and marine industries, where exposure to corrosive substances is common. The increasing need for reliable and durable solutions in challenging environments is driving the demand for bronze steam trap valves, making them an important segment in the overall market.

Others:

Other materials used in steam trap valve construction include specialty alloys and composites designed for specific applications. These materials offer unique properties, such as enhanced resistance to extreme temperatures, corrosive environments, or specific industry regulations. The use of advanced materials is often driven by technological advancements, enabling manufacturers to develop innovative steam trap solutions that cater to niche markets. As industries strive for improved performance and compliance with stringent regulations, the demand for steam trap valves made from alternative materials is expected to gain traction. The continued exploration of new materials will contribute to the diversity and growth of the steam trap valve market.

By Region

The regional analysis of the steam trap valve market illustrates significant variations in demand and growth potential across different areas. North America is anticipated to hold a prominent share of the market, driven by the presence of established manufacturing sectors and a strong focus on energy efficiency and sustainability initiatives. The increasing adoption of advanced steam management systems in industries such as food processing and pharmaceuticals is further bolstering the market in this region. Furthermore, the North American steam trap valve market is expected to witness a steady CAGR of approximately 4% through 2035, fueled by ongoing technological advancements and the growing emphasis on reducing operational costs.

In Europe, the steam trap valve market is also expected to experience substantial growth, primarily due to stringent regulatory requirements concerning energy efficiency and emissions reduction. The increasing investments in renewable energy and sustainable practices across various sectors contribute to the rising demand for steam trap solutions. The diverse industrial landscape in countries like Germany, France, and the UK creates a strong market for steam management technologies. Meanwhile, the Asia Pacific region is poised for rapid growth, with a projected CAGR of around 5% due to rapid industrialization, particularly in India and China. As manufacturing sectors in this region expand, the need for efficient steam systems will drive the demand for steam trap valves, further diversifying the global market landscape.

Opportunities

The steam trap valve market presents numerous opportunities for growth driven by technological advancements and evolving industrial needs. One significant opportunity lies in the integration of IoT technology within steam trap systems, allowing for real-time monitoring and predictive maintenance. As industries become more automated, the demand for smart steam trap solutions that can collect and analyze operational data is expected to surge. This capability not only enhances efficiency but also minimizes downtime, ultimately contributing to cost savings and improved productivity. Additionally, as companies increasingly prioritize sustainability, there is a growing demand for energy-efficient steam management solutions that reduce emissions and optimize resource usage. This presents a lucrative opportunity for manufacturers to innovate and develop advanced steam trap technologies that align with these sustainability goals.

Furthermore, the expansion of the food and beverage sector, coupled with the rising need for compliance with health and safety regulations, presents significant opportunities for market players. The food industry’s increasing reliance on steam for processes such as cooking, sterilization, and pasteurization necessitates the use of efficient steam trap valves to ensure proper condensate management and maintain product quality. As food and beverage regulations continue to tighten globally, the demand for reliable steam trap solutions that meet industry standards will expand. Moreover, the ongoing investments in infrastructure development in emerging economies will further boost the demand for steam trap valves as industries seek to modernize and optimize their operations, creating a favorable environment for market growth.

Threats

The steam trap valve market faces certain threats that could impact its growth trajectory. One of the prominent threats is the fierce competition among manufacturers, leading to price wars that may erode profit margins. As new entrants emerge and established players expand their portfolios, companies may feel pressured to lower prices to maintain market share. This trend can hinder innovation and investment in research and development, ultimately affecting the quality of steam trap solutions available in the market. Additionally, fluctuations in raw material prices can pose a risk to manufacturers, as increases in material costs may lead to higher production expenses and, consequently, higher prices for end-users. Such challenges can deter investments in steam trap systems, particularly in price-sensitive markets.

Furthermore, the market may encounter restrictions related to regulatory compliance. As environmental regulations become more stringent, manufacturers may need to invest significantly in research and development to ensure their products meet compliance standards, which can be financially burdensome. Non-compliance could result in penalties and damage to brand reputation, further complicating market dynamics. The potential for economic downturns can also negatively affect the steam trap valve market, as industries may postpone investments in new technologies or infrastructure projects, leading to decreased demand. Therefore, addressing these threats will be essential for market players to sustain growth and remain competitive.

Competitor Outlook

• Valsteam ADCA Engineering S.A.
• Spirax Sarco Ltd.
• Emerson Electric Co.
• Honeywell International Inc.
• Armstrong International Inc.
• Flowserve Corporation
• Circor International Inc.
• Yamato Scientific Co., Ltd.
• Schneider Electric SE
• Jamesbury LLC (part of Emerson)
• AMETEK, Inc.
• Pentair PLC
• Process Valve & Control, Inc.
• Tyco International plc (part of Johnson Controls)
• Thermo Fisher Scientific Inc.

The competitive landscape of the steam trap valve market is characterized by a mix of established players and emerging companies, each striving to gain a foothold in this dynamic market. Major players like Spirax Sarco Ltd. and Emerson Electric Co. have established themselves as leaders, offering a comprehensive range of steam management solutions, including advanced steam trap technologies. These companies leverage their extensive distribution networks and strong brand recognition to maintain a competitive edge. Furthermore, continuous innovations and enhancements in product offerings, including smart steam traps equipped with IoT capabilities, enable these companies to cater to the evolving needs of industries looking for efficient and sustainable solutions.

Emerging players in the market are also making significant strides by focusing on niche applications and specialized product offerings. Companies such as Circor International Inc. and Flowserve Corporation are investing in research and development to introduce innovative steam trap solutions that meet specific industry requirements. The competitive landscape is further fueled by strategic partnerships and collaborations, as companies seek to expand their market presence and enhance their technological capabilities. This collaborative approach enables firms to access new markets and customer segments, driving overall market growth.

In addition to product innovation, customer service and technical support play a crucial role in differentiating players in the steam trap valve market. Companies that prioritize customer satisfaction and offer comprehensive support services, such as installation assistance and maintenance training, are likely to gain a loyal customer base. As the market continues to evolve, the focus on sustainability, efficiency, and regulatory compliance will shape competitive strategies, compelling players to adapt and innovate to stay relevant in a rapidly changing landscape.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Pentair PLC
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 AMETEK, Inc.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Spirax Sarco Ltd.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Emerson Electric Co.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Flowserve Corporation
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Schneider Electric SE
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Circor International Inc.
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Yamato Scientific Co., Ltd.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Armstrong International Inc.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Honeywell International Inc.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Process Valve & Control, Inc.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Thermo Fisher Scientific Inc.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Valsteam ADCA Engineering S.A.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Jamesbury LLC (part of Emerson)
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Tyco International plc (part of Johnson Controls)
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Steam Trap Valve Market, By Application
    • 6.1.1 Steam Tracing
    • 6.1.2 Process Equipment
    • 6.1.3 Drip Leg
    • 6.1.4 Mainline Trapping
    • 6.1.5 Others
  • 6.2 Steam Trap Valve Market, By Product Type
    • 6.2.1 Mechanical Steam Trap Valves
    • 6.2.2 Thermodynamic Steam Trap Valves
    • 6.2.3 Thermostatic Steam Trap Valves
    • 6.2.4 Inverted Bucket Steam Trap Valves
    • 6.2.5 Float and Thermostatic Steam Trap Valves
  • 6.3 Steam Trap Valve Market, By Material Type
    • 6.3.1 Stainless Steel
    • 6.3.2 Carbon Steel
    • 6.3.3 Cast Iron
    • 6.3.4 Bronze
    • 6.3.5 Others
  • 6.4 Steam Trap Valve Market, By Distribution Channel
    • 6.4.1 Direct Sales
    • 6.4.2 Distributor Sales
    • 6.4.3 Online Retail

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Steam Trap Valve Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Steam Trap Valve market is categorized based on

By Product Type

• Mechanical Steam Trap Valves
• Thermodynamic Steam Trap Valves
• Thermostatic Steam Trap Valves
• Inverted Bucket Steam Trap Valves
• Float and Thermostatic Steam Trap Valves

By Application

• Steam Tracing
• Process Equipment
• Drip Leg
• Mainline Trapping
• Others

By Distribution Channel

• Direct Sales
• Distributor Sales
• Online Retail

By Material Type

• Stainless Steel
• Carbon Steel
• Cast Iron
• Bronze
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Valsteam ADCA Engineering S.A.
• Spirax Sarco Ltd.
• Emerson Electric Co.
• Honeywell International Inc.
• Armstrong International Inc.
• Flowserve Corporation
• Circor International Inc.
• Yamato Scientific Co., Ltd.
• Schneider Electric SE
• Jamesbury LLC (part of Emerson)
• AMETEK, Inc.
• Pentair PLC
• Process Valve & Control, Inc.
• Tyco International plc (part of Johnson Controls)
• Thermo Fisher Scientific Inc.