Growing demand for energy-efficient compressors and increasing investment in petrochemical sectors are acting as key growth drivers for global screw compressors market.
According to TechSci Research report, “Global Screw Compressors Market By Type (Oil-injected Screw Compressors and Oil-Free Screw Compressors), By Stage (Single-Stage and Multi-Stage), By Application (Stationary and Portable), By End-User (Oil & Gas, Chemicals & Petrochemicals, Food & Beverage, Automotive, Power Plants, Mining & Metals and Others), By Region, Forecast & Opportunities, 2025”, the market is anticipated to witness a CAGR of around 5% during the forecast period. Rising investment in petrochemical sector is acting as a key growth driver for global screw compressor market as there is a growing application of screw compressors in chemicals and petrochemicals processing. Moreover, screw compressors are also gaining high demand from food and beverages, automotive, metals & mining and oil & gas industries. The growing demand for energy-efficient compressors is further expected to drive the market growth through 2025. Also, screw compressors are efficient in delivering high quality compressed air and hence they are witnessing increasing usage in air treatment and compressor applications.
Furthermore, the global screw compressors market is observing rising demand for eco-friendly screw compressors which is likely to provide new growth opportunities for manufacturers. In addition to this, several advantages associated with screw compressors such as low maintenance, easy to use and low operation costs are augmenting the market growth. Moreover, manufactures are investing on extensive R&D activities to introduce innovative designs which is anticipated to propel the global screw compressor market growth in coming years. However, the market is also facing some challenges. Increasing usage of renewable energy and decreasing application of coal and natural gas for power generation are likely to hamper the global screw compressor market growth.
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Global screw compressors market is segmented based on type, stage, application, end use industry, company, and region. Based on type, the market can be categorized into oil-injected screw compressors and oil-free screw compressors. Among them, the oil-injected screw compressors segment underwent high growth until 2019 and is further expected to dominate the market during the forecast period owing to its wide application in industries such as road side construction, mining & processing plants, among others. Oil-injected screw compressors also reduce costly downtime and production delays.
Based on end use industry, global screw compressors market can be categorized into oil & gas, chemicals & petrochemicals, food & beverage, automotive, power plants, mining & metals, and others. Among them, the automotive segment is expected to undergo fastest CAGR during the forecast period screw compressors market during the forecast period owing to growing use of screw compressors for onshore and offshore applications.
Major players operating in the global screw compressors market are Atlas Copco AB, Ingersoll Rand PLC, GE Oil & Gas, Gardner Denver, Inc., Siemens AG, Hitachi Ltd., Man SE, Kobe Steel Ltd., Howden Group Ltd. and Boge Kompressoren. Leading companies are undergoing growth strategies such as product innovation, mergers & acquisitions, partnership, and agreements to strengthen their position in global screw compressors market.
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“Asia Pacific serves as fastest growing market for global screw compressors market and the region is anticiapted to continue its dominance through 2025. Industrial development in countries like India and China is likely to provide profitable growth opportunities for screw compressor manufactures. Apart from this, screw compressors are increasingly being used in production and supply of gas,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Screw Compressors Market By Type (Oil-injected Screw Compressors and Oil-Free Screw Compressors), By Stage (Single-Stage and Multi-Stage), By Application (Stationary and Portable), By End-User (Oil & Gas, Chemicals & Petrochemicals, Food & Beverage, Automotive, Power Plants, Mining & Metals and Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of screw compressors market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global screw compressors market.
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