The new report by Expert Market Research titled, Global Screw Compressor Market Trends, Share, Size, Growth, Report and Forecast 2023-2028, gives an in-depth analysis of the screw compressor market, assessing the market based on its segments like Technology, Stage, End Use, and Regional markets among others.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 11.53 billion
- Forecast CAGR (2023-2028): 6.3%
- Forecast Market Size (2028): USD 16.61 billion
The increased demand for screw compressors in the Asia Pacific area is expected to boost the global market for screw compressors. The market demand for screw compressors is predicted to expand positively in the coming years because of powerful industrialisation and urbanisation in key nations in the region, such as India and China, as well as a thriving industrial sector.
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The Chinese government’s efforts to raise the amount of nitrogen used in oil recovery activities are likely to boost demand for energy-efficient technologies, boosting the total market for screw compressors.
Furthermore, because of the region’s growing pollution levels, the market for screw compressors is expected to expand further. Screw compressors are also used widely in the automobile industry for air tools, plasma cutting, plasma welding, production finishing, and aeration. The Asia-Pacific region’s significant car penetration is projected to drive market expansion in the future years.
Screw Compressor Industry Definition and Major Segments
A screw compressor is a mechanical device that uses a screw-type motion to compress air, liquids, and gases. It’s widely used to feed compressed air to jackhammers, pneumatic pumps, sandblasting operations, industrial paint systems, and riveting equipment to maintain a constant supply with minimum pressure changes.
Concave and convex contour rotors, a casing, an air filter, a rubber seal, a suction valve, and a delivery valve make up most of the device. Screw compressors, as opposed to standard piston compressors, may be utilised for high-power tools and heavy industrial applications without the need for high air pressure.
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On the basis of technology, the market can be segmented into:
The market, based on stage, can be categorised into:
Based on end use, the market can be divided into:
- Oil and Gas
The regional markets for the product include:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Screw Compressor Market Trends
The growing industrialisation of the world is driving the global market for screw compressors. Screw compressors are widely utilised in a variety of industries, including automotive, chemical, pharmaceutical, and manufacturing, to name a few. Screw compressors are used in the chemical sector to create compressed air with greater efficiency.
Screw compressors are widely utilised for transporting gas, flaring eradication, and are built to perform in adverse weather situations, all of which are driving market expansion. Screw compressors are also energy efficient and engineered to give minimal capacity loss over time, boosting market development.
Furthermore, market development is being bolstered by growing worldwide demand for natural gas as a result of increased acceptance of sustainable living. Furthermore, government-supported research and development (R&D) is catalysing the industry’s market expansion.
Key Market Players
The major players in the market are Aerzener Maschinenfabrik GmbH, Atlas Copco AB, Bauer Comp Holding GmbH, Emerson Electric Co., Kobe Steel Ltd., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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