WASHINGTON, Feb. 07, 2022 (GLOBE NEWSWIRE) -- The Global Screw Compressor Market size is expected to reach over USD 17.40 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period. The market stood at USD 11.05 Billion in the year 2021.
Market Synopsis
The properties of Screw Compressors like, higher efficiency, delivering good-quality compressed air, and dynamic and swift response would grow its application in compressor and air treatment applications. This will grow the Screw Compressor Market significantly.
The Screw Compressors provide better efficiency and reduce energy costs owing to which its user base is growing coupled with increasing demand for the Market for Screw Compressor, states Vantage Market Research, in a report, titled “Screw Compressor Market by Type (Oil-injected, Oil-Free), by Stage (Single-Stage, Multi-Stage), by Technology (Stationary, Portable), by End-User (Oil & Gas, Chemicals & Petrochemicals, Food & Beverage, Automotive), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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- In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.
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- Provide chapter-wise guidance on request 2021 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.
- Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using Vantage Market Research methodology.
(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)
List Of Prominent Players in the Screw Compressor Market:
- Ingersoll Rand PLC (Ireland)
- Atlas Copco AB (Sweden)
- GE Oil & Gas (U.K.)
- Siemens AG (Germany)
- Gardner Denver, Inc. (U.S.)
Market Dynamics:
Driver: Properties like, Low Maintenance, Energy-Efficient, Others are Driving the Market
The increasing demand for operation costs and low maintenance, increasing energy consumption, and energy-efficient compressors are some of the major factors fuelling the Screw Compressor Market growth. Developments made in the markets of F&B, textile, automotive, and pharma are among the several factors resulting in the surge in demand of the Screw Compressor Market. The consistent rising demand for environment-friendly Screw Compressors is a key factor which will provide significant growth opportunities to the Market.
Restraint: Adherence to Stringent Quality Standards and Lack of Skilled Labour
There are some challenges and restraints faced which will hamper the growth of the market. The determinants such as adherence to stringent quality standards and lack of a skilled labour are restricting the market growth. Furthermore, high power consumption owing to the production of debris because of high-speed operation, fast-moving compressor, and defiance in the use of new technology are hampering the growth of the Screw Compressor Market overall. Nevertheless, the rising demand for industrialization in developing economies and eco–friendly Screw Compressors is further expected to boost demand for the market.
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Regional Trends
Asia Pacific is likely to dominate the market for Screw Compressors over the forecast period. In 2018, the production of steel in Asia-Pacific expanded drastically reaching highest in 10 years. China is the largest consumer and producer of the steel, globally. It has been planning to expand the quantity of nitrogen gas for use in oil recovery process, which is likely to grow the demand for industrial gases. Furthermore, India has come out to be an attractive destination for investment globally, due to government’s initiatives like, ‘Make in India’, to drive the activities related to manufacturing in the nation. Therefore, with increasing end-user markets in the region the Screw Compressors demand used in these sectors is likely to grow in the coming years in the region.
Recent Developments
- Oct, 2021: Howden, a major supplier of mission-critical air and gas handling products, technologies, and facilities, has agreed to acquire Compressor Products International, a leading supplier of aftermarket technologies and services worldwide reciprocating compressor market, from EnPro Industries.
- July, 2021: Ingersoll Rand Inc., a leading supplier of mission-critical flow creation and industrial solutions is pleased to introduce the innovative GDK Series of oil-lubricated rotary Screw Compressors.
- June, 2019: ELGI Equipment, a leading air compressor manufacturer, presents a new line of encapsulated screw air compressors with constant frequency drivers and heat recovery.
- June, 2017: Kobe Steel, Ltd. proclaimed that Kobe Steel and Miura Co., Ltd. have stated an agreement about Miura’s investment in Kobe Steel’s fully owned Kobelco Compressors Corporation and Kobe Steel’s investment in Miura, as well as a shareholder’s plan, sets to Kobelco Compressors.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Screw Compressor Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
Browse market data Tables and Figures spread through 158 Pages and in-depth TOC on "Screw Compressor Market by Type (Oil-injected, Oil-Free), by Stage (Single-Stage, Multi-Stage), by Technology (Stationary, Portable), by End-User (Oil & Gas, Chemicals & Petrochemicals, Food & Beverage, Automotive), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/screw-compressor-market-115113
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Screw Compressor Market?
- How will the Screw Compressor Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Screw Compressor Market?
- What is the Screw Compressor market drivers and restrictions?
- What will be the CAGR and size of the Screw Compressor Market throughout the forecast period?
The report on Screw Compressor Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
This market titled “Screw Compressor Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 11.05 Billion |
| Projected Market Size in 2028 | USD 17.40 Billion |
| CAGR Growth Rate | CAGR of 6.7% from 2022 -2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Type: - Oil-Injected, Oil-Free Stage: - Single-Stage, Multi-Stage Technology: - Stationary, Portable End-User: - Oil & Gas, Chemicals & Petrochemicals, Food & Beverage, Automotive, Power Plants, Mining & Metals, Others |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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