Screw Compressors Market Share, Opportunities, Industry 2030

Report Description

The global screw compressors market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing global capacity and rising industrial investment investments for refinery and petrochemical infrastructure.

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A compressor is a device that creates and manages the pressure at various speeds to enable applications, jobs, processes, and functions to be performed at faster rate. The compressors are used for improving the working efficiency and lowering the power consumption costs. The screw compressors are designed to provide a very flexible and highly reliable alternative for low pressure applications. The compressors are used widely in major industries such as semiconductors, energy & power, manufacturing, food & beverage, healthcare, materials & chemicals, home appliances, and oil & gas. The compression of air is used to catalyze and energize different kinds of applications for multiple industrial purposes. The screw compressors are either single-stage or two-stage devices. The single-stage compressor is used to pressurized air into a cylinder and compressed it in a single stroke with a piston. On the other hand the two-stage compressor is used to squeeze the air twice in the chamber for achieving higher pressures than single-stage units. The declining pressures in natural gas fields have greatly increased the use of rotary screw as an alternative to reciprocating machines. The screw compressors do not have suction & discharge valves that open & close automatically based on pressure across which they are operated. The screw compressors require proper positioning of the radial discharge port to control volume ratio and match the internal compression ratio of the machine according to the process requirements. However, the advanced screw compressors are capable of controlling capacity using the slide valve and associated power savings.

The COVID-19 pandemic had a dramatic impact on the dynamics of various industries. The nationwide lockdowns and stringent regulations resulted into the halting of industrial manufacturing and production. The outbreak of coronavirus caused disruption in supply-chain, production, transportation, and research & development activities at global level. Therefore, the economic slowdown due to the pandemic situation had negatively impacted the growth of the screw compressors market.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing demand for energy-efficient compressors and rise in energy consumption are the major factors anticipated to fuel the growth of the market in the coming years.
• Rising expansion of solar industries and oil recovery activities are increasing usage of industrial gases are expected to propel the market growth during the forecast period.
• Growing end-user demands, increasing initiatives for energy-efficient solutions, and changing energy efficiency standards are some of the factors spurring the market expansion.
• Increasing usage of renewable energy sources is likely to decrease in the demand for coal and natural gas for power generation is anticipated to hamper the market growth in the coming years.
• Ongoing research & developments for innovative product launches and growing industrial investments for the expansion of product line and offerings are expected to offer immense opportunities for the market players in the long run.

Scope of the Report

The report on the global riding gear network market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Screw Compressors Market Segment Insights

Oil-injected screw compressor segment is anticipated to register at a substantial CAGR

Based on technologies, the market is bifurcated into oil-free screw compressor and oil-injected screw compressor. The oil-injected screw compressor segment is anticipated to register at a substantial CAGR during the projected period owing to the effective lubrication of the compressor moving parts, efficient cooling of the compressed air, and significant reduction in leaks from the inlets during the discharge. However, the oil-free screw compressor segment is expected to register at a rapid pace during the forecast period owing to its high demand for medical procedures having threat & consequences of oil contamination.

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Single-stage screw compressors segment is projected to hold a significant market share

On the basis of stages, the market is segmented into single-stage screw compressors and multi-stage screw compressors. The single-stage screw compressors segment is projected to hold a significant market share during the forecast period due to the rising industrial activities of micro, medium, and small enterprises. Furthermore, the growing industrial applications involving air compression, gas refrigeration, hydrocarbon processing, and power utilization from low-grade heat sources are anticipated to fuel the market segment in the coming years. On the other hand, the multi-stage screw compressors segment is expected to register at a considerable pace owing to the high industrial demand for lightweight, cheap, and volumetric screw compressors. Moreover, the effective lubrication and heat resistance provided by the multi-stage screw compressor is expected to drive the growth of the market segment during the forecast period.

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Manufacturing industry segment is expected to constitute a major market share

Based on end-user industries, the market is segregated into oil & gas industry, construction industry, manufacturing industry, mining industry, and others. The manufacturing industry segment is further divided into steel industry, chemical industry, and others. The manufacturing industry segment is expected to constitute a major market share during the forecast period due to the growing demand from steel, chemical, and glass manufacturing industries. However, the oil & gas industry segment is projected to account for a key market share owing to the increasing demand for capacity control, power saving, and effective lubrication from various manufacturing industries.

Asia Pacific market is anticipated to dominate the market

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to dominate the market during the forecast period owing to the growing industrial investments and rising production & consumption of the steel. Moreover, the increasing demand for high-purity industrial gases is expected to fuel demand from leak-proof air separation & compressor units. Therefore, the rising demand for screw compressors to avoid gas leaks is expected to boost the market expansion during the projected timeline. On the other hand, the market in North America is expected to grow at a significant rate during the forecast period due to growing end-user industries, high demand for screw compressors, and increasing government initiatives. Furthermore, the increasing industrialization, rising energy consumption, and growing manufacturing facilities in the region are anticipated to push the growth of the market in the coming years.