The demand for screw compressors is increasing due to their superior efficiency, reliability, and versatility compared to traditional piston compressors. The growing need for energy-efficient compressors in various end-use industries such as manufacturing, chemical, petrochemical, and food and beverage is driving the demand for screw compressors.
Moreover, the trend towards automation and digitalization in industrial processes is also boosting the demand for screw compressors. These compressors are equipped with advanced control systems that allow for remote monitoring and operation, making them ideal for modern industrial settings.
The demand for oil-free screw compressors is also on the rise, driven by the need for clean and pure compressed air in sensitive applications such as pharmaceutical manufacturing, electronics production, and food processing.
Overall, the screw compressor market is expected to continue growing in the coming years, driven by the increasing demand for energy-efficient and reliable compressed air systems in various industries.
COVID-19 Analysis
The COVID-19 outbreak has left a major impact on the screw compressor market, which is a part of the energy and power sector, given the slump in the product demand along with the crashing power prices worldwide. Acknowledging the long-term impact of COVID-19, most of the notable companies are trying to cut down the costs of protecting their assets, and are endeavoring to ensure continuous flow of operations to curb revenue loss induced by the novel coronavirus. While several nations are working on finding a COVID-19 breakthrough, the lockdown period has led to restrained movement of materials in the screw compressor market. The short term impact has resulted in a substantial downfall in the investment capacity combined with the power prices dropping as a result of political turbulence, after the onset of SARS-CoV-2. The pandemic has massively impacted the industrial sector, steering the focus of global companies towards development of mitigation measures as well as new business models to deal with the crisis, which can work in favor of the global market.
Screw Compressor Market Analysis
Screw Compressor Market is projected to grow at a CAGR of 5.73% during the forecast period (2022 - 2030).
Market Segmentation
The global screw compressor market is bifurcated into type, technology, stage, and end user.
By type, the oil-injected compressor will lead the market over the forecast period.
By technology, the stationary segment will dominate the market over the forecast period.
By stage, the single segment will spearhead the market over the forecast period.
By end user, the oil gas segment will have the lions share in the market over the forecast period.
Key Players
Eminent market players profiled in the global screw compressor market report include Atlas Copco AB, Sullair LLC, Siemens, Man SE, Kaeser Kompressoren SE, Ingersoll-Rand PLC, GE Oil Gas, Howden Group Ltd, Kobe Steel Ltd, Boge Kompressoren, Bauer Kompressoren, Hitachi Ltd., Gardner Denver, Inc., to list a few.
