The global screw compressor market is expected to exhibit moderate growth during 2021-2026. A screw compressor refers to a mechanical device that compresses air, liquids and gases using a screw-type motion. It is commonly used to provide compressed air to jackhammers, pneumatic pumps, sandblasting operations, industrial paint systems and riveting tools to ensure a continuous supply of compressed air with minimal fluctuations in the delivery pressure. The device majorly consists of concave and convex contour rotors, a casing, air filter, rubber seal, suction valve and delivery valve. In comparison to the traditionally used piston compressors, screw compressors can be used for high-power tools and heavy industrial applications without the requirement of high air pressure.
Rapid industrialization across the globe is one of the key factors driving the growth of the market. There is a widespread product adoption across various industries, including chemical, petrochemical, metal, mining, automotive and oil and gas, as screw compressors deliver premium-quality compressed air with higher efficiencies. Furthermore, the growing demand for natural gas is also providing a boost to the market growth. Screw compressors are largely used for transferring gas, flare elimination and vapor recovery and can also operate under extreme weather conditions, thereby requiring minimal maintenance and reducing the overall operational costs. Various technological innovations, such as the development of energy-efficient and environment-friendly product variants, are acting as another major growth-inducing factor. Other factors, including an increasing product utilization by the food and beverage packaging sector, along with extensive research and development (R&D) activities, are projected to drive the market in the coming years. Looking forward, IMARC Group expects the global screw compressor market to grow at a CAGR of around 5% during the forecast period (2021-2026).
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The competitive landscape of the industry has also been examined with some of the key players being Atlas Copco, Bauer Kompressoren, Boge Kompressoren, GE Oil & Gas, Hitachi Ltd., Howden Group Ltd., Ingersoll Rand, Kaeser Kompressoren SE, Kobe Steel Ltd., Man SE, Siemens AG, Sullair LLC, etc.
Key Questions Answered in This Report:
The global screw compressor market size was valued at US$ 9.19 Billion in 2020.
According to the estimates by IMARC Group, the global screw compressor market is expected to witness a CAGR of 5% from 2021 to 2026.
Rapid industrialization, along with the widespread adoption of screw compressors across various industries, including chemical, petrochemical, metal, mining, automotive, oil and gas, etc., to deliver premium-quality compressed air with higher efficiencies are some of the key drivers for the global screw compressor market.
Increasing product utilization by the food and beverage packaging sector, along with extensive research and development (R&D) activities represent some of the key trends in the global screw compressor market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of various end use industries and supply chain disruptions of mechanical components for screw compressor.
On the basis of the technology, the market has been bifurcated into stationary screw compressors and portable screw compressors. At present, stationary screw compressors account for the majority of the market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
The key companies in the global screw compressor market are Atlas Copco, Bauer Kompressoren, Boge Kompressoren, GE Oil & Gas, Hitachi Ltd., Howden Group Ltd., Ingersoll Rand, Kaeser Kompressoren SE, Kobe Steel Ltd., Man SE, Siemens AG, Sullair LLC, etc.
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