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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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