By 2032, screw compressors are expected to be one of the most popular oil market trends in America with demand growing at a 2.9% CAGR over that time frame - but there will also exist significant competition from countries like Japan where growth rate can reach up 4.8%
NEWARK, Del, June 24, 2022 (GLOBE NEWSWIRE) -- Global sales of Screw Compressors Market are set to be valued at over US$ 14.8 Bn in 2022, with demand increasing at a 3.5% CAGR over the assessment period.
According to Future Market Insights, increasing use of screw compressors in the oil and gas, energy and transmission, and automotive and aerospace industries is the primary driver of the market. Oil-lubricated compressors are durable, dependable, and efficient, making them suitable for a wide range of manufacturing activities. Oil filters and dryers may remove any oil pollution from the end product, resulting in clean compressed air flow that is perfect for construction, waste management, quarrying, recycling, and a range of other applications.
Manufacturers are adding new screw compressors to their product ranges. These air compressors are built to be exceptionally energy efficient; oil-injected screw compressors may reduce energy consumption by up to 50%. This effort increases the compressor's efficiency by 15%, and it is designed to take up less space, make less noise, and provide 12% more free air than previous versions.
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Due to its widespread use in most applications, "stationary" screw compressors have a higher relative relevance in the global screw compressor market. These compressors are an excellent choice for home or professional shops where the device does not need to move. Electric types are especially popular since they require less maintenance, can be used indoors, and are quieter than gasoline-powered models.
“Increasing adoption of rotary screw compressors across various industries, along with increasing popularity od strationary compressors will boost demand in the market over the forecast period,” says an FMI analyst.
Based on technology, demand for stationary compressors will create an absolute $ opportunity worth US$ 3.8 Bn over the forecast period.
In terms of end use, the energy and transmission sector will offer an absolute $ opportunity of more than US$ 1.4 Bn over the assessment period.
Sales of screw compressors in the U.S. will grow at a 2.9% CAGR through 2032.
Japan will dominate the East Asia screw compressor market, with demand growing at a 4.8% CAGR over the forecast period.
India wil emerge as a lucrative pocket, with sales projected to increase at a 4.1% CAGR over the assessment period.
Top players in the screw compressor market are expected to hold around 65%-70% of the total market share. These players are likely to invest in new technology developments and expansion of their distribution networks to maintain their market presence.
Some of the key players operating in the market include Atlas Copco, Hitachi, Ingersoll Rand, Emerson Electric Co., Baikin Industries, Siemes, KOBELCO, IHI Rotating Machinery, KAESER, Boge Komressoren, and others.
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The research report analyzes the demand for screw compressors. The global screw compressors market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background. As per Future Market Insights, the market has been analyzed based on capacity, technology, stage, driver type, type, end-use, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply-side and demand factors.
The Middle East and Africa
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3.1. Key Trends Impacting the Market
5. Global Screw Compressor Market Demand Analysis 2017–2020 and Forecast, 2021–2031
5.1. Historical Market Volume (Units) Analysis, 2017–2020
5.2. Current and Future Market Volume (Units) Projections, 2021–2031
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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