The screw compressor market is expected to grow from an estimated USD 7.99 Billion in 2016 to USD 11.01 Billion by 2021, at a CAGR of 6.62%. The global market is set to witness significant growth, due to the increasing demand for energy-efficient compressors and low maintenance and operation costs of screw compressors.
The single-stage segment led the screw compressor market in 2015 and is expected to grow at the fastest rate during the forecast period, owing to the increasing demand for screw compressors in industries where process needs continuous high air quality in a shorter downtime. These compressors are more suitable for industries such as petrochemicals, mining, and oil & gas as they help in maintaining continuous and uninterrupted operations.
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With regard to the end-user segment, food & beverage segment is expected to be the fastest growing market in 2016. The food & beverage end-user needs 100% pure oil-free air for processing food. There might be a risk of contamination if the compressed air contains any external particle in the output. Therefore, oil-free screw compressors are used in this industry in order to maintain air quality standards.
Increasing Demand for Energy-Efficient Compressors
Low Maintenance & Operation Costs
Rise in Energy Consumption
Declining LNG Imports in Japan & South Korea
Growing Demand for Environment–Friendly Screw Compressors
Industrialization in Emerging Economies to Increase Demand for Screw Compressors
Adherence to Strict Quality Standards
In this report, the screw compressor market has been analyzed with respect to five regions, namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and Latin America. Asia-Pacific is expected to dominate the global screw compressor market, owing to increasing industrialization and manufacturing facilities in the region. China is expected to dominate the screw compressors market in the Asia-Pacific region.
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To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the screw compressor market. These players include Atlas Copco AB (Sweden), Ingersoll Rand PLC (Ireland), GE Oil & Gas (U.K.), Gardner Denver, Inc. (U.S.), and Siemens AG (Germany). Leading players are trying to penetrate the markets in developing economies, and are adopting various strategies to increase their market share.