Screw Compressor Market Size, Share, Trends, Growth and Forecast 2032

Screw Compressor Market Insights

Zion Market Research has published a report on the global Screw Compressor Market, estimating its value at USD 12.11 Billion in 2023, with projections indicating that it will reach USD 18.56 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 4.86% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Screw Compressor Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Screw Compressor Market Size

A screw compressor is a mechanical device used to compress air using a screw-type motion. The screw compressor functions to rise the pressure of gas to lessen the volume of gas. Screw compressors are broad of two types, oil-injected screw compressors and oil-free type of screw compressors.

The market is witnessing increase demand for energy-efficient compressors. This is due to demand qualities of screw compressors like higher quality compressed air, low operational and maintenance cost is the prime drivers of the screw compressor market. The upsurge in investments in the refining and petroleum industry are estimated to boost the demand for screw compressors. The rising technological advancements are anticipated to drive the market demand in the forecast period.

The nationwide lockdown implementation had halted the manufacturing processes resulting loss of revenue. The supply and distribution chain for components of screw compressors got disrupted resulting in even supply of raw materials and delayed delivery of finished products. Lockdown implementation affected the human resource required for production and manufacturing.

Companies all over the world are trying to take necessary measures to overcome the losses incurred during the pandemic period. Companies are resuming their manufacturing processes by ensuing safety of the human resources like labors and employees. Strict hygiene and social distancing regulations re implemented to ensure safety of workers along with efficient production of products.

Growth Factors

The qualities of screw compressors such as delivering high-quality compressed air, low operational and maintenance costs, and higher efficiency are major market drivers of the screw compressor market. The demand for eco-friendly screw compressors is increasing. Industries like food and beverages, chemical and petroleum refining, mining having an increase in investments leading to rise in demand for screw compressors. The screw compressors have less energy cost and work efficiently due to which the demand for screw compressors is increasing. This rising demand is estimated to provide growth opportunities to the screw compressor market. The rising investments in manufacturing sector by the leading economies and growth of end-user industries are estimated to drive the market demand in forecast period.

Screw Compressor Market: Report Scope

Type Segment Analysis Preview

The oil-free screw compressors segment held a share of around 35.8% in 2020. The oil-free screw compressors dominate the market. This is attributed to the extensive use of screw compressors in production and providing service facilities like clean, pure, and oil-free air. The end-user industries like food and beverages processing, textiles, and pharmaceutical production have a higher demand for oil-free screw compressors to eliminate the risk of contamination and to ensure oil-free compressed air. This rise in demand for the screw compressors by the end-user industry is estimated to continue driving the market growth of the segment in the forecast period.

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End User Segment Analysis Preview

The automotive segment will grow at a CAGR of over 6.3% from 2021 to 2032. The screw compressor market is segmented depending on end-user into industries like chemicals & petrochemicals processing, oil & gas, power plants, food & beverage, automotive, metals and mining, and others.

The growth of the market is attributed to the exponential growth of these industries. The increasing investments in manufacturing industry by the emerging economies are anticipated to upsurge the segment in the forecast period. Among these food and beverages, oil and gas are expected to grow at the highest CAGR during the forecast period leading to increased demand for compressed air.

Regional Analysis Preview

The Asia Pacific region is projected to grow at a CAGR of 6.4% over the forecast period. Asia pacific is currently holding the major share of the screw compressor market. This is attributed to the increase in industrialization and increasing energy consumption and presence of manufacturing facilities in this region. China is the dominating the Asia-Pacific market. Also, India and Southeast Asia are majorly contributing screw compressor market. Energy-efficient standards are being implemented by Japan and China thereby boosting the demand for screw compressors in the Asia-Pacific region.

The Middle East and Africa regions are projected to grow at a CAGR of around over the forecast period. This growth is attributed to developments in the metal and mining industry, chemical and petrochemical processing industry. The rising technological advancements and rising adoption of screw compressors by vendors in manufacturing industry are estimated to drive the market demand in the forecast period.

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Key Market Players & Competitive Landscape

Some of the key players in the screw compressor market are-

• Atlas Copco
• Hitachi Ltd.
• Ingersoll Rand Plc.
• Boge Kompressoren
• Kaeser Kompressoren Se
• Gardner Denver Inc.
• Howden Group Ltd.
• Kobe Steel Ltd.
• MAN Diesel & Turbo
• Siemens Energy and Sullair LLC.

The leading market players are focusing on strategies like collaborations partnership, agreements to expand their geographic reach on a user basis. Also, mergers and acquisitions are being implemented to expand the product portfolio. Companies are also focusing on strengthen their distribution channel to strengthen their regional and global customer base.

Ex. In May 2021, Atlas Copco had acquired New England Compressor Distributor. This acquisition will aid Atlas Copco for better distribution in regional market.

The global screw compressor market is segmented as follows:

By Stage

• Single-Stage
• Multi-Stage

By Type

• Oil-Injected Screw Compressors
• Oil-Free Screw Compressors

By Technology

• Stationary
• Portable

By End-User

• Automotive
• Chemicals & Petrochemicals Processing
• Oil & Gas
• Food & Beverage
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa