Screw Compressor Market Anticipated to USD 17.40 Billion Reach by 2028
The Market was accounted for USD 11.05 Billion in 2021 and is estimated to reach USD 17.40 Billion
in 2028, at the CAGR of 6.7%. refers to a
device that presses air, liquids, and gases through the movement of a screw
type. It is commonly used to provide compressed air to jackhammers, air pumps,
sandblasting performance, industrial paint systems, and riveting insertion tools
to ensure a continuous supply of compressed air with minimal flexibility in
Rapid industrial development around the world is one of the key drivers of market growth. There is widespread product acceptance in a variety of industries, including chemical, petrochemical, metallurgy, mining, automotive, and oil and gas, as delivers premium high-quality air pressure. In addition, the growing demand for natural gas also contributes to market growth. s are widely used for gas transmission, fire suppression, and steam recovery and can operate under extreme weather conditions, thus requiring minor repairs and reducing total operating costs. Various technological innovations, such as the development of energy-efficient and environmentally friendly products, serve as another major growth factor. Other factors, including the increased use of the product by the food and beverage packaging sector, as well as extensive research and development (R&D) activities, are expected to boost the market in the coming years. A barrier to the market is the skepticism shown by customers in adopting new technologies. Other factors include increased infancy costs, the need for skilled labor, and appropriate quality standards. Leaks and excess air flow are major and overcoming challenges. The system is well maintained which avoids air loss. Effective systems are adequately equipped with good reception capacity and have good compressor control.
The global Market can be segmented on the basis of product type, type of stages, technology, and end-user industry. The product is either of oil-injected or oil-free type. While there can be two types of stages to s such as single-stage and multi-stage. Based on technology, the market can be divided into stationary or portable types of . The various end-user industries of the Market include oil and gas, chemicals and petrochemicals, food and beverage, automotive, power plants, mining, and metals among others. stocks cover rapid growth throughout Europe, North America, Asia Pacific, Latin America, the Middle East, and Africa. In this case, the Asia Pacific will be the leading market in the forecast period. In North America, the market share of is said to be a substantial share in the world. The presence of more senior players investing in marketing strategies can boost the market growth in the region. The manufacturing and construction sectors add to the development of efficient compressors to prevent concerns about air pollution and noise which adds to the growing market size of in the region.
The competitive landscape of the industry has also been examined with some of the key players being Ingersoll Rand PLC (Ireland), Atlas Copco AB (Sweden), GE Oil & Gas (U.K.), Siemens AG (Germany), and Gardner Denver, Inc. (U.S.)..
Browse the full Report - Screw Compressor Market by Type (Oil-injected, Oil-Free), by Stage (Single-Stage, Multi-Stage), by Technology (Stationary, Portable), by End-User (Oil & Gas, Chemicals & Petrochemicals, Food & Beverage, Automotive), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)