Screw Compressor Market to Reach Valuation of USD 17.40 Billion By 2028 - Increasing demand for Energy-Efficient Compressors to Flourish Market

Vantage Market Research

Feb 01, 2022

In terms of revenue, the Global Screw Compressor Market is expected to reach USD 17.40 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.7% from 2022 to 2028. The Global Screw Compressor Market growth is attributed to the factors such as increasing industrialization and urbanization, widespread product adoption, and growing demand for natural gas. Moreover, factors such as various technological innovations and increasing product utilization by the food and beverage packaging sector are propelling the demand for Screw Compressor and further fueling the market growth.

Key Findings:

  • Under the technology segment, the stationary sub-segment is anticipated to grow at a substantial Compound Annual Growth Rate (CAGR). The growth is attributed to extensive usage in several industries such as food & beverage, automotive, chemicals & petrochemicals, textile, pharmaceuticals, among others.
  • Oil-injected sub-segment held a significant market share in 2021 owing to the increasing requirement of clean and oil-free air by food & beverage, electronics, textile, and pharmaceutical industries, among others.
  • Asia Pacific is the largest regional segment. This is due to the presence of emerging economies such as India and China among others. Moreover, the presence of manufacturing facilities in the region, increasing industrialization & urbanization, and rise in energy consumption are likely to fuel the market growth.

Some of key players in Screw Compressor Market includes - Ingersoll Rand PLC (Ireland), Atlas Copco AB (Sweden), GE Oil & Gas (U.K.), Siemens AG (Germany), and Gardner Denver, Inc. (U.S.)..

During the past few years, industrialization and urbanization is increasing at their wildest level. Also, the widespread product adoption by several industries such as chemical, petrochemical, and mining as well as metal industries is increasing the demand for Screw Compressors. Additionally, these { { Keyword } } s are also used in other industries such as automotive, and oil & gas industry. Furthermore, the utilization of Screw Compressors by the food and beverage packaging sector is increasing. This is increasing the demand for Screw Compressors and further propelling the growth of the market.

Additionally, the demand for Screw Compressors in natural gas industries is also increasing as Screw Compressors are essentially used for transferring gas, and are able to operate under extreme weather conditions along with flare elimination and vapor recovery ability. Thus, the demand for Screw Compressors is likely to increase. These are some of the factors anticipated to dominate the market over the forecast period.

Asia Pacific is expected to emerge as potential market for Screw Compressor Market. The market growth is attributed to the presence of emerging economies such as India and China among others. Moreover, the presence of manufacturing facilities in the region, increasing industrialization and urbanization, and a rise in energy consumption is likely to fuel the market growth. Also, several initiatives taken by the government are anticipated to fuel market growth. For instance, in India, the government’s initiative such as ‘Make in India’, is likely to increase the manufacturing activities in the country and further propel the market growth.