The global market for screw compressors is anticipated to experience a year-on-year growth of 3.0% in 2022, achieving a total worth of approximately US$ 14.8 Billion. The surge in automation trends has led to a surge in the demand for oil-free screw air compressors, significantly influencing the market’s trajectory. Over the period spanning from 2022 to 2032, the sales of screw compressors are projected to exhibit a Compound Annual Growth Rate (CAGR) of 3.5%.
The continuous evolution of technology continues to reshape the landscape of industrial equipment. Notably, the emergence of Industry 4.0, also referred to as the fourth industrial revolution, has brought about transformative changes to industrial machinery. Among these advancements, screw compressors, or screw air compressors, stand out for their remarkable efficiency and reliability. They find extensive applications in industries such as refrigeration and natural gas, where their performance outshines that of alternative compressor types.
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Driving Forces behind the Surge in Screw Compressor Demand
The industrial landscape is undergoing a transformation, with the spotlight firmly fixed on the escalating demand for screw compressors. This surge can be attributed to a convergence of pivotal factors that are reshaping the market dynamics. The contemporary industrial arena requires more than just compressed air; it demands oil-free systems that exhibit heightened precision, efficiency, and capacity. As this requirement gains prominence, the allure of screw compressors intensifies.
One of the linchpins driving this trend is the pursuit of operational cost efficiencies. By streamlining processes and minimizing auxiliary equipment, industrial air compressor manufacturers are ushering in a new era of cost-effectiveness. The result is a propellant for the sales of screw compressors, as industries seek not just performance but also smart economics.
A pivotal transition is underway, as conventional equipment yields ground to the technological prowess of next-generation screw compressors. These marvels of engineering not only tout enhanced eco-friendliness but also boast seamless installation and remarkably affordable maintenance. The allure of leaving behind the complexities of traditional systems in favor of the simplicity and advanced capabilities of contemporary technology is proving irresistible to consumers.
“Increasing adoption of rotary screw compressors across various industries, along with increasing popularity of stationary compressors will boost demand in the market over the forecast period,” says an FMI analyst.
Key Takeaways
- 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 will emerge as a lucrative pocket, with sales projected to increase at a 4.1% CAGR over the assessment period.
Competition Landscape
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., Daikin Industries, Siemens, KOBELCO, IHI Rotating Machinery, KAESER, Boge Komressoren, and others.
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Global Screw Compressor Market by Category
By Capacity:
- Up to 5HP
- 5 to 50HP
- 50 to 250HP
- Above 250HP
By Technology:
- Stationary
- Oil Lubricated
- Oil-Free
- Portable
- Oil Lubricated
- Oil-Free
By Stage:
- Single Stage
- Two-Stage
- Multi-Stage
By Driver Type:
- Liquid Driven
- Gas Driven
- Electric
By Type:
- Belt Drive
- Gear Drive
By End-Use:
- Oil and Gas Industry
- Chemical Industry
- Energy and Transmission
- Automotive and Aerospace
- Mining and Minerals
- Other Manufacturing Industry
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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