The screw compressor market is poised to achieve a projected value of US$ 22.10 billion by 2034, sustaining a steady annual growth rate of 3.4%. This growth is primarily fueled by the pervasive influence of automation trends, driving the industry to unprecedented levels of success.
A significant contributing factor to the market’s evolution is the increasing demand for oil-free screw air compressors, which is causing a transformative shift profoundly impacting the market’s trajectory. The rising preference for oil-free variants is attributed to industries’ heightened emphasis on seamless and contamination-free operations. Recognized as the preferred choice, these compressors offer a reliable and efficient solution, effectively addressing challenges associated with oil contamination in critical applications.
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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 2.7% CAGR through 2034.
- China will dominate the East Asia screw compressor market, with demand growing at a 4.0 % CAGR over the forecast period.
- India will emerge as a lucrative pocket, with sales projected to increase at a 3.7% 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
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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