Demand for energy effective screw compressors is on an upward rise, leading to a rosy outlook for global screw compressor market. Demand for energy efficient screws and rising efforts from end users is helping the market grow. The end-users include mining, metallurgy, chemicals, petrochemicals, automotive and manufacturing. As these markets expand, so would the global screw compressor market.
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There are also factors like features of screw compressors that are boosting uptake. Some of the beneficial ones, adding to its popularity include low operational cost, and low maintenance cost. Besides, as energy efficiency gains centre stage thanks to environment concerns, demand for energy efficient screw compressors sees and upward rise.
As per a study by Transparency Market Research, the oil compressor segment will outshine others and in terms of end-use industries, manufacturing will outshine all others. Economies such as India and regions like Europe are expanding fast and this again is a contributor to growth of global screw compressor market. It is also worth noting here that European region will see growth in the market owing to rising demand from chemical, automotive and petrochemical. And, that Asia Pacific will owe its growth story to industrialization.
The move to modern technology enabled screw compressors from the traditional variants is also playing a significant role here. The only thing hampering the market from reaching its full potential is the high power consumption led by rapid compressor movement. Besides, the amount of debris created is a dampener.
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But owing to the presence of global, regional and local players, the market will expand at an impressive pace because these players are playing it tough on the differentiation front. Besides, they are also focused on innovation in order to maintain a competitive edge by building a broader customer pool. And, marketing activities also play a role where outreach is facilitated via multiple channels.