Global Screw Compressor Market: Snapshot
With the augmenting demand for energy-effective screw compressors, the growth prospects in the global screw compressor market have increased significantly. The key factor behind this demand is the rising need for energy-efficient measures among consumers. Apart from this, the surge in the efforts from end users, such as the chemicals, petrochemicals, manufacturing, and the metallurgy and mining sectors, to improve the energy efficiency, is also projected to support this market substantially in the years to come.
The shift in the trend from existing compressors to the modern technology-enabled screw compressors is another important factor, from which, the market is likely to gain considerably over the forthcoming years. However, the high power consumption, owing to the fast movement of the compressor, may limit its adoption among end user in the near future. It also creates a large amount of debris due to its high speed operation, which again, may create complexities in the growth of this market over the next few years.
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Screw compressors are basically gas compressors, however, equipped with two helical screws, which are called the rotors and their main function is to compress the air. These screws run continuously in order to avoid any sudden change in the flow as against the piston compressors.
Global Screw Compressor Market: Overview
The global market for screw compressor is predicted to expand impressively in the years to come on account of the presence of global, regional, and local players competing with each other on the basis of product differentiation. No wonder then, vendors expend a lot of energy on product innovations to expand their outreach and increase the customer pool.
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Raw materials used to manufacture screw compressors are castings, aluminium, and steel. The components include bearings, crankshafts, switches, gauges, rotors, and housings. These components are then assembled by the original equipment manufacturers (OEM) to form the final product of screw compressors. Leading end use segments of the screw compressor market are oil and gas, automotive, chemicals, mining and metals, power plants, and petrochemicals, among others.
A report by TMR Research conveys in-depth and accurate information on the global market for screw compressor. It describes the scope of the market, segments it depending upon various parameters, and forecasts its growth trajectory. It furnishes a qualitative analysis of the prominent growth drivers and restraints in the market. The report also profiles important players in the market and analyses their strategies and market shares. Further, it leverages market leading analytical tools to gauge the current competitive dynamics.
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Global Screw Compressor Market: Trends and Opportunities
Screw compressor is essentially a gas compressor that works on the mechanism of a rotary type positive displacement. Screw compressors steal a march over other compressors by delivering high quality compressed air. Besides, they have reduced maintenance and operational costs. The aforementioned factors has led to the swift uptake of screw compressors. Another factor slated to drive growth in the market in the years ahead is the rising demand for energy-efficient screw compressors on account of the increasing concern among end-users about the need for energy-efficiency measures.
Depending upon type, the global screw compressor market can be classified into oil-injected compressor and oil-free compressor. A recent noticeable trend is the oil-injected compressors segment outshining the oil-free compressor segment in terms of market share.
There is a growing demand for screw compressor in end-use industries such as mining and metals, automotive, and chemicals and petro chemicals industries. The segment that is generating maximum demand, however, is manufacturing. Fast-expanding developing economies such as India and the European Union too is driving growth in the global market.
Global Screw Compressor Market: Regional Outlook
Geographically, the key segments of the global screw compressor market are Asia Pacific, North America, Europe, and the Rest of the World. Among them, Europe is one of the key regions on account of the substantial demand generated from industries such as automotive, petrochemical, and chemical. Going forward, however, Asia-Pacific is predicted to expand at maximum pace due to the rapid industrialisation in the region. China is forecasted to be one of the dominant markets in the region on account of the massive urbanization and industrialization in the nation. India is another key market in Asia Pacific. Sensing opportunity in the emerging Asia Pacific economies, savvy players are leveraging different strategies to penetrate them and thereby improve their standing in the global market.
Companies Mentioned in the Report
To present a detailed analysis of the competition prevailing in the global market for screw compressor, the report profiles companies such as Atlas Copco AB, Ingersoll Rand PLC, GE Oil & Gas, Gardner Denver, Inc., and Siemens AG.