Screw Compressor Market Size Projected to Reach USD 16771.21 million by 2030, at a 5.7% CAGR

Screw Compressor Market Growth Boost by Rising High Invest In Power Grid Infrastructure, Technology Advancements and High Demand of Energy-Efficient Compressors

New York, US, May 31, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), "Screw Compressor Market Research Report Information by Technology, Region, Type, Stage, and End-User - Forecast Till 2030", the Screw Compressor Market is predicted to grow substantially over the assessment timeframe from 2022 to 2030 at a healthy CAGR of around 5.7%. The reports even share predictions regarding the market's growing revenue share, which is likely to attain a market of USD 16771.21 Million by the end of 2030.

Screw Compressor Market Overview:

The global Screw compressors industry has advanced enormously in recent years. The primary aspect causing a surge in the performance of the market is the delivery of constant air for a long period. Furthermore, the adjustable pressure through cognitive electronics coupled with increasing efficiency is also considered one of the crucial parameters enhancing the market performance over the review timeframe.

Competitive Analysis

The catalog of the top leaders across the global Market for Screw compressors includes players such as:

Hitachi ltd

Bauer Kompressoren

Siemens

Kaeser Kompressoren SE

Among others.

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Screw Compressor Market COVID-19 Impact

The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Screw compressors industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era.

Report Scope:

Report Metrics

Details

Market Size 2030

2030: USD 16.77 Billion

CAGR during 2022-2030

5.7% CAGR

Base Year

2021

Forecast

2022-2030

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Type, Technology, Stage, End-User

Key Market Opportunities

Easy to increase its efficiency and so can save fuel

Key Market Drivers

energy-efficient low operation and maintenance costs constant air supply

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Screw Compressor Market USP Covered

Market Drivers

In recent years, the global Screw compressors industry has displayed enormous advancement. The primary aspect causing a surge in the performance of the market is the delivery of constant air for a long period. Furthermore, the adjustable pressure through cognitive electronics coupled with increasing efficiency is also considered one of the crucial parameters enhancing the market performance over the review timeframe.

Market Restraints

However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked. Furthermore, the reluctance the customers show to adopt new technology is also considered to be one of the restricting aspects of the market. Moreover, the major challenge faced by the market is the proper quality measures, the requirement of skilled labor, infancy cost, leakages, and excess airflow.

Screw Compressor Market Segment Analysis

Among all the end-use sectors, the power industry is predicted to secure the leading position across the global market for screw compressors over the assessment period. China's economic development has grown rapidly in the past few years, and energy consumption across the region has kept growing. The latest wind power construction has been utilized, coal-fired power generation and hydropower are getting more and more ample electricity supply is essential in several areas of application is getting more and more power plants to guarantee the stable and reliable electricity plays a crucial part.

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Among all the types, the Oil Injected Screw Compressors segment is predicted to secure the leading position across the global market for screw compressors over the assessment period. It has been discovered that many end-users from various domains are using oil-injected Screw Compressor as it reduces oil and gas consumption compared to their counterparts. It is the reason causing a surge in the oil and gas sector demand. Oil injection technology removes the main reason for oil misting, which appears during turbocharging or compressing air through any compressor.

Screw Compressor Market Regional Analysis

The global market for screw compressors is analyzed across five major parts: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.

The research documents by MRFR indicate that the Asia-Pacific Region carried the top position across the global Screw compressors industry in 2021. The region has France, Germany, and the U.K. as the leading development contributors. Further, the China Screw Compressor Market held the largest market share, and India was the fastest-growing market in the Asia-Pacific Region. The main aspect supporting regional market expansion is the presence of several established players investing in marketing strategies. Furthermore, the manufacturing and construction sectors across the emerging economies in the region are also believed to be one of the vital aspects causing a surge in the regional market performance.

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The North American regional Screw compressor market is predicted to experience significant development over the assessment era. The region has Canada and the U.S. as the leading development contributors. The main aspect supporting the regional market's development is the growing awareness regarding air and noise pollution across the region.

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