The global screw compressor market is projected to grow at a CAGR of 6.62% from 2016 to 2021, to reach a market size of USD 11.01 Billion by 2021. This growth is attributed to increasing demand of energy-efficient screw compressors and low maintenance and operation costs.
The report segments the screw compressor market on the basis of stage into single-stage and multi-stage. The single-stage segment is projected to dominate the screw compressor market during the forecast period.
The screw compressor market is segmented based on technology into stationary and portable. Stationary segment accounted for largest market size in 2015 and is expected to grow at the fastest growth rate from 2016 to 2021. Stationary screw compressors are used by diverse range of industries such as food & beverage, automotive, chemicals & petrochemicals, textile, pharmaceuticals, electronics, and so on.
The report segments the screw compressor market on the basis of type into oil-injected and oil-free. The oil-injected segment accounted for the largest market share in 2015. Oil-injected screw compressors range used in industries such as road side construction, mining & processing plants, and automobiles to reduce costly downtime and production delays. Oil-free screw compressors are expected to grow at the fastest rate during the forecast period, owing to requirement of clean and oil-free air by food & beverage, electronics, textile, and pharmaceutical industries. This segment is expected to create new revenue pockets for the screw compressor market during the forecast period.
The screw compressor market is segmented based on end-user into oil & gas, chemicals & petrochemicals, food & beverage, automotive, power plants, mining and metals, and others. Others include pharmaceuticals, construction, textile, and electronics. The oil & gas sub-segment accounted for the largest market share in 2015. Screw compressors are used for onshore and offshore applications, ranging from vapor recovery and gas handling to flash gas processing and fuel gas boosting. The food & beverage sub-segment is expected to grow at the highest CAGR during the forecast period, owing to increasing use of compressed air in food processing, cooling, and packaging applications.
In this report, the screw compressor market has been analyzed with respect to five regions, namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and Latin America. Asia-Pacific is projected to dominate the global screw compressor market by 2021 and is expected to grow at the highest CAGR from 2016 to 2021. This growth is attributed to increasing industrialization, rise in energy consumption, and presence of manufacturing facilities in the region. China, India, and Southeast Asian countries are driving the screw compressor market in the Asia-Pacific region.
Screw compressors are used to handle/compress a multitude of gas ranging from air to light hydrocarbons, nitrogen, ammonia, LNG, and so on. Decline in LNG import has been the maximum in countries such as Japan and South Korea, as nuclear power plants that were shut down in 2013 have resumed operations. Hence, weak LNG demand in these countries is expected to restrict the growth of the screw compressor market.
Leading players in the screw compressor market include Atlas Copco AB (Sweden), Ingersoll Rand PLC (Ireland), GE Oil & Gas (U.K.), Gardner Denver, Inc. (U.S.), and Siemens AG (Germany). New product development was the strategy most commonly adopted by top players in the market from 2012 to 2016. It was followed by contracts & agreements, mergers & acquisitions, and expansions.
The years considered for the study are as follows:
- Historical Year – 2014
- Base Year – 2015
- Estimated Year – 2016
- Projected Year – 2021
- Forecast Period – 2016 to 2021
2015 has been considered as the base year for company profiles. Whenever information was unavailable for the base year, the prior year has been considered.
Objectives of the Study
- To define, describe, and forecast the global screw compressor market by type, stage, technology, end-user, and region
- To provide detailed information regarding major factors influencing the growth of the screw compressor market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the screw compressor market with respect to individual growth trends, future prospects, and contribution of each segment to the market
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, and mergers & acquisitions, in the screw compressor market
Research Methodology
This research study involved the use of extensive secondary sources, directories, and databases such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global screw compressor market. Primary sources are mainly industry experts from core and related industries, preferred suppliers, manufacturers, distributors, service providers, technology developers, standard and certification organizations of companies, and organizations related to all the segments of this industry’s value chain. The points given below explain the research methodology.
- Study of annual revenue and market developments of major players that provide screw compressors
- Analysis of major applications of and demand for screw compressors for end-users
- Assessment of future trends and growth of screw compressor market on the basis of single and multi-stage screw compressors
- Assessment of the screw compressor market with respect to the type of screw compressor methods used for different applications
- Study of market trends in various regions/countries supported by various types of screw compressor methods used for various applications
- Study of contracts and developments related to the screw compressor market by key players across different regions
- Finalization of overall market sizes by triangulating the supply-side data, which includes product developments, supply chain, and annual revenues of companies manufacturing screw compressors across the globe
After arriving at the overall market size, the total market has been split into several segments and subsegments. The figure given below illustrates the breakdown of primaries conducted during the research study on the basis of company type, designation, and region.
