Screw Compressor Market Size (2023-2028):

The Global Screw Compressor Market was worth US$ 11.54 billion in 2022 and is anticipated to reach a valuation of US$ 16.74 billion by 2028 and is predicted to register a CAGR of 6.3% during 2023-2028.

A screw compressor is a type of compressor that compresses gas or air using two interlocking helical rotors or screws. The screws rotate in opposite directions and draw gas or air into the compressor, where it is compressed and forced out. Screw compressors are used in various applications such as refrigeration and air conditioning, natural gas processing, pneumatic conveying systems, and industrial gas turbines. They are highly efficient, require low maintenance, and can handle large volumes of gas or air at high pressure.

Market Drivers:

The screw compressor market is experiencing significant growth due to the rising demand for these compressors from industries such as oil and gas, chemicals, petrochemicals, and power generation. These industries require reliable and efficient compressors for various applications such as gas processing, refrigeration, and air compression. Screw compressors are preferred due to their energy efficiency, low maintenance requirements, and ability to handle large gas or air volumes. As industries continue to expand and modernize, the demand for screw compressors is expected to continue to grow in the future.

Screw compressors are gaining popularity in various industries due to their high energy efficiency compared to other compressors. This is due to their unique design, which reduces energy consumption while maintaining a high compression ratio. Industries such as manufacturing, healthcare, and food processing are increasingly adopting screw compressors to save energy costs and reduce carbon emissions. With the rising awareness of the benefits of energy-efficient technology, the screw compressor market is expected to grow in the coming years.

Screw compressors are becoming popular in various industries due to their low maintenance requirements and longer operational life compared to other compressors. This makes them a preferred choice for industries that require reliable and efficient compressors for continuous operations. Additionally, the high durability of screw compressors reduces the need for frequent repairs, resulting in lower operating costs. As a result, more industries are adopting screw compressors to improve their operations and reduce maintenance expenses. This is expected to drive the growth of the screw compressor market in the coming years.

Market Restraints:

The noise generated by screw compressors during operation can be challenging for industries with noise restrictions or requiring a quieter working environment. While noise reduction measures can be implemented, such as installing soundproofing materials or using quieter compressor models, these solutions can add to the overall cost of operation. As a result, industries that prioritize noise reduction may be hesitant to adopt screw compressors, which could limit the growth of the screw compressor market in certain sectors.

The issue of oil carryover in screw compressors is a significant market restraint, particularly for industries with strict air quality standards. It can contaminate the compressed air, affecting the end product's quality and damaging sensitive equipment. Manufacturers have introduced various measures to minimize oil carryover, but it remains a key challenge.

Market Opportunities: 

The integration of screw compressors with Industry 4.0 technologies presents exciting opportunities for manufacturers to gain a competitive advantage. By developing smart screw compressors that can communicate with other machines in a plant, manufacturers can improve production efficiency and reduce downtime. IoT sensors and data analytics can enable predictive maintenance, reducing maintenance costs and increasing the lifespan of the compressor. As Industry 4.0 technologies continue to grow, opportunities for smart screw compressors are expected to increase, driving the growth of the screw compressor market.

As the world shifts towards sustainable energy sources like wind and solar power, there is a growing demand for screw compressors in the manufacturing of wind turbines and solar panels. Screw compressors are used to compress air and gas in the production of these technologies. With the increasing focus on reducing carbon emissions and the shift towards renewable energy sources, the demand for screw compressors in these industries is expected to increase, driving the growth of the screw compressor market. The trend toward sustainable energy sources presents a significant opportunity for screw compressor manufacturers to expand their customer base and increase their market share.

Impact of COVID-19 on the Screw Compressor Market:

The COVID-19 pandemic has caused significant disruptions in the screw compressor market, with reduced demand from key industries and disruptions in the global supply chain. As governments-imposed lockdowns and restrictions, manufacturing plants closed down, resulting in decreased demand for screw compressors. Moreover, the disruption in the global supply chain led to delays in the delivery of components and parts required for screw compressor production. However, the healthcare industry's demand for screw compressors remained strong as they are essential for medical equipment such as ventilators and oxygen concentrators. Looking ahead, as vaccines are rolled out and restrictions ease, industries are expected to resume operations, driving the demand for screw compressors. Moreover, the increasing demand for energy-efficient and sustainable technologies is expected to drive the growth of the screw compressor market in the long run.

SCREW COMPRESSOR MARKET REPORT COVERAGE:

Market Segmentation: 

Screw Compressor Market - By Type:

• Oil-injected
• Oil-Free

Oil-injected screw compressors are currently dominating the screw compressor market due to their versatility and efficiency in various industrial applications. These compressors use oil to lubricate and cool the moving parts, resulting in a longer lifespan and higher efficiency compared to other types of compressors. Additionally, oil-injected screw compressors offer a higher compression ratio and can handle a wider range of airflow rates, making them suitable for a variety of industries such as manufacturing, mining, and oil & gas.

Screw Compressor Market - By Stage Type:

• Single-stage 
• Multi-stage 

The single-stage screw compressor market segment is dominating the market because of its simplicity and lower cost compared to multi-stage screw compressors. Single-stage screw compressors are suitable for applications with lower pressure requirements, such as in the manufacturing of food and beverages or pharmaceuticals. They are also easier to maintain and operate compared to multi-stage compressors. Additionally, the increasing demand for energy-efficient and sustainable technologies has led to the development of more advanced single-stage screw compressors with higher efficiency ratings, further driving their dominance in the market.

Screw Compressor Market - By End-User Type:

• Manufacturing
• Healthcare
• Food and beverage 
• Oil and gas
• Power plants 
• Others

The manufacturing industry is dominating the market because it is one of the largest users of screw compressors, as they are used in a wide range of applications, such as powering pneumatic tools, supplying compressed air to production lines, and controlling the flow of gases in chemical processes. The demand for screw compressors in the manufacturing industry is driven by the need for reliable and energy-efficient compressed air systems to improve production efficiency and reduce costs.

Screw Compressor Market - By Region:

• North America
• Europe
• Asia-pacific
• Middle East and Africa
• Latin America

The Asia-Pacific region is dominating the screw compressor market due to the presence of major manufacturing hubs such as China, Japan, and South Korea. These countries have a significant demand for screw compressors in industries such as automotive, electronics, and chemicals. Additionally, the growing adoption of renewable energy technologies in countries like China and India is driving the demand for screw compressors in the wind and solar energy sectors. North America and Europe have a strong demand for screw compressors due to industries such as healthcare, food and beverage, and oil and gas. The Middle East and Africa are experiencing growing demand for screw compressors due to expansion in oil and gas and renewable energy sources. Latin America has a significant demand for screw compressors in industries such as mining, oil and gas, and manufacturing, but political and economic instability in some countries may hinder market growth.

Market Key Players:

1. Atlas Copco AB
2. Ingersoll Rand Inc.
3. Gardner Denver Holdings Inc.
4. Kaeser Kompressoren SE
5. BOGE Kompressoren Otto Boge GmbH & Co. KG
6. MAN Energy Solutions SE
7. Howden Group Ltd.
8. Mitsubishi Heavy Industries Ltd.
9. Hitachi Ltd.
10. Kobe Steel Ltd.

Market Key Developments: 

• In May 2021, Gardner Denver Holdings, Inc., a global provider of mission-critical flow control equipment, announced its acquisition of DV Systems Inc., a manufacturer of air compressors and related products, to expand its product portfolio and enhance its position in the screw compressor market.
• In July 2021, Ingersoll Rand Inc, a global provider of mission-critical flow control equipment, announced the launch of its new IQV20 Series W5133P 3/8" Cordless Impact Wrench, which features a brushless motor and advanced control technology for improved efficiency and performance in industrial applications.
• In September 2021, Kaeser Kompressoren, a global provider of compressed air systems and services, announced the launch of its new CSD/CSDX T rotary screw compressors, which feature advanced control technology and energy-efficient motors for reduced energy consumption and operating costs.