Screw Compressors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The screw compressors market is expected to grow at a CAGR of around 5.09% during the period of 2020-2025. the global refining capacity accounted for 101.340 million barrels per day in 2019, with an increase of 1.5%, as compared to the previous year. Looking ahead, higher global capacity is slated to be added in the near term, which may lead the capacity to continue to outpace the demand growth. Thus, the increasing investments in infrastructure in the refinery and petrochemical sectors are expected to increase the demand for screw compressors. However, the increase in the usage of renewables is likely to restrain the growth of the market during the forecast period, owing to the decrease in the demand for coal and natural gas for power generation.

• Single-Stage screw compressors are estimated to have maximum share of the screw compressors market, in 2018, due to its diverse range of applications in industries such as oil and gas, manufacturing, etc.
• Manufacturers are now making strides to become more energy-efficient, amidst rising end-user demands and changing energy efficiency standards, in several nations. If the manufacturers manage to increase the efficiency of screw compressors to a significant level, it is expected to create ample opportunity for the market in the future.
• The Asia-Pacific region is among the fastest-growing regions, and it is likely to drive the overall global consumption. The increase in the demand for natural gas is likely to foster the demand for screw compressors for use in the production and supply of gas.

Scope of the Report

The screw compressors market report include:

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Key Market Trends

Single-Stage Screw Compressors to Dominate the Market

• Single-stage screw compressors use a single stage to compress the gas, between the inlet valve and the tool nozzle. First, the air is sucked in, the gas is compressed one time using the rotors and then compressed gas or air is moved onward to a storage tank.​
• They are primarily oil-injected screw compressors, delivering a pressure of around 100–125 pounds per square inch gauge (psig) in a single stage of compression, while there is also a small share of the single-stage oil-free screw compressor, but they are mainly used for achieving compressions of small amounts of gas or air and in lower ratios.
• The market for single-stage screw compressor has seen a steady increase in recent years, mainly supported by the rise of industrial activities, especially the micro, medium, and small enterprises (MSME).​
• Some examples of single-stage screw compressors are Hitachi's DSP NEXT2 Series and Ingersoll Rand's SS Series, among others.​
• Although the impact of the COVID-19 outbreak has been very significant of the majority of the MSMEs in the manufacturing sector, due to reduced activities caused by lockdown and social distancing measures and decrease in local and global demand due to economic slowdown.​
• The impact of COVID-19 outbreak on the single-stage screw compressor is expected to be long-lasting, and it is expected to revive once the industrial activities are at pre-COVID-19 levels. This scenario is expected to arrive toward the end of the forecast period, by which time the easy availability of a vaccine or kick-in of herd immunity is expected.

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