Market Size of Screw Compressors Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.09 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Screw Compressors Market Analysis
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.
