Market Trends of Screw Compressors Industry
This section covers the major market trends shaping the Screw Compressors Market according to our research experts:
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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Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to dominate the screw compressors market and to grow at fastest rate over the forecast period.
- During 2018, the steel production in Asia-Pacific region increased drastically reaching highest in the decade. China is the biggest producer and consumer of the steel, globally.
- China has been planning to increase the quantity of nitrogen for use in oil recovery activities, which is expected to increase the demand for industrial gases. Similarly, the growth of the solar industry has supplemented the demand for argon in the country and the growth in other industrial activities has supplemented the demand for high-purity industrial gases, such as nitrogen, argon, and oxygen, which, in turn, is expected to increase demand for air separation units with compressor units, suited for handling dry and combustible gases, and are leak-proof, such as screw compressor.
- India has emerged as one of the most attractive investment destinations globally, owing to government's initiatives such as 'Make in India', to fuel the manufacturing activities in the country.
- Therefore, with growing end-user industries in the region the demand for screw compressors used in these industries is expected to increase over the forecast period in the region.
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