Screw Compressor Market To Witness Growth Owing To Rising Demand From Various Industrial Applications Till 2021 | Million Insights

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According to new report available with Million Insights, The global screw compressor market is segmented on the basis of type, stage, technology, end user, and region. Screw compressors are expected to grow at the fastest rate during the forecast period, due to requirement of clean and oil-free air by food & beverage, electronics, textile, and pharmaceutical industries.

The global screw compressor market is segmented on the basis of type, stage, technology, end user, and region. A screw compressor is a type of rotary compressor which compresses air due to screw compresses air due to screw action. The main advantage of using this compressor is that it can supply compressed air continuously with minimum fluctuation in delivery pressure. It is usually applied for low pressure applications.

Based on type, the screw compressor market is classified into oil-injected, and oil-free. The oil-injected compressors segment accounts for the largest market size of the global market, and is expected to continue dominancy over the forecast period. This is due to the developing applications across various industries, where the need for compressed air is high.

Oil-injected screw compressors range used in industries such as road side construction, mining & processing plants, and automobiles to decrease cost downtime and production delays. Oil-free screw compressors are expected to grow at the fastest rate during the forecast period, due to requirement of clean and oil-free air by food & beverage, electronics, textile, and pharmaceutical industries. This segment is estimated to make new income pockets for the screw compressor market size during the forecast period.

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Based on stage, the screw compressor market size is classified into single-stage, and multi-stage. The single stage segment dominates the global market size and expected to grow at the fastest pace during the forecast period. This is due to the rising demand for screw compressors in industries where process needs continuous high air quality in a shorter downtime. These compressors are more appropriate for industries such as petrochemicals, mining and oil & gas as they help in maintaining continuous and incessant operations.

Based on technology, the screw compressor market size is classified into stationary and portable. On the basis of end user, the global market size is classified into Oil & Gas, Chemicals & Petrochemicals, Food & Beverage, Automotive, Power Plants, Mining & Metals, Others. Others include pharmaceuticals, construction, textile, and electronics. The oil & gas segment accounted for the largest market share of screw compressor market. Screw compressor are used for onshore and offshore applications, oscillating from vapor recovery and gas handling to flash gas processing and fuel gas boosting.

The food & beverage segment is expected to grow at the highest CAGR over the forecast period. Due to increasing use of compressed air in food processing, cooling and packaging applications. The food and beverage end-users need to be 100% pure oil-free air for processing food. Therefore, oil-free screw compressors are used in this industry in order to maintain air quality standards. Geographically, the global market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

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Asia Pacific region accounts the largest market share of screw compressor industry and is expected to remain dominant over the forecast period. This is due to increasing industrialization and manufacturing facilities in the region. China is expected to lead the screw compressors market in the Asia Pacific region. Also, the countries such as China and Japan have implemented energy efficiency standards, thereby boosting the demand for screw compressors in Asia Pacific.

Middle East & Africa region is expected to grow at fastest pace in the forecast period. This is due to the increasing demand for screw compressor in the metal & mining and chemicals & petrochemical segment would drive the market growth in this region.

The global key players are Atlas Copco, Ingersoll Rand PLC, BogeKompressoren, Gardner Denver Inc., Howden Group Ltd., GE Oil & Gas, Kobe Steel Ltd., MAN Diesel & Turbo, Sullair LLC, Siemens AG, and Hitachi Ltd.

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/machinery-and-machine-parts

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