Pune, India -- (SBWire) -- 12/14/2018 --Overview:
Manufacturing units across the world are looking for equipment that are advantageous in several aspects and incur low maintenance and operational cost. Screw compressors can surely boast of this unique trait. It has made screw compressors a favorite with end-users. Sectors such as mining & metals, automotive, and chemical & petrochemical are generating significant demands for the component and are drivers that have been covered by the report published on the global screw compressor market by Market Research Future (MRFR). The extensive study predicts a remarkable CAGR of 7.5% during the forecast period (2018-2023). When compared with the traditional ones, these screw compressors are simple in design, more efficient and cost-effective. Furthermore, its oil-free variants are gaining traction in medical industry and semiconductor manufacturing industry. Appliances such as outdoor utility point, regulators, refrigerators, spares, heaters, and dehumidifiers do need the competent use of screw compressors which can take the market further ahead.
However, the wheel of the machine requires a dexterous operator finding whom is often a problem. In addition, lack of proper maintenance can leave the device vulnerable. These, for sure, can hamper the expected market growth.
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Global Competitive Analysis
The segment's considerable transformation due to the prompt growth pace has led to experimentation with many plus points. The competitors in the industry are trying to increase their market share to a considerable size by the effectual employment of their major resources to start growth transformations which can be long lasting. This outlook has permitted the viable implementation of trends which are linked to development and are visibly volume driven. This has led to a boost in diverse ranges and product forms. The industry's long term growth can be utilized upon by continuous ongoing process improvements and sustaining financial fluidity to spend in the best strategies when they are available.
The significant players of screw compressor include Ingersoll Rand PLC, Atlas Copco, Boge Kompressoren, Howden Group Ltd., GE Oil & Gas, Gardner Denver Inc., Kobe Steel Ltd., MAN Diesel & Turbo and Sullair LLC to name a few.
Segmentation:
Screw compressors market can be segmented by type, stage, technology, and end-use.
By type, the market includes oil-free compressors and oil-injected compressors. High durability, system lubrication, and heavy-duty applications have made oil-injected compressors market favorite.
Stage-wise segmentation comprises single stage and multi-stage. Multi-stage screw compressors offer cooling at different levels which is why they are holding the largest share of the global market.
Technology-based segmentation includes portable and stationary. Portables are generating the maximum share as they are enjoying considerable demand from industries with short-term projects.
Based on end-use, the market can be segmented into metal & mining, chemicals & petrochemicals, food & beverage, oil& gas, and power plants. Oil & gas segment has the maximum share of the market.
Regional Analysis:
Geographically, the global screw compressor market can be segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The infrastructural superiority of the North American region gives an extra edge to end-user industries, such as oil & gas, power generation, chemical, and petrochemical which in turn is boosting the screw compressor market growth. Increasing investment in the natural gas-operated power plants can also be considered as a driving factor. The APAC region is expected to dominate the market with emerging economies giving the market substantial support. Countries such as India, China, Indonesia, and South Korea are playing prominent roles in inviting in new industries and increasing manufacturing which in turn is giving rise to the screw compressor market.
The Middle East is projecting a huge market for screw compressors as the region is creating heavy demand for the product owing to its various cooling projects. On the other hand, Africa is experiencing a substantial growth in oil & gas activities which increases penetration possibility for screw compressors market.
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Industry Trend:
Ingersoll Rand's next generation R-Series rotary screw compressors are energy-efficient and can cut down the energy consumption by 13%, and performs even better with variable speed drive options.
Vert Rotors recently launched Nautilus, a portable air compressor using a conical screw compressor where the inner screw works inside of the outer screw instead of working side-by-side.
Screw Compressor Market Research, Competitor Strategy, Industry Trends, Forecast to 2023