Screw Compressor Market to Reach $18.9 billion, Globally, by 2032 at 5.8% CAGR: Allied Market Research

"The screw compressor market is experiencing robust growth driven by increase in global energy demand, technological innovations in separation processes, and a surge in exploration and production activities. Stringent environmental regulations and the need for efficient resource extraction further propel the demand for advanced separators, positioning the market as a pivotal player in the oil and gas industry's sustainable development."

WILMINGTON, Del., Dec. 14, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Screw Compressor Market By Type (Oil Free and Oil Injected), Stage (Single Stage and Multistage), Technology (Portable and Stationary), and End User (Oil And Gas, Food And Beverages, Energy and Power, Chemicals and Petrochemicals, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global screw compressor market was valued at $10.8 billion in 2022 and is projected to reach $18.9 billion by 2032, growing at a CAGR of 5.8% from 2023 to 2032.

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Prime determinants of growth

The escalating energy demand, coupled with the continuous expansion of industrial operations, fuels the growth of the screw compressor market. In addition, stringent environmental regulations and the ongoing exploration activities in the oil and gas sectors serve as catalysts propelling innovation and widespread adoption within this market segment. However, the intricacies associated with high-cost technical advancements and the prevalent market consolidation can hamper its development.

Nevertheless, the imminent need for infrastructure enhancements across various industries presents substantial opportunities for the expansion of the screw compressor market. As industries strive for increased efficiency and eco-friendly solutions, the screw compressor market stands poised to benefit from these evolving demands, paving the way for further advancements and market growth

Report coverage & details:

Impact Scenario

• The Israel-Hamas conflict, characterized by periodic bouts of violence and tensions, has the potential to impact the screw compressor market, particularly in the broader Middle East region.
• The uncertainty and geopolitical instability associated with the conflict lead to disruptions in industrial activities, affecting the demand for screw compressors.
• Industries in the affected areas, such as manufacturing, construction, and infrastructure, experience delays or setbacks, influencing investment in machinery and equipment, including compressors to fall back for further development.
• In addition, the conflict's broader economic ramifications contribute to a cautious business environment, potentially affecting the decision-making process for industrial investments, which, in turn, have implications for the screw compressor market in the region.
• The ongoing conflict between Russia and Ukraine had significant implications on the global markets, and the screw compressor industry is no exception.
• Given the importance of both countries in the manufacturing and industrial sectors, disruptions in the supply chain of key components have a significant impact on the screw compressors market.
• Fluctuations in energy prices, particularly affecting the cost of electricity and gas, influence operational costs for industrial users of compressors in various sectors.
• Furthermore, geopolitical tensions lead to broader economic uncertainties, impacting investment decisions and potentially slowing down industrial activities in the affected regions.
• The war's spillover effects on international trade and economic stability challenges and uncertainties reverberate through the screw compressor market, requiring stakeholders to closely monitor geopolitical developments for strategic planning and risk management.

The oil injected segment to maintain its leadership status throughout the forecast period

Based on type, the oil injected segment held the highest market share in 2022, accounting for nearly three-fourths of the global screw compressor market revenue, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the oil free segment is projected to manifest a CAGR of 6.2% from 2023 to 2032. The market for oil-free screw compressors is witnessing substantial growth driven by several key trends and factors. Heightened environmental concerns and tightening regulations have spurred industries to seek eco-friendly solutions, aligning perfectly with oil-free compressors that eliminate the risk of oil contamination in compressed air. This demand is further amplified in sensitive sectors like pharmaceuticals, food and beverage, electronics, and healthcare, where the necessity for entirely oil-free compressed air to prevent contamination is critical.

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The multistage segment to maintain its leadership status throughout the forecast period

Based on stage, the multi-stage segment held the highest market share in 2022, accounting for nearly two-thirds of the global screw compressor market revenue, and is estimated to maintain its leadership status throughout the forecast period. Moreover, single stage segment is projected to manifest a CAGR of 6.2% from 2023 to 2032. Integration of smart technologies is transforming the landscape through remote monitoring, predictive maintenance, and automation, optimizing performance, and minimizing downtime. Environmental sustainability remains paramount, with a focus on eco-friendly designs such as oil-free operation and the use of environment-friendly refrigerants where applicable. Customization for industry-specific applications is on the rise, meeting diverse needs in manufacturing, petrochemicals, pharmaceuticals, and others.

The stationary segment to maintain its leadership status throughout the forecast period

Based on the technology, the stationary segment held the highest market share in 2022, accounting for more than two-thirds of the global screw compressor market revenue, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the portable segment is projected to manifest a CAGR of 5.9% from 2023 to 2032. The portable screw compressor market is experiencing robust growth driven by diverse factors and evolving industry demands. With industries such as construction, mining, and oil and gas seeking greater mobility, the need for portable equipment remains high. Technological strides in compressor design, prioritizing efficiency, and reduced emissions, are reshaping market preferences. In addition, the escalating emphasis on energy efficiency aligns with a global push for sustainable practices, amplifying the demand for eco-friendly compressors. As infrastructure projects worldwide and industries expand, the continuous necessity for compressed air propels the market forward.

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The oil and gas segment to maintain its leadership status throughout the forecast period

Based on the end user, oil and gas held the highest market share in 2022, accounting for more than two-fifths of the global screw compressor market revenue, and are estimated to maintain their leadership status throughout the forecast period. In addition, the others segment is projected to manifest a CAGR of 6.7% from 2023 to 2032. The pharmaceutical industry's pursuit of precision and quality in manufacturing fuels a growing need for reliable and efficient screw compressors. Innovations like oil-free designs and energy-efficient technology align with the industry's push for cleanliness and sustainability, creating opportunities for compressor manufacturers. Moreover, stringent regulations on air quality and product safety further drive the demand for compliant compressor solutions. In the automotive sector, screw compressors play a pivotal role in air conditioning systems and engine boosting. Manufacturers focused on lightweight, efficient designs and leveraging advanced materials, are well-positioned to meet the automotive industry's quest for enhanced fuel efficiency and reduced emissions while ensuring durability and high performance in compressor applications. 

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global screw compressor market revenue, and is likely to dominate the market during the forecast period. In addition, the Asia-Pacific region is expected to witness the fastest CAGR of 6.1% from 2023 to 2032. The screw compressor industry in the Asia-Pacific region is experiencing a dynamic shift driven by several key trends and growth factors. Rapid industrialization in powerhouse economies such as China and India is propelling demand across diverse sectors such as manufacturing, oil & gas, petrochemicals, and automotive, while an increase in emphasis on energy efficiency aligns with the region's sustainability goals, is favoring screw compressors for their higher efficiency. Technological advancements, including digitalization and predictive maintenance, are enhancing performance, and attracting users seeking innovative solutions. Mergers and partnerships among industry leaders are reshaping the competitive landscape.

Leading Market Players: -

• Atlas Copco AB
• Kobelco
• Ingersoll Rand
• Keser Kompressoren SE
• Gardner Denver
• Sullair
• Bge Kompressoren
• Elgi Equipment Limited
• Quincy Compressor
• Bauer Kompressoren Gmbh.

The Report Provides A Detailed Analysis Of These Key Players In The Global Screw Compressor Market. These Players Have Adopted Different Strategies Such As New Product Launches, Collaborations, Expansion, Joint Ventures, Agreements, And Others To Increase Their Market Share And Maintain Dominant Shares In Different Regions. The Report Is Valuable In Highlighting Business Performance, Operating Segments, Product Portfolio, And Strategic moves of market players to highlight the competitive scenario.

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