Looking forward, IMARC Group expects the global screw compressor market to grow at a CAGR of around 5% during the forecast period (2021-2026).
SHERIDAN, WYOMING, UNITED STATES, October 19, 2021 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Screw Compressor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global screw compressor market is expected to exhibit moderate growth during 2021-2026. Screw compressor is a mechanical device that compresses air, gases and liquids using a screw-type motion. It is usually used to provide compressed air to pneumatic pumps, jackhammers, industrial paint systems, sandblasting operations and riveting tools to ensure a continuous supply of compressed air with nominal fluctuations in the delivery pressure. Compared to the conventionally used piston compressors, screw compressors can be utilized for high-power tools and heavy industrial applications without the requirement of high air pressure. As a result, these devices find extensive application across various industries, including chemical, petrochemical, metal, mining, automotive, oil and gas, etc.
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Rapid industrialization across the globe is primarily driving the growth of the market. Furthermore, the escalating demand for natural gas is also providing a thrust to the market growth. Screw compressors are widely used for transferring gas, vapor recovery, and flare elimination and can also operate under extreme climatic conditions, thereby requiring nominal maintenance and operational costs. Various technological advancements, such as the introduction of energy-efficient and environment-friendly product variants, are acting as another major growth-inducing factor. Numerous other factors, including an increasing product adoption by the food and beverage packaging sector, along with the extensive R&D activities, are projected to further drive the market in the coming years. Looking forward, IMARC Group expects the global screw compressor market to grow at a CAGR of around 5% during the forecast period (2021-2026).
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
GE Oil & Gas
Howden Group Ltd.
Kaeser Kompressoren SE
Kobe Steel Ltd.
Breakup by Type:
Oil-Injected Screw Compressors
Oil-Free Screw Compressors
Breakup by Technology:
Stationary Screw Compressors
Portable Screw Compressors
Breakup by Stage:
Single-Stage Screw Compressors
Multi-Stage Screw Compressors
Breakup by End-Use Industry:
Oil and Gas
Chemicals and Petrochemicals
Food and Beverage
Mining and Metals
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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Source: EIN Presswire