Screw Compressor Market 2017 - Global Forecast to 2021: Market to Grow at CAGR of 6.62% to reach $11 Billion - Research and Markets
DUBLIN, Jan 26, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Screw Compressor Market by Type, Stage, Technology, End-User, & by Region - Global Forecast to 2021" report to their offering.
The global screw compressor market is projected to grow at a CAGR of 6.62% from 2016 to 2021, to reach a market size of USD 11.01 Billion by 2021. This growth is attributed to increasing demand of energy-efficient screw compressors and low maintenance and operation costs.
The report segments the screw compressor market on the basis of stage into single-stage and multi-stage. The single-stage segment is projected to dominate the screw compressor market during the forecast period.
The screw compressor market is segmented based on technology into stationary and portable. Stationary segment accounted for largest market size in 2015 and is expected to grow at the fastest growth rate from 2016 to 2021. Stationary screw compressors are used by diverse range of industries such as food & beverage, automotive, chemicals & petrochemicals, textile, pharmaceuticals, electronics, and so on.
The report segments the screw compressor market on the basis of type into oil-injected and oil-free. The oil-injected segment accounted for the largest market share in 2015. Oil-injected screw compressors range used in industries such as road side construction, mining & processing plants, and automobiles to reduce costly downtime and production delays. Oil-free screw compressors are expected to grow at the fastest rate during the forecast period, owing to requirement of clean and oil-free air by food & beverage, electronics, textile, and pharmaceutical industries. This segment is expected to create new revenue pockets for the screw compressor market during the forecast period.
The screw compressor market is segmented based on end-user into oil & gas, chemicals & petrochemicals, food & beverage, automotive, power plants, mining and metals, and others. Others include pharmaceuticals, construction, textile, and electronics. The oil & gas sub-segment accounted for the largest market share in 2015. Screw compressors are used for onshore and offshore applications, ranging from vapor recovery and gas handling to flash gas processing and fuel gas boosting. The food & beverage sub-segment is expected to grow at the highest CAGR during the forecast period, owing to increasing use of compressed air in food processing, cooling, and packaging applications.
Leading players in the screw compressor market include Atlas Copco AB (Sweden), Ingersoll Rand PLC (Ireland), GE Oil & Gas (U.K.), Gardner Denver, Inc. (U.S.), and Siemens AG (Germany). New product development was the strategy most commonly adopted by top players in the market from 2012 to 2016. It was followed by contracts & agreements, mergers & acquisitions, and expansions.
Market Dynamics
Drivers
- Increasing Demand for Energy-Efficient Compressors
- Low Maintenance & Operation Costs
- Rise in Energy Consumption
Restraints
- Declining LNG Imports in Japan & South Korea
Opportunities
- Growing Demand for Environment-Friendly Screw Compressors
- Industrialization in Emerging Economies Would Increase the Demand for Screw Compressors
Challenges
- Adherence to Strict Quality Standards
12 Company Profiles
- Atlas Copco AB
- Bauer Kompressoren
- Boge Kompressoren
- GE Oil & Gas
- Gardner Denver, Inc.
- Hitachi Ltd.
- Howden Group Ltd.
- Ingersoll-Rand PLC
- Kaeser Kompressoren SE
- Kobe Steel Ltd.
- Man SE
- Siemens AG
- Sullair LLC
For more information about this report visit http://www.researchandmarkets.com/research/vb4jnq/screw_compressor
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