Screw compressor market to grow almost 9% annually to 2020
Pune, India – Screw compressors are used in diverse range of end-use industries such as chemicals and petrochemicals, oil and gas, mining and metals, power plants, automotive, and food and beverages, among others. These industries use oil-free or oil-injected types of screw compressors for variety of applications.
In addition, an increase in industrial activities in countries such as China, India, Mexico, Saudi Arabia, and the US acts as a major driver of the screw compressor market.
As a result, the worldwide screw compressor market is expected to grow to a value of US$11.5 billion by 2020. This represents a compound annual growth rate of 8.7% from 2015 to 2020.
Asia-Pacific is the largest screw compressor market. The region accounted for around 35% of the total market share in 2014. Market growth has scaled up due to a rise in industrial activities, standardizations on the usage of energy-efficient screw compressors, and the advantages of screw compressors over other types.
Oil-injected screw compressors capture the major market, and find applications in chemicals and petrochemicals production, mining and metals, oil and gas, and automotive.
The report, ‘Screw Compressor Market by Type (Oil-Free, Oil-Injected), Stage (Single, Multi), Technology (Stationary, Portable), End-User (Chemical and Petrochemical, Food and Beverage, Mining and Metals, Oil and Gas, Automotive, Power Plant), and Region – Global Forecast to 2020’, defines, segments, analyzes, and forecasts the global screw compressor market. It is available from www.marketsandmarkets.com.