Screw Compressor Market Size, Share, Growth Analysis, By Types(Oil-free and Oil-injected), By Number of Stages(Single-stage and Multi-stage Compressor), By Technology(Stationary and Portable), By Applications(Rotary/Screw Compressor, Reciprocating Air Compressors) - Industry Forecast 2024-2031

Drivers

• Increasing Demand for Energy Efficient Compressors

Increasing demand for energy-saving compressors is driving the market CAGR for the screw compressors market. With the growth in industries like pharmaceutical, F&B and textile industry, the demand for screw compressors is increasing due to energy efficient compressors. It has two helical rotors used in compressing outside air to pressure a contained, ensuring clean, dry and compressed air. Its demand has increased in industries such as chemical and petrochemical processing, metal and mining, food and beverage, automotive, power plants and oil and gas, where high-pressure gasses are required, especially mechanical equipment.

• Technological Advancements

Chinese industry is increasingly demanding screw compressors due to the combination of digitalization and Internet of Things (IoT) technologies, enabling smart screw compressors with features such as remote monitoring, predictive maintenance and optimization capabilities. Environmentally friendly screw compressor design solutions that comply with environmental regulations in China are due to an emphasis on energy efficiency and sustainability. China is becoming an aggressive consumer based on continuous improvements in product performance, reliability and longevity through field testing, consumer investment and sustainable quality assurance methods.

Restraints

• High Start-up Costs

The major market restraint in the global screw compressor market is the willingness of people to adopt new technologies. Other potential barriers to growth include high start-up costs, the need for skilled labor, and the need to maintain quality.

• Operating and Maintenance Costs

While screw compressors are known for their efficiency, there can be ongoing operating and maintenance costs. Some companies find it difficult to allocate routine maintenance, leading to potential operational issues and increased overall costs.

• Technical Challenges:

The complexity of screw compressor technology can be a challenge for some end users. Installation and maintenance of these systems may require specialized knowledge and skilled personnel. This can be a barrier for companies that lack the expertise or resources to effectively manage technology.