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“The screw compressor market is projected to grow at a CAGR of 6.62% from 2016 to 2021”
The screw compressor market is projected to reach USD 11.01 billion by 2021, growing at a CAGR of 6.62% from 2016 to 2021. Screw compressor systems are used to compress a multitude of gas ranging from air to light hydrocarbons, nitrogen, ammonia, and so on. Rise in energy consumption and increasing demand for energy-efficient compressors are expected to drive the screw compressor market. The declining LNG imports in Japan and South Korea is likely to hinder market growth of screw compressors.
“The oil-free segment is expected to grow at the highest CAGR from 2016 to 2021”
Based on type of screw compressor, the oil-free segment is estimated to be the fastest growing market from 2016 to 2021. These oil-free screw compressors are used in a wide range of production and service facilities to meet precise needs of pure, clean, and oil-free air. The major end-user applications demanding pure and oil-free air include food & beverage processing, electronics, textiles, and pharmaceutical production. Oil-free screw compressors eliminate the risks of oil contamination, ensuring consistent 100% oil-free compressed air, lowering operating and maintenance costs.
“Asia-Pacific: The largest market for screw compressor”
Asia-Pacific is currently the largest market for screw compressors, followed by the Middle East & Africa and Europe. The Asia-Pacific market is driven by increasing industrialization and rising energy consumption in the region. The market in the Asia-Pacific region is projected to grow at the fastest rate, with China expected to dominate the market. Also, the countries such as China and Japan have implemented energy efficiency standards, thereby boosting the demand for screw compressors in Asia-Pacific.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 55%, Tier 2- 26%, Tier 3- 19%
- By Designation: C-Level- 52%, D-Level- 27%, Others- 21%
- By Region: North America- 38%, Asia-Pacific- 25%, Europe- 22%, Rest of the World- 15%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2015: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 =
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