According to the report titled ‘Global Screw Compressor Market Size study, by Type (Oil-free, Oil-Injected), Stage (Single, Multi), Technology (Stationary, Portable), End-User (Chemical & Petrochemicals, Food & Beverage, Mining & Metals, Oil & Gas, Automotive, Power) and Regional Forecasts 2020-2027’, available with Market Study Report, global screw compressor market was appraised at USD 9.72 billion in 2019 and is reckoned to grow at an annual rate of 6.6% to be remunerated at USD 16.21 billion by the year 2027.
 

An increase in energy consumption across the world, coupled with rising demand for compressors which ensure efficient usage of power and can be maintained cost-effectively are key factors boosting the growth of global screw compressor market.
 

Furthermore, surging energy demand from an array of industry vertical to function properly has resulted in market proliferation. According to IBEF (India Brand Equity Foundation), India utilized electricity totaling to 4897 TWh in 2016, which is estimated to reach 15300 TWh by the year 2040.
 

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Additionally, government investments in power grid infrastructure have grown drastically recently, hence augmenting global screw compressor industry outlook.
 

For the unversed, screw compressors contain two helical motors for compressing external air to a specified pressure level, hence providing clean and dry compressed air. Internal compression along with positive displacement principle is utilized to compress air when continuous air flow is needed in low pressure and high-volume applications.
 

Although, growing utilization of inexhaustible resources may act as challenge for the market, but emphasis on development of eco-friendly screw compressors will pose as lucrative growth prospect.
 

Based on type, worldwide screw compressor market is divided into oil- injected, and oil-free. Speaking of stage, the industry is classified into single, and multi. According to technology terrain, the industry is segregated into portable, and stationary. While, market end-users include food & beverage, mining & metals, chemical & pharmaceutical, oil & gas, power, and automotive.
 

From the regional frame of reference, Asia Pacific held the majority market share in the past year, due to high concentration of industrial and commercial buildings in the region, and rising demand for electricity. Inflowing investments to amplify energy generation infrastructure will positively sway the industry dynamics.
 

Key contenders influencing the global screw compressor market trends are Howden Group Limited, Siemens AG, Trane Technologies plc, Atlas Copco, Sullair LLC, Bauer Kompressoren, Baker Hughes Company, Kaeser Compressors Inc., Gardner Denver Inc. (Ingersoll Rand Inc.), and BOGE Compressed Air Systems GmbH & Co. KG.