Press Release

China Screw Compressor Market to Register Significant CAGR During Forecast Period

Increasing demand for energy-efficient screw compressors and lower maintenance cost to propel growth of China screw compressor market during forecast period

According to TechSci Research report, China Screw Compressor Market By Type, By Stage, By Technology, By End-User Industry, Competition, Forecast & Opportunities, 2024 the China screw compressor market is witnessed to grow at a substantial CAGR during the forecast period on the account of production of cost-effective, easy to use and energy-efficient compressors for oil & gas, chemical processing, F&B and automobile manufacturing plants. In addition, the leading players in the country are focussing more towards the introduction of new and innovative screw compressor designs which is further anticipated to positively escalate the growth of China screw compressors market over the upcoming years.  However, strict adherence to quality along with shortage of skilled labor might hamper the growth of the China screw compressor market through 2024.

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The China screw compressor market is segmented based on type, stage, technology, end-user industry, region and company. In terms of type, the market can be categorized into oil-injected screw compressors and oil-free screw compressors. The oil-injected segment held the largest market share until 2018 and is forecasted to maintain its dominance during the forecast period as well, as these oil-injected screw compressors are widely used to reduce costly downtime and production delays in industries such as roadside construction, mining & processing plants, and automobile. In addition, oil-free screw compressors are anticipated to grow at the fastest rate over the next 5 years owing to requirement of clean and oil-free air by growing industries such as food & beverage, electronics, textile, and pharmaceutical which is expected to create new revenue pockets for the China screw compressor market through 2024.

Rechi Precision Co. Ltd, Zhejiang Hongwuhuan Machinery Co. Ltd., ELGi Equipments Limited, Kaeser Kompressoren SE, Ingersoll-Rand PLC, Atlas Copco AB, Kobe Steel Ltd., Hitachi China Ltd. and MAHLE GmbH and others are some of the leading players operating in China screw compressor market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share and increase their customer bases.

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“The China screw compressor market is segmented based on end-user into oil & gas, chemicals & petrochemicals, food & beverage, automotive, power plants, mining & metals and others. The oil & gas sub segment dominated the market in terms of largest market share till 2018 on account of its applications in onshore and offshore drilling industry, ranging from vapor recovery and gas handling to flash gas processing and fuel gas boosting. Moreover, the food & beverage sub segment is expected to register highest CAGR during the forecast period which can be attributed to the growing use of compressed air in food processing, cooling, and packaging applications.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

China Screw Compressor Market By Type, By Stage, By Technology, By End-User Industry, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of China screw compressor market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in China screw compressor market.

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