Screw Compressor Market Size, Share, Industry, Forecast and outlook (2024-2031)

The global screw compressor market is expected to undergo a shift in demand due to current trends. The exploration of new offshore oil blocks in South America and Africa is expected to increase demand from these regions in the short and medium term.

Rising plastics production will also create demand for screw compressors from the petrochemicals industry. The International Energy Agency (IEA) estimates that petrochemicals will account for nearly a third of the increase in global oil demand by 2030. In April 2023, Iraq launched the construction of the Nibras petrochemicals complex with an annual capacity of 1.8 million tons.

During the forecast period, screw compressor manufacturers are likely to integrate more energy efficient accessories in order to increase value addition for consumers. For instance, Atlas Copco AB, a major screw compressor manufacturer, is currently working on equipping its entire compressor range with variable speed drive (VSD) motors to reduce electricity consumption.