The global screw compressor market is witnessing a substantial hike in its demand and the market may record a CAGR of 5.73% during the forecast period (2018 to 2023).
Market Research Future (MRFR) identified the evolution of end user industries, rising oil & gas exploration activities, technological integration, its advantage of piston compressors as it yields low noise, are some of the major features that can bolster the market growth. Energy-efficient designs and better rental plans are expected to set the market for better targets.
However, the fluctuation of the steel price can hold back the market from registering proper growth in the coming years.
The global market report on the screw compressors market includes a study based on a proper segmentation. This segmentation includes type, stage, portability, and end user as major aspects of the market.
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In Asia Pacific, the market is slated to benefit significantly for its demand is growing among various burgeoning industries. Oil & gas exploration activities are also boosting the market. In North America, the US and Canada would create a robust premise for the market to register growth.
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These companies are charting routes using various strategic mechanisms to ensure market growth. MRFR’s tracing of their past activities could help in understanding trends that are impacting the market and could influence the outcomes in the coming years.
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