The two main factors influencing the screw expander market are increased worries about climate change and rising electricity demand. Power prices have been steadily rising in several nations worldwide in recent years due to rising electricity demand, which has encouraged investment in renewable energy sources. Screw expanders are widely employed in geothermal energy production, biomass cogeneration, and industrial waste heat recovery systems that utilize renewable resources. Throughout the forecast period, this is anticipated to drive the screw expander market's growth.
Rapid industrialization and rising global demand for electricity have led to a need for screw expanders. In power generation systems like combined heat and power (CHP) plants, which are frequently used to produce electricity from waste heat, the screw expander functions as an integral component. This waste heat is generated during industrial processes including the production of steel, smelting, and chemicals, among others, and it must be effectively utilized in order to improve energy efficiency. Additionally, a greater emphasis is being placed on renewable energy sources, such as geothermal and biomass cogeneration power plants, as a result of growing worries about the depletion of natural resources due to rising emissions.
The use of a screw expander has many benefits. They provide a more effective method for recovering heat from geothermal power generation, biomass cogeneration, and industrial waste streams. Due to the absence of moving parts, they also require less maintenance than conventional turbines. Furthermore, because of their helical design, they are more energy efficient than other forms of expanders.
An energy-conversion tool called a screw expander uses low-temperature or low-pressure heat to produce mechanical work. Through the use of a rotary engine with a working medium that expands and contracts in a helical cavity, the expander rotor and drive shafts are forced to rotate. Changing the working medium's pressure, temperature, or volume will cause it to expand.
At a compound annual growth rate (CAGR) of 6.1% from 2021 to 2031, the screw expander market is anticipated to increase from USD 1.02 billion in 2021 to USD 1.45 billion by 2031.
The main restraint is the growing competition from alternative technologies, which can produce more power with less fuel input than traditional steam turbines such as gas turbines, internal combustion engines, and thermoelectric generators. Additionally, the hefty initial investment required to start a Screw Expanders business is affecting its sale price, which could slow down adoption. However, it is anticipated that the growing market for energy-efficient technologies from nations like China and India will open up prospective prospects.
General Electric Company, Siemens AG, Hitachi Ltd., Ankur Scientific Energy Technologies Pvt. Ltd., Kawasaki Heavy Industries Ltd., GMM Pfaudler Inc., Star Trace Pvt. Ltd., ORC Technology, Elliott Group, Thermax Limited, Turboden S.r.l. are the leading companies in the global screw expander market.
The Organic Working Medium Screw Expander Type to Emerge as the Most Lucrative Segment
Steam screw expanders and organic working medium screw expanders are the two market segments for screw expanders on a global scale. Due to their greater efficiency compared to steam screw expanders, organic working medium screw expanders are predicted to experience significant expansion.
The Most Popular Application Segment is Industrial Waste Heat Recovery
The global screw expander market is segmented into biomass cogeneration, geothermal power generation, industrial waste heat recovery, and other segments. Due to an increase in the demand for energy-efficient solutions by companies, the industrial waste heat recovery segment will continue to dominate the market overall throughout the projected period. Due to several government efforts aimed at increasing the use of renewable energy sources, biomass cogeneration is likewise predicted to experience rapid expansion.
North American region to render Adequate Financing Avenues
Due to the region's established industries and growing demand for energy-efficient solutions, North America is anticipated to have the largest market for screw expanders globally. The region of Asia Pacific is also expected to experience strong growth, driven by significant infrastructure development spending and the accessibility of labour at reasonable prices in nations like China, India, and other Asian countries. Furthermore, due to expanding government programmes aimed at the production of power from renewable sources, Europe will experience robust growth in the worldwide screw expander market.
COVID-19 Impact and Market Status
The global screw expander market has been negatively impacted by the Covid-19 pandemic. The pandemic has caused disruptions in the supply chain of manufacturers and consumers, resulting in a decline in demand for screw expanders due to reduced investments in renewable energy sources. Moreover, the shutdown of manufacturing plants and supply chain disruptions have led to a shortage of raw materials, thus hampering the production of screw expanders. However, with the gradual lifting of lockdown restrictions, the market is expected to recover in 2021. The global energy sector is expected to remain resilient despite the pandemic and investments in renewable energy sources are likely to increase over time. This will result in an increased demand for screw expanders and the market is expected to reach its pre-Covid level by 2023. Furthermore, the increased focus on reducing carbon emissions will also fuel the growth of this market.
Latest Innovations in the Global Screw Expander Market: A Snapshot
• The Organic Rankine Cycle (ORC) technology is one innovation that is increasing screw expander efficiency while lowering running costs. Users can increase energy output while reducing energy loss during the generation process by using the ORC technology.
• A steam screw expander system created by Planetgeo Ltd employs readily available, low-cost heat sources to produce electricity efficiently and economically.
• In order to provide high levels of efficiency, companies including Thermodyn International Inc., Dresser-Rand Group, and EnerPower Solutions AG have started introducing innovative screw expander systems.
Screw Expander Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 1.45 billion|
|Growth Rate||CAGR of 6.1% during 2021-2031|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||General Electric Company, Siemens AG, Hitachi Ltd., Ankur Scientific Energy Technologies Pvt. Ltd., Kawasaki Heavy Industries Ltd., GMM Pfaudler Inc., Star Trace Pvt. Ltd., ORC Technology, Elliott Group, Thermax Limited, Turboden S.r.l. are the leading companies in the global screw expander market.|
Key Segments of the Global Screw Expander Market
By Type Overview, 2021-2031 (USD Billion)
• Steam Screw Expander,
• Organic Working Medium Screw Expander
By Application Overview, 2021-2031 (USD Billion)
• Industrial Waste Heat Recovery
• Geothermal Power Generation
• Biomass Cogeneration
By Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and Africa