PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1309739
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1309739
Compressor Rental Market by Compressor Type (Reciprocating, Rotary Screw), End-Use Industry (Construction, Mining, Oil & Gas, Power), and Region (Asia Pacific, Europe, North America, Middle East & Africa, South America) - Global Forecast to 2028
The compressor rental market was valued at USD 4.4 billion in 2022 and is projected to reach USD 6.2 billion by 2028, at a CAGR of 5.8% between 2023 and 2028. Uncertainty in raw material prices act as a restraint to the growth of compressor rental market.
"Based on end-use industry, the construction segment is expected to lead the compressor rental market"
Based on end-use industry, the construction segment is projected to dominate the compressor rental market from 2023 to 2028. The growth can be attributed to the global infrastructure development, commercial building projects, residential construction, and urbanisation which are driving the expansion of the construction industry. Construction companies can acquire the necessary equipment through the rental of compressors without having to make a capital investment, freeing up funds for other crucial components of the project.
"Based on compressor type, rotary screw segment to grow at the highest CAGR between 2023 and 2028"
The key end-use industries of rotary screw compressors are construction, mining, and oil & gas. Because they are built for continuous use, rotary screw compressors offer a dependable source of compressed air. In rental applications where a reliable and uninterrupted air supply is crucial, this feature is quite helpful. Rotary screw compressors are used extensively in the industrial, construction, and mining sectors to continually power numerous pieces of machinery and operations. This propels market growth of this segment.
"Asia Pacific dominated the compressor rental market in 2022"
Asia Pacific was the largest market for compressor rental in 2022, due to the growing infrastructure and industrialization development in the region. The compressor rental business is significantly driven by energy efficiency. Companies in the Asia Pacific region are looking for energy-efficient compressor solutions due to rising energy costs and increased awareness of environmental responsibility. Modern compressor models are available for rent from rental businesses, and these models come with energy-saving features like variable speed drives (VSD), ensuring optimal energy consumption and cost savings.
Profile break-up of primary participants for the report:
- By Company Type - Tier 1 - 65 %, Tier 2 - 20%, Tier 3 - 15%
- By Designation - C level - 25%, Director level - 30%, Others - 45%
- By Region - North America - 20%, Asia Pacific - 55%, Europe - 15%, Middle East & Africa - 3%, South America - 7%
Furthermore, as part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, and opportunities. It also discusses competitive strategies adopted by different market players, such as Atlas Copco (Sweden), United Rentals, Inc. (US), Ingersoll Rand (US), Caterpillar Inc. (US), Hertz Equipment Rental Corporation (US), Ashtead Group Plc (UK), H&E Equipment Services (US), Loxam Group (France), HSS Hire (UK), and others.
Research Coverage
This research report covers the compressor rental market based on end-use industry, which includes construction, mining, oil & gas, power, manufacturing, chemical and others. Based on compressor type, the compressor rental market has been divided into rotary screw and reciprocating. The compressor rental market has been studied for various regions that include North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION
- 1.3 INCLUSIONS & EXCLUSIONS
- TABLE 1 COMPRESSOR RENTAL MARKET, BY REGION: INCLUSIONS & EXCLUSIONS
- TABLE 2 COMPRESSOR RENTAL MARKET, BY LUBRICATION SYSTEM: INCLUSIONS & EXCLUSIONS
- TABLE 3 COMPRESSOR RENTAL MARKET, BY COMPRESSOR TYPE: INCLUSIONS & EXCLUSIONS
- TABLE 4 COMPRESSOR RENTAL MARKET, BY END-USE INDUSTRY: INCLUSIONS & EXCLUSIONS
- TABLE 5 COMPRESSOR RENTAL MARKET, BY DRIVE TYPE: INCLUSIONS & EXCLUSIONS
- 1.4 MARKET SCOPE
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
6 INDUSTRY TRENDS
7 COMPRESSOR RENTAL MARKET, BY COMPRESSOR TYPE
8 COMPRESSOR RENTAL MARKET, BY DRIVE TYPE (QUALITATIVE ANALYSIS)
9 COMPRESSOR RENTAL MARKET, BY END-USE INDUSTRY
10 COMPRESSOR RENTAL MARKET, BY LUBRICATION SYSTEM (QUALITATIVE ANALYSIS)
11 COMPRESSOR RENTAL MARKET, BY REGION
12 COMPETITIVE LANDSCAPE
13 COMPANY PROFILES
14 APPENDIX
