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. Many different industries, including manufacturing, construction, automotive, oil and gas, refrigeration, and many others, employ compressors extensively, which drives the market.
Attractive Opportunities in the Compressor Rental Market
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Market Dynamics:
Driver: New customized compressed air rental solution
Major players offer compressor rental services engineered for specific applications, for short and long term, and various ranges. Rental options provide the ability to scale compressed air capacity up or down in response to production needs or maintenance outages, negating the need for substantial capital expenditures for permanent installations. Overall, the need for adaptability, flexibility, cost savings, and operational efficiency is driving demand for customized compressed air rental solutions.
Restraint: Uncertainty in raw material prices
Raw materials for compressors include forged carbon steel, stainless steel, and cast iron, among others. Prices for these raw materials are extremely sensitive to changes in macro-economic conditions. The rental rates that compressor rental firms offer may be impacted by the volatility of raw material prices. Rental companies may need to change their rates if the price of raw materials rises noticeably in order to remain profitable and pay their costs.
Opportunity: Next generation air compressors
Smart control systems that enable remote monitoring, data analysis, and compressor performance optimization are a feature of next-generation air compressors. Real-time monitoring of important metrics, proactive maintenance, and remote diagnostics are all made possible by Internet of Things (IoT) connectivity. The demand for energy efficiency, sustainability, connection, and dependability is what is driving the development of the next generation of air compressors, thus offering opportunity for the growth of compressor rental market.
Challenge: Equipment availability challenges
The availability of equipment can be a problem when renting compressors, particularly if they are specialists in certain models or sizes, some rental companies could have a small selection of compressors. Due to greater demand, rental companies in crowded areas or large cities might stock a wider variety of compressors. On the other hand, in rural or remote places, selections can be more constrained, necessitating longer delivery periods or other rental providers. This provides a challenge to the compressor rental market.
Compressor Rental Market: Ecosystem
Prominent companies in this market include 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).
Based on end-use industry, the construction segment dominated the compressor rental market in 2022, accounting for the largest market share. Environmental rules, such as emission standards and limits on noise pollution, are becoming more and more applicable to construction projects. Rental firms provide these regulations-compliant, contemporary compressor types, which are both energy- and environmentally friendly. Variable speed drives (VSD), a feature of energy-saving compressors, aid construction organizations in achieving sustainability objectives while lowering operating costs, thus driving the market of this segment.
The rotary screw compressor type segment is expected to lead the compressor rental market. Rotary screw compressors are ideal for rental applications because they can be moved and set up fast and easily, especially in mobile work areas such as construction. The attraction of rotary screw compressors in the rental industry has been further boosted by technological developments. Modern rotary screw compressors now come with advanced control systems, digital interfaces, remote monitoring capabilities, and preventive maintenance features.
The Asia Pacific region is expected to lead the compressor rental market between 2023 and 2028. Advanced compressor models with attributes such as remote monitoring, proactive maintenance, and real-time data analytics are available from rental firms. Businesses will find compressor rentals more appealing as a result of these technological improvements in equipment performance, decreased downtime, and increased operational efficiency. To encourage the expansion of industry, environmental sustainability, and infrastructure development, many nations in the Asia Pacific area have implemented government initiatives and regulations, thus fueling market growth.
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Key Market Players
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) are among the major players leading the market through their geographical presence, enhanced production capacities, and efficient distribution channels.
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Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
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Report Metric |
Details |
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Market Size Available for Years |
2018 to 2028 |
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Base Year Considered |
2022 |
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Forecast Period |
2023–2028 |
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Forecast Units |
Value (USD Million/Billion) |
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Segments Covered |
End-use Industry, Type, and Region |
|
Geographies Covered |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
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Companies Covered |
The major market players include 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 |
This research report categorizes the compressor rental market based on end-use industry, type, and region.
On the basis of end-use industry:
- Construction
- Mining
- Oil & Gas
- Power
- Manufacturing
- Chemical
On the basis of compressor type:
- Rotary Screw
- Reciprocating
On the basis of region:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
Recent Developments
- In June 2023, Atlas Copco finalized the acquisition of National Pump & Energy (NPE), a leading provider of dewatering, environmental services, and water treatment solutions in Australia and New Zealand.
- In November 2021, Ingersoll Rand acquired Dosatron International L.L.C, a renowned provider of water powered dosing pumps and systems. By acquiring Dosatron International, Ingersoll Rand strengthens its position in the market for water powered dosing pumps and systems.
- In May 2021, United Rentals Inc. completed the acquisition of General Finance Corporation that provides mobile storage, liquid containment, and modular space.
Frequently Asked Questions (FAQ):
What is the current size of the compressor rental market?
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.
Which region is expected to lead the market in the compressor rental market?
The compressor rental market in Asia Pacific is estimated to lead the market, owing to infrastructure development in the region.
Which is the major end-use industry of compressor rental?
The construction segment is the major end-use industry of compressor rental.
Who are the major players operating in the compressor rental market?
The major players operating in the market include 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).
What is the total CAGR expected to record for the compressor rental market during 2023-2028?
The market is expected to record a CAGR of 5.8% from 2023-2028. .
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The study involved four major activities in estimating the current market size of compressor rental. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizes with industry experts across the value chain of compressor rental through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the size of the segments and sub-segments of the market.
Secondary Research
The research methodology used to estimate and forecast the access control market begins with capturing data on revenues of key vendors in the market through secondary research. In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies; articles by recognized authors; notifications by regulatory bodies; trade directories; and databases. Vendor offerings have also been taken into consideration to determine market segmentation.
Primary Research
The compressor rental market comprises several stakeholders, such as raw material suppliers, compressor rental manufacturers, and regulatory organizations in the supply chain. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Primary sources from the supply side included industry experts such as Chief Executive Officers (CEOs), vice presidents, marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the compressor rental market. Primary sources from the demand side included directors, marketing heads, and purchase managers from various sourcing industries.
Following is the breakdown of the primary respondents:
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Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the compressor rental market. These methods were also used extensively to determine the size of various sub-segments in the market. The research methodology used to estimate the market size included the following:
- The key players were identified through extensive primary and secondary research.
- The value chain and market size of the compressor rental market, in terms of value, were determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Global Compressor Rental Market Size: Bottom-Up Approach
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Global Compressor Rental Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the compressor rental sources.
Market definition
A compressor is a device, which converts power into potential energy in the form of compressed air. The energy stored in the compressed air can be used for many applications across industries such as construction, mining, oil & gas, power, and chemical, among others. Many industries choose to use rental compressors instead of buying one, as different types of compressors are required for a specific work. Air compressors are rented by the day, week, or month.
Key Stakeholders
- Manufacturers of compressor rentals
- Manufacturers in end-use industries
- Traders, distributors, and suppliers of compressor rentals
- Contract manufacturing organizations (CMOs)
- Market research and consulting firms
Report Objectives:
- To define, describe, and forecast the compressor rental market based on end-use industry, type, and region
- To analyze and forecast the value (USD million) of the compressor rental market
- To provide detailed information regarding key factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market
- To forecast the market size in terms of value with respect to five main regions (along with countries), namely, Asia-Pacific, North America, Europe, Middle East & Africa, and South America
- To strategically profile key players and comprehensively analyze their core competencies
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the client-specific needs.
The following customization options are available for the report:
- Additional country-level analysis of the compressor rental market
- Profiling of additional market players (up to 5)
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolio of each company.
Growth opportunities and latent adjacency in Compressor Rental Market