Increasing demand for pneumatic tools in the construction and manufacturing end-use industries is fueling the growth of the compressor rental market. Even though, the mining equipment market was experiencing a lull over the past few years, it began to witness a positive trend, in terms of demand for mining equipment since 2015. Air compressors are best suited for heavy duty applications in mining operations. The revival of the mining equipment market is expected to have a positive impact on the growth of the compressor rental market during the forecast period. The compressor rental market is projected to reach USD 5.53 Billion by 2026, at a CAGR of 6.4% from 2016 to 2026.
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In the chemical industry, air compressors are used for transporting liquids under pressure. They are also used in pressurizing tanks, aeration tanks, and culture vessels for spot cooling and molding plastics. Air compressors find application in the automatic control systems used in the chemical industry. Besides air compressors, screw compressors are also commonly used in the chemical industry. Rapid growth of the chemical industry in the Middle East & Africa and Asia-Pacific regions is fueling the growth of compressor rental market.
Technologically advanced air compressors are preferred as pneumatic power tools in commercial applications. They are used as jackhammers, pneumatic drills, pneumatic nail guns, and air saws, among others. Increasing demand for these pneumatic tools in the construction and manufacturing end-use industries is driving the demand for compressors, thereby fueling the growth of the compressor rental market.
These key players operational in the compressor rental market are focusing on new product launches, expansions, and acquisitions to cater to the increasing demand for compressor rental from varied industries. Atlas Copco reported the largest number of developments in the compressor rental market between 2011 and 2016.
In August 2016, Atlas Copco acquired Schneider Druckluft GmbH, a leading manufacturer of professional compressed air solutions with a large network of retailers. This acquisition is expected to strengthen position of Atlas Copco in the Germany compressor rental market. In May 2016, Atlas Copco acquired compressor business of Kohler Druckluft, which operates in Austria, Switzerland, and Liechtenstein. This acquisition resulted in Kohler Druckluft becoming part of the compressor technique business of Atlas Copco. This acquisition aims at improving customer interaction of the company in the central Europe. The company launched GA VSD+, which are oil-injected and oil-cooled rotary screw compressors. These new compressors are capable of reducing energy consumption to half as compared to traditional compressors.
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