Increased demand for customized air rental solutions drives the Compressor Rental Market

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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Compressor Rental Market by End-Use Industry (Construction, Mining, Oil & Gas, Power, Manufacturing)- Global Forecast to 2026

The Compressor Rental Market is projected to reach USD 5.53 Billion by 2026, at a CAGR of 6.4% between 2016 and 2026.

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.

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Based on end-use industry, the construction segment led the compressor rental market 

The growth of the construction segment of the compressor rental market can be attributed to growth of various sectors, such as residential & commercial construction, infrastructure development, demolition & road building equipment, and civil engineering in the Asia-Pacific region. Compressors are considered to be the most efficient tools for bulk handling & lifting as well as drilling applications in the construction industry. Increased use of compressors in the construction industry is one of the driving factors for the 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.

China is the largest market for compressor rental in the Asia-Pacific region, owing to the continuous growth of the chemical and mining industries in the country. Growth of the construction and general manufacturing industries in China is also projected to fuel the demand for compressor rental in the country, thereby contributing to the growth of the Asia-Pacific compressor rental market during the forecast period.

Atlas Copco, Ingersoll Rand, Hertz Equipment Rental Corporation, and United Rentals, Inc., among others are the leading players operating in the compressor rental market. These leading players primarily concentrate on acquisitions to expand their geographical reach, globally. The competitiveness in the compressor rental market is increasing due to growing capacities of companies and increasing number of agreements taking place between them. Various strategic growth activities have been adopted by key players, such as Atlas Copco, Ingersoll Rand, and United Rentals, Inc., among others to strengthen their position in the compressor rental market. These market players are concentrating more on inorganic growth strategies than organic growth strategies. Expansions and new product launches are some of the key strategies adopted by these leading players to grow in the compressor rental market.

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Compressor Rental Market worth 5.53 Billion USD by 2026

The report “Compressor Rental Market by Compressor Type (Reciprocating, Rotary Screw), End-Use Industry (Construction, Mining, Oil & Gas, Power, Manufacturing), Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America) – Global Forecast to 2026″, The compressor rental market is projected to reach USD 5.53 Billion by 2026, at a CAGR of 6.4% from 2016 to 2026.

Browse 81 market data tables and 48 figures spread through 139 pages and in-depth TOC on “Compressor Rental Market”

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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.

Among end-use industries, the chemical segment of the compressor rental market is projected to grow at the highest CAGR from 2016 to 2026.

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.

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Based on compressor type, the rotary screw segment of the compressor rental market is projected to grow at the highest CAGR from 2016 to 2026.

On basis of compressor type, the rotary screw segment accounted for the largest share of the compressor rental market in 2015. This segment is projected to grow at the highest CAGR during the forecast period, 2016 to 2026. Rotary screw compressors are being increasingly used as power tools in the construction industry. In the oil & gas industry, rotary screw compressors are used in oil rigs to extract crude oil. Growth of the construction and oil & gas industries has resulted in growth of the rotary screw compressor type segment of compressor rental market.

The compressor rental market in the Asia-Pacific region is expected to grow at the highest CAGR between 2016 and 2026.

The Asia-Pacific compressor rental market is projected to grow at the highest CAGR between 2016 and 2026. Growing industrialization and infrastructure development in the Asia-Pacific region offers numerous opportunities for use of air compressors. The key driver for the growth the Asia-Pacific compressor rental market is the rising demand for compressors from the construction industry.

Key players, such as Atlas Copco, Ingersoll Rand, and United Rentals, Inc., among others have been focusing on the strategy of mergers & acquisitions to expand their presence in the compressor rental market.

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