The compressor
rental market is expected to develop steadily over the forecast
period owing to the recovery of the mining equipment market. Rising
demand for modified rental air solutions to meet the needs of the
industry is likely to drive the market over the forecast period,
along with the growing usage of customized air compressor rental
systems in the medical, construction, and oil & gas end-user
industries. Demand for compressor rental services in the chemical
industry for transporting liquid under pressure has accelerated over
the years. The rapid development of this industry in Asia Pacific and
Middle East & Africa is anticipated to propel the compressor
rental market over the forecast period. The untapped market of Latin
America is also projected to exhibit potential due to the rising
number of mining equipment manufacturers in the region. Introduction
of new-age compressors involves the usage of differentiated speed
technology with an energy-efficient operational nature. The variable
speed drive technology is energy-efficient compared to fixed speed
air compressors. Despite the decline in the investments in mining and
the need for it in Europe and North America, the industry is
estimated to regain its prominence to cater to the compressor rental
market over the next few years.
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Stimulation of the
mining equipment market will play a key role in driving the growth
trajectories of the global compressor rental market. Compressed
rental find its usage in the mining industry raise boring, scaling,
tire filling, refuge station air, workshop service air and pneumatic
conveying among other functions. Therefore growth in mining
activities will fuel the demand for compressed rental and drive the
market.
The market has been
bifurcated by type into the reciprocating and rotary screw segments.
The latter accounted for a major market share in 2016 and is
predicted to regain its position over the forecast period. Rotary
screws are widely used as a power tool in the construction industry
as also used in the oil & gas sector – specifically in oil rigs
to extract crude oil. Based on end-user industry, the compressor
rental market is segregated into the mining, manufacturing,
chemicals, and oil & gas categories. The chemical industry
constituted a dominant market share in 2016 and is expected to retain
its position over the next few years. Compressor rentals are often
employed in aeration tanks, pressurizing tanks, and culture vessels
for molding plastics and spot cooling. Air compressors are mostly
employed in the automatic control systems in the chemicals industry.
The rapid growth of the chemical industry in Asia Pacific and Middle
East & Africa is anticipated to drive the compressor rental
market over the forecast period.
Geographically, the
market can be distributed over North America, Europe, Asia Pacific,
Middle East & Africa, and Latin America. Asia Pacific held the
dominant share in the compressor rental market in 2016 and is
predicted to maintain its position during the forecast period. The
rising infrastructure and industrialization in Asia Pacific offers
multiple opportunities for the use of air compressors. Increasing
demand for compressors in the construction industry is a crucial
driver of the compressor rental market in this region, apart from the
burgeoning construction industry in India, Indonesia, Thailand, and
Malaysia. North America and Europe are mature markets for compressor
rentals and predicted to expand at a decent pace over the next few
years owing to the well-established end-user industries in these
regions. Latin America is projected to advance rapidly due to the
prevalent mining and construction industry, dominated by Brazil.
Middle East & Africa is an emerging market projected to
constitute a considerable market share in the near future.
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Key players
operating in the compressor rental market include Caterpillar, Atlas
Copco, Aggreko, Sunbelt Rentals, United Rentals, and Hertz Equipment.
Others are AirParts Compressores, ACME Fab-Con, Cramco, Ramirent, and
Ar Brasil Compressores Blueline Rental.
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