Air Compressor Rental Market is Estimated to Hit US$ 8,938.6 Million at a CAGR of 5.2% by 2033, States Fact.MR

The United States tops the global air compressor rental market, accounts for a 24.7% market share in 2023.

Rockville, July 12, 2023 (GLOBE NEWSWIRE) -- As per a new report by Fact.MR, a market research and competitive intelligence provider, the Air Compressor Rental Market is projected to reach a valuation of US$ 8,938.6 million, expanding at a CAGR of 5.2% by 2033.

Air compressors play a crucial role in industries such as manufacturing, construction, automotive, and aerospace, powering machinery and facilitating HVAC systems. Renting air compressors offers significant cost savings compared to purchasing and maintaining them, making it an attractive option for cost-conscious organizations. Market players' efforts to stay competitive including portfolio upgrades and improved customer service, contribute to long-term market growth.

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The demand for air compressor rentals is surging due to the increasing need for pneumatic tools, the growth of the automotive and construction sectors, and the expansion of the aerospace industry.

Air compressor rentals provide a flexible and cost-effective solution for temporary compressed air needs in construction projects and aerospace facilities, ensuring uninterrupted operations and minimizing downtime creating growth opportunities for the market.

Key Takeaways from Market Study

The global air compressor rental market is projected to expand at an impressive CAGR of 5.2% and be valued at US$ 8,938.6 million by 2033

The market witnessed a CAGR of 5.4% for the period of 2018-2022

Under the type segment, rotary screw compressor dominates the market with a 39.1% market share in 2023

East Asia dominated the market with a 34.8% market share in 2023

Based on region, the air compressor rental market is expected to increase at CAGRs of 4.7% and 5.2%, respectively, in East Asia and North America

“Increasing Industrial Manufacturing & Construction Activities is Driving the Demand for Air Compressor Rentals” says a Fact.MR analyst.

Competitive Landscape

One essential growth approach is to improve customer service. Rental firms place a strong emphasis on delivering rapid and dependable services, such as installation, after-sales support, training, and timely delivery. This guarantees client satisfaction and encourages long-term business relationships.

To improve market position and obtain a competitive edge, strategic alliances and acquisitions are made. Rental service providers may join up with equipment producers or buy out smaller rental businesses in order to increase their market share and provide all-inclusive solutions.

For instance, to enhance and expand their specialised rental product offering to industrial customers across all markets and segments, Atlas Copco purchased the majority of Eco Steam and Heating Solutions (E.K.S. HOLDING B.V.), a speciality rental firm situated in Tilburg, the Netherlands.

Key Companies Profiled

Aditya Technologies

Aggreko

Ashtead Group

Atlas Copco

Carolina CAT

Herc Rentals

Kalika Compressor

NiGen International L.L.C

Sigma Air Power Solutions

United Rentals

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Market Development

Rental service providers are expanding their product portfolios to cater to a wide range of customer needs. They offer a diverse selection of air compressor models with varying capacities and features to address specific industrial applications.

Further, to meet the specific requirements of different industries, rental providers offer customized solutions. They collaborate with customers to understand their unique needs and provide tailored rental packages, including equipment selection, maintenance services, and technical support.

Segmentation of Air Compressor Rental Industry Research

By Type:

Reciprocating Compressor

Rotary Vane Compressor

Scroll Compressor

Screw Compressor

Centrifugal Compressor

By Lubrication:

Oil Filled

Oil Free

By Drive Type:

Electric

Conventional

By Application:

Automotive

Aerospace

Oil & Gas

Building & Construction

Mining

Power Generation

Others

By Region:

North America

Latin America

Europe

East Asia

South Asia & ASEAN

Oceania

MEA

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global air compressor rental market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of type (reciprocating compressor, rotary vane compressor, scroll compressor, rotary screw compressor, centrifugal compressor), lubrication (oil filled, oil-free), drive type (electric conventional) application (automotive, aerospace, oil & gas, building & construction, mining, power generation, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania and the Middle East & Africa).

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