Global Compressor Rental Market Report and Forecast 2023-2028

Global Compressor Rental Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global compressor rental market attained a value of USD 4,297.6 million in 2022. Aided by the increasing demand for efficient and flexible compressed air solutions in various industries, the market is projected to grow at a CAGR of 4.4% between 2023 and 2028, reaching a value of USD 5,553.8 million by 2028.

Compressor rentals are temporary compressed air solutions provided by equipment rental companies for various applications, such as construction, mining, oil and gas, and manufacturing, among others. These rental compressors offer several advantages over purchasing compressors, including reduced capital expenditure, lower maintenance costs, and increased flexibility in terms of capacity and application requirements. They are available in various types, such as rotary screw compressors, reciprocating compressors, and centrifugal compressors, catering to different industry needs.

The global compressor rental market growth is primarily driven by the increasing demand for efficient and flexible compressed air solutions in various industries. The growing need for temporary compressed air systems in construction, mining, oil and gas, and manufacturing sectors, coupled with the rising awareness of the benefits of renting compressors, has contributed to the increased adoption of these rental solutions across the industry.

Additionally, the growing focus on reducing capital expenditure and the need for cost-effective solutions have led to the increased preference for compressor rentals over purchasing new equipment. The increasing adoption of these rental solutions is expected to create new growth opportunities for the global compressor rental market during the forecast period.

With the increasing focus on energy efficiency and environmental sustainability in various industries, the demand for energy-efficient and eco-friendly compressor rental solutions is on the rise. The development of innovative rental compressor models that consume less energy and produce fewer emissions is expected to bolster the compressor rental market expansion during the forecast period.

Furthermore, the rising trend of outsourcing non-core business activities and the need for reducing operational expenses have led to the increased preference for rental equipment, including compressors. The growing demand for temporary compressed air solutions, coupled with the rising need for efficient and cost-effective equipment, is anticipated to drive the compressor rental market growth during the forecast period.

Market Segmentation

The market can be divided based on type, compressor type, end use, and region.

Market Breakup by Type

• Centrifugal
• Reciprocating
• Rotary Screw

Market Breakup by Compressor Type

• Air Compressor
• Gas Compressor

Market Breakup by End Use

• Mining and Construction
• Oil and Gas
• Utility
• Manufacturing
• Chemical

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global compressor rental companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Aggreko Ltd
• Atlas Copco AB
• Ingersoll Rand Inc.
• Caterpillar Inc.
• Herc Rentals Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.