The global compressor rental market is poised for substantial growth, with its value projected to surge from US$ 4.2 billion in 2023 to an impressive US$ 8.7 billion by 2033. This robust expansion is anticipated to be driven by a remarkable 7.5% compound annual growth rate (CAGR) during the forecast period spanning 2023 to 2033.
In 2022, the compressor rental industry witnessed a significant valuation of US$ 3.9 billion, setting the stage for continued positive growth momentum in the years ahead, propelled largely by a notable shift towards rental equipment solutions across various sectors.
Among the compressor types, rotary screw compressors are anticipated to experience particularly high demand in the global market. This heightened preference for rotary screw compressors is attributed to their numerous advantages, driving the rotary screw compressor rental segment to thrive at a commendable 7.4% CAGR through 2033, according to insights from Future Market Insights (FMI).
The construction sector is expected to emerge as a key driver of demand for compressor rentals, fueled by projections of robust infrastructural development activities worldwide. Contractors are increasingly opting for rental equipment solutions, driving the construction segment to exhibit a noteworthy CAGR of 7.2% through 2033, as per FMI’s latest analysis.
Growth Factors
The compressor rental market is witnessing a surge in demand across diverse sectors such as construction, mining, oil & gas, and manufacturing, driving substantial market growth. This growing utilization of compressor rentals in key industries is serving as a significant catalyst for the expansion of the market.
Moreover, there is a notable uptick in the demand for customized compressors globally, which is expected to further propel the growth of the compressor rental industry. This trend reflects the increasing need among businesses for tailored compressor solutions that meet their specific operational requirements.
The expansion of the construction and mining sectors is anticipated to present lucrative opportunities for compressor rental providers. With ongoing infrastructure development projects and mining activities worldwide, the demand for compressor rentals in these sectors is poised to experience significant growth.
Additionally, the surging popularity of portable and electric compressor rentals is expected to positively impact the market. These portable and electric compressor solutions offer enhanced flexibility and efficiency, catering to the evolving needs of end-users across various industries.
Furthermore, there is a growing preference for technologically advanced and cost-effective equipment among consumers, which is set to drive compressor rental sales revenues through 2033. As businesses seek innovative and economical solutions to optimize their operations, the demand for advanced compressor rental offerings is expected to remain robust.
Key Companies
- Acme Fabcon India Private Limited
- Aggreko PLC
- Ashtead Group PLC
- Atlas Copco
- Caterpillar Inc
- Coates Hire
- Hertz Equipment Rental Corporation
- Ingersoll Rand
- Aktio Corporation
Market Segmentation
By Type:
- Rotary Screw
- Reciprocating
By End Use:
- Construction
- Mining, Oil & Gas
- Power
- Manufacturing
- Chemical
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
