What’s Driving the Compressor Rental Market Trends? Aggreko, Caterpillar Inc, Ingersoll Rand, Atlas Copco, BlueLine Rental, Coates Hire
Middle East and Africa region will be one of the promising rental compressor market during the estimated timeframe. Rapid industrial transformation in the region will propel the market size. Drilling activities coupled with oil and gas industries in the region has also been increased, which will also have a positive impact on the industry growth.
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Asia-Pacific is expected to be the fastest growing compressor rental market attributable to rapid industrialization and urbanization in the region. Sprouting infrastructure operations will create enormous opportunities for the use of these products. Government focus on saving energy will additionally augment the market. Numerous emerging economies including China, India, Malaysia, Philippines, Thailand and Indonesia are predictable to see high construction activities, in turn, escalating the product market over the forecasted years.
Significant upsurge in demand for customized air rental solutions has propelled the compressor rental market. This customized compressor offers amounts of savings and lessens the repairing costs caused due to system failures. Various raw materials including cast iron, carbon steel and stainless steel used in manufacturing these products are tremendously price sensitive regarding macro-economic conditions. A minor change in raw material prices can adversely effect on the product market.
On the basis of the product design, compressor rental market can be segmented into rotary screw and reciprocating. Further, rotary is sub-segmented into rotary vane, scroll, screw and centrifugal. Among these, rotary screw segments holds a larger market owing to its increasing use in construction and oil & gas industries as power tools and as oil rigs in crude oil extraction. Also, rising mining end use industry uses this tool to carry out refining, smelting, screening and crushing operations further augmenting the product market over the forecasted time.
Based on the end-user industry compressor rental market can be categorized into chemical, manufacturing, power, oil & gas, mining and construction industries. Among them, the construction segment is estimated to stimulate the product market owing to evolution of various sectors, including commercial & residential buildings, demolition & road construction equipment, and infrastructure development in various region, in turn, propelling the market. These tools are used in chemical industries for transporting fluids under high pressure. Further, they are used in aeration tanks and pressurizing tanks.
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Global compressor rental market is competitive in nature. Some of the key competitors across the globe are:
• Hertz equipment
• Ingersoll Rand
• Atlas Copco
• ACME fab-con
• Coates Hire
Compressor Rental Market will be enhanced by future innovative pneumatic equipment. Numerous prominent manufacturers are continuously involved in developing new products which can make use of speed technology by controlling the compressor speed. These products will be energy efficient owing to their speed controlling nature, in turn, flourishing the industry growth.
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