Increasing Construction and Mining Activities to Steer Global Compressor Rental Market Past US$ 8.7 billion by 2033

According to Future Market Insights' (FMI) latest report, the global compressor rental market value is likely to reach around US$ 4.2 billion in 2023. Over the next ten years, global demand for compressor rental is expected to rise at 7.5% CAGR. By 2033, total market size is set to reach around US$ 8.7 billion.
Compressor rental demand remains particularly high across the thriving construction sector. This is due to rising inclination of contractors and construction companies to use rented equipment such as compressors.

Similarly, increasing construction activities is expected to create lucrative opportunities for compressor rental companies. As per the latest analysis, compressor rental demand in construction segment is anticipated to increase at a healthy CAGR of 7.2% during the assessment period.

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Rising popularity of compressor rentals across end-use sectors such as construction, mining, power, oil & gas, manufacturing, etc. is driving the global market forward.
Burgeoning demand for customized compressor rental solutions across the world is another key factor expected to boost the target market during the assessment period.

Compressor rentals have become an ideal choice for end users to eliminate the need for purchasing new costly equipment. They are particularly helpful during emergencies such as equipment failure as they can help companies maintain smooth and constant production operations.
Availability of compressor rental services allows companies to make use of technologically advanced machinery at minimum costs. It is more affordable for companies to rent out compressors rather than purchasing new ones, especially for small and short-term projects.

Compressor rentals are gaining wider popularity in mining, construction, and manufacturing sectors as they perform several critical operations in these sectors. Expansion of these sectors coupled with rising focus on reducing overall costs will uplift compressor rental demand during the assessment period.
Introduction of new compressor rental services and growing popularity of electric compressor rental solutions will further boost the target market.

Key Takeaways from the Compressor Rental Market Report:
• The global compressor rental industry is predicted to cross a valuation of US$ 8.7 billion by 2033.
• Based on type, rotary screw segment is forecast to thrive at 7.4% through 2033.
• By end use, construction segment is projected to exhibit a CAGR of 7.2% from 2023 to 2033.
• The United States compressor rental industry is expected to attain a valuation of US$ 1.6 billion by 2033.
• China compressor rental industry size is predicted to reach a massive valuation of US$ 1.9 billion 2033.
• The United Kingdom market is anticipated to register a CAGR of 7.2% through 2033.
• Compressor rental demand in Japan is likely to rise at 7.4% CAGR during the assessment period.

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"As new advanced compressors are too costly, they are not affordable to many small builders and contractors. In order to utilize the advanced technology, end users such as builders and contractors are adopting rental ones. This will create lucrative opportunities for compressor rental providers." - says a lead analyst at Future Market Insights (FMI)

Who is Winning?
Acme Fabcon India Private Limited, Aggreko PLC, Ashtead Group PLC, Atlas Copco, Caterpillar Inc, Coates Hire, Hertz Equipment Rental Corporation, Ingersoll Rand, Aktio Corporation, and others. are few of the leading providers of compressor rentals profiled in the report.

These key players are adding technologically advanced and energy-efficient compressors to their existing portfolios to gain profits. They are also showing interest in adopting strategies such as partnerships, alliances, acquisitions, collaborations, agreements, and mergers to strengthen their market presence.

Recent developments:
• In November 2021, TVS2500, a new robust and efficient air compressor called TVS2500 was added by Aerzen Rental to its existing portfolio of rental solutions.

More Insights Available:
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the compressor rental market presenting historical data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study reveals market projections based on type (rotary screw and reciprocating), end use (construction, mining, oil & gas, power, manufacturing, chemical, and others), and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).

Global Compressor Rental 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

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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.