Press release
Air Compressor Rental Market Set to Expand at 5.2% CAGR, Reaching US$ 8,938.6 Million by 2033
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The surge in demand for air compressor rentals is driven by the increasing use of pneumatic tools, growth in the automotive and construction sectors, and the expanding aerospace industry. Air compressor rentals offer a flexible and cost-effective solution for temporary compressed air needs in construction projects and aerospace facilities, ensuring uninterrupted operations and minimizing downtime. This creates growth opportunities for the market as a whole.
Key Takeaways from Market Study:
The global air compressor rental market (공기 압축기 임대 시장) is expected to grow at a notable CAGR of 5.2% and reach a value of US$ 8,938.6 million by 2033.
The market showed a CAGR of 5.4% during the period of 2018-2022.
The rotary screw compressor leads the market under the type segment, capturing a 39.1% market share in 2023.
East Asia emerged as the dominant market, holding a 34.8% market share in 2023.
The air compressor rental market is projected to witness CAGRs of 4.7% and 5.2% in East Asia and North America, respectively.
Market Dynamics
The market dynamics are influenced by several factors. One of the primary drivers is the cost-effectiveness of renting air compressors compared to buying, especially for businesses that do not require constant access to these machines. Additionally, the increasing number of construction projects and industrial activities globally is fueling the demand for air compressor rentals.
Furthermore, the flexibility and convenience offered by rental services, such as maintenance and replacement options, are attracting more customers. The growing awareness among industries about the benefits of renting, such as reduced downtime and increased efficiency, is also contributing to market growth.
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.
Key Players
Aditya Technologies
Aggreko
Ashtead Group
Atlas Copco
Carolina CAT
Herc Rentals
Kalika Compressor
NiGen International L.L.C
Sigma Air Power Solutions
United Rentals
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.
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Segmentation of Air Compressor Rental (Markt für die Vermietung von Luftkompressoren) 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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