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Rental Air Compressors Market : Industry Insights With Key Company Profiles - Forecast To 2024

Press Release   •   Aug 02, 2017 13:53 EDT

Air compressor is a machine used to convert power from electric motors into kinetic energy. Rental air compressors are customized compressors made available to the client on rent. Rental air compressors is a good option to meet short- or long-term demand and unexpected contingencies or emergencies. The use of these compressors reduces the additional repairing cost arising out of system breakdown and the risk of financial loss. They also offer significant cost advantage.

The purchase and installation of new compressors incur significant costs. The shift in trend toward renting compressors with operational expenses is a key factor driving the demand for rental air compressors. Failure and frequent replacement of aging equipment, changing emission standards, and the recovering petrochemical & refining sector are some of the factors fuelling the demand for rental air compressors. Additionally, growth of the manufacturing sector and the coal & mining equipment sector is expected to propel

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demand for rental air compressors during the forecast period. Development of more efficient air compressors to mitigate the concerns pertaining to noise pollution and air pollution and potential innovations in technology are likely to boost the use of rental air compressors in the construction industry. These factors are expected to positively influence the demand for rental air compressors in the near future.

Based on compressor type, the market for rental air compressors can be divided into reciprocating and rotary screw air compressors. In 2016, rotary screw was the dominant segment holding a significant share of the market. Rotary screw compressors are increasingly being employed as a power tool in the construction industry. They are also used in the oil & gas industry in oil rigs operations to extract crude oil. As a result, the rotary screw segment is expected to witness remarkable growth during the forecast period. This growth is also attributable to growth of construction and oil & gas sectors, particularly in Asia Pacific and the Middle East.

Depending on end use, the market for rental air compressors can be segmented into construction, mining, oil & gas, power generation, manufacturing, and chemical. Rental air compressors are widely used as pneumatic tools in manufacturing and construction industries. Increase in infrastructural development and boom in residential and commercial construction activities, particularly in Asia Pacific, drive the demand for air compressors in bulk handling and drilling applications. As a result, the construction segment held a major market share in 2016.

The mining sector has been witnessing sluggish growth for the last few years, due to abridged investments and reduced demand in North America and Europe. However, unexplored regions such as Africa and Latin America present significant growth opportunities for the mining equipment sector. The mining segment is estimated to expand significantly in the next few years. Rental air compressors, especially rotary screw compressors, are widely employed for heavy-duty applications in the mining industry owing to their high efficiency and safe performance during mining operations. The chemical segment is expected to witness impressive growth during the forecast period, owing to use of rental air compressors in automatic control systems, spot cooling, and molding plastics applications.

In terms of geography, Asia Pacific held a major share of the global rental air compressors market in 2016. This is attributable to flourishing construction and manufacturing sectors in the region. Most of the end-user firms in the two industries are capital-intensive and they prefer using air compressors on rent rather than buying them.

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Key players operating in the global rental air compressors market include Ingersoll Rand, Caterpillar, Atlas Copco, Aggreko, and Hertz Equipment.

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