Global Compressor Rental Markets, 2028: Sustainable Solutions Propel Compressor Rental Market Amid Growing Environmental Focus

Jul 05, 2023

Global Compressor Rental Market

Dublin, Aug. 11, 2023 (GLOBE NEWSWIRE) -- The "Global Compressor Rental Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global compressor rental market is projected to witness significant growth in the coming years. The market was valued at USD 4.29 billion in 2022 and is expected to grow at a CAGR of 4.4% between 2023 and 2028, reaching a value of USD 5.55 billion by 2028.

The growth of the global compressor rental market is primarily driven by the increasing demand for efficient and flexible compressed air solutions in various industries. The need for temporary compressed air systems in construction, mining, oil and gas, and manufacturing sectors, along with the rising awareness of the benefits of renting compressors, has contributed to the increased adoption of rental solutions across industries.

Furthermore, the focus on reducing capital expenditure and the need for cost-effective solutions have led to the increased preference for compressor rentals over purchasing new equipment. The adoption of rental solutions is expected to create new growth opportunities for the compressor rental market during the forecast period.

Additionally, with the increasing focus on energy efficiency and environmental sustainability in industries, there is a growing demand for energy-efficient and eco-friendly compressor rental solutions. Innovative rental compressor models that consume less energy and produce fewer emissions are expected to drive market expansion during the forecast period.

The trend of outsourcing non-core business activities and the need for reducing operational expenses have also contributed to the increased preference for rental equipment, including compressors. The demand for temporary compressed air solutions, coupled with the need for efficient and cost-effective equipment, is anticipated to drive market growth during the forecast period.

The market is segmented based on type, compressor type, end use, and region. Types of compressors include centrifugal, reciprocating, and rotary screw compressors. Compressor types are further categorized into air compressors and gas compressors. End-use industries for compressor rentals include mining and construction, oil and gas, utility, manufacturing, and chemical industries.

Key players in the global compressor rental market include Aggreko Ltd, Atlas Copco AB, Ingersoll Rand Inc, Caterpillar Inc, Herc Rentals Inc, and others.

Overall, the compressor rental market is poised for substantial growth due to the increasing demand for flexible and efficient compressed air solutions in various industries, along with the cost-effectiveness and environmental benefits of rental equipment.

Key Attributes

Report Attribute

Details

No. of Pages

95

Forecast Period

2023-2028

Estimated Market Value (USD) in 2023

$4.47 Billion

Forecasted Market Value (USD) by 2028

$5.55 Billion

Compound Annual Growth Rate

4.4%

Regions Covered

Global

Key Topics Covered1 Preface2 Report Coverage - Key Segmentation and Scope3 Report Description4 Key Assumptions5 Executive Summary6 Market Snapshot7 Opportunities and Challenges in the Market8 Global Compressor Rental Market Analysis9 North America Compressor Rental Market Analysis10 Europe Compressor Rental Market Analysis11 Asia Pacific Compressor Rental Market Analysis12 Latin America Compressor Rental Market Analysis13 Middle East and Africa Compressor Rental Market Analysis14 Market Dynamics15 Competitive Landscape16 Key Trends and Developments in the MarketCompanies Mentioned

Aggreko Ltd.

Atlas Copco AB

Ingersoll Rand Inc.

Caterpillar Inc.

Herc Rentals Inc.

For more information about this report visit https://www.researchandmarkets.com/r/mrco82

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Global Compressor Rental Market