The report on the global Compressor Rental market published by TMRR provides a clear understanding of the flight of the Compressor Rental market over the forecast period (2019-2029). The study introspects the various factors that are tipped to influence the growth of the Compressor Rental market in the upcoming years. The current trends, growth opportunities, restraints, and major challenges faced by market players in the Compressor Rental market are analyzed in the report.
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The study reveals that the global Compressor Rental market is projected to reach a market value of ~US$XX by the end of 2029 and grow at a CAGR of ~XX% during the assessment period. Further, a qualitative and quantitative analysis of the Compressor Rental market based on data collected from various credible sources in the market value chain is included in the report along with relevant tables, graphs, and figures.
Key Takeaways of the Report:
- Marketing and promotional strategies adopted by prominent market players
- Historic, current, and projected valuation of the Compressor Rental market
- Overview of the regulatory framework governing the different aspects of the Compressor Rental market
- Recent advancements in the Compressor Rental market landscape
- In-depth analysis of the different segments of the Compressor Rental market
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Compressor Rental Market Segmentation
The report highlights the product adoption pattern of various products in the Compressor Rental market and provides intricate insights such as the consumption volume, supply-demand ratio, and pricing models of the following products:
segmentation. The leading market players are analyzed in terms of their market shares, product portfolios, and business strategies.
Global Compressor Rental Market: Drivers and Restraints
With the development of designs of compressors, more efficiency has been attained so as to meet the demands of various end-users. Some of the compressors being portable, are extensively used in industrial and domestic activities, benefitting the growth of the global compressor rental market. Technological advancement in the field of compressors is expected to boost the adoption rate of compressors. One example is that of air compressors. Traditional air compressors are run at full speed, and have to be stopped when they reach the right pressure. Then, the compressed air is stored to allow pressure hysteresis. As this is a wasteful practice, technological upgrades in air compressors have been carried out to control speed, thereby saving energy, and contributing toward market growth. Air compressors facilitate transfer of air in several industries such as chemical plants, oil extraction, food and beverage, automobiles, and transport. This is expected to expand the global compressor rental market.
On the other hand, factors such as high maintenance costs and the contamination of air caused by oil lubrication are expected to limit growth. Also, oil-free compressors can be noisy, and thus can restrict demand for them.
Global Compressor Rental Market: Key Segments
The compressor rental market can be segmented based on end user, technology, types, and geography. On the basis of their design and function, compressors can be divided into centrifugal compressors and positive displacement compressors. In terms of end user, the market for compressor rentals was dominated by the construction segment. The construction segment gained prominence because the execution of construction and building activities such as blasting, piling, spraying, and operating pneumatic tools require portable air compressors.
Oil-free air compressors have been growing popular recently as they supply non-contaminated air. The portable air compressors, on account of the convenience they offer, are high in demand in off-site operations. The key end-user segments for air compressors can be industrial, commercial, and residential. Industrial air compressors are similar to commercial air compressors; only they are more powerful and bigger in size and volume. Commercial level air compressors are not very portable when compared to residential ones, but they are certainly more powerful. They can run for a long time without a refill. On the residential level, air compressors are used to spray paint, fill air in balloons, balls, and tires. These functions are generally conducted with electric air compressors, which are ideal for domestic purposes. As the demand for air compressors in all these sectors increases, the compressor rental market is slated to present significant opportunities.
Global Compressor Rental Market: Regional Outlook
According to geography, the key segments can be Asia Pacific, Latin America, North America, Europe, and EMEA. The region of Asia Pacific has been exhibiting substantial growth, thanks to the presence of a number of capital-intensive companies that are inclined towards renting compressors instead of buying them. Large- scale construction projects in the countries of Asia Pacific, such as China, Thailand, and India, will further fuel compressor rental market growth.
Global Compressor Rental Market: Vendor Landscape
Some of the key players operating in the global compressor rental market include Caterpillar Inc., Ingersoll Rand, Atlas Copco, Aggreko plc, and United Rentals, Inc. One key development in the competitive landscape is the launch of new GA VSD+ oil-injected, compact, rotary screw compressors by Atlas Copco in 2013. These air compressors are designed to cut energy consumption to half the amount required by traditional compressors of similar type. The leading companies in the global compressor rental market have been emphasizing on better product offerings through increased investments in R&D activities.
The report addresses the following doubts related to the Compressor Rental market:
- Which company in the Compressor Rental market is leading in terms of innovation?
- The demand from which end-user is expected to drive the growth of the Compressor Rental market?
- What are the growth opportunities for market players in the developing regions?
- What are the various distribution channels adopted by market players in the Compressor Rental market?
- How are emerging market players establishing their presence in the current market landscape?
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