The global compressor rental market value is anticipated to increase from USD 4.2 billion in 2023 to USD 8.7 billion by 2033. Over the forecast period 2023 to 2033, global compressor rental demand is likely to rise at 7.5% CAGR.
In 2022, the worldwide compressor rental industry totaled a valuation of USD 3.9 billion. For the projection period, sales are expected to remain positive due to rapid shift towards rental equipment.
Demand is expected to remain high for rotary screw compressors in the target market. This is due to various advantages offered by rotary screw compressors. As per Future Market Insights’ (FMI) latest analysis, rotary screw compressor rental segment is set to thrive at 7.4% CAGR through 2033.
Adoption of compressor rentals is likely to remain high in construction sector owing to rising infrastructural development projections and inclination of contractors towards using rental equipment. The construction segment is forecast to exhibit a CAGR of 7.2% through 2033.
| Attribute | Key Insights |
|---|---|
| Estimated Global Compressor Rental Market Value (2023) | USD 4.2 billion |
| Projected Market Size (2033) | USD 8.7 billion |
| Value-based CAGR (2023 to 2033) | 7.5% |
| United States Market CAGR (2023 to 2033) | 7.5% |
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From filling air into tires to transferring energy in industrial processes, compressors have become critical components across various sectors. These mechanical devices increase the pressure of air.
Compressors are being widely used across several sectors for providing high-pressure air to pneumatic tools and numerous other applications.
However, technologically advanced compressors are generally costly which is prompting end users to opt for rental ones. Adoption of compressor rental gives flexibility to end users to reduce operational costs.
Renting compressors not only saves the cost of buying new equipment but also reduces labor costs as well as maintenance costs. They are ideal for short term equipment need cases. Compressor rental service companies provide end users with the highest-quality machines.
Compressor rental services are emerging as a preferred choice for companies as compared to new ones. They are gaining wider traction due to their cost-effectiveness.
Renting compressors allows companies with budget constraints to meet their financial requirements and ensure stable manufacturing productivity and uptime. Compressor rental companies give flexibility to end users to use advanced equipment for specific duration of time under a fixed price.
Emergencies such as equipment failure due to natural disasters or human error can create serious consequences at sites, thereby impacting operations of companies. To address this and minimize the costs and delays, companies use compressor rentals. This is fostering market development.
Compressor rentals save capital expenses of companies while maintaining smooth and constant production operations. Money, demand, productivity, and equipment upkeep are crucial factors prompting companies to opt for compressor rentals.
Growing inclination towards using compressor rentals as they offer significant cost savings compared to purchasing and maintaining them will drive the global market forward.
Rising adoption of compressor rentals in a wide range of sectors including mining, construction, and manufacturing is expected to boost the market.
Compressor rentals find use in mining applications for operations such as pneumatic conveying, tire filling, raise boring, etc. Thus, increasing mining activities will uplift compressor rental demand during the projection period.
Growing demand for customized compressor rental solutions is expected to act as a catalyst triggering market growth over the next ten years.
Another prominent factor fueling market expansion is the rising usage of compressors in piling, concrete spraying, blasting, and running pneumatic tools in the construction sector.
Robust expansion of automotive sector across the world is likely to fuel demand for compressor rentals. This is because compressors are essential in various automotive applications including paint spraying, tire inflation, and pneumatic tools.
With rising need for flexible and cost-effective solutions in the thriving automotive sector, the worldwide compressor rental industry is set to witness a positive growth trajectory.
Leading companies are focusing on introducing reliable, energy-efficient, and environmentally friendly compressor rental solutions for specific applications. They are also starting to take care of the services and maintenance of their rental equipment, which reduces the maintenance costs of end users. This will help them to increase their sales and boost revenues.
According to Future Market Insights (FMI), the global compressor market registered a growth rate of 8.4% CAGR over the historical period 2018 to 2022. Total market value at the end of 2022 reached around USD 3.9 billion.
Looking forward, the target market is set to exhibit a CAGR of around 7.5% between 2023 and 2033. It is anticipated to create an absolute USD opportunity of USD 4.5 billion during the assessment period.
Growing adoption of compressor rentals across end-use sectors such as construction, mining, oil & gas, manufacturing, chemical, and others is driving the global market forward.
Compressor rentals have become ideal solutions for end users to keep their facility or operations running efficiently, especially in emergencies. Renting equipment such as compressors offers an improved cost advantage and reduces additional repair costs
Rising demand for customized compressors on a rent basis is expected to play a key role in boosting global compressor rental sales revenues.
Various technologically advanced air compressor rentals are preferred as pneumatic power tools in several commercial applications. For instance, they are used as air saws, jackhammers, and pneumatic drills, among others.
Growing demand for these pneumatic tools from a wide range of sectors will therefore boost the global compressor rental industry.
Rapid penetration of industrialization and urbanization along with high usage of digital technology is another key factor impacting compressor rental sales.
| Countries | Projected CAGR (2023 to 2033) |
|---|---|
| United States | 7.5% |
| United Kingdom | 7.2% |
| China | 7.4% |
| Japan | 7 .4% |
| South Korea | 7.3% |
| Countries | Market Value (2033) |
|---|---|
| United States | USD 1.6 billion |
| United Kingdom | USD 0.341 billion |
| China | USD 1.9 billion |
| Japan | USD 1.6 billion |
| South Korea | USD 0.505 billion |
| Countries | Historical CAGR (2018 to 2022) |
|---|---|
| United States | 8.3% |
| United Kingdom | 8.1% |
| China | 8.2% |
| Japan | 8.2% |
| South Korea | 8.0% |
High Adoption of Compressor Rentals in Thriving Manufacturing Sector Boosting China
According to Future Market Insights (FMI), China is expected to remain the most lucrative and dominant market for compressor rentals. This is due to rising usage of compressors across China’s manufacturing sector.
China compressor rental market is projected to create an absolute USD growth of around USD 1.0 billion from 2023 to 2033. It is likely to attain a total valuation of USD 1.9 billion by the end of 2033.
Over the projection period 2023 to 2033, compressor rental demand in China market is forecast to rise at 7.4% CAGR, in comparison to 8.2% CAGR recorded from 2018 to 2022.
Often regarded as the ‘world’s factory’, China is the world’s leading manufacturer in terms of output. China is home to one of the leading manufacturing sectors in the world which makes it conducive for the expansion of the compressor rental industry.
According to the World Population Review, with a share of around 28.4% (USD trillion) of the total global manufacturing output, China tops the list when it comes to manufacturing. This robust expansion of manufacturing sector is expected to boost compressor rental demand.
Compressor rentals such as industrial air compressors are being widely used in the manufacturing sector for various applications. This includes stamping, power tools, clamping, tool cleaning, and controls & actuator.
Manufacturing companies prefer compressor rental over new ones as they help them to significantly reduce overall costs.
Booming Construction Sector Propelling Compressor Rental Demand in the United States
The United States compressor rental market is predicted to reach a valuation of USD 1.6 billion by 2033. From 2023 to 2033, compressor rental sales revenue in the United States market is set to rise at around 7.5% CAGR.
By 2033, the United States compressor rental industry is projected to create an absolute USD opportunity of USD 0.819 billion.
Rapid expansion of construction sector and growing popularity of compressor rentals among construction companies are key factors driving the United States market.
In recent years, there has been an exponential growth of construction sector in the United States. This is due to rapid urbanization & industrialization and rising government expenditure in the development of public infrastructure.
The United States government is investing huge amounts in developing smart cities. Subsequently, there has been a rapid increase in spending on private construction.
As per the United States Census Bureau, construction spending in the United States totaled around USD 1,925.6 billion in May 2023. This in turn is creating huge demand for efficient construction equipment.
To overcome this demand, contractors and construction companies are adopting construction equipment rentals including compressors. These rentals are becoming ideal solutions for short-term equipment need cases.
| Attribute | Details |
|---|---|
| Top Segment (Type) | Rotary Screw |
| Historical CAGR (2018 to 2022) | 8.2% |
| Projected CAGR (2023 to 2033) | 7.4% |
| Attribute | Details |
|---|---|
| Top Segment (Type) | Construction |
| Historical CAGR (2018 to 2022) | 8.0% |
| Projected CAGR (2023 to 2033) | 7.2% |
Demand to Remain High for Rotary Screw Compressors
Based on type, the global compressor rental industry is segmented into rotary screw and reciprocating. Among these, rotary screw compressor is expected to remain the most sought-after type in the global market.
As per Future Market Insights (FMI), demand for rotary screw compressors is forecast to rise at 7.4% CAGR between 2023 and 2033. Historically from 2018 to 2022, the target segment exhibited a CAGR of 8.2%.
Rotary screw compressors are lighter, more efficient, and provide more capacity in smaller packages than piston compressors and reciprocating compressors. These compressors are widely used to supply compressed air for larger industrial applications.
Rotary-screw compressors are ideal for applications that require a continuous air demand such as automated manufacturing systems and food packaging plants. They are generally mounted on tow-behind trailers and powered by small diesel engines.
Growing usage of rotary screw compressors in heavy duty industrial applications is expected to boost growth of the target segment.
Rotary screw compressors are being increasingly used in heavy-duty applications in mining applications. This is because these compressors offer high-efficiency performance as well as ensure safety during mining processes. They can withstand extreme weather conditions in industrial settings
Usage of Compressor Rentals to Remain High in Construction Sector
Based on end use, the worldwide compressor rental industry is segmented into construction, mining, oil & gas, power, manufacturing, chemical, and others.
According to Future Market Insights, construction segment is expected to lead the global market through 2033. This is due to increasing construction activities globally and rising usage of rental compressors in this sector.
The construction segment grew at a CAGR of 8.0% from 2018 to 2022. For the next ten years, the target segment is anticipated to thrive at 7.2% CAGR, creating lucrative growth prospects for the compressor rental industry.
Rapid infrastructural development along with rising demand for construction air compressors are expected to boost the target segment during the assessment period.
Compressor rentals have become a more economical option for construction businesses as compared to purchasing new ones. These compressors are being used for various applications ranging from bulk handling and lifting to drilling.
Rapid growth of construction sector and rising usage of compressor rentals for saving overall costs will play a key role in boosting the global market during the assessment period.
Leading compressor rental companies listed in the report include 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.
Key players are focusing on offering powerful and high-performance compressors to their customers. They also utilize strategies such as collaborations, partnerships, acquisitions, agreements, mergers, facility expansion, agreements, and targeted marketing to gain a competitive edge in the market.
Recent developments:
| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | USD 4.2 billion |
| Projected Market Value (2033) | USD 8.7 billion |
| Anticipated Growth Rate (2023 to 2033) | 7.5% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, End Use, and Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; East Asia; South Asia and Pacific; and the Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, and others. |
| Key Companies Profiled | Acme Fabcon India Private Limited; Aggreko PLC; Ashtead Group PLC; Atlas Copco; Caterpillar Inc; Coates Hire; Hertz Equipment Rental Corporation; Ingersoll Rand; Aktio Corporation |
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