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Compressor Rental Market Revenue, Trend & Growth Forecast To 2024

Author : Rahul Varpe | Published Date : 2019-03-18 

Compressor rental market will be further enhanced by future innovative pneumatic equipment. Numerous prominent manufacturers are continuously involved in developing new products which can make use of speed technology by controlling the compressor speed. These products will be energy efficient owing to their speed controlling nature, in turn, flourishing the industry growth.

On the basis of the product design, compressor rental market can be segmented into rotary screw and reciprocating. Further, rotary is sub-segmented into rotary vane, scroll, screw and centrifugal. Among these, rotary screw segments holds a larger market owing to its increasing use in construction and oil & gas industries as power tools and as oil rigs in crude oil extraction. Also, rising mining end use industry uses this tool to carry out refining, smelting, screening and crushing operations further augmenting the product market over the forecasted time.

Compressor Rental Market size is expected to witness healthy growth during the forecast period owing to its application in manufacturing, power, mining, oil & gas and construction industries. Increase in demand for several precious metals including platinum, gold, silver and coal will foster the demand for various mining tools including cable shovels, hydraulic shovels, long-wall machines and continuous machines during the forecasted time.

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However, mining industry was experiencing difficulties over the past couple of years due to lack of investment activities in several regions. Currently, mining activities is witnessing a progressive trend in North America and Europe region. Restoration of mining equipment market is foreseen to have a positive impact on compressor rental market over the forecasted years. Air compressors are most appropriate to carry out heavy mining operations.

North America compressor rental market is expected to upsurge at healthy growth with increase in construction, chemical and mining activities in the region. Recent boom in shale gas in the region has further flourished the industry market. Another prime indicator to drive the market will be stringent regulations made by government on low emissions and shift away from purchasing this equipment to renting out in order to save money will further fuel the market.

Middle East and Africa region will be one of the promising rental compressor market during the estimated timeframe. Rapid industrial transformation in the region will propel the market size. Drilling activities coupled with oil and gas industries in the region has also been increased, which will also have a positive impact on the industry growth.

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Global compressor rental market is competitive in nature. Some of the key competitors across the globe are Aggreko, Caterpillar, Hertz equipment, Ingersoll Rand and Atlas Copco. Few other prominent leading vendors present in the market are Blueline, Sunbelt, Cramo, ACME fab-con and Coates Hire.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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