Market Research Future published a research report on “Global Screw Compressor Rental Market – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2023.
Market Scenario
Market Research Future (MRFR) asserts that the global screw compressor rental market is predicted to register 5.73% CAGR during the forecast period (2018-2023). The market is highly driven by the extensive demand for customized rental solutions across industrial sectors. Screw compressors are referred to as pneumatic equipment which is used in compressing gas with the help of rotors. Due to its low noise ration, maintenance, and operational costs, screw compressors are preferred over piston compressors. Such benefits have resulted in its implementation by the end-use industries like construction, oil & gas, medical, construction, and others.
Market Potential and Pitfalls
The surging demand for rental equipment and tools due to power outage is anticipated to favor the market growth across the globe. As screw compressor rental services act as an effective backup for sustaining the flow of production, the demand for such equipment are huge. The rising preference for energy-efficient compressors resistive to friction has enabled the Screw Compressor Rental Market to reach out to a wider segment of audience. Moreover, with the revived mining industry, the market is likely to foster in the coming years.
The surging demand for modified rental air solutions in order to meet the requirements of the industry and the rising usage of customized air compressor rental systems in the construction, medical, and oil & gas sectors have impacted the market positively. The accelerated demand for compressor rental services from the chemical industry due to its extensive use in transportation liquid under pressure has stimulated the market growth. Screw compressor rental largely finds its application in the mining industry for scaling, boring, refuge station air, tire filling, workshop service, and air and pneumatic conveying. With the developing mining industry, the market is expected to flourish.
On the contrary, fluctuations in the prices of steel material are anticipated to deter the market growth throughout the appraisal period. The volatile prices of the raw materials are another factor which is likely to curb the growth of the market. Despite such potential risk factors, the market is set to soar high with the advent of new-age compressors. These compressors are implemented with differentiated speed technology with an energy-efficient operation.
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Competitive Dashboard
The prominent players operating in the global screw compressor rental market comprises United Rentals Inc. (U.S.), CAPS Australia (Australia), Caterpillar Inc. (U.S.), Metro Air Compressor (U.S.), Kaeser Kompressoren SE (Germany),Atlas Copco AB (Sweden), Ingersoll-Rand plc (Ireland), Lewis System (U.S.), Air Energy Group LLC (U.S.), Stewart & Stevenson LLC (U.S.), Aggreko plc (U.K.), and BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG (Germany).
Global Screw Compressor Rental Market: Segmental Analysis
The global screw compressor rental market has been segmented on the basis of type, portability, stage, and end-users.
By mode of type, the global screw compressor rental market has been segmented into oil-injected screw compressor and oil-free screw compressor. Among these, the oil-injected screw compressor type commands for a larger share in the global market as these types act as an insulator to seal the gaps and also maintain the temperature during continuous actions of industrial machines.
By mode of portability, the global screw compressor rental market has been segmented into stationary and portable. Among these, the portable segment is predicted to generate higher revenues owing to being a viable solution for long-term as well as short-term rental agreements.
By mode of stage, the global screw compressor rental market has been segmented into single stage and multi stage.
By mode of end-users, the global screw compressor rental market has been segmented into oil & gas, manufacturing, power, construction, chemical and mining. Among these, the construction segment occupies the major share in the global market. The growth can be ascribed to the rapid urbanization and surging rate of migration of people to the cities.
Regional Insights
Geographically, the screw compressor rental market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Considering the global scenario, the Asia Pacific region is likely to have the upper hand owing to the rapid industrialization in the emerging economies and the surging need for efficient machinery and tools. China is considered to be one of the biggest economies in this region as the nation is creating opportunities for investment in industrialization. The country has also been ranked the third largest FDI recipient in the world. The potential-rich industries in this country are using the rental services of air compressors comprise food & beverage, air treatment, manufacturing, and transportation, thereby contributing to the growth of the market.
North America is likely to dominate the global market for screw compressor rental with a share of 38.5%. The region is predicted to outperform globally due to the aging equipment failures coupled with the need or replacement. With the growth in refining and petrochemical sectors, changing requirements of emissions, and potential growth of the manufacturing, mining, and coal sectors, the market is likely to flourish in this region. Moreover, technological innovations like the implementation of variable frequency drives and global positioning systems are likely to encourage the market growth in the long run.
Table of Content:
- Report Overview
- Market Trends and Competitive Landscapes
- Segmentation of Screw Compressor RentalMarket by Type
- Segmentation of Market by End-Users
- Market Analysis by Major Regions
- Product Commodity of Market in Major Countries
- North America Screw Compressor Rental Landscapes Analysis
- Europe Screw Compressor Rental Landscapes Analysis
- Asia Pacific Screw Compressor Rental Landscapes Analysis
- Latin America, Middle East & Africa Screw Compressor Rental Landscapes Analysis
- Major Players Profile
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