Global Compressor Rental Market Report and Forecast 2024-2032

Global Compressor Rental Market Size

The global compressor rental market reached a value of nearly USD 4.47 billion in 2023. The market is projected to grow at a CAGR of 4.5% between 2024 and 2032 and reach around USD 6.64 billion by 2032.

Key Takeaways

• There is an increased demand for customised compressors across various end-use industries such as construction, mining, and oil and gas industries.

• Aggreko Ltd, Atlas Copco AB and Ingersoll Rand Inc. are a few of the major companies in the market.

• According to industry reports, by 2050, the global energy demand is expected to rise by 15%. The growing global population and the subsequently increasing energy demands are driving the requirement for compressor renting.

The renting of compressors allows companies with budget constraints to meet their financial requirements and ensure stable manufacturing productivity and uptime. There is a rising use of portable air compressors in a wide range of industries for applications such as powering pneumatic tools in car systems, construction sites and farms, and air conditioners and pumps as they are easy, cordless, and compact solutions.

One of the factors driving the compressor rental market growth is the affordability associated with renting compressors. Compressor rentals are being adopted by industries to meet the increased seasonal demands, contributing to efficient and cost-effective fulfilment of high-volume orders. Rental compressors provide end users with the latest improvements in safety, performance, and efficiency affordably.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Key Trends and Developments

Cost-efficiency of renting compressors; rising demand for portable air compressors; rising demand for customised compressors; and rising energy demand are favouring the global compressor rental market growth

April 2023

Atlas Copco acquired the compressed air operations of Asven S.R.L located in the Rosario region of Santa Fe province. The acquisition encompasses the sales, installation, and maintenance of compressed air systems.

November 2022

Atlas Copco acquired the operational assets of Northeast Compressor, a provider of air compressors, equipment, and services to industrial clients located in Upstate New York, USA.

October 2022

Atlas Copco expanded its geographic presence by acquiring Vector Sp. z o.o., a compressed air systems sales, installation, and maintenance company based in Tarnowo Podgórne, Poland.

August 2022

Holt Cat's subsidiary, Texas First Rentals, acquired Class A Equipment Rentals, a Texas-based construction equipment rental company. The acquisition adds to Texas First Rentals' product portfolio, consolidating its position in the construction equipment rental market.

Cost-Efficiency offered by compressor renting

The renting of compressors allows for the use of the equipment for a specific duration of time under a fixed price.

Rising application of portable air compressors

There is the rising use of portable air compressors in a wide range of industries for applications such as powering pneumatic tools in car systems, construction sites and farms, and air conditioners and pumps as they are an easy, cordless, and compact solution.

Growing demand for customised compressors

There is an increased demand for customised compressors across various end-use industries such as construction, mining, and oil and gas industries. Companies are offering easy-to-set-up compressors suitable for customer requirements and the demands of the production sites.

Growing energy demand

The increasing global population is fueling the energy demand. The expanding oil and gas sector, thus, aids the growth of the rental compressors market as it requires compressed air from transportation to using pneumatic tools.

Compressor Rental Market Trends

Renting compressors can offer operators additional advantages, including decreased equipment maintenance expenses, the flexibility to customise air compressor performance according to specific processing requirements, and lower capital investments. As a result, the use of compressors, particularly air compressors, in the oil and gas sector to ensure proper operating conditions, is rising.

Furthermore, compressor rental providers are offering value-added services, including equipment transport, re-rental options, fleet management, on-site services and more to enhance customer experiences. With the growing trend of sustainability, the use of rental compressors powered by electricity is anticipated to increase.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Compressor Rental Industry Segmentation

Global Compressor Rental Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type:

• Centrifugal

• Reciprocating

• Rotary Screw

Market Breakup by Compressor Type:

• Air Compressor

• Gas Compressor

Market Breakup by End Use:

• Mining and Construction

• Oil and Gas

• Utility

• Chemical

• Manufacturing

Market Breakup by Region:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Rotary screw is expected to dominate the compressor rental market share as it offers a competitive advantage to manufacturers of end-use sectors.

Rentals of reciprocating and rotary screw compressors are quite popular because they can assist firms meet seasonal production demands, minimise equipment downtime from unplanned breakdowns, and maintain output levels during periodic maintenance and outages.

The availability of suppliers who provide a full service-oriented approach that combines great on-site knowledge with a range of compressor systems to meet end users' needs efficiently in terms of both cost and time supports the demand for rotary screw compressor rentals.

The availability of rental centrifugal compressors with advanced impeller designs provides advantages to end users in terms of reliability, durability, efficiency, and minimal maintenance requirements.

Competitive Landscape

Major players in the compressor rental market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge

Aggreko Ltd

Aggreko Ltd, headquartered in the UK and founded in 1962, offers a range of rental compressors that fulfill market requirements. These compressors include the 400 cfm, 800 cfm, 1600 cfm electric compressors, as well as the 1500 cfm diesel compressor, 1600 cfm diesel compressor, 1500 cfm electric compressor, among others.

Atlas Copco AB

Atlas Copco AB, headquartered in Sweden and founded in 1873, provides a diversified portfolio of rental compressors for air, nitrogen, or water applications. Its product offerings include oil-free air compressor rentals, oil-lubricated air compressors, booster compressors, and other related products.

Ingersoll Rand Inc.

Headquartered in USA and founded in 1872, provides rental services for air compressors, including oil-flooded rotary screw compressors, oil-free rotary screw compressors, refrigerated dryers, and desiccant dryers. Its rental offerings are tailored to meet the needs of customers seeking efficient and reliable compressor solutions.

Caterpillar Inc.

Headquartered in the USA and founded in 1925, offers compressor rental services through its Cat Rental Store, which falls under its air equipment rentals category. Its rental offerings include gas- and diesel-powered portable air compressors, available in various sizes and configurations.

Other key players in the compressor rental market include Herc Rentals Inc.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Compressor Rental Market Analysis by Region

The increasing non-residential construction activities, the growing capital investments in the industrial sector, and surging repair, maintenance, and overhaul spending are favouring the demand for compressor rentals in North America. In 2023, there was an 18.1% year-over-year increase in the seasonally adjusted rate of non-residential construction investment overall.

In Europe, the need for rental compressors has increased due to their widespread application in the construction sector, which is booming in Germany, as well as in the maintenance and upgrading of already-existing manufacturing facilities. With the largest building stock on the continent, Germany is the largest construction market in Europe and is expected to grow by 1% in 2024.

In the Asia Pacific, rising manufacturing activities, the robust growth of the oil and gas sector, and rising chemical and automotive production have favoured the compressor rental market growth. Due to favourable government regulations aimed at boosting manufacturing and construction activities, compressor rentals are gaining popularity in the Asia Pacific. Expanding manufacturing facilities in countries, including China, India, and Japan, necessitates the employment of compressor rental to meet seasonal demand.

Key Highlights of the Report

Compressor Rental Market Report Snapshots

Compressor Rental Market Size

Compressor Rental Market Trends

Compressor Rental Companies

Compressor Rental Market Regional Analysis