Compressor Rental Market To Generate $7,439.6 Million Revenue by 2030

The global compressor rental market revenue is expected to reach USD 7,439.6 million by 2030, exhibiting a CAGR of 5.7% during 2024–2030.

This growth is due to the increasing construction activities all around the world and the efforts by companies to bring innovative rental solutions in the market. The construction industry has a wide variety of applications for compressors, thus propelling the demand for rentals. In addition, with the growing environmental concerns and focus on sustainable development, the demand for energy-efficient and technological advanced air compressors is further propelling the growth of the market.

Compressors are used in a variety of applications, from powering pneumatic tools to providing compressed air in refrigeration systems and air conditioners. The rampant global warming is creating a massive demand for air conditioning systems, which is ultimately enhancing the demand for compressors. Further, with the growing prevalence of diseases globally, the need for nebulizers, dental chairs, and medical air systems is on the rise. As all these pieces of equipment employ compressors, the need to rent them on a temporary basis is elevating.

Further, the world’s population is on the rise, specifically in Asia-Pacific, which houses the two most-populous countries: India and China. This expansion leads to a massive demand for buildings for both residential and commercial purposes. The building & construction sector is the primary user of compressors owing to the requirement for pressurized air for a variety of purposes and machines.

Moreover, rental companies are coming up with new, customized rental plans, to provide their users with what they specifically need. These new rental plans enable users to choose from a wide range of reasonably priced products. Moreover, the top players in the market are entering into collaborations or buying small players to strengthen their position. For instance, Atlas Copco acquired National Pump & Energy, a company offering environmental services and water treatment solutions, in June 2023.

Electrically Driven Variants Witnessing Significant Demand

The electrically driven category is expected to experience a considerable CAGR in compressors rental market, of 5.7%, during the forecast period.

This is due to electric drive-type compressors’ higher energy efficiency in comparison to the traditional diesel- or gasoline-powered compressors. These variants are also inexpensive and easy to maintain. The surging focus on sustainability and energy efficiency as a result of the strict regulations implemented by governments all around the world drives the market in this category.

Since these compressors produce zero emissions, they align with the emission standards implemented to mitigate air pollution and greenhouse emissions. They also provide quieter operations compared to other variants, which is of great importance if used in or near noise-sensitive residential or commercial areas. Electricity is easily available for industrial and commercial areas, making electrically driven compressors more feasible. These variants also have easy starting procedures, need less routine maintenance, and possess few components susceptible to wear and tear, thus adding to their wide usage.

North America Accounted for Second-Largest Share

North America holds the second-largest share in the market, due to its advanced end-use industries and strict government regulations regarding sustainable development and carbon footprint reduction.

The construction sector has wide applications for compressed air, thus leading to a surge in the demand for compressor rental services. Similarly, the oil & gas industry of the U.S. continues to evolve and grow. The significant investments in the search and extraction of hydrocarbons are leading to an increasing demand for compressors. This industry is greatly dependent on compressors to power drilling and suction equipment, to find and extract oil & gas reserves, respectively. Moreover, these devices have an important role in well testing activities, wherein they help in testing pressure and fluid displacement. Thus, with the expansion of this industry, the demand for compressors is surging.

Top compressor rental market players are Atlas Copco, United Rentals Inc., Ingersoll Rand Inc., Caterpillar Inc., Herc Rentals Inc., Ashtead Group Plc, Loxam Group, Aggreko Ltd., H&E Equipment Services Inc., and HSS ProService Limited.