The compressor rental market is projected to reach USD 5.53 Billion by 2026, at a CAGR of 6.4% from 2016 to 2026. Growing industrialization and infrastructure development in the Asia-Pacific region offers numerous opportunities for use of air compressors. The key driver for the growth of the Asia-Pacific compressor rental market is the rising demand for compressors from the construction industry.
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Atlas Copco, Ingersoll Rand, Hertz Equipment Rental Corporation, and United Rentals, Inc., among others are the leading players operating in the compressor rental market. These leading players primarily concentrate on acquisitions to expand their geographical reach, globally. The competitiveness in the compressor rental market is increasing due to the growing capacities of companies and an increasing number of agreements taking place between them. Various strategic growth activities have been adopted by key players, such as Atlas Copco, Ingersoll Rand, and United Rentals, Inc., among others to strengthen their position in the compressor rental market. These market players are concentrating more on inorganic growth strategies than organic growth strategies. Expansions and new product launches are some of the key strategies adopted by these leading players to grow in the compressor rental market.
Increasing demand for pneumatic tools in the construction and manufacturing end-use industries is fueling the growth of the compressor rental market. Even though the mining equipment market was experiencing a lull over the past few years, it began to witness a positive trend, in terms of demand for mining equipment. Air compressors are best suited for heavy-duty applications in mining operations. The revival of the mining equipment market is expected to have a positive impact on the growth of the compressor rental market during the forecast period.