Compressor Rental Market Growth and Demand Analysis
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Explore the dynamic Compressor Rental Market, where portable compressed air solutions are meeting the immediate and flexible needs of industries like construction, manufacturing, and energy, promoting efficiency and reducing downtime. Dive into the latest trends, applications, innovations, and key players shaping the future of the compressor rental market.
The compressor rental market is estimated to generate USD 5,104.2 million in 2023, which will touch USD 7,439.6 million, progressing at a 5.7% compound annual growth rate, by 2030. The progression of this industry is because of the extensive application of compressors across different sectors, including automotive, aerospace, construction, and manufacturing. Moreover, the demand for energy-effective compressors is also increasing, and rental businesses are putting more effort into leveraging this. The rotary screw category, on the basis of type, is leading the industry, with a 60% share, and it will continue this trend during this decade. This can be because of their greater effectiveness, due to their more constant compressed air flow, which led to less energy loss. Furthermore, the reciprocating category will also be a significant contributor to the industry, in 2023. This is because these alternatives are extensively utilized in small businesses and are suitable for three-phase or single-phase AC. Moreover, they are mainly employed where air is required in small volumes or not required constantly.