The compressor rental market is projected to reach USD 5.53 Billion by 2026, at a CAGR of 6.4% from 2016 to 2026. This growth can be attributed to increased demand for customized air rental solutions to meet specific industrial requirements. The customized air compressor rental systems are used in varied end-use industries, such as oil & gas, medical, and construction, among others. Atlas Copco, Ingersoll Rand, Hertz Equipment Rental Corporation, and United Rentals, Inc., among others are the leading players operating 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 since 2015. 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.
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These key players operational in the compressor rental market are focusing on new product launches, expansions, and acquisitions to cater to the increasing demand for compressor rental from varied industries. Atlas Copco reported the largest number of developments in the compressor rental market between 2011 and 2016.
In August 2016, Atlas Copco acquired Schneider Druckluft GmbH, a leading manufacturer of professional compressed air solutions with a large network of retailers. This acquisition is expected to strengthen position of Atlas Copco in the Germany compressor rental market. In May 2016, Atlas Copco acquired compressor business of Kohler Druckluft, which operates in Austria, Switzerland, and Liechtenstein. This acquisition resulted in Kohler Druckluft becoming part of the compressor technique business of Atlas Copco. This acquisition aims at improving customer interaction of the company in the central Europe. The company launched GA VSD+, which are oil-injected and oil-cooled rotary screw compressors. These new compressors are capable of reducing energy consumption to half as compared to traditional compressors.
Ingersoll Rand, a leading player in the compressor rental market, launched new contact cooled rotary screw air compressors, which offer high reliability, efficiency, productivity, and serviceability. These compressors can be used in various industries, such as textile, sugar, rubber, general machinery, automobile, engineering, fabrication, and cement, among others.
In November 2016, United Rentals, Inc. expanded its specialty branch network by opening six additional branches in the U.S. and one in Canada. These expansions are expected to help the company in further strengthening its presence in the U.S. compressor rental market.
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