Screw Compressor Rental Market - Future Trends, Demand & Growth!!!
Screw compressors are air compressors which contain male and female rotors rotating in opposite directions for drawing air between them. It runs on positive displacement and has operational and maintenance advantages over piston compressors. The global screw compressor rental market growth by Market Research Future (MRFR) contains insights and novel opportunities for the period of 2018 to 2023 (forecast period). The impact of the COVID-19 pandemic and its implications on the industry are noted in the report.
The global screw compressor rental market size can reach USD 2,993.8 million by 2023. It can exhibit 5.73% CAGR over the forecast period. It can gain traction owing to construction projects being operational in all seasons. The use of rental screw compressors for catering to high product demand and providing a constant stream of air for running processes efficiently can drive the market demand significantly.
The unexpected power outages and deadlines for completing targets by various industries can drive the demand for pneumatic equipment such as screw compressors. The focus on high productivity and optimization of processes for saving on operational and maintenance costs can bode well for the market. Sudden breakdown of equipment and unexpected emergencies can trigger the demand in the global screw compressor rental market.
But fluctuations in steel prices can hamper market growth.
Types of screw compressors discussed in the report are oil-free and oil-injected compressors. The oil-injected compressor segment accounted for a large market share in 2017. These act as an insulator to seal gaps and maintain temperatures during repetitive actions of industrial machines. The oil-free segment, on the other hand, has applications in mining and oil & gas for extraction purposes.
By portability, it is segmented into portable and stationary. The portable segment can generate higher revenues than its counterpart due to being a viable solution for short-term and long-term rental agreements.
Furthermore, in terms of stage, it is segmented into single-stage compressor and multi-stage compressor. Multi-stage compressors are expected to dominate the global screw compressor rental industry owing to their portability and features of turbo pressure and variable speed drive providing them a suitable advantage.
Major end-users in the market include oil & gas, construction, mining, manufacturing, power, and chemical. The construction segment can contribute to market demand owing to rapid urbanization and migration of people to cities. Air compressors are utilized in torque wrenches, screw drivers, and nail guns. Increased use of compressors for civil engineering, infrastructure development, and demolition & road building equipment can drive the segment demand over the forecast period. On the other hand, demand for screw compressors in the mining sector owing to their safety and performance can favor the global screw compressor rental market trends.
North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are regions considered for estimating the prospects of the global screw compressor rental market share.
APAC can lead the global market owing to being a host to major industries and steady demand for goods from the public. It had captured 38.5% share of the compressor rental industry owing to investments in South Korea, Singapore, China, and India.
North America has occupied the second-largest market share owing to the resurgence of the construction sector and renewal of mining licenses. The U.S. is expected to generate the maximum revenue for the market till 2023.
BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, Kaeser Kompressoren SE, Atlas Copco AB, Metro Air Compressor, Ingersoll-Rand plc, Aggreko plc, Caterpillar Inc., Air Energy Group LLC, United Rentals Inc., Lewis System, Stewart & Stevenson LLC, and CAPS Australia are key players of the global screw compressor rental market.
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