Compressor Rental Market Poised to Reach $6.2 Billion by 2028 with a Steady 5.8% CAGR| MarketsandMarkets™
The compressor rental market was valued at USD 4.4 billion in 2022 and is projected to reach USD 6.2 billion by 2028, at a CAGR of 5.8% between 2023 and 2028. Compressor rental involves the temporary leasing of compressor equipment for various industrial, commercial, or construction purposes. Compressors are devices that increase the pressure of gases or air to power tools, machinery, or processes. Renting compressors is a cost-effective solution for businesses that require compressed air for a limited time, allowing them to access the necessary equipment without the upfront investment of purchasing. This arrangement provides flexibility, efficiency, and access to reliable compressed air sources, aiding in tasks ranging from construction and manufacturing to event setups and emergency situations. This growth can be attributed to increasing customized air rental solutions demand to meet specific requirements.
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Key players operational in the compressor rental market are Atlas Copco (Sweden), United Rentals, Inc. (US), Ingersoll Rand (US), Caterpillar Inc. (US), Hertz Equipment Rental Corporation (US), Ashtead Group Plc (UK), H&E Equipment Services (US), Loxam Group (France), HSS Hire (UK) are major players in the global compressor rental market. These players focus on acquisition, agreement, investment, joint venture, merger, product launch, expansion, divestment, and partnership to cater to the increasing demand for compressor rental from various industries.
Atlas Copco is one of the major players operating in the compressor rental market. In June 2023, Atlas Copco finalized the acquisition of National Pump & Energy (NPE), a leading provider of dewatering, environmental services, and water treatment solutions in Australia and New Zealand. By adding NPE’s capabilities to portfolio, Atlas Copco strengthens its offerings in these areas, providing customers with a more comprehensive range of solutions for their dewatering and water treatment needs.
United Rentals, Inc. is another largest equipment rental companies in the world. The company has an extensive network of more than 890 rental locations in 49 states of the US and in every province of Canada. In December 2022, United Rentals Inc. completed the acquisition of assets of Ahern Rentals Inc., one of the largest independent family-owned equipment rental company The acquisition enabled United Rentals expand its market share and strengthen its position in the equipment rental.
Caterpillar Inc. is involved in designing, manufacturing, and marketing of construction & mining equipment, diesel & natural gas engines, industrial gas turbines, and diesel-electric locomotives. In September 2021, Caterpillar Inc. acquired Enhanced Energy Group, Inc. operating as “CarbonPoint Solutions,” a US based carbon capture technology company. CarbonPoint Solutions provides technology to concentrate and capture CO2 for utilization or sequestration. The acquisition is part of Caterpillar’s efforts to reduce carbon emissions and enable the cost-effective reduction of CO2 released into the atmosphere with carbon capture technology.
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Ingersoll Rand is a global diversified industrial company, serving commercial and industrial markets. The company offers various brands, such as Ingersoll-Rand, Trane, Thermo King, American Standard, ARO, and Club Car. In December 2022, Ingersoll Rand acquired Everest Blower Systems Private Limited, widely known as the Everest Group which is a prominent player in the Indian market. By this acquisition, Ingersoll Rand aims to strengthen its position in the blower and vacuum pump market, particularly in the Indian region. This strategic move allows Ingersoll Rand to expand its portfolio of offerings and enhance its capabilities to provide tailored solutions to customers in India and beyond.
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