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 electrically driven category, on the basis of drive type, will advance at a considerable rate during this decade, of 5.7%. This can be primarily because of its better power efficiency as compared to conventional gasoline or diesel-driven compressors. In addition, these types are also easy to maintain and low-priced.
The construction category, based on industry, will be the largest contributor to the compressor rental market, with a 25% share, in 2023, and it will continue this trend during this decade. This can be ascribed to the advancing construction sector, which extensively utilizes compressed air to power pneumatic tools, including nail guns, jackhammers, air drills, and impact wrenches.
APAC is leading the industry, with a share of 55%, in 2023, and it will remain leading throughout this decade. This can be ascribed to the existence of several developing nations in this region. Moreover, the regional industry is also driven by the presence of rental businesses that offer cutting-edge models with features like predictive maintenance, real-time data analytics, and remote monitoring.
The North American compressor rental industry is the second-largest contributor. This is because of the region's advanced end-use sectors, coupled with the stringent government rules concerning carbon footprint reduction and sustainable development.
