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Technavio’s market research analysts have predicted the global compressor rental market to grow at a steady CAGR of close to 7% over the forecast period. With the revival of the mining equipment market, the market for compressor rental is envisaged to have a positive outlook over the forecast period. Lately, the mining industry has been facing a challenging situation due to reduced investments and weak demand from major regions, including North America and Europe. From 2017 onward, the mining industry is likely to grow steadily, which will encourage the mining equipment manufacturers to increase their CapEx. Moreover, unexplored markets such as Latin America and Africa are envisaged to become potential new markets for mining equipment manufacturers. The increasing demand for precious metals like gold, silver, and platinum and coal will lead to an augmented demand for mining equipment like continuous machines, longwall machines, hydraulic shovels, and cable shovels. Furthermore, the increasing demand for mining equipment will bolster the demand for rental compressor services since the mining industry is considered to be a one of the most significant end-user of compressor rental services.
In this industry research report, the analysts have estimated factors such as the introduction of next-generation air compressors will contribute to the growth of this market in the coming years. The leading vendors in the market are constantly innovating product offerings to differentiate their products in a highly competitive market. Extensive research and development have enabled compressor manufacturers to develop new-age compressors that make use of variable speed technology and also have a particular drive that controls the speed. Moreover, the compressors with variable speed technology are energy efficient and which is attributed to its continuous and real-time operational nature. Therefore, the new compressors with variable speed drive technology are far superior to fixed speed air compressor and also consumes very less energy, which will drive the growth of this market until the end of 2020.
During 2015, the construction segment dominated the compressor rental market and accounted for more than 30% of the market share. The construction industry extensively uses portable diesel-driven air compressors for operating pneumatic tools, concrete spraying, blasting, and piling. The global construction market is expected to witness steady growth during the predicted period, especially in countries like India, China, and the US. Therefore, significant growth opportunities in the construction industry in other emerging nations will bolster the growth prospects for this market in the future.
During 2015, APAC led the global compressor market and accounted for more than 41% of the market share in terms of revenue. The compressor rental market in APAC is flourishing because of the presence of several end-user firms that are capital-intensive and prefer renting compressors rather than spending on their procurement. Moreover, most countries in APAC like India, China, Indonesia, Thailand, and Malaysia, and the Philippines will see significant construction activities during the forecast period, thereby contributing to the growth of this market in APAC.
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The global compressor rental market is dominated by international players such as Ingersoll Rand and Caterpillar. Several local players operate out of regional markets and have advantage over the global players in terms of pricing. However, the local vendors are often unable to face the competition in terms of scale or technically demanding projects. The market competition is expected to intensify during the forecast period with an increase in product extensions, technological innovations, and mergers and acquisitions.
The report offers a detailed analysis of several leading companies, including:
Other prominent vendors analyzed in this market research report are ACME Fab-Con, AirParts Compressores, Ar Brasil Compressores Blueline Rental, Cramo, Coates Hire, and Ramirent.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-users
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
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