Screw Compressor Rental Market worth USD 6.18 Billion by 2027, registering a CAGR of 5.73% – Report by Market Research Future (MRFR)
New York, Aug. 17, 2021 (GLOBE NEWSWIRE) — Screw Compressor Rental Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Screw Compressor Rental Market by Type, Portability , Stage, End-user and Region – Forecast till 2027 ” the market size is projected to be worth USD 6.18 Billion by 2027, registering a CAGR of 5.73% during the forecast period (2021 – 2027).
COVID-19 Analysis
The effect of the COVID-19 flare-up has been highly critical of most of the MSMEs in the assembling area due to diminished exercises brought about by social separating measures and lockdown and lessening in the neighborhood and worldwide interest because of a monetary slowdown. The impact of the pandemic on the single-stage blower is relied upon to be dependable, and it is needed to renew once the mechanical exercises are at pre-COVID levels. This situation is relied upon for showing up close to the furthest limit of the figure time frame. It has also gone through the brunt of the outbreak. Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on this market growth. But following the relaxation of lockdowns, the market is likely to get back into normalcy soon.
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Key Players
Key industry players profiled in the global screw compressor rental industry report include-
- CAPS Australia (Australia)
- Lewis System (U.S.)
- Metro Air Compressor (U.S.)
- United Rentals Inc. (U.S.)
- Stewart & Stevenson LLC (U.S.)
- Ingersoll-Rand plc (Ireland)
- Atlas Copco AB (Sweden)
- Aggreko plc (U.K.)
- Air Energy Group LLC (U.S.)
- BOGE KOMPRESSOREN Otto Boge GmbH & Co. K.G. (Germany)
- Caterpillar Inc. (U.S.)
- Kaeser Kompressoren SE (Germany).
The global screw compressor rental market is fragmented as well as competitive for the presence of several international and domestic key players. Such players have incorporated innovative strategies for remaining at the vanguard and also sufficing the burgeoning demand of the customers including contracts, collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches, and more.
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Drivers
Unexpected Power Outages to Boost Market Growth
The unexpected power outages coupled with deadlines to compete targets by various industries will boost the demand for pneumatic equipment like screw compressors.
Besides, the focus on high productivity and optimization of processes for saving on operational and maintenance costs are also adding to the screw compressor rental market share.
Opportunities
Unexpected Emergencies to offer Robust Opportunities
The sudden breakdown of equipment and unexpected emergencies will offer robust opportunities in the market over the forecast period.
Restraints
High Operational Cost to act as Market Restraint
The high operational cost may act as market restraint over the forecast period.
Challenges
High Maintenance Cost to act as Market Challenge
The high maintenance price will act as a market challenge over the forecast period.
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Market Segmentation
The global screw compressor market is segmented based on end user, stages, types, and portability.
By portability, the portable segment will lead the market over the forecast period for being a viable solution for long-term and short-term rental agreements.
By types, the oil-injected compressor will dominate the market over the forecast period. These act as insulators to seal gaps and maintain temperature during repetitive actions of industrial machines.
By stages, the multi-stage compressor will spearhead the market over the forecast period for their portability & features of turbo pressure as well as variable speed drive offering them a suitable advantage.
By end user, the construction segment will have the lions share in the market over the forecast period for the rapid urbanization, and migration of people to cities. Air compressors are used in torque wrenches, nail guns, and screw drivers. Increased usage of compressors for civil engineering, demolition and road building equipment, and infrastructure development is driving the growth of the segment over the forecast period.
Regional Analysis
APAC to Head Screw Compressors Rental Market
The APAC region will head this market in the forecast period. The presence of different developing economies such as China, Singapore, South Korea, and India, increasing foreign direct investment and fast track initiative, the increasing need for services and products owing to the rise in disposable income, constant growth of the mining and chemical industries, and growth of the construction and general manufacturing industries in China, are adding screw compressors rental market growth in the region.
North America to Have Admirable Growth in Screw Compressors Rental Market
North America will have admirable growth over the forecast period. Resurgence of the construction sector, renewal of mining licenses, the increasing inclination of international companies to invest in regional market are adding to the global screw compressor rental market growth in the region. The US has the utmost market share.
Segmentation of Market covered in the research:
Screw Compressor Rental Market by Type (Oil-Injected Screw Compressor, Oil-Free Screw Compressor), Portability (Stationary, Portable), Stage (Single-stage, Multi-stage), End-user and Region – Forecast till 2027
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