- There has been an accelerated demand for compressor rental services in the chemical industry used for transporting liquid under pressure over the years.
- The oil injected screw compressors account for the largest market share in the rental market for screw compressors.
- On the other side, volatility in the prices of raw materials may curb the market growth to some extent.
Market Research Future Published a Cooked Research Report on Global Screw Compressor Rental Market Research Report. The worldwide screw compressor rental market is set to reach the valuation of $3 million by 2023. Rising demand for modified rental air solutions to meet the needs of the industry coupled with the growing usage of customized air compressor rental systems in the medical, construction, and oil & gas end-user industries have significantly buoyed the market globally.
There has been an accelerated demand for compressor rental services in the chemical industry used for transporting liquid under pressure over the years. The stimulated growth of the mining equipment market in the past few years has played a crucial role in fueling the growth trajectories of the global compressor rental market. Screw compressor rental finds its usage in the mining industry for boring, scaling, tire filling, refuge station air, workshop service, air and pneumatic conveying, among other functions. In other words, growth in mining activities has and will continue to fuel the demand for compressed rental, working in favour of the global market.
Screw Compressor Rental Market to surge at 5.73% CAGR and reach remarkable value by 2023, according to Global Screw Compressor Rental Market Analysis Report published by Market Research Future.
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On the other side, volatility in the prices of raw materials may curb the market growth to some extent. However, despite the potential risk factors, the market is soaring high on the back of the introduction of new-age compressors. These compressors involve usage of differentiated speed technology with an energy-efficient operational nature. Global players are consistently engaging in technological innovations and product enhancement to improve the appeal of their products and solidify their position in the market. For instance, AERZEN’s Delta Hybrid has developed the world’s first range of rotary lobe compressors that can create positive as well as negative pressures for air and other neutral gases.
Global Market for Screw Compressor Rental– Segmental Analysis
MRFR’s report offers a detailed analysis of the market on the basis of type, portability, stage, end-user, and region.
By type, the market is segmented on the basis of oil-injected screw compressor and oil-free screw compressor. The oil injected screw compressors account for the largest market share in the rental market for screw compressors. Oil-injected screw compressors help seal gaps, and role as an insulator, and maintains the optimal temperature during compression. These advantages ensure its application in numerous end-use industries such as the mining industry, power plants, and packing & palleting. Other benefits of oil-injected compressors also include high reliability, lower maintenance costs, no extra foundations, and noiseless operations.
By portability, the market is segmented into stationary and portable. The portable screw compressors have a high demand in the market as they are an ideal solution for both long-term and short-term rental agreement. As the name suggests, portable screw compressors are designed in a way so they can be easily moved from one place to another.
They are lightweight and available with various compressing capacities according to the requirements in the project. They are also built to be mounted easily on the carriages and apt for all environments. In addition, their wide use in several heavy-duty industries such as mining, shipyard, oil and gas exploitation, borehole, hydropower, construction, chemical, and pipeline pressure test can bode well for the segment. Moreover, portable screw compressors are easy to operate and capable of compressing air at higher pressures and rendering them better solutions for rental services.