Screw Compressor Rental Market Research Report – Forecast to 2023

Global 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 2023

ID: MRFR/E&P/4808-CR | July 2018 | Region: Global | 115 pages

Market Forecast


Screw compressors are pneumatic equipment used in compressing gas with the help of rotors. Its advantage over piston compressors owing to its low noise ratio, operational, and maintenance costs has led to its implementation by end-use industries such as oil & gas, construction, medical, and others. The global screw compressor rental market is touted to experience a 5.73% CAGR during the assessment period (2018-2023), driven by increasing demand for customized rental solutions in diverse industrial sectors, as per an insightful market report by Market Research Future (MRFR).


The rising demand for rental equipment and tools owing to power outage is expected to work favorably for the market. Screw compressor rental services are in high demand due to their function as an effective backup for sustaining the production flow. Preference for energy-efficient compressors that are resistive to friction is likely to garner interest among end-users. The revival in the mining industry can bolster market demand over the forecast period. Fluctuations in steel material prices can be a potential deterrent. But the surplus of opportunities in the Asia Pacific can ensure a steady market demand in the coming years.


Report Overview


The report covers the latest factors affecting the market to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts can make highly astute projections. MRFR’s report includes a thorough analysis of the global screw compressor rental market segmented by type, portability, stage, end-user, and region. Trends and opportunities are highlighted coupled with the market share of companies as well as their valuation in the market. It analyzes new revenue sources for players and outlines the various strategies implemented by players.


Segment Overview


Types of screw compressors discussed in the report include oil-free and oil-injected compressors. The oil-injected compressor segment accounted for a large market share in 2017. These act as an insulator to seal gaps and maintain the temperature during repetitive actions of industrial machines. The oil-free segment, on the other hand, has applications in mining and oil & gas for extraction purposes.


By portability, it is segmented into portable and stationary. The portable segment can generate higher revenues than its counterpart due to being a viable solution for short-term and long-term rental agreements. Furthermore, in terms of stage, it is segmented into single-stage compressor and multi-stage compressor. Major end-users in the market include manufacturing, oil & gas, construction, power, mining, and chemical. The construction segment can contribute to market demand owing to rapid urbanization and migration of people to cities. Air compressors are utilized in torque wrenches, screw drivers, and nail guns.


The segments and sub-segments covered in the report are analyzed with respect to four major regions – North America, Europe, Asia Pacific, and the Rest-of-the-World (RoW), with respective country-level market sizing. The benefits of the product “screw compressor” is outlined in the report for a comprehensive understanding of the market. The report discusses the various players involved in the supply and value chain to evaluate future opportunities within the market by delivering an unbiased growth assessment.


Competitive Landscape


Notable players in the screw compressor rental market include Lewis System (U.S.), CAPS Australia (Australia), Metro Air Compressor (U.S.), Stewart & Stevenson LLC (U.S.), United Rentals Inc. (U.S.), Ingersoll-Rand plc (Ireland), Aggreko plc (U.K.), Atlas Copco AB (Sweden), Air Energy Group LLC (U.S.), Caterpillar Inc. (U.S.), BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG (Germany), and Kaeser Kompressoren SE (Germany). These companies are focusing on expanding their reach via partnerships and collaborations.


The report offers comprehensive profiles on these market players and assesses their current standing in the market. Company history coupled with annual turnover, profit margins, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are discussed in granular detail.


Research Methodology


At MRFR, our research analysts conduct a thorough objective analysis of the market when creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with top-level decision makers of various leading companies in the relevant market combined with secondary research provides a thorough analysis of past and present trends in a forward-looking manner. Additionally, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the demand and supply-side. Credible resources are employed to help data analysts to understand nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.


Analysis Period



  • Base Year - 2017

  • Projection Period - From 2018 to 2023

  • Market Denomination - USD Million

  • Conversion Rate - Considered as per the respective financial years


For the scope of research, the report offers a comprehensive analysis of the global screw compressor rental market.


Type



  • Oil-injected Screw Compressor

  • Oil-free Screw Compressor


Portability



  • Stationary Screw Compressors

  • Portable Screw Compressors


Stage



  • Single-stage Screw Compressor

  • Multi-stage Screw Compressor


End-user



  • Manufacturing

  • Oil and Gas

  • Construction

  • Chemical

  • Mining

  • Power


Region



  • North America

    • Canada

    • The U.S.





  • Europe

    • Germany

    • The U.K

    • France

    • Rest of Europe





  • Asia Pacific

    • China

    • Japan

    • India

    • Rest of Asia Pacific





  • Rest-of-the-World (RoW)

    • The Middle East

    • Africa

    • Latin America




 Intended Audience



  • Screw Compressor Rental Original Equipment Manufacturers (OEM)

  • Related Components Providers

  • Government Organizations



Frequently Asked Questions (FAQ) :


The global screw compressor rental market valuation can reach USD 2,993.8 million by 2023.

The global screw compressor rental market is predicted to expand at 5.73% CAGR from 2017 to 2023.

Increasing demand for rental equipment and services and emphasis on energy conservation can drive the market growth.

Dipping prices of steel and aluminum can restrain the global screw compressor rental market growth.

Oil-injected screw compressors can dominate the global market till 2023.

The construction industry can fetch high returns for the global screw compressor rental market owing to infrastructural projects and providing power to construction equipment.

Screw Compressor Rental Market – Summary


Countries across the world are now experiencing robust industrial growth and the credit goes to technological advancements. Sophistication in technology, as it has been proved time and again, ushered in betterment for ongoing modernized manufacturing activities. Screw compressors can be considered exemplary which has integrated sustainability and efficiency in its production.


Screw compressors will work wonders for manufacturing systems and can enjoy a significant growth during the forecast period (2018-2023). Throughout industry verticals, compressed air has proven its worth as the most extensively used form of energy. The current ones are even a step ahead as they are sustainable and focus on energy efficiency. The new models have straight delivery lines, reduced friction, and pressure drop assisting the machine gain traction from all quarters. The compressors are now more sustainable and emit minimal carbon dioxide following the eco-friendliness trend.


Screw compressor systems are highly reliable and exhibit optimum competence and in the process, ensures low maintenance and operation costs. This increases the plant’s efficacy, and in the long run, it covers the initial installation cost difference by a significant margin. These factors can boost the global screw compressor rental market. The mining industry is also giving the market much-needed momentum by generating demand for mining equipment.


However, dwindling raw material prices can adversely impact the market. Steel, aluminum and rubber, essential components for the manufacturing of the screw compressors, often witness volatility causing a fluctuating price of the screw compressors. The result can be a slackening speed for the market.


Segmentation:


By type, the market includes oil-injected screw compressor and oil-free screw compressor. Oil-injected screw compressors are currently the flag-bearers and about to register the fastest growth rate in the coming years. These compressors are more reliable, incurs low maintenance cost, operates noiselessly, and requires no extra foundation which can be considered as a clear advantage over the oil-free screw compressors.


Portability-wise, the market comprises stationary screw compressors and portable screw compressors. Portable screw compressors captured the maximum share of the market in 2017 and are set to witness the fastest growth rate in the foreseeable future. Its portability has given it a black-and-white advantage over the stationary ones. In addition, its easy mountability on the carriages gives it an expedient ground.


Stage-based segmentation consists single-stage screw compressor and multi-stage screw compressor. Multi-stage screw compressors are by far and large the dominant segment, and the scenario is going to remain the same in the coming years as the segment is about to witness the highest CAGR. Advantages such as portability, efficient energy saving ability and advanced integrated features such as variable speed drive and turbo pressure give it an edge over the single-stage ones.


Based on end-users, the market can be segmented into construction, mining, oil & gas, power, manufacturing, and chemical. Construction is considered to be the bellwether as it is holding the maximum share in the market along with the highest projected CAGR during the forecast period.


Regional Analysis:


The region-wise analysis of the market spans North America, Europe, Asia Pacific (APAC) and Rest-of-the-World (RoW).


The APAC is spearheading the global market with 38.5% of the market share and expected to witness the highest CAGR during the foreseeable future. Increasing demand for products and services owing to rising per capita disposable income, along with the popularity of the region as a business hub among the global market players has boosted the prospects of the region. Besides, countries such as India, Singapore, China and South Korea with their foreign direct investment (FDI) and fast track initiative (FTI) tags are also inviting attention from new entrants. China is playing a significant role with the presence of local manufacturers such as TEWATT.


North America is the second largest market, with the industry enjoying robust business due to the presence of several well-structured end-user industries. However, existing players are creating barriers to new entrants, inadvertently stopping the market growth. The U.S. generates the maximum market revenue in the region.


Competition Dashboard:


The FDI influx in the Asia Pacific has grown by 11.7% in 2016 which is opening up a wider horizon with the considerable business prospect for a vast array of companies. The impact of the infiltration of advanced technologies made it feasible for the region to experience a revamping of the existing industries. As an immediate effect, economies of the region are coming out of closets and enjoying an unprecedented boom.


Key players influencing the market are Atlas Copco AB (Sweden), Caterpillar Inc. (U.S.), United Rentals Inc. (U.S.), Aggreko plc. (U.K), Ingersoll-Rand plc (Ireland), Metro Air Compressor (U.S.), Lewis System (U.S.), Stewart & Stevenson LLC (U.S.), Kaeser Kompressoren SE (Germany), Air Energy Group LLC (U.S.), CAPS Australia (Australia), BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG (Germany), and others.

Global Screw Compressor Rental Market: Competitive Landscape


Atlas Copco AB (Sweden), Caterpillar Inc. (U.S.), United rental Inc. (U.S), Aggreko plc (U.K), and Ingersoll-Rand plc (Republic of Ireland) collectively accounted for more than 41% of the market share of the global screw compressor rental market in 2017. These companies continue to retain their strong global presence through expansions followed by the partnerships and collaborations.


Atlas Copco AB held the largest market share of 15.3%. Atlas Copco is a multinational company and is a leading provider of sustainable productivity solutions. The company operates its business through four major divisions, which are compressor techniques, vacuum techniques, industrial techniques, and power techniques. Atlas Copco’s compressor technique division offers compressed air solutions, industrial compressors, gas and process compressors, and expanders, air and gas treatment equipment, and air management systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety, and environmental sustainability. The company also offers its compressor equipment on rent for cyclic and seasonal demand from the customers. In June 2017, the company inaugurated a state-of-the-art facility center in Belgium, Europe. The new facility is exclusively built for specialty rental division in Atlas Copco’s construction technique business area. Through this inauguration, the company wants to further strengthen its position in Europe as a complete solution provider of temporary air, power, steam and nitrogen solutions to manufacturing, oil and gas, power and mining customers.


Caterpillar Inc. held a market share of 12.2%. Caterpillar is a multinational conglomerate, and has a firm hold in infrastructure assets. The company has its business segmented in four major industrial divisions, which are construction, resource, energy & transportation, and customer & dealer support. Caterpillar designs, develops, engineers, manufactures, markets and sells machinery, engines, financial products and insurance to customers via a worldwide dealer network. Besides, the company is a leading manufacturer of construction and mining equipment, diesel and gas engines, diesel-electric locomotives, and industrial gas turbines. The company is the one of the most preferred brands for portable screw compressors among the consumers and is widely distributed by the distributors. The companies have strong potential of growth in rental market during the forecast period owing to high demand from the end-use industries.


United Rentals, Inc. is one of the largest equipment rental company in the world. The company operates in two reportable segments, namely general rentals and trench, power and pump. Trench, power, and pump segment includes specialty equipment rentals for underground construction (plus related training services), temporary power, climate control, job site tool rentals and management, and pump equipment. United Rentals operates 997stores in 49 states and 10 Canadian provinces to access one of the world's largest fleets of rental equipment for industrial operations and commercial contractors. United Rentals (North America) Inc., United Rentals Trust I, United Rentals Finance, LLC are some of the subsidiaries of the company.


Aggreko Plc is one of the major providers of rental, mobile power, heating, cooling, and related services, worldwide. The company operates in two business segments namely Rental Solutions, and Power Solutions. The company operates in more than 80 countries such as U.S., India, U.K, and Canada, through 193 sales and service centers and with around 6,000 employees working for them. It serves the various sectors of agriculture, construction, contracting, data centers, events, facilities management, food and beverage, government services, manufacturing, mining, oil and gas, petrochemical and refining, pharmaceuticals, renewable energy, shipping, telecommunications, and utilities.


Ingersoll-Rand is a public limited, diversified global company, which was incorporated in 2009. The company offers products, services and solutions for two major business segments, which are Climate and Industrial. The company offers its products for enhancement in quality, energy efficiency, comfort of air in homes, buildings, transport, food & perishables protection, and improve industrial productivity. The company is involved in business activities such as design, manufacture, sale, service, and rental service of a diverse portfolio of industrial and commercial products. Under the climate segment, the company offers heating, ventilation and air conditioning (HVAC) systems, and commercial and residential building services, parts, support and controls; energy services and building automation. The industrial segments deals with compressed air and gas systems and services, power tools, material handling systems, fluid management equipment, as well as golf, utility, and low-speed consumer vehicles.


The global screw compressor rental market is characterized by the presence of many global, regional, and local players. The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality rental screw compressor, to survive and succeed in an intensely competitive market environment. Extensive growth in screw compressor rental market has brought to light that new product development on large scale to stay in competitive market, is a key strategy adopted extensively by the players with a share of more than 50.0%, to spread their geographical presence and improve operational efficiencies. Partnerships and collaborations is also a major strategy adopted by the major players in the global screw compressor rental market with a share of more than 25%. This strategy is widely adopted to increase the market share of the company across the globe.