Air Compressor Rentals see Double-digit Growth in North America
San Antonio, TX – Verify Markets’ analysis of the North American Compressed Air Rental Market shows that the market is valued in excess of $600 million and is poised to grow exponentially. Compressors have a variety of applications in various industries and sectors –from cleaning raw materials to assisting in designing various parts in a manufacturing process. More information can be found here: http://www.verifymarkets.com/collections/energy-power-equipment/products/2015-north-american-compressed-air-rental-equipment-market.
The market is dominated by the oil-flooded type of compressors, which uses large amounts of oil and diesel. However, this is poised to change, owing to the newer regulations being introduced by the Environmental Protection Agency (EPA) on the emission standards that need to be adhered to by compressor manufacturers. There is also ongoing research on alternative fuels that can be used instead of diesel to reduce emission levels. The growth of this market is driven by certain factors like a strong economy, emergency outages, and customer preferences in renting equipment over purchasing. Major end user segments contributing to major demand include the construction sector and oil and gas sectors. Market restraints faced include lack of trained technicians, shortage of skilled operators, and general lack of awareness amongst end users.
The legislations and regulations also pose to be restraints. Regulations introduced by the EPA are a standard tier structure – Tier 0 to 4, each Tier being progressively stricter regarding the allowable emission levels. Tier 4 Final was the latest set of regulations introduced.
The overall market is mature and competitive, with the presence of regional and national market participants trying to get a stronger foothold in the market. It is poised to grow at double digit growth rate and has great potential.
Key market participants include: Sunbelt Rentals, Atlas Copco Rental Equipment, Aggreko PLC, Hertz Equipment Rentals, Trane Rentals, United Rentals Inc. and several other regional companies.
This report provides an overview of the Rental Compressed Air market in North America (United States & Canada) and has focused on portable oil-flooded compressors, oil-free compressors and other types of compressors sets that range from 5 kW, to larger compressors of up to 1800 kW. The report captures the growth drivers, restraints, trends, market landscape, and supplier landscape and provides strategic recommendations. The study segments the market by equipment type, application, end user and power output.