SAN ANTONIO, TX, UNITED STATES, January 9, 2024 – A new analysis by Verify Markets reveals a robust resurgence in the Latin American Air Compressor Rental Market, mirroring the post-COVID-19 trend observed in North America. According to some market participants, 2021 and 2022 marked substantial growth, recording increases of approximately 15.0% and 20.0%, respectively. This surge in demand is linked to extended equipment lead times and deferred facility maintenance during the upheaval caused by the pandemic.
In terms of revenues, the Latin American Air Compressor Rental Market witnessed a year-on-year growth of 10.0% in 2022. However, there has been a gradual slowdown in growth during 2023, bringing the market back to pre-pandemic levels. The market size stood at $197.8 million in 2023, with a projected growth of over $250.0 million by 2030.
As the Latin American Air Compressor Rental Market continues to show significant shifts due to supply chain dynamics. Prolonged lead times for new air compressors and repair parts have stimulated increased demand for rentals, providing advantages to companies with resilient supply chains. However, these dynamics simultaneously present challenges for air compressor rental companies by disrupting manufacturing and expansion plans due to heightened lead times and increased costs for new equipment. Other challenges impacting the market include increased pricing, uncertainties in economic and political landscapes, intensifying competition, and the emergence of environmental regulations.
Despite these challenges, the Latin American Air Compressor Rental Market is poised for growth, propelled by factors such as the advantages of renting equipment, the need for temporary alternatives, urbanization, construction growth, and demand from key sectors like oil & gas.
The Latin American Air Compressor Rental Market report is segmented by equipment type, end user, engine type, horsepower range, and pressure, with primary customers spanning the petrochemical & refining, general manufacturing, pharmaceutical, food & beverages, construction, painting & sandblasting sectors. The construction sector maintains its dominance in the air compressor rental market, commanding over 30.0% market share in 2023, closely followed by general manufacturing.
In a country-level analysis of the region, Brazil's air compressor rental market is the largest among Latin American countries and showcases growth, with an exponential annual increase in machines being sold to rental companies which signals a positive outlook. Mexico, despite a projected lower economic growth of 4.3% in 2024 and 4.3% in 2025, experiences heightened foreign investment in the construction of industrial facilities, contributing to market expansion. On the other hand, Argentina faces challenges due to political and economic uncertainty. Nonetheless, the Argentinean air compressor market anticipates the highest growth among Latin American countries, driven by opportunities in the mining and oil & gas sectors.
Trends in the Latin American Air Compressor Rental Market include escalating rental prices driven by high demand and a highly competitive landscape featuring local businesses, global competitors, multiproduct rental companies, OEMs, and dealers. Research and development is focused on enhancing energy efficiency, with smart compressors offering real-time equipment monitoring through connected devices and IoT solutions.
Some of the key companies covered in the Latin American Air Compressor Rental Market include report include Atlas Copco Inc., Ingersoll Rand Inc., Arlug Brazil, Sullair Argentina S.A., and KAESER Kompressoren SE. This report provides an in-depth analysis of the overall Latin American Air Compressor Rental Market and various market dynamics such as growth drivers, restraints, market revenues and forecasts, technology trends, and a competitive landscape assessment.
A copy of the Latin American Air Compressor Rental Market research report can be obtained at www.verifymarkets.com. Follow us for more updates on Twitter @verify_markets and LinkedIn. This report is part of Verify Markets’ Energy & Power Equipment market research and consulting practice. Other power rental market reports:
- North American Air Compressor Rental Market
- North American Trench Shoring Equipment Rental Market
- North American Temporary Heating Market
- North American Power Rental Market
- North American Temporary Cooling Market
- North American Cooling Tower Market
- North American Pump Equipment: OEM and Rental Markets
- Global Temporary Power Projects Market
- North American Generator Set Market
- North American Temporary Fencing Market
- North American Electrical Distribution Equipment Rental Market
- North American Air Compressor Rental Market
- US Utility-Scale Energy Storage Market
- North American Ground Protection Rental Market
- North American Aerial Equipment Rental Market
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