The screw compressor rental market will grow at a 5.73% CAGR between the forecast period 2018- 2023, states the recent Market Research Future (MRFR) analysis.
A screw compressor is a form of rotary compressor that compresses air on account of screw action. It is driven by engine power takeoffs, internal combustion engines, or electric motors.
Various factors are propelling the global screw compressor rental market share. According to the recent MRFR market estimates, such factors include the growing demand for rental tools and equipment due to power generation outage, increasing use in the mining industry, increase in large industrial applications, need to operate high-power air tools, intensification of industrial applications, and upgradation in operating concepts and infrastructure facilities. Additional factors adding market growth comprise the growing reliance of leading industrial users and packagers on screw compressors, increasing approval of such rental service globally, and rentals reducing the fixed expenses significantly.
On the contrary, the volatility in raw material prices and the current COVID-19 impact may limit the global screw compressor market share over the forecast period.
The MRFR report highlights an inclusive segmental analysis of the global screw compressor rental market based on types, portability, stage, and end users.
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By region, the screw compressor rental market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will lead the market over the forecast period at the highest CAGR. The presence of developing economies China, Singapore, India, South Korea, and India, increasing demand for products and services, rise in disposable income, and increasing fast track initiative (FTI), and foreign direct investment (FDIs) are adding to the screw compressor rental market growth in the region.
In North America, the screw compressor rental market is predicted to have the second-largest share over the forecast period. Aging equipment failures, need for replacement, booming refining and petrochemical sectors, changing emission needs, growth the coal and mining, and manufacturing sector, constant technological advancements like global positioning systems (GPS) and variable frequency drives (VFDs), and presence of several established players investing in smart marketing strategies are adding to the global screw compressor rental market growth in the region. The United States possesses the utmost market share.
In Europe, the screw compressor rental market is predicted to have substantial growth over the forecast period. Flourishing manufacturing and construction sector, presence of capital-intensive firms that prefer to rent air compressors than buying, and market players being involved in developing highly efficient air compressors to stop the concerns about air and noise pollution are adding to the global screw compressor rental market growth in the region.
In the Rest of the World, the screw compressor rental market is predicted to have sound growth over the forecast period.
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Leading contenders profiled in the global screw compressor rental market report include
Tables Of Contents
1 Executive Summary
2 Research Methodology
3 Market Dynamics
4 Global Screw Compressor Rental Market, By Reactor Type
5 Global Screw Compressor Rental Market, By Strategy
6 Global Screw Compressor Rental Market, By Capacity
7 Regional Market Analysis
8 Competitive Analysis
9 List of Tables
10 List of Figures
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