Impact Analysis of COVID-19 on the Global Screw Compressor Rental market size :
Market Research Future has published a Cooked Research Report on the Global Screw Compressor Rental market size.
Market Synopsis
As per the analysis by Market Research Future Reports (MRFR), the global Screw Compressor Rental market size is estimated to thrive at a CAGR of 5.73% during the forecast period from 2018 to 2023. The global Screw Compressor Rental market size 2020 is primarily driven by the growing demand for customized rental solutions in diverse industrial sectors. The screw compressor rental services are witnessing a rise in demand because of their efficiency in backup for maintaining the production flow. In addition to it, the mining industry also plays an essential role in the expansion of the market. Besides, the increasing inclination towards energy-efficiency compressors, which are compliant to friction, is expected to augment the market further.
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The established packagers and industrials users are increasingly using screw compressors and are renting them for prolonged tenure to support their daily functions. Besides, renting of screw compressors can reduce the fixed expenses. Since it saves funds, the market is estimated to have an upward trajectory in the forthcoming period. However, instability in the cost of steel material is estimated to be a significant cause of obstruction in expansion.
The outbreak of COVID-19 has changed the market dynamics. We will provide COVID-19 impact analysis with report.
Market Segmentation
The global Screw Compressor Rental market size can be classified into portability, types, stages, end-user, and region.
On the basis of portability, the global Screw Compressor Rental market size can be segregated into stationary and portable. The portable segment is estimated to generate higher revenue.
On the basis of types, the global Screw Compressor Rental market size can be segregated into oil-injected compressors and oil-free compressors.
On the basis of stages, the global Screw Compressor Rental market size can be classified into a single-stage screw compressor and stage screw compressor.
On the basis of end-user, the global Screw Compressor Rental market size can be classified into chemical, manufacturing, oil & gas, mining, construction, power.
On the basis of region, the global Screw Compressor Rental market size can be segregated into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
Regional Analysis
The geographical analysis of North America, Asia-Pacific, Europe, and the Rest of the World (RoW) has been conducted. As per the analysis by MRFR, the APAC region is estimated to dominate the global market for screw compressor rental by acquiring 38.5% for the market share. APAC is estimated to expand at the highest CAGR during the forecast period. The developing economies like India, South Korea, India, Singapore, and China have portrayed a significant role in augmenting the market. The region is propelling due to the increasing foreign direct investment (FDIs) and the fast track initiative (FTI). In addition to it, the increasing demand for products and services because of the rise in disposable income.
Moreover, the increasing inclination of international companies to invest in the regional market has additionally propelled the market. The second position is attained by North America. The U.S. has made significant participation in the expansion of the market. However, present companies are restricting entry of startups in the market, which is impeding the expansion of the market.
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Key Players
The forefront players of the global Screw Compressor Rental market size are CAPS Australia (Australia), Lewis System (U.S.), Metro Air Compressor (U.S.), United Rentals Inc. (U.S.), Stewart & Stevenson LLC (U.S.), Ingersoll-Rand plc (Ireland), Atlas Copco AB (Sweden), Aggreko plc (U.K.), Air Energy Group LLC (U.S.), BOGE KOMPRESSOREN Otto Boge GmbH & Co. K.G. (Germany), Caterpillar Inc. (U.S.), and Kaeser Kompressoren SE (Germany). These companies are focusing on increasing their reach with collaboration and partnerships.