1 Global Compressor Rental Market Size Overview by Region 2018 VS 2023 VS 2031
The Compressor Rental market in North America was $156.63 Million in 2018 and grows to $200.75 Million by 2023. This market is growing at a compound annual growth rate (CAGR) of 5.09% over the five-year period from 2018 to 2023. This growth trend is expected to continue and the market size of North America will reach $318.41 Million by 2031, at an expected CAGR of 5.94% from 2023 to 2031.
The Europe Compressor Rental market is valued at $132.06 Million in 2018, increasing to $165.66 Million by 2023. During this five-year period, the market is growing at a compound annual growth rate (CAGR) of 4.64%. The growth momentum in the European market is expected to continue, with the market size reaching $248.98 Million by 2031, at an expected CAGR of 5.23% from 2023 to 2031.
The Asia-Pacific Compressor Rental market was $180.07 Million in 2018 and grew to $235.43 Million by 2023. This market is growing at a compound annual growth rate (CAGR) of 5.51% during the period from 2018 to 2023. This growth momentum is expected to continue in the coming years, with the Asia-Pacific market size growing to $383.22 Million by 2031, at an estimated CAGR of 6.28% from 2023 to 2031.
The Compressor Rental market in Latin America region was $28.80 Million in 2018 and increased to $35.38 Million by 2023. This market is growing at a compound annual growth rate (CAGR) of 4.20% over the five-year period from 2018 to 2023. This growth trend is expected to continue and the Latin America market size will grow to $57.54 Million by 2031, at an estimated CAGR of 6.27% from 2023 to 2031.
The Compressor Rental market in the MEA region was 37.74 Million US$ in 2018 and grew to 45.96 Million US$ by 2023. The market is growing at a compound annual growth rate (CAGR) of 4.02% during this five-year period. This growth momentum is expected to continue in the coming years, with the MEA market size growing to $74.21 million by 2031, at an estimated CAGR of 6.17% from 2023 to 2031.
Table Global Compressor Rental Market Size (M USD) Overview by Region 2018 VS 2023 VS 2031
| 2018 | 2023 | 2031 | CAGR (2018-2023) | CAGR (2023-2031) |
North America | 156.63 | 200.75 | 318.41 | 5.09% | 5.94% |
Europe | 132.06 | 165.66 | 248.98 | 4.64% | 5.23% |
Asia Pacific | 180.07 | 235.43 | 383.22 | 5.51% | 6.28% |
Latin America | 28.80 | 35.38 | 57.54 | 4.20% | 6.27% |
Middle East & Africa | 37.74 | 45.96 | 74.21 | 4.02% | 6.17% |
Total | 535.30 | 683.18 | 1082.36 | 5.00% | 5.92% |
2 North America Compressor Rental Market Size by Country
The U.S., being the leading country in the compressor rental market in North America, has seen its market value grow from $140.50 million in 2018 to $180.11 million by 2023. The market value of the U.S. has continued to grow during this five-year period, demonstrating the strong demand for compressor rental services in the region. Specifically, the market is valued at USD 147.10 Million in 2019, declining slightly to USD 133.49 Million in 2020, before rebounding to USD 150.67 Million in 2021 and further increasing to USD 168.17 Million in 2022. In terms of market share, the U.S. dominates the compressor rental market in North America, with a market share of 89.70% in 2018, a slight decline to 89.67% in 2019, a slight decline to 89.47% in 2020, a slight rebound to 89.56% in 2021, and a continued growth to 89.76% in 2022, and a slight decline by 2023 to 89.72%. These figures reflect the importance of the U.S. in the North American compressor rental market and its leadership position remains strong despite fluctuations in market share. As the U.S. economy grows and demand for compressor rentals increases in the industrial sector, the U.S. market share is expected to remain high.
Canada holds a small but steady share of the compressor rental market in North America. From 2018 to 2023, the market value of Canada has shown a year-on-year growth trend. In 2018, the market value of Canada was USD 16.13 Million, reached USD 16.94 Million in 2019, declined slightly to USD 15.71 Million in 2020, but quickly rebounded to USD 17.56 Million in 2021 and further increased to USD 19.18 Million in 2022 and finally to USD 20.64 Million in 2023. In terms of market share, Canada’s share of the compressor rental market in North America is relatively small but stable, with a market share of 10.30% in 2018, increasing slightly to 10.33% in 2019, increasing slightly to 10.53% in 2020, decreasing slightly to 10.44% in 2021, continuing to decrease to 10.24% in 2022, and by 2023 rebounding slightly to 10.28%. These figures show that despite its small proportion of the overall North American market, Canada has shown steady growth in both market value and share, demonstrating the importance and potential of Canada in the compressor rental sector. As the Canadian economy grows and the demand for compressor rental services increases, Canada’s market value and share is expected to continue to grow.
Table North America Compressor Rental Value by Countries (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
United States | 140.50 | 147.10 | 133.49 | 150.67 | 168.17 | 180.11 |
Canada | 16.13 | 16.94 | 15.71 | 17.56 | 19.18 | 20.64 |
Total | 156.63 | 164.04 | 149.20 | 168.24 | 187.35 | 200.75 |
Table North America Compressor Rental Value Market Share by Countries (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
United States | 89.70% | 89.67% | 89.47% | 89.56% | 89.76% | 89.72% |
Canada | 10.30% | 10.33% | 10.53% | 10.44% | 10.24% | 10.28% |
Total | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
3 Asia Pacific Automatically Medication Dispenses Market Value by Countries (US$ Million) 2023-2028
China holds a prominent position in the Asia-Pacific compressor rental market, which is valued at USD 124.11 Million in 2023, up from USD 93.52 Million in 2018. During this five-year period, the value of the China market has continued to grow, demonstrating the strong demand for compressor rental services in the country. Specifically, the market in China is valued at USD 98.40 Million in 2019, declining slightly to USD 86.87 Million in 2020, before rebounding to USD 101.07 Million in 2021 and increasing further to USD 115.67 Million in 2022. In terms of market share, China holds the largest market share in the Asia-Pacific compressor rental market, with a market share of 51.93% in 2018, increasing slightly to 51.97% in 2019, decreasing slightly to 50.90% in 2020, recovering slightly to 51.75% in 2021, continuing to grow to 52.62% in 2022, and then increasing slightly to 52.62% in 2023, before slightly decline to 52.72%. These figures reflect the importance of China’s position in the Asia-Pacific compressor rental market, and its leadership position remains strong despite fluctuations in market share. China’s market share is expected to remain high as its economy grows and demand for compressor rentals in the industrial sector increases.
Japan holds a strong position in the Asia-Pacific compressor rental market, with its market value growing from USD 26.02 Million in 2018 to USD 33.63 Million by 2023. The growth trend of the Japan market is relatively stable during this five-year period. Specifically, the market is valued at USD 27.31 Million in 2019, declining slightly to USD 25.07 Million in 2020, before rebounding to USD 28.22 Million in 2021 and further increasing to USD 31.47 Million in 2022. In terms of market share, Japan’s share of the Asia-Pacific compressor rental market is relatively stable, with a market share of 14.45% in 2018, a slight decline to 14.42% in 2019, a slight increase to 14.69% in 2020, a slight decline to 14.45% in 2021, a continued decline to 14.32% in 2022, and a market share by 2023 of 14.28%. These figures indicate that Japan has maintained a relatively stable market position in the Asia-Pacific compressor rental market, despite fluctuations in its market share.
Table Asia Pacific Compressor Rental Value by Countries (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
China | 93.52 | 98.40 | 86.87 | 101.07 | 115.67 | 124.11 |
Japan | 26.02 | 27.31 | 25.07 | 28.22 | 31.47 | 33.63 |
India | 19.99 | 21.20 | 19.18 | 22.40 | 25.33 | 27.37 |
South Korea | 14.91 | 15.62 | 14.49 | 16.02 | 17.37 | 18.44 |
Australia | 8.81 | 9.17 | 8.57 | 9.39 | 10.11 | 10.65 |
Southeast Asia | 11.07 | 11.67 | 10.83 | 12.04 | 13.25 | 14.25 |
Others | 5.77 | 6.00 | 5.67 | 6.17 | 6.61 | 6.97 |
Total | 180.07 | 189.36 | 170.68 | 195.31 | 219.80 | 235.43 |
Table Asia Pacific Compressor Rental Value Market Share by Countries (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
China | 51.93% | 51.97% | 50.90% | 51.75% | 52.62% | 52.72% |
Japan | 14.45% | 14.42% | 14.69% | 14.45% | 14.32% | 14.28% |
India | 11.10% | 11.19% | 11.24% | 11.47% | 11.52% | 11.63% |
South Korea | 8.28% | 8.25% | 8.49% | 8.20% | 7.90% | 7.83% |
Australia | 4.89% | 4.84% | 5.02% | 4.81% | 4.60% | 4.53% |
Southeast Asia | 6.15% | 6.16% | 6.35% | 6.16% | 6.03% | 6.05% |
Others | 3.20% | 3.17% | 3.32% | 3.16% | 3.01% | 2.96% |
Total | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
