The past year has treated us well at Air Equipment Rental. We have opened a new branch in Houston, TX, had some of our best sales numbers on recond, and are optimistic about the future. However, we are not complacent in our progress. We realize that as our industry and customers’ needs evolve, we will continue to grow alongside them.
Nevertheless, for Air Equipment Rental to further develop, we largely look at how the air compressor industry is doing as a whole, and we’re happy to say that it is doing quite well. According to Zion Market Research, the air compressor industry was worth $30.84 billion in 2016, and that number will continue to rise. In the same report, it was found that by 2022, the global air compressor market will account for $38.79 billion.
It is also important to note that a large contributing factor to the strong compressor market is the growth of rotary air compressor technology, which is used in our machines. Rotary-based air compressors are capable of delivering very high pressure, making them especially useful in heavy industry. On top of this, Zion Market Research also reports an increasing need for more efficient and eco-friendly compressors, which we can provide with systems like Doosan’s IQ Air technology.
No only do we have the machines our customers need, but we also have them where they’re going to be needed. The report states that Latin America will be one of the largest growing markets for air compressor use in the next six years, and if you recall, we have just opened a new branch in Houston, TX. This was intentional, as we saw the growing need of our customers for air compressors in both the Southwest and in Latin America. As a matter of fact, Air Equipment Rental has already been involved with jobs on the Baja peninsula that required several of our high pressure units, and we expect to see continued success in the region.
Overall, 2016 gave us a lot to be excited about, and the direction of the market makes us even more optimistic about our future. As Air Equipment Rental continues to provide the same outstanding service and equipment that you have come to expect, we promise to also grow and progress alongside you, our customers.