May 2, 2024
Metal Industry and Rental: Going from strength to strength together.
Iron and Steel is one of the leading industries that helps define the future course of a country with its global spread, distribution and network thanks to the industry-wide rising demand across a number of different segments of the society. The global steel market size was valued at USD 927.66 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 2.8% from 2023 to 2030.
In 2023, the output increased by 3.6% helped by the reopening of the Chinese economy and decreased energy prices. This year again looks robust with a slight but strong growth as the global construction sector has rebounded post-recession in almost all developed countries.
With steel being the backbone of every mega-structure on one hand, to being a core essential requirement for almost all the medium-sized to small tools and equipments on the other, it is imperative to understand one fundamental aspect of the industry – there can be shift in demand any time.
Here is where Atlas Copco’s Specialty Rental Services saves the day.
Metallurgy and metalworking processes require our compressors and generators for a reliable supply of air and power conditioned to exact needs. And since volatility being an inherent part of the steel industry, our rental services offer the perfect solution where being a business owner, you can scale up or down your equipment in no time, any time.
Our rental compressor range covers a wide variety of metal processing applications for both planned and emergency shutdown situations - this is essential as oil-free air is required to keep precious metals pure, or simply oil injected, from 0.3 bar up to 15 bar.
Accounting for the largest revenue share of 69.5% in 2022, Asia Pacific dominates the market and is expected to expand at the fastest CAGR of 3.1% in the coming years. This clearly shows the demand for steel is on the rise, which also means the requirement could go up any time and remain that way for a while.
Let’s explore ideas on how Rental can offer complete peace of mind despite the industry being dynamic with our industry expert Saurabh Saxena, who keeps a keen eye on the shifting trends of the Steel industry.
How do businesses cater to the sudden rise or fall of demands in the steel industry?
Atlas Copco Specialty Rental offers a number of different solutions and services that cater to several industries and enterprises. We have specialized in agility, as we understand how crucial it is for businesses to adapt to the changing landscape swiftly. Business owners should make sure they smartly scale up or even scale down as per the shifting dynamics, for which we help you by bringing in the agility for your operations. And Atlas Copco’s BOOM Services: Long-term Rentals offers the freedom to move away from stagnation and adapt agility for your enterprise.
Does the metal industry get affected with changing seasons?
Seasons may not affect the metal industry directly, but definitely it changes the demand - supply chain indirectly. This is because of the construction landscape, the highest consumer for metal products, where volatility comes in. If your business deals with a construction company or any other industry where the demand could either go up or down as per the season, we can help you scale up or down quickly and swiftly.
What other benefits does Rental offer?
One of the biggest benefits other than the products and agility we offer, is the planning before delivery and after-market services and maintenance. Our expert teams follow a well-defined process to ensure our proposed solutions solve the challenges your business is facing, and helps you in focusing on the growth, rather than the problem areas. Our rental services include regular maintenance and necessary repairs. We ensure that the equipment is in optimal condition throughout the rental period for uninterrupted operations. That’s why we at Atlas Copco’s BOOM Services: Long-Term Rentals, takes complete equipment responsibility which helps reduce the burden on the business owner.