HVAC Rental Equipment Market Size, Demand & share with Leading Players – Aggreko, Carrier, Johnson Controls and More
The HVAC Rental Equipment Market is projected to register a CAGR of 5.43% by 2028, to reach USD 7.02 Billion in 2028 from USD 4.07 Billion in 2018. The increasing demand from the food and beverage industry is one of the main drivers of this market. In expanding economic opportunities, the food and beverage industry plays a key role. The industry is recording growing changes in the pattern of consumption. The increasing disposable incomes of people, especially in APAC, are driving change.
The latest market-driven trend is increasing strict regulations on the use of refrigerants in Europe. In many countries around the world, the growing demand for manufactured refrigerants for use in air conditioners is a major concern. These refrigerants are an important source of greenhouse gasses contributing to global warming worldwide.
Low preference for rental services is one of the main factors that hinder this market’s growth. One of the main challenges affecting the growth of the global HVAC rental market is that people still tend to buy and sell equipment after its intended purpose has been met.
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The significant players in the HVAC Rental Equipment Market includes Aggreko (UK), Carrier (US), Johnson Controls (US), Trane (Ireland), Sunbelt Rentals (US), United Rentals (US), Cool Breeze Rentals (Australia), Hertz Equipment Rental (US), HVAC Rentals (Canada), Reliance Commercial Solutions (India), and Temp-Air (US).
Further key findings from the report suggest
- The HVAC Rental Equipment Market is projected to grow at a rate of 5.43% by 2028, to reach USD 7.02 Billion in 2028 from USD 4.07 Billion in 2018. The increasing demand from the food and beverage industry is one of the main drivers of this market. In expanding economic opportunities, the food and beverage industry plays a key role. The industry is recording growing changes in the pattern of consumption. The increasing disposable incomes of people, especially in APAC, are driving change.
- The industrial segment dominated the market and accounted for more than 56% of market share in 2018. This segment will remain the largest segment and by 2026 it is expected to reach more than USD 4.8 Billion. Factors such as the growing demand for nuclear-powered HVAC systems and mining sectors stimulate the growth prospects of this market segment in the coming years. In addition, strict food and beverage industry regulations will further drive this segment’s growth prospects
- North America dominated the market for commercial HVAC leasing equipment and accounted for almost 45% of the market share in 2018. The US is the main generator of revenue and the rapid growth of the construction industry and an increase in LEED buildings will drive growth prospects in the Americas for the HVAC rental market.
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This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2020 to 2028. For the purpose of this study, Reports and Data have segmented the HVAC Rental Equipment Market on the basis of type, application and region:
Type (Revenue, USD Million; 2018-2028)
- Air Conditioner
- Heating Pumps
Application Outlook (Revenue, USD Million; 2018-2028)
The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report further explores the key business players along with their in-depth profiling, product portfolio, and strategic business decisions. The report has been formulated through extensive primary and secondary research and further validated by analysts, industry experts, and market professionals. The report also sheds light on the recent mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches, among others.
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To summarize, the report titled ‘Global HVAC Rental Equipment Market’ provides a detailed report of the market by extensive research about the companies involved, current market status, drivers and constraints, and current and future COVID-19 oriented scenario. The study explores the historical years to provide insights into market estimation and fruitful opportunities for key players and new ventures.
Key insights presented in the report:
- Market revenue shares by major business players, by type, application, and market scope of global HVAC Rental Equipment market
- Sales revenue by key players and new entrants
- Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
- Recent mergers, acquisitions, product launches, recent investments, and joint ventures
- Regional analysis to provide insight into recent trends and opportunities
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