NEW YORK, Oct. 3, 2023 /PRNewswire/ -- The HVAC Rental Equipment Market size is expected to grow by USD 1.80 billion, accelerating at a CAGR of 5.53% during the forecast period. The increasing adoption of cleanrooms spans various industries. These controlled environments meticulously maintain specific conditions like airborne particle levels, air pressure, temperature, humidity, static charges, airflow patterns, motion, and lighting. Their primary purpose is to prevent dirt and dust from adhering to surfaces, ensuring the production of high-quality and dependable electronic and medical end-products. The demand for cleanrooms is set by government regulations and the desire to enhance manufacturing processes and product quality in diverse segments. Cleanrooms are also finding emerging roles in areas such as photovoltaic (PV) solar cell manufacturing, fossil fuel exploration, and battery production. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample
HVAC Rental Equipment Market 2023 – 2027: Key Highlights:
- The report recognizes the following as some of the key players in the HVAC rental equipment market: Aggreko Plc, Air on Location Inc., AIR SOLUTIONS, Andrews Sykes Group Plc, Ashtead Group Plc, Big Ten Rentals, Brookfield Business Partners LP, Carrier Global Corp., Caterpillar Inc., City Air Toronto Air Conditioning and Heating, Entech Sales and Service LLC, Gal Power Systems, Herc Holdings Inc., HVAC Rentals, Ingersoll Rand Inc., Johnson Controls International Plc, Reliance Comfort Ltd., TK Rentals Sdn Bhd, Trane Technologies Plc, and United Rentals Inc.
- HVAC Rental Equipment Market is fragmented in nature.
- Market to observe 5.06% YOY growth in 2023.
HVAC Rental Equipment Market 2023 – 2027: Market Dynamics:
Trends
- The global chemical industry is investing in advanced HVAC equipment to optimize processes efficiently.
- HVAC rental equipment is in high demand among key industries like chemical, food and beverages, construction, electronics, warehouses, and pharmaceuticals.
- Refrigerated warehouses are critical for maintaining specific temperatures to preserve perishable goods, mainly in the food and pharmaceuticals.
- The pharmaceutical industry's global growth is driving increased production, and advanced HVAC equipment is essential for maintaining product quality.
- HVAC equipment in warehouses helps in reducing the risk of contamination, ensuring the integrity of stored products.
Challenges
- Acquiring and maintaining HVAC rental equipment necessitates substantial upfront investments, including equipment purchase, fleet setup, inspections, and regulatory compliance measures.
- Small and medium-sized rental companies often face financial burdens due to the significant initial capital outlay required for HVAC equipment.
- HVAC equipment depreciation over time is influenced by wear and tear, technological advancements, and changing market preferences.
- The depreciation of HVAC equipment directly impacts its resale value as well as fleet renewal and equipment retirement.
- Rental companies must carefully consider the long-term financial implications of these investments when entering the HVAC equipment rental market.
- Strategies such as equipment maintenance and periodic upgrades can help mitigate the challenges associated with high initial investments in HVAC rental equipment.
The report also covers information on the upcoming trends and challenges. Explore detail information by purchasing report
HVAC Rental Equipment Market 2023 – 2027: Key Segments:
The market is segmented by End-user (Industrial, Commercial, and Residential), Type (Air conditioning, Heating, and Ventilation), and Geography (APAC, North America, Europe, Middle East and Africa, and South America).
The industrial segment is expected to experience substantial market share growth during the forecast period. This growth is attributed to increased investments in key industries such as food and beverages, pharmaceuticals, oil and gas, mining, and power. These investments primarily focus on industrial HVAC systems to enhance operational efficiency. There is a global demand for efficiency, speed, and security in various industrial sectors, driving this trend.
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Related Reports:
HVAC Control Systems Market: The HVAC Control Systems Market size is estimated to grow at a CAGR of 7.7% between 2022 and 2027 and the size of the market is forecast to increase by USD 9335.64 million.
Industrial HVAC Market: The industrial HVAC market is estimated to decline at a CAGR of 6.5% between 2022 and 2027. The size of the market is forecast to increase by USD 4,714.13 million.
HVAC Rental Equipment Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.53% |
Market growth 2023-2027 |
USD 1.80 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
5.06 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 55% |
Key countries |
US, China, India, Germany, and Italy |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aggreko Plc, Air on Location Inc., AIR SOLUTIONS, Andrews Sykes Group Plc, Ashtead Group Plc, Big Ten Rentals, Brookfield Business Partners LP, Carrier Global Corp., Caterpillar Inc., City Air Toronto Air Conditioning and Heating, Entech Sales and Service LLC, Gal Power Systems, Herc Holdings Inc., HVAC Rentals, Ingersoll Rand Inc., Johnson Controls International Plc, Reliance Comfort Ltd., TK Rentals Sdn Bhd, Trane Technologies Plc, and United Rentals Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
TOC:
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Sizes
- Five Forces Analysis
- Market Segmentation by End-User
- Market Segmentation by Type
- Market Segmentation by Geography
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, & Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio
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SOURCE Technavio
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