NEW YORK, March 29, 2023 /PRNewswire/ -- The global HVAC rental equipment market size is estimated to increase by USD 1.43 billion from 2021 to 2026. The market's growth momentum will accelerate at a CAGR of 4.67%. The enforcement of favorable regulations is driving market growth. Organizations such as the EPA and OSHA in the US have imposed regulations related to environment and worker safety. Some of the key regulations imposed by OSHA are 1910 Subpart D, 1910 Subpart G, 1910 Subpart J, and 1910 Subpart L. Organizations such as the National Fire Protection Association (NFPA) and the International Code Council (ICC) regulated combustible. In addition, various provisions and standards imposed by organizations such as the MSHA promote worker safety. These factors will fuel the market growth during the forecast period.

The use of energy-efficient solutions is a key trend in the market. As consumers are increasingly focusing on environment-friendly and energy-efficient products, manufacturers of HVAC equipment have started to use advanced raw materials and production technologies. HVAC equipment rental service providers are including energy-efficient HVAC equipment in their portfolios. Such equipment provides a high level of accuracy in operations. Therefore, developments in HVAC equipment will support the growth of the HVAC rental equipment market during the forecast period. Discover some insights on the market - Request a sample report

HVAC rental equipment market - Segmentation assessment
Segment overview
Technavio has segmented the market based on end-user (industrial, commercial, and residential).

• The industrial segment will account for a significant share of the market growth during the forecast period. The increasing investments in the food and beverages, pharmaceutical, oil and gas, mining, and power industries are driving the growth of this segment. The investments mainly include the expenditure on industrial HVAC to make industrial processes more efficient. The need for efficiency, speed, and security in industrial operations is increasing among various end-users. These factors will fuel the growth of the segment during the forecast period.

Geography overview
Based on geography, the global HVAC rental equipment market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global HVAC rental equipment market.

• APAC will account for 56% of the market's growth during the forecast period. China and Japan are the key contributors to the HVAC rental equipment market growth in the region. Moreover, market growth in this region will be faster than the growth of the market in regions. Increasing construction of data centers will drive the HVAC rental equipment market growth in APAC during the forecast period.

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HVAC rental equipment market – Vendor analysis
Vendor landscape –

The global HVAC rental equipment market is fragmented, with the presence of many international, regional, and country-specific vendors. A few prominent vendors that offer HVAC rental equipment in the market are Aggreko Plc, Air on Location Inc., Air Solutions LLC, Andrews Sykes Group Plc, Ashtead Group plc, Big Ten Rentals Inc., Carrier Global Corp., Caterpillar Inc., City Air Toronto, Enercare Inc., Entech Sales and Service LLC, GAL Power Systems, Herc Rentals Inc., HVAC Rentals, Ingersoll Rand Inc., Johnson Controls International Plc, Reliance Comfort Ltd. Partnership, TK Rentals Sdn Bhd, Trane Technologies Plc, and United Rentals Inc. and others.

International players offer a wide range of energy-efficient HVAC equipment and provide rental services, while local vendors generally cater to specific end-user applications. This, in turn, has led to intense competition in the market. Hence, vendors are focusing on offering HVAC rental equipment based on customers' requirements. They are also expected to face intense competition from the growing unorganized market in emerging countries such as China and India. The competition in the market is expected to intensify during the forecast period.

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Vendor offerings -

• Aggreko Plc – The company offers HVAC rental equipment such as generators, chillers, and cooling towers.

• Ashtead Group plc - The company offers HVAC rental equipment under its brand Sunbelt Rentals.

• Carrier Global Corp. - The company offers HVAC rental equipment such as chillers, air conditioners, and cooling towers.

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HVAC rental equipment market – Major challenges

Risks associated with HVAC equipment renting are challenging the market growth. Technological advances and the decreasing residual value of HVAC equipment are some of the major risks associated with HVAC equipment rentals. The popularity of other types of equipment financing, such as loans and leasing, has increased. New and efficient versions of HVAC equipment are also being introduced frequently into the market. Therefore, rented HVAC equipment is likely to become outdated after the rental period. Moreover, HVAC equipment that has been used for a long duration has a lower market value for renting when compared to the latest equipment. In addition, HVAC equipment can get severely damaged during extreme conditions, which reduces its value. Thus, the risks associated with renting HVAC equipment can hinder the growth of the market during the forecast period.

Market challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this HVAC rental equipment market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the HVAC rental equipment market between 2022 and 2026

• Precise estimation of the size of the HVAC rental equipment market and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the HVAC rental equipment market across APAC, North America, Europe, Middle East and Africa, and South America

• A thorough analysis of the market's competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of HVAC rental equipment market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

• 4.1 Five forces summary

• 4.2 Bargaining power of buyers

• 4.3 Bargaining power of suppliers

• 4.4 Threat of new entrants

• 4.5 Threat of substitutes

• 4.6 Threat of rivalry

• 4.7 Market condition

5 Market Segmentation by End-user

• 5.1 Market segments

• 5.2 Comparison by End-user

• 5.3 Industrial - Market size and forecast 2021-2026

• 5.4 Commercial - Market size and forecast 2021-2026

• 5.5 Residential - Market size and forecast 2021-2026

• 5.6 Market opportunity by End-user

6 Customer Landscape

• 6.1 Customer landscape overview

7 Geographic Landscape

• 7.1 Geographic segmentation

• 7.2 Geographic comparison

• 7.3 APAC - Market size and forecast 2021-2026

• 7.4 North America - Market size and forecast 2021-2026

• 7.5 Europe - Market size and forecast 2021-2026

• 7.6 Middle East and Africa - Market size and forecast 2021-2026

• 7.7 South America - Market size and forecast 2021-2026

• 7.8 China - Market size and forecast 2021-2026

• 7.9 US - Market size and forecast 2021-2026

• 7.10 India - Market size and forecast 2021-2026

• 7.11 Germany - Market size and forecast 2021-2026

• 7.12 Italy - Market size and forecast 2021-2026

• 7.13 Canada - Market size and forecast 2021-2026

• 7.14 Market opportunity by geography

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape

• 9.3 Landscape disruption

• 9.4 Industry risks

10 Vendor Analysis

• 10.1 Vendors covered

• 10.2 Market positioning of vendors

• 10.3 Aggreko Plc

• 10.4 Ashtead Group plc

• 10.5 Carrier Global Corp.

• 10.6 Enercare Inc.

• 10.7 Herc Rentals Inc.

• 10.8 HVAC Rentals

• 10.9 Ingersoll Rand Inc.

• 10.10 Johnson Controls International Plc

• 10.11 Reliance Comfort Ltd. Partnership

• 10.12 United Rentals Inc.

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist

• 11.3 Currency conversion rates for US$

• 11.4 Research methodology

• 11.5 List of abbreviations

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