Rising demand from the food and beverage industry and rising disposable income are likely to boost demand
NEW YORK, NY, UNITED STATES, October 12, 2021 /ENDdresswire.com/ — De HVAC Rental Equipment Market is expected to register a CAGR of 5.4% in 2026, to reach USD 6.29 billion in 2026, from USD 4.07 billion in 2018. Increasing demand from the food and beverage industry is one of the main drivers of this market. The food and beverage industry plays a key role in increasing economic opportunities. The industry is registering growing changes in consumption patterns. Increasing people’s disposable incomes, especially in APAC, are driving change.
The latest market-driven trend is stricter regulations for 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 a major source of greenhouse gases that contribute to global warming.
A low preference for rental services is one of the main factors hindering the growth of this market. One of the major challenges influencing the growth of the global HVAC rental market is that people still tend to buy and sell equipment after its intended purpose.
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Major players in the HVAC rental equipment market are 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 expected to grow 5.4% in 2026 to reach USD 6.29 billion in 2026, from USD 4.07 billion in 2018. Increasing demand from the food and beverage industry is an of the main drivers of this market. The food and beverage industry plays a key role in increasing economic opportunities. The industry is registering growing changes in consumption patterns. Increasing people’s disposable incomes, especially in APAC, are driving change.
• The industrial segment dominated the market, accounting for more than 56% of the market share in 2018. This segment will remain the largest segment and is expected to reach more than USD 4.8 billion by 2026. Factors such as growing demand for nuclear-powered HVAC systems and mining sectors are boosting the growth prospects of this market segment in the coming years. In addition, strict regulations for the food and beverage industry will further boost the growth prospects of this segment
• North America dominated the commercial HVAC lease equipment market, accounting for nearly 45% of the market share in 2018. The US is the main source of revenue and the rapid growth of the construction industry and an increase in LEED buildings will boost growth prospects boost in America for the HVAC rental market.
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This report forecasts volume and revenue growth at the global, regional, and country levels and provides an analysis of industry trends in each of the sub-segments from 2019 to 2026. For this research, reports and data segmented the HVAC. Rental Equipment Market by Type, Application, and Region:
Type (Revenue, USD million; 2016-2026)
• Air conditioning
• Heating pumps
Application Outlook (Yield, USD million; 2016-2026)
The research involves 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 key business players along with their in-depth profiling, product portfolio and strategic business decisions. The report has been prepared through extensive primary and secondary research and further validated by analysts, industry experts and market professionals. The report also sheds light on recent mergers and acquisitions, joint ventures, collaborations, partnerships and product launches, among others.
Regional analysis includes assessment of import/export, production and consumption ratio, supply and demand, costs, price, estimated revenues and gross margins, and presence of key players in the region. The report also provides insights on revenue growth, market size, market share, technological advancement, and presence of key players in each region.
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The Regional Breakdown of the HVAC Rental Equipment Market includes:
North America (US, Canada, Mexico)
Europe (UK, Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, UAE, South Africa, rest of MEA)
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