Non-Residential HVAC Rental Equipment Market size to increase by USD 1.56 billion during 2022-2027 | Growing adoption of cleanrooms across industries to drive the growth- Technavio
NEW YORK, Oct. 19, 2023 /PRNewswire/ -- The non-residential HVAC rental equipment market size is expected to grow by USD 1.56 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 5.52% during the forecast period. The market is segmented by component (unitary equipment, portable equipment, and chillers equipment), end-user (industrial and commercial), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing report
The growing adoption of cleanrooms across industries drives market growth. A cleanroom is essentially an enclosure that is environmentally controlled such that the concentration of airborne particulates, air pressure, temperature, humidity, static charges, airflow patterns, motion, and lighting are controlled within a particular threshold. In addition, dirt and dust particles are prevented from adhering to surfaces in order to obtain high-quality and reliable electronic and medical end-products. Therefore, it fuels the demand for HVAC systems as it acts as a vital component for maintaining cleanliness standards. Hence, such factors are driving the market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the non-residential HVAC rental equipment market: Aggreko Plc, Air on Location Inc., AIR SOLUTIONS, Ashtead Group Plc, Big Ten Rentals, Carrier Global Corp., Caterpillar Inc., City Air Toronto Air Conditioning and Heating, Enercare Inc., Entech Sales and Service LLC, Gal Power Systems, Herc Holdings Inc., HVAC Equipment Rentals, Ingersoll Rand Inc., Johnson Controls International Plc, Oklahoma Chiller Corp., OnSite HVAC Rentals LLC, Reliance Comfort Ltd., Sin Chee Heng Sdn Bhd, and United Rentals Inc.
- The Non-residential HVAC Rental Equipment Market is fragmented in nature.
- Market to observe 5.28% YOY growth in 2023.
Market Dynamics:
Trend
- Increasing demand for energy-efficient HVAC systems is a primary trend in the market during the forecast period.
- There is a rapid expansion of production volume by various end-user industries in order to meet the increasing demands of customers, which in turn is fuelling the adoption of energy-efficient equipment for various industrial processes.
Challenges
- Easy availability of HVAC equipment financing hindering the market.
- Various equipment finance companies are planning to make HVAC equipment financing more accessible and efficient for customers due to the increasing demand for HVAC equipment among industrial and commercial customers.
Key Segments:
The market share growth of the unitary equipment segment is significant during the forecast period. This segment mainly comprises heating equipment, ventilation equipment, and air conditioning equipment. Herc Rentals is one of the prominent heating ventilation & air conditioning (HVAC) rental market players offering a wide range of customers with efficient and effective rental unitary solutions for temporary heating, cooling, drying, or dehumidification.
Get a glance at the market contribution of the segments, Request Free Sample Report
The motor control contactors market size is estimated to grow at a CAGR of 4.75% between 2022 and 2027. The market size is forecast to increase by USD 72.43 million.
The automotive on-board power inverter market size is estimated to grow at a CAGR of 4.65% between 2022 and 2027. The market size is forecast to increase by USD 170.65 million.
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Component
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article