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HVAC Rental Equipment Market by End-user and Geography - Forecast and Analysis 2022-2026

  • Published: Sep 2022
  • Pages: 151
  • SKU: IRTNTR44021
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The HVAC rental equipment market share is expected to increase by USD 1.43 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.67%.

This HVAC rental equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers HVAC rental equipment market segmentation by end-user (industrial, commercial, and residential) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The HVAC rental equipment market report also offers information on several market vendors, including 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. among others.

What will the HVAC Rental Equipment Market Size be During the Forecast Period?

HVAC Rental Equipment Market Size

Download Report Sample to Unlock the HVAC Rental Equipment Market Size for the Forecast Period and Other Important Statistics

 

HVAC Rental Equipment Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing residential and commercial construction activities is notably driving the HVAC rental equipment market growth, although factors such as easy availability of HVAC equipment financing may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the HVAC rental equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key HVAC Rental Equipment Market Driver

The enforcement of favourable regulations is the major driver of the HVAC rental equipment market growth. Vendors are providing certified and sustainable HVAC equipment to end-users, which is encouraging end-users to opt for HVAC equipment rental services. The presence of regulations related to the environment and worker safety drives the growth of the global HVAC rental equipment market. In the US, organizations such as the EPA and OSHA have imposed such regulations. Key regulations imposed by the OSHA are 1910 Subpart D, 1910 Subpart G, 1910 Subpart J, and 1910 Subpart L. Combustible dust is regulated by organizations such as the National Fire Protection Association (NFPA) and the International Code Council (ICC). Organizations such as the MSHA have imposed various provisions and standards to promote worker safety and protect workers from exposure to hazardous environments. Such regulations are prevalent in developed countries. For instance, in the US, the demand for advanced HVAC rental equipment is high because of the presence of regulations such as the Clean Air Act, the Surface Water Treatment Rules (SWTRs), and the Clean Water Act.

Key HVAC Rental Equipment Market Trend

The use of energy-efficient solutions is the major market trend influencing the HVAC rental equipment market growth. As consumers are focusing on environment-friendly and energy-efficient products, manufacturers of HVAC equipment have started using advanced raw materials and production technologies to manufacture products that cater to all consumer needs. Also, HVAC equipment rental service providers include such energy-efficient HVAC equipment in their portfolio due to rising demand from end-users. Process optimization and accuracy are important parts of the manufacturing and processing industries. Energy-efficient HVAC equipment is used to provide a high level of accuracy in operations. Therefore, developments in HVAC equipment in terms of specific industrial applications will drive the growth of the HVAC rental equipment market during the forecast period.

Key HVAC Rental Equipment Market Challenge

Risks associated with HVAC equipment renting are a major hindrance to the growth of the HVAC rental equipment market growth. Technological advances and the declining residual value of HVAC equipment are the major risks associated with HVAC equipment renting. In addition, there is an increase in the popularity of other HVAC equipment financings, such as loans and leasing. The renting term for HVAC equipment is dependent on operators, and it is usually for a small period (monthly and yearly). With technological upgrades, new and efficient versions of HVAC equipment are being introduced into the market, which is likely to outdate the older versions of HVAC equipment after the rent period. The residual value of HVAC equipment reduces proportionally with the number of times the HVAC equipment is being leased. HVAC equipment that has been used for a longer duration will have less market value for renting when compared with the latest ones. HVAC equipment rental service providers can avoid the above risks by following proper safety and security regulations. Moreover, HVAC equipment used in extreme conditions (mining) gets damaged severely, which reduces its value and incurs huge losses for renters, along with other maintenance costs. Thus, the risks associated with renting HVAC equipment can hinder the growth of the market during the forecast period.

This HVAC rental equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global HVAC rental equipment market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the HVAC rental equipment market during the forecast period.

Who are the Major HVAC Rental Equipment Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 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
  • United Rentals Inc.

 

This statistical study of the HVAC rental equipment market encompasses successful business strategies deployed by the key vendors. The HVAC rental equipment market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The HVAC rental equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.

HVAC Rental Equipment Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the HVAC rental equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for HVAC Rental Equipment Market?

HVAC Rental Equipment Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

59% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for HVAC rental equipment market in APAC. Market growth in this region will be faster than the growth of the market in regions.

Increasing construction of data centres will facilitate the HVAC rental equipment market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 has affected many countries in the region, such as China, India, South Korea, and Japan. The outbreak affected the overall economy of the region and supply chain and construction activities in the industrial, residential, and commercial sectors. To prevent the community transmission of the disease in the region, many countries announced a nationwide lockdown, which resulted in the temporary closure of transportation, industries, shopping, construction, and other activities that use HVAC equipment. The temporary closure of the above sectors led to a decline in the rental services of HVAC, which has limited the use of HVAC equipment among end-users. This had a negative impact on the HVAC rental equipment market in the region. 

What are the Revenue-generating End-user Segments in the HVAC Rental Equipment Market?

HVAC Rental Equipment Market Share

To gain further insights on the market contribution of various segments Request PDF Sample

The HVAC rental equipment market share growth by the industrial segment will be significant during the forecast period. The segment is expected to dominate the market throughout the forecast period because of the increasing investments in the food and beverages, pharmaceutical, oil and gas, mining, and power industries. The investments include the expenditure on industrial HVAC that makes industrial processes efficient. Globally, the need for efficiency, speed, and security to carry out operations efficiently in the various industrial end-user sectors is increasing. For instance, mining activities happen deep below the Earth s surface, which can range up to several kilometres

This report provides an accurate prediction of the contribution of all the segments to the growth of the HVAC rental equipment market size and actionable market insights on post COVID-19 impact on each segment.

 

HVAC Rental Equipment Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.67%

Market growth 2022-2026

$ 1.43 billion

Market structure

Fragmented

YoY growth (%)

3.91

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 56%

Key consumer countries

US, Canada, China, India, Germany, and Italy

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

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.

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, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this HVAC Rental Equipment Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive HVAC rental equipment market growth during the next five years
  • Precise estimation of the HVAC rental equipment market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behaviour
  • The growth of the HVAC rental equipment industry across APAC, North America, Europe, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of HVAC rental equipment market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Industrial - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Industrial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Industrial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Industrial - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Industrial - Year-over-year growth 2021-2026 (%)
    • 5.4 Commercial - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Commercial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Commercial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Commercial - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Commercial - Year-over-year growth 2021-2026 (%)
    • 5.5 Residential - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Residential - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Residential - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Residential - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Residential - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by End-user
      • Exhibit 40: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 India - Market size and forecast 2021-2026
      • Exhibit 74: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 Italy - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Italy - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Italy - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Italy - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Italy - Year-over-year growth 2021-2026 (%)
    • 7.13 Canada - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.14 Market opportunity by geography
      • Exhibit 90: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 93: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 94: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 95: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 96: Matrix on vendor position and classification
            • 10.3 Aggreko Plc
              • Exhibit 97: Aggreko Plc - Overview
              • Exhibit 98: Aggreko Plc - Business segments
              • Exhibit 99: Aggreko Plc - Key news
              • Exhibit 100: Aggreko Plc - Key offerings
              • Exhibit 101: Aggreko Plc - Segment focus
            • 10.4 Ashtead Group plc
              • Exhibit 102: Ashtead Group plc - Overview
              • Exhibit 103: Ashtead Group plc - Business segments
              • Exhibit 104: Ashtead Group plc - Key offerings
              • Exhibit 105: Ashtead Group plc - Segment focus
            • 10.5 Carrier Global Corp.
              • Exhibit 106: Carrier Global Corp. - Overview
              • Exhibit 107: Carrier Global Corp. - Business segments
              • Exhibit 108: Carrier Global Corp. - Key news
              • Exhibit 109: Carrier Global Corp. - Key offerings
              • Exhibit 110: Carrier Global Corp. - Segment focus
            • 10.6 Enercare Inc.
              • Exhibit 111: Enercare Inc. - Overview
              • Exhibit 112: Enercare Inc. - Product / Service
              • Exhibit 113: Enercare Inc. - Key offerings
            • 10.7 Herc Rentals Inc.
              • Exhibit 114: Herc Rentals Inc. - Overview
              • Exhibit 115: Herc Rentals Inc. - Product / Service
              • Exhibit 116: Herc Rentals Inc. - Key offerings
            • 10.8 HVAC Rentals
              • Exhibit 117: HVAC Rentals - Overview
              • Exhibit 118: HVAC Rentals - Product / Service
              • Exhibit 119: HVAC Rentals - Key offerings
            • 10.9 Ingersoll Rand Inc.
              • Exhibit 120: Ingersoll Rand Inc. - Overview
              • Exhibit 121: Ingersoll Rand Inc. - Business segments
              • Exhibit 122: Ingersoll Rand Inc. - Key offerings
              • Exhibit 123: Ingersoll Rand Inc. - Segment focus
            • 10.10 Johnson Controls International Plc
              • Exhibit 124: Johnson Controls International Plc - Overview
              • Exhibit 125: Johnson Controls International Plc - Business segments
              • Exhibit 126: Johnson Controls International Plc - Key news
              • Exhibit 127: Johnson Controls International Plc - Key offerings
              • Exhibit 128: Johnson Controls International Plc - Segment focus
            • 10.11 Reliance Comfort Ltd. Partnership
              • Exhibit 129: Reliance Comfort Ltd. Partnership - Overview
              • Exhibit 130: Reliance Comfort Ltd. Partnership - Product / Service
              • Exhibit 131: Reliance Comfort Ltd. Partnership - Key offerings
            • 10.12 United Rentals Inc.
              • Exhibit 132: United Rentals Inc. - Overview
              • Exhibit 133: United Rentals Inc. - Business segments
              • Exhibit 134: United Rentals Inc. - Key news
              • Exhibit 135: United Rentals Inc. - Key offerings
              • Exhibit 136: United Rentals Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 137: Inclusions checklist
                • Exhibit 138: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 139: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 140: Research methodology
                • Exhibit 141: Validation techniques employed for market sizing
                • Exhibit 142: Information sources
              • 11.5 List of abbreviations
                • Exhibit 143: List of abbreviations
              • The initiation of several smart city projects in the UAE, Qatar, and Saudi Arabia is increasing the use of advanced HVAC rental equipment in the region. Many Middle Eastern countries, such as the UAE, are spending considerably on improving public infrastructure, ranging from the expansion of airports to building new infrastructure. For instance, in 2021, the Government of Saudi Arabia announced plans to invest in the development of a smart city, the King Abdullah Economic City. The total cost of the project is estimated to be $220

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
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                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                HVAC Rental Equipment market growth will increase by $1431.77 million during 2022-2026.
                The hvac rental equipment market is expected to grow at a CAGR of 4.67% during 2022-2026.
                Technavio has segmented the hvac rental equipment market by end-user (industrial, commercial, and residential) and geographic (APAC, North America, Europe, Middle East and Africa, South America, APAC, North America, Europe, MEA, and South America).
                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, United Rentals Inc. are a few of the key vendors in the hvac rental equipment market.
                APAC will register the highest growth rate of 56.37% among the other regions. Therefore, the hvac rental equipment market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                • US
                • Canada
                • China
                • India
                • Germany
                • Italy
                The key factors driving the hvac rental equipment market growth are:
                • Increasing residential and commercial construction activities
                • Use of energy-efficient solutions
                The hvac rental equipment market vendors should focus on grabbing business opportunities from the industrial segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
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                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
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