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HVAC Rental Equipment Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR44021
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The HVAC rental equipment market share is expected to increase by USD 1.34 mn from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.53%.

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, MEA, and South America). The HVAC rental equipment market report also offers information on several market vendors, including Aggreko Plc, Ashtead Group Plc, Brookfield Business Partners L.P., Herc Rentals Inc., HVAC RENTALS, Ingersoll Rand Inc, Johnson Controls International Plc, Raytheon Technologies Corp., Reliance Comfort Ltd. Partnership, 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 the Free 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 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

Enforcement of favorable regulations is driving the HVAC equipment rental market is the major driver for the growth of the HVAC rental equipment market. 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 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 an important part 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 their 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 2021-2025.

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
  • Ashtead Group Plc
  • Brookfield Business Partners L.P.
  • Herc Rentals Inc.
  • HVAC RENTALS
  • Ingersoll Rand Inc
  • Johnson Controls International Plc
  • Raytheon Technologies Corp.
  • Reliance Comfort Ltd. Partnership
  • 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 production, sustainability, and prospects of the leading companies.

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.

The value chain of the global electrical components and equipment market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for HVAC Rental Equipment Market?

HVAC Rental Equipment Market Market segmentation by region

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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 centers 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 both the industrial, residential, and commercial sectors. To prevent the community transmission of the disease in the region, many countries announced 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 Segmentation

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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 kilometers

Besides the above-mentioned factors, the post-COVID-19 impact has brought forth a slowdown in or fast-tracked the demand for the service or product. 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

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4.53%

Market growth 2021-2025

USD 1.34 million

Market structure

Fragmented

YoY growth (%)

2.97

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 59%

Key consumer countries

China, US, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aggreko Plc, Ashtead Group Plc, Brookfield Business Partners L.P., Herc Rentals Inc., HVAC RENTALS, Ingersoll Rand Inc, Johnson Controls International Plc, Raytheon Technologies Corp., Reliance Comfort Ltd. Partnership, 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

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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 2021-2025
  • 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 behavior
  • The growth of the HVAC rental equipment industry across APAC, North America, Europe, MEA, 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

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Electrical components and equipment

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 15: End-user - Market share 2020-2025 (%)
    • 5.2 Comparison by End-user
      • Exhibit 16: Comparison by End-user
    • 5.3 Industrial - Market size and forecast 2020-2025
      • Exhibit 17: Industrial - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Industrial - Year-over-year growth 2020-2025 (%)
    • 5.4 Commercial - Market size and forecast 2020-2025
      • Exhibit 19: Commercial - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Commercial - Year-over-year growth 2020-2025 (%)
    • 5.5 Residential - Market size and forecast 2020-2025
      • Exhibit 21: Residential - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Residential - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by End-user
      • Exhibit 23: Market opportunity by End-user

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 25: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 26: Geographic comparison
    • 7.3 APAC - Market size and forecast 2020-2025
      • Exhibit 27: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
    • 7.4 North America - Market size and forecast 2020-2025
      • Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
    • 7.5 Europe - Market size and forecast 2020-2025
      • Exhibit 31: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: Europe - Year-over-year growth 2020-2025 (%)
    • 7.6 MEA - Market size and forecast 2020-2025
      • Exhibit 33: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
    • 7.7 South America - Market size and forecast 2020-2025
      • Exhibit 35: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: South America - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 37: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 38: Market opportunity by geography

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 39: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Competitive scenario
          • 9.2 Vendor landscape
            • 9.3 Landscape disruption
              • Exhibit 41: Landscape disruption
              • Exhibit 42: Industry risks

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 43: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 44: Market positioning of vendors
            • 10.3 Aggreko Plc
              • Exhibit 45: Aggreko Plc - Overview
              • Exhibit 46: Aggreko Plc - Business segments
              • Exhibit 47: Aggreko Plc - Key news
              • Exhibit 48: Aggreko Plc - Key offerings
              • Exhibit 49: Aggreko Plc - Segment focus
            • 10.4 Ashtead Group Plc
              • Exhibit 50: Ashtead Group Plc - Overview
              • Exhibit 51: Ashtead Group Plc - Business segments
              • Exhibit 52: Ashtead Group Plc - Key offerings
              • Exhibit 53: Ashtead Group Plc - Segment focus
            • 10.5 Brookfield Business Partners L.P.
              • Exhibit 54: Brookfield Business Partners L.P. - Overview
              • Exhibit 55: Brookfield Business Partners L.P. - Business segments
              • Exhibit 56: Brookfield Business Partners L.P. - Key news
              • Exhibit 57: Brookfield Business Partners L.P. - Key offerings
              • Exhibit 58: Brookfield Business Partners L.P. - Segment focus
            • 10.6 Herc Rentals Inc.
              • Exhibit 59: Herc Rentals Inc. - Overview
              • Exhibit 60: Herc Rentals Inc. - Business segments
              • Exhibit 61: Herc Rentals Inc. - Key news
              • Exhibit 62: Herc Rentals Inc. - Key offerings
              • Exhibit 63: Herc Rentals Inc. - Segment focus
            • 10.7 HVAC RENTALS
              • Exhibit 64: HVAC RENTALS - Overview
              • Exhibit 65: HVAC RENTALS - Product and service
              • Exhibit 66: HVAC RENTALS - Key offerings
            • 10.8 Ingersoll Rand Inc
              • Exhibit 67: Ingersoll Rand Inc - Overview
              • Exhibit 68: Ingersoll Rand Inc - Business segments
              • Exhibit 69: Ingersoll Rand Inc - Key news
              • Exhibit 70: Ingersoll Rand Inc - Key offerings
              • Exhibit 71: Ingersoll Rand Inc - Segment focus
            • 10.9 Johnson Controls International Plc
              • Exhibit 72: Johnson Controls International Plc - Overview
              • Exhibit 73: Johnson Controls International Plc - Business segments
              • Exhibit 74: Johnson Controls International Plc - Key news
              • Exhibit 75: Johnson Controls International Plc - Key offerings
              • Exhibit 76: Johnson Controls International Plc - Segment focus
            • 10.10 Raytheon Technologies Corp.
              • Exhibit 77: Raytheon Technologies Corp. - Overview
              • Exhibit 78: Raytheon Technologies Corp. - Product and service
              • Exhibit 79: Raytheon Technologies Corp. - Key offerings
            • 10.11 Reliance Comfort Ltd. Partnership
              • Exhibit 80: Reliance Comfort Ltd. Partnership - Overview
              • Exhibit 81: Reliance Comfort Ltd. Partnership - Product and service
              • Exhibit 82: Reliance Comfort Ltd. Partnership - Key offerings
            • 10.12 United Rentals Inc.
              • Exhibit 83: United Rentals Inc. - Overview
              • Exhibit 84: United Rentals Inc. - Business segments
              • Exhibit 85: United Rentals Inc. - Key offerings
              • Exhibit 86: United Rentals Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 87: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 88: Research Methodology
                • Exhibit 89: Validation techniques employed for market sizing
                • Exhibit 90: Information sources
              • 11.4 List of abbreviations
                • Exhibit 91: List of abbreviations

              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
              Technavio

              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
              Interested in this report?
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              HVAC Rental Equipment Market market growth will increase by $1.34 mn during 2021-2025.
              The hvac rental equipment market market is expected to grow at a CAGR of 4.53% during 2021-2025.
              Technavio has segmented the hvac rental equipment market market by end user (industrial, commercial, and residential) ,geography (APAC, North America, Europe, MEA, and South America) , and geographic (APAC, North America, Europe, MEA, and South America).
              Aggreko Plc, Ashtead Group Plc, Brookfield Business Partners L.P., Herc Rentals Inc., HVAC RENTALS, Ingersoll Rand Inc, Johnson Controls International Plc, Raytheon Technologies Corp., Reliance Comfort Ltd. Partnership, United Rentals Inc. are a few of the key vendors in the hvac rental equipment market market.
              APAC will register the highest growth rate of 59% among the other regions. Therefore, the hvac rental equipment market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the hvac rental equipment market market growth are:
              • increasing residential and commercial construction activities
              • Use of energy-efficient solutions
              The hvac rental equipment market 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?
              • What are the revenue-generating key market segments?
              • 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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              • Detailed vendors report with competitive landscape
              • Covid-19 impact and recovery analysis
              • Data on revenue-generating market segments
              • Details on the market shares of various regions
              • Five-force market analysis

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