Latest News- Non-Residential HVAC Rental Equipment Market: Unitary equipment is expected to lead the Component segment during 2024-2028

The Non-Residential HVAC Rental Equipment Market is being driven by Growing adoption of cleanrooms across industries

The Non-Residential HVAC Rental Equipment Market is expected to grow at a CAGR of 5.65% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.69 billion. The non-residential HVAC rental equipment market is witnessing a notable trend towards the adoption of smart and IoT-connected HVAC systems. Leveraging advancements in portable devices and monitoring systems, end-users can effectively manage their HVAC infrastructure in real-time. IoT integration enhances the functionality of these systems, offering benefits such as predictive maintenance and continuous monitoring. By collecting real-time data, operators can optimize system performance, minimize downtime, and ensure energy efficiency. Predictive maintenance capabilities enable early detection of potential issues, reducing the need for costly repairs and unscheduled downtime. Overall, IoT integration in non-residential HVAC rental systems offers significant operational advantages, enhancing efficiency, reliability, and cost savings. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Unitary equipment
  • Portable equipment
  • Chillers equipment
• End-user
  • Industrial
  • Commercial
• Geography
  • APAC
    • China
    • Japan
    • South Korea
  • North America
    • US
  • Europe
    • Germany
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing adoption of cleanrooms across industries
• Increasing commercial construction activities
• Rising number of data centers

However, the market also witnesses some limitations, which are as follows:

• Easy availability of HVAC equipment financing
• Failure issues with HVAC equipment
• Regulations pertaining to fluorinated greenhouse gases

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Market Scope in Non-Residential HVAC Rental Equipment Market Research Report

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Research Analysis Overview

The Non-Residential HVAC Rental Equipment Market caters to various sectors including cleanrooms, commercial construction activities, data centers, and events such as concerts, weddings, trade shows, outdoor events, sports events, and festivals. This market offers energy-efficient HVAC systems, smartphone-enabled HVAC equipment, and portable HVAC solutions for creating comfortable atmospheres in commercial, industrial, and residential spaces. Additionally, it serves as a vital solution during natural disasters, power outages, cold spells, and other emergencies.

Market Research Overview

The non-residential HVAC rental equipment market is a significant segment of the larger global electrical components and equipment market, according to Technavio's market research. This market encompasses companies providing portable HVAC solutions for various applications, including cleanrooms, commercial construction activities, and data centers. Technavio's analysis of the global electrical components and equipment market includes manufacturers of HVAC rental equipment alongside other electrical products such as motors, electrical distribution and protection equipment, and power supplies and conditioners. Smartphone-enabled HVAC equipment and primary HVAC systems are also part of this market. Construction crews rely on these solutions to maintain optimal temperature and humidity levels during construction projects and ensure efficient operation of critical infrastructure.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/