International.
The global HVAC equipment rental market is projected to reach US$4.63 million in 2020, growing at a compound annual growth rate (CAGR) of 8%, according to the latest market study published by Technavio.
The report classifies the market into three major end-user segments: industrial, commercial, and residential.
Technavio expects the industrial sector to grow from $1.62 million in 2015 to $2.44 billion in 2020. The nuclear energy industry requires air conditioning for the maintenance of environmental conditions within acceptable limits; protect nuclear power plants from risks inside buildings, such as lack of oxygen, explosion and fire; control of the release of air from controlled areas in normal operations; and containing radioactivity released during base design or extension design conditions.
The rental of HVAC equipment is widely used in the telecommunications and data center sector, where there is a constant need for air conditioners and refrigerators, especially in server rooms. Equipment is also needed to maintain a suitable environment inside these facilities. These sectors mostly turn to rental services for the following reasons:
• The need for maintenance, renovation or replacement of old equipment you call with replacement equipment to ensure normal operations without interruption; this can be adequately fulfilled by HVAC equipment rental service providers.
• Cost-effective option for businesses as it reduces the total cost of ownership when considering installing new equipment.
