The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), GCC HVAC Rental Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
GCC HVAC Rental Industry Analytical Overview (2024-2030): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, GCC HVAC Rental market size is valued at around USD 192 million in 2024 and is projected to grow at a CAGR of around 3.48% during the forecast period, i.e., 2023-28. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024 to 2030.
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What is Included in GCC HVAC Rental Market Segmentation?
The report has segmented the market into the following categories:
By Type
– Room Air Conditioners
– – Split & Window Units
– – Cassette
– – Packaged
– – Others (Floor Standing, etc.)
– Centralised Air Conditioners
– – Chillers
– – VRFs
– – Others (AHU & FCU)
– – Others (Heating Equipment, etc.)
By Application
– Construction
– Events
– Breakdown of Equipment
Of these, Construction acquired a considerable share in the GCC Rental market in the past years on account of the large-scale infrastructural development in countries such as the UAE, Saudi, Qatar, Kuwait, etc. The presence of a large number of laborers at economical prices to work at these construction sites, along with the hot & humid climatic conditions of the region generated the need to provide air-cooling equipment for such labor. The availability of rental HVAC solutions costs it less for builders to fulfill the air conditioning needs at the accommodation for such labor, making the countries present across GCC the major market for rental HVAC equipment. Furthermore, the increasing rate of construction in the region would drive the demand for this segment in the upcoming period.
By Duration
– Short Term (>15 days)
– Long Term (15 days or more)
By Countries
– The UAE
– Saudi Arabia
– Qatar
– Kuwait
– Oman
– Bahrain
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Key Factor Driver GCC HVAC Rental Industry Growth by 2030
Dependency on Import to Disrupt the Market Growth – The GCC Rental HVAC market is highly dependent upon efficient & reliable imports & is vulnerable to disruptions in the global market. Any disruptions to shipping & transportation, such as natural disasters, strikes, or political instability, impact the delivery of HVAC equipment & spare parts to GCC countries, leading to delays & increased costs for companies. Thus, the dependency of HVAC rental companies on imports from countries across the globe may hinder the growth of the market in the upcoming years.
Who are the Key Players Operating in the GCC HVAC Rental Industry?
The top companies of the GCC HVAC Rental market ruling the industry are:
- Johnson Controls (York)
- Aggreko
- Ingersoll Rand (Trane)
- Byrne Equipment Rental
- Andrews Sykes Climate Rental
- Rental Solutions & Services
- Foster International
- GAMI
- GEO Rental Solutions
- Energia
- Prime Chiller Cooling Systems PLC
- Others
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FAQs (Frequently Ask Questions)
- What are the industry’s overall statistics or estimates including CARG and USD Value of the forecasting years?
- What are the trends influencing the current scenario of the GCC HVAC Rental Market?
- What are the key factors that would propel and hinder the industry?
- Which geographical area dominates the GCC HVAC Rental industry?
- Which is the Leading segment in the market?
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